On Saturday, November 29, China's top financial regulator vowed to fast-track financial support after a deadly residential fire in the Hong Kong Special Administrative Region claimed 128 lives.
In a notice published on its website, the National Financial Regulatory Administration urged insurance institutions to launch proactive services and speed up claim settlements for affected clients. Chinese-funded banks in the Hong Kong Special Administrative Region were also called upon to intensify assistance, helping victims access emergency withdrawals, replace bank cards and passbooks, and settle insurance claims without delay.
The regulator asked banks and insurers to establish green channels and simplify procedures in line with on-the-ground needs. It also directed financial authorities in south China's Guangdong Province and Shenzhen City to coordinate resources and enhance the efficiency of disaster relief services across the border.
The fire broke out on Wednesday afternoon at Wang Fuk Court in Tai Po. First responders and local residents have rallied around the victims, while regulators and financial institutions work together to deliver timely relief.
Reference(s):
China's top financial regulator vows strong backing for HK fire relief
cgtn.com
