The China Banking and Insurance Regulatory Commission ("CBIRC") has recently released the Circular on Strengthening Administration of Insurance Marketing and Publicity Campaigns on Self-media (the "Circular").
The Circular sets out arrangements in seven aspects, including "setting up and improving the administrative regime for insurance marketing and publicity campaigns on self-media" and "intensifying the compliance education and professional ethics education of practitioners". In particular, the Circular provides for that all insurance companies and insurance agencies shall establish and optimize their systems concerning the examination, management and control, monitoring, inspection, emergency response, assessment and accountability with respect to information published on their respective self-operated official media platforms and information released by their insurance practitioners on the personal self-media, and that administrative requirements on the publication of insurance marketing and publicity information on the official self-media and personal self-media of their insurance practitioners shall be as strict as or stricter than existing rules regarding the administration of insurance marketing and publicity materials distributed through offline channels. Furthermore, the Circular notes that it is of necessity to monitor insurance marketing and publicity information released on self-media in a tougher manner and have superior competent authorities fulfill their responsibilities for supervising insurance marketing and publicity practices of insurance practitioners under their respective jurisdiction.