China has been handling insurance trade compliance issues reasonably well.[@@]
That’s the assessment of a team of researchers at the U.S. Government Accountability Office.
The team, led by Loren Yager, the GAO’s international affairs director, reviewed the state of U.S.-China trade relations for the leaders of the Senate Finance Committee and the House Ways and Means Committee.
In 2003, China responded to complaints from U.S. insurers by easing capitalization requirements for new insurance ventures in China and lifting certain geographic restrictions on insurance companies ahead of schedule, Yager writes in a letter describing the GAO trade review team’s findings.