[!--begin:htmlVideoCode--]f0944f94e38a4d00bf8ea99e470ecddb,0,1,16:9,newPlayer[!--end:htmlVideoCode--]

CCTV News: The People's Bank of China announced on September 4 that in order to maintain sufficient liquidity in the banking system, the People's Bank of China will launch a 500 billion yuan buyout reverse repurchase operation on September 7 using a fixed quantity, interest rate bidding, and multiple price winning bids. The expiration date is December 5, 2026 (extended in case of holidays).

Since 500 billion yuan of 3-month buyout reverse repurchases will expire in September, this means that the 3-month buyout reverse repurchases in that month will be a continuation of the same amount.

[!--begin:htmlVideoCode--]271c601faa0c47f1acf476375b848214,0,1,16:9,newPlayer[!--end:htmlVideoCode--]

"Insurance Law of the People's Republic of China (Revised Draft for Comments)": The State Administration of Financial Supervision and Administration publicly solicits opinions

Recently, the State Administration of Financial Supervision has publicly solicited opinions on the "Insurance Law of the People's Republic of China (Revised Draft for Comments)".

The main contents of the revised draft of the Insurance Law include: first, strengthening shareholder penetration supervision and bringing shareholders and actual controllers of insurance institutions into the scope of supervision; second, improving the prudential supervision system, strengthening regulatory requirements such as corporate governance, risk management, and internal control, improving solvency supervision, and strengthening asset and liability management.The third is to improve the risk disposal mechanism, improve risk disposal and market exit rules; the fourth is to strengthen insurance consumer protection, improve insurance contract rules, and further clarify the prohibition of sexual behavior of insurance institutions; the fifth is to increase the cost of violations, expand the coverage of legal liability, and increase the level of fines.

The main institutional framework of the current "Insurance Law" was formed in 2009 and revised twice in 2014 and 2015. However, as the insurance industry gradually returns to the origin of insurance, and new business formats, products and service models continue to emerge, the deficiencies in the original law regarding contract dispute adjudication, corporate governance constraints and risk disposal tools have become increasingly prominent.

Dong Ximiao, chief economist of China Merchants Union, said that the essence of this revision is to elevate the focus of insurance industry supervision from micro-examination of "whether business behaviors are compliant" to a systematic assessment of "whether the overall institution is sound."The revised Insurance Law will provide more complete legal tools for the supervision of the insurance industry and provide a more solid legal guarantee for the stable operation and high-quality development of the insurance industry.

[!--begin:htmlVideoCode--]d2b0c427c8b94626b882f6ba66359f67,0,1,16:9,newPlayer[!--end:htmlVideoCode--]

The China Securities Regulatory Commission solicits opinions on the new regulations on the supervision of private equity fund raising

On September 4, the China Securities Regulatory Commission solicited opinions from the public on the "Measures for the Supervision and Administration of Private Equity Fund Raising (Draft for Comment)".

The Measures focus on the key link of private equity fund raising, adhere to the principle of "seller must be responsible, buyer beware", refine the identification standards for qualified investors, consolidate the suitability and risk disclosure responsibilities of managers and sales agencies, improve the safety management and control mechanism of raised funds, clarify supervision and legal responsibilities, further strengthen the risk defense line in the private equity fund raising process, and promote the high-quality development of the private equity industry.