The insurance regulator CIRC has refuted rumours that it plans to revive qualifying examinations for insurance agents.
In a statement, the CIRC said that the rumours circulating on the social media, the web and other media, were false. It warned the public to be on the alert and to avoid being misled or cheated. The regulator said that it reserves the right to pursue legal action against those who spread the falsehood.
In August 2015, the CIRC formally abolished insurance agents' qualification examinations.
Following this move, the number of agents ballooned in China.
At the end of June this year, the number of insurance agents reached 7.45 million across the country, 879,000 more than at the start of the year. At the end of June 2015, the number of agents stood at 4.71 million.