The Monetary Authority of Macao will host the 12th Quadripartite Meeting on November 29, 2012 at Macao Four Seasons. The one-day meeting will begin at 9:00 a.m. and participants include representatives from the China Insurance Regulatory Commission, Guangdong Bureau, Shenzhen Bureau, Office of the Commissioner of Insurance in Hong Kong and the Monetary Authority of Macao.

On account of the close business cooperation between the insurance sectors in Guangdong, Hong Kong, Macao and Shenzhen, coupled with the introduction of new insurance products as well as the need to respond to ongoing changes in market development and the demand for innovation, regulators need to maintain close contact in order to reinforce supervisory cooperation. For this, the related regulators have agreed to establish a regular meeting mechanism starting from the year of 2002 onwards. Each regulator will take turn to organize quadripartite meeting for the purpose of sharing information on market development, opportunities and challenges encountered by the respective insurance sector.

The 2012 Quadripartite Meeting will be organized by the Monetary Authority of Macao. The purposes of this meeting are to explore ways to exploit opportunities created by the Central Government, deepen cooperation among the four regulators, as well as to pursue stable market development and enhance governance.