On June 15, the European Insurance and Occupational Pensions Authority (EOIPA) and the China Insurance Regulatory Commission signed a Memorandum of Understanding to set up joint work programs and pursue joint activities.

The main objectives of the MoU are:

1. To build a practical framework for exchange of supervisory information.
2. To update each other on the developments in the regulatory and supervisory frameworks for insurance and private pensions.
3. To increase mutual understanding on the Chinese (C-ROSS) and European (Solvency II) supervisory regimes for insurance.