Media: Hong Kong plans to launch consultation on the definition of mainland insurance clients.

According to a report in Ming Pao on Monday citing the Executive Director of the Hong Kong Insurance Authority, Gordon Leung, the Insurance Authority plans to redefine the category of "Mainland visitors" because current regulations require Mainland Chinese people to come to Hong Kong in person to purchase insurance. Under the new identity definition, the Insurance Authority plans to allow individuals who are not permanent residents of the mainland to purchase insurance in Hong Kong without coming in person. This move is expected to help Hong Kong attract mainland Chinese people living overseas, especially high-end clients. Formal consultations will be held next quarter, and guidelines on defining customers and related regulations will be issued later this year.