cleaning with real teeth
The sale came amid a broader regulatory reckoning. Caixin reported in March that China’s National Financial Regulatory Administration has scheduled comprehensive on-site inspections in 2026 of five major insurers — Ping An Life, PICC Property & Casualty, PICC Pension, Taiping Pension and Taikang — as well as nine asset managers. These are not routine check-ins: previous NFRA rounds have been fined several million yuan for misreporting and unapproved sales practices, and Ping An Life’s inclusion comes seven years after its last review, with regulators adding its decentralized branch structure followed a surge in consumer complaints.
