China's National Financial Regulatory Administration issued a notice clarifying the conditions for Hong Kong and Macao financial institutions taking equity stakes in mainland insurance companies, in line with amended services trade arrangements under the Mainland–Hong Kong and Mainland–Macao CEPA frameworks. The key change is that, from 1 March 2025, such investments will no longer be subject to the requirement that the investing institution have total assets of at least USD 2bn at the end of the most recent year. The measure is presented as part of an orderly expansion of financial opening-up, intended to facilitate mainland insurers attracting investment from Hong Kong and Macao financial institutions, strengthen capital and optimise ownership structures, and deepen financial cooperation with Hong Kong and Macao.
China Banking and Insurance Regulatory Commission 2025-02-26
China's National Financial Regulatory Administration drops USD 2bn asset threshold for Hong Kong and Macao institutions investing in mainland insurers
China's National Financial Regulatory Administration announced that from 1 March 2025, Hong Kong and Macao financial institutions can invest in mainland insurance companies without needing total assets of at least USD 2 billion. This change aims to enhance financial cooperation, strengthen capital, and optimize ownership structures under the Mainland–Hong Kong and Mainland–Macao CEPA frameworks.