On July 7, 2015, the China Insurance Regulatory Commission (CIRC) officially issued its approval for the opening of China Railway Property Insurance Captive Co., Ltd. This is the second captive insurer to commence operations in mainland China, following the CNPC property captive.

        According to the approval from the CIRC, China Railway Property Insurance Captive has a registered capital of RMB 2 billion, is registered in Beijing, and has Tan Guangming as its legal representative. The business scope approved by the CIRC covers the following insurance business within China Railway Corporation and its affiliated entities: property damage insurance, liability insurance, credit insurance and surety insurance; short-term health insurance and accident insurance; reinsurance of the above business; the use of insurance funds as permitted by national laws and regulations; and other business approved by the CIRC.