The branches and foreign exchange administration departments of the State Administration of Foreign Exchange (SAFE) in all provinces, autonomous regions, and municipalities directly under the Central Government, and SAFE branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo, branches of the China Insurance Regulatory Commission (CIRC), all insurance companies and designated China-funded foreign exchange banks:

To further advance administration streamlining and powerdelegation, deliver a good performance in foreign exchange administration for the insurance business, the SAFE and the CIRC hereby declare invalid the Circular of the State Administration of Foreign Exchange and the China Insurance Regulatory Commission on Release and Implementation of the Interim Regulations for Foreign Exchange Administration for Insurance Business (Huifa No. 95 [2002])

This Circular shall take effect on March 1, 2015.

State Administration of Foreign Exchange

China Insurance Regulatory Commission

January 7, 2015