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China sets new rules for banks selling insurance

China sets new rules for banks selling insurance

Write: Stanbury [2011-05-20]

HONG KONG - China's banking regulator on Monday unveiled new rules governing the sale of insurance by banks as lenders get set to diversify into the area under recently relaxed rules.

Banks will now be required to perform a risk profile assessment and record telephone conversations its staff have with customers before selling them insurance, the China Banking Regulatory Commission said in a statement.

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