China's State Administration of Financial Supervision and Administration has issued revised Measures for the Administration of Banking and Insurance Institution Licenses, updating the framework for licensing and licence compliance for banking and insurance institutions. The Measures will enter into force on 1 June 2026. The 32-article Measures retain the core principles of financial franchising and licensed operation, while adjusting the classification of licences and the entities to which they apply. They also consolidate institutions’ main responsibility for licence management, strengthen licence compliance controls, refine administrative penalty standards under an “equivalent penalties” principle, and standardise and optimise related work processes and procedural linkages. The supervisor said it will guide banking and insurance institutions in implementing the Measures to support compliant operation and improve licence management.
China Banking and Insurance Regulatory Commission 2026-02-06
China's State Administration of Financial Supervision and Administration issues revised measures to tighten banking and insurance institution licence management effective June 2026
China's State Administration of Financial Supervision and Administration has revised the Measures for the Administration of Banking and Insurance Institution Licenses, effective 1 June 2026, updating licensing frameworks and compliance for these institutions. Key changes include licence classification adjustments, strengthened compliance controls, refined penalty standards, and optimised processes.