On August 7, the China Insurance Asset Management Association convened a membership deliberation and voting session, deciding to rename itself as the China Banking and Insurance Asset Management Association. This change is prompted by the integration of multiple bank wealth management companies into the association's membership. With this renaming, the association will comprehensively encompass the banking and insurance asset management sectors, solidifying its position as an industry self-regulatory body. Established in September 2014, the association is under the direct supervision of the State Administration of Financial Supervision and Regulation.