China's State Council announced a series of stringent measures aimed at improving the insurance sector and preventing financial risks. The measures include strict prohibitions on firms with illegal cross-business operations, excessive leverage, and serious credit violations from becoming major shareholders. Additionally, the qualifications of management personnel will be rigorously reviewed. These steps are part of a broader initiative to enhance supervision and mitigate risks in the country's insurance industry, as outlined in a statement released on Wednesday during the Global Public Security Cooperation Forum. China also proposed 10 measures to handle new risks at the forum.