After two rounds of consultation, the China Insurance Regulatory Commission (“CIRC“) released the final version of the Administrative Measures for Equity Interests in Insurance Companies (the “New Measures“) on March 7, 2018, which will take effect on April 10, 2018. The New Measures introduce a number of restrictions in relation to shareholdings in insurance companies. A single shareholder will not be permitted to make investments amounting to more than one third of the share capital of insurers, subject to certain exceptions. The cap will not, in principle, be applied retrospectively to existing shareholdings in insurers, although certain additional regulatory measures may be taken in relation to insurers where a single shareholder holds more than one third of the equity. The New Measures have a limited impact on foreign-invested insurance companies.