Mergers and acquisitions authorized

The Chinese Insurance Regulatory Commission (CIRC) has allowed insurance companies to engage in mergers and acquisitions, a move benefiting only companies operating in the same business.
This opportunity has been granted only after the enactment of a set of laws regulating unfair competition.
CIRC prohibits recourse to bank loans and other external funding for such projects. The objective is to ensure the financial soundness of the acquirer.