Article 17
The relevant documents to be submitted by a Chinese applicant for the establishment of a joint-equity insurance company shall include business license (duplicate), articles of association, business structure, operation history, annual report and punishment record for the last three years.

Article 18
The person in charge of the preparation of a foreign-funded insurance company shall satisfy the following requirements:

(1) Academic degree above junior college level;
(2) Insurance or related work experience for over 2 years;
(3) No illegal and criminal record.

Article 19
Where an applicant applies for the extension of the preparation period according to the provisions specified in Article 11 of the Regulations, he shall, within 1 month before expiration of the original preparation period, submit a written application to CIRC and explain the reason.

Article 20
The preparation report mentioned in Item 1 of Article 11 of the Regulations shall summarize all the issues stated in other paragraphs under this article.

Article 21
The statutory capital verification organization mentioned in Item 4 of Article 11 of the Regulations refers to an accounting firm complying with the requirements of CIRC.

Article 22
The capital verification certificate mentioned in Item 4 of Article 11 of the Regulations shall include the following contents:

(1) A Capital Verification Report issued by a statutory capital verification organization;
(2) A copy of the original bank receipt voucher evidencing payment of the registered capital or working capital.

Article 23
The main person-in-charge mentioned in Item 5 of Article 11 of the Regulations refers to the general manager of the proposed branch of a foreign insurance company.

The letter of attorney issued to the person to be appointed as the main person-in-charge of the proposed branch of the foreign insurance company, refers to the letter of attorney issued to the person to be appointed as the general manager of the proposed branch of the foreign insurance company, which is signed by the Chairman of the Board of Directors or General Manager of the foreign insurance company.

The letter of attorney shall explicitly specify the scope of authorization granted to the authorized person.

Article 24
The senior managerial personnel of the proposed company mentioned in Item 6 of Article 11 of the Regulations shall have the qualifications specified by CIRC.

The senior managerial personnel of the branch of a foreign insurance company shall have the qualifications equal to those required for the counterparts in the headquarters of an insurance company.

Article 25
The materials regarding business place of the proposed company mentioned in Item 9 of Article 11 of the Regulations refers to the supporting documents evidencing the ownership or use-right of the business place.

The materials concerning other facilities related to the business mentioned in Item 9 of Article 11 of the Regulations shall include at least information about configuration of computer facilities, network construction and information management system.

Article 26
The following documents or materials to be provided by a foreign insurance company for an application for the establishment of a foreign-funded insurance company according to the requirements specified in the Regulations and these Rules, shall be notarized by a public notary legally established in the local country or region, or verified by the embassy or consulate of China in that country:

(1) The business license (duplicate) or valid copy of the business license;
(2) A letter of attorney issued to the proposed person-in-charge of the branch of a foreign insurance company;
(3) A letter of guarantee of a foreign insurance company to undertake the obligations of tax and duties payment and debts repayment on behalf of its branch in China.

Article 27
A foreign-funded insurance company may apply for establishing branches as needed according to business development.

The branch of a foreign insurance company can only conduct business within the territory of the province, autonomous region or municipality where the branch is located. Where the joint-equity insurance company or wholly-owned insurance company is prepared to conduct business in any other province, autonomous region or municipality outside its locality, it shall establish a branch in the place concerned.

A foreign insurance company may, according to actual circumstances, apply for establishing a central sub-branch or sub-branch, operating office or marketing service office. The establishment and management of marketing service offices shall be subject to other applicable regulations of CIRC, if any.

Article 28
Where a joint-equity or wholly-owned insurance company which has been established with a minimum registered capital of RMB200 million, applies for the first time for the establishment of a branch in every other province, autonomous region, or municipality outside its locality, it shall increase the registered capital by no less than RMB20 million.

By the time of applying for the establishment of a branch, if the registered capital of a joint-equity or wholly-owned insurance company has reached the amount as stipulated in the preceding paragraph, the company will no longer be required to increase its registered capital.

Where the registered capital of a joint-equity or wholly-owned insurance company has reached RMB500 million and where the solvency of the company is adequate, no increase of registered capital is required when the company applies for the establishment of a branch.

Article 29
A foreign-funded insurance company that applies for the establishment of a branch shall satisfy the following requirements:

(1) Its solvency margin shall comply with relevant regulations specified by CIRC.
(2) Its internal control system is sound and there is no record of punishment; where the operating period exceeds 2 years, there is no record of punishment in the most recent 2 years;
(3) It has senior managerial personnel of the branch with the relevant qualifications specified by CIRC.

Article 30
A foreign-funded insurance company that applies for the establishment of a branch shall submit an application to CIRC and provide the following documents in triplicate:

(1) A letter of application for establishment;
(2) Audited solvency status reports as of the end of the previous fiscal year and as of the end of the last quarter;
(3) A three-year business development plan and market analysis for the proposed branch;
(4) Resume(s) of the person(s)-in-charge of the organization preparation and relevant certificates.

Article 31
CIRC shall examine the application and decide, within 20 days after receiving the complete application documents, whether or not to grant approval; in case no approval is granted, CIRC shall inform the applicant in writing of the decision and explain the reason.