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2 months ago
China says will continue crackdown on illegal HK insurance products -regulator
June 16, 2017 / 2:31 AM / 2 months ago

China says will continue crackdown on illegal HK insurance products -regulator

BEIJING, June 16 (Reuters) - China's insurance regulator said on Friday it will continue its months-long crackdown on illegal sales of Hong Kong insurance products by mainland agencies which it said have led to asset outflows and even money laundering.

The regulator, China Insurance Regulatory Commission, launched a drive late last year to curb illegal sales of Hong Kong insurance products.

It has withdrawn one mainland agency's permit and shut down 35 websites and public accounts on wechat, China's main messaging platform. (Reporting by Beijing Monitoring Desk and Josephine Mason)

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