Notice by the China Banking and Insurance Regulatory Commission of Issuing the Interim Measures for the Administration of the Private Pension Business of Commercial Banks and Wealth Management Companies
- Document Number：No. 16  of the China Banking and Insurance Regulatory Commission
Area of Law： Banking Business Protection for the Elderly, Young, Women, and DisabledLevel of Authority： Departmental Regulatory DocumentsDate Issued：11-17-2022Effective Date：11-17-2022Issuing Authority： China Banking and Insurance Regulatory CommissionStatus： Effective
- Notice by the China Banking and Insurance Regulatory Commission of Issuing the Interim Measures for the Administration of the Private Pension Business of Commercial Banks and Wealth Management Companies
- (No. 16  of the China Banking and Insurance Regulatory Commission)
- All local offices of the China Banking and Insurance Regulatory Commission ("CBIRC"); all large banks, joint-stock banks, wealth management companies, all insurance group (holding) companies, insurance companies, insurance asset management companies, and pension management companies; China Banking and Insurance Information Technology Management Co., Ltd., and China Wealth (Asset) Management Registry and Custody Co., Ltd.:
- For the purposes of advancing the building of a multi-level and multi-pillar pension insurance system and promoting the development of the private pension business of commercial banks and wealth management companies, the Interim Measures for the Administration of the Private Pension Business of Commercial Banks and Wealth Management Companies (hereinafter referred to as the "Interim Measures") are hereby issued to you together with a notice of the relevant matters as follows:
- I. Effectively improving ideological understanding. Conducting private pension business is an important measure to appeal to the people-oriented nature of financial work. All participating institutions shall improve their ideological understanding, adhere to the people-centered development thought, increase the supply of private pension products, effectively meet the diverse pension needs of the public, and contribute to the sound development of the third-pillar pension insurance system.
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