Senior leaders from CBBC Members across banking, insurance, and asset management attended the meeting, as did CBBC’s President, Lord Sassoon, in his capacity as Chair of the China Market Advisory Group (CMAG). Issues raised during the meeting included how the Data Security Law is going to be applied in the context of China’s financial and professional services sector as well as access to licenses so that UK institutions can grow the scale and scope of their business in China.

Senior leaders from CBBC Members across banking, insurance, and asset management attended the meeting

This meeting with China’s banking and insurance watchdog is a part of a broader programme of engagements CBBC has planned with key Chinese government ministries and regulatory bodies, over the coming months. We encourage CBBC Members who wish to get involved to get in touch. 

China Banking and Insurance Regulatory Commission (CBIRC) Vice Chairman ZHOU Liang

In his opening remarks, Vice Chairman ZHOU Liang said, “China always strives to be innovative, particularly in the context of its financial services sector, and the CBIRC will continue to promote financial sector opening with higher level and quality. We welcome leading financial and professional institutions to invest in China and share the dividends of China's development“.

CBBC’s Chair Sir Sherard Cowper-Coles 

Commenting on the meeting, CBBC Chair, Sir Sherard Cowper-Coles said, “Today’s gathering underlines the commitment British companies and institutions have with the China market, showing that the business relationship is strong and flourishing, and pointing the way to further opportunities in both the UK and China. CBBC looks forward to continuing its work with CBIRC to optimize China’s business environment for British financial services firms.”