On August 21st, financial market sources reported that the General Office of the National Financial Regulatory Administration has issued the Non-Auto Insurance Comprehensive Governance Action Plan.

The plan proposes to strengthen the product regulatory policy framework. This includes revising product development guidelines to improve management requirements and enhance regulatory guidance. It also entails refining product filing standards, optimizing key filing points, and dynamically publishing a list of product-related issues.

Furthermore, the plan calls for a phased, risk-category-by-risk-category approach to re-filing existing non-auto insurance products, aiming to accelerate the process of clearing outdated products and improving overall quality.