In addition, the commission eliminated some laws and regulations unfit for the regulations of the WTO and permitted another four Chinese companies to cooperate with foreign partners in life insurance. The commission also strengthened cooperation with international insurance organizations and joined the International Insurance Regulatory Association. Ma claimed that China was trying to improve insurance laws and issued a series of laws and regulations. A new supervisory system will be built. Meanwhile, China has encouraged competition among different branches of the insurance companies by enlarging their rights and permitting them to do business in regions overseen by other branches.
Branches can now get big orders from customers in other regions.
The commission also strengthened the rules on illegal activities. Today, the China Insurance Regulatory Commission has established 31 agencies in the country, with a nationwide supervisory system already up.