According to the South China Morning Post, Clement Cheung Wan-ching, CEO of Hong Kong's Insurance Authority, stated that newly implemented mainland Chinese tax regulations have led some mainland visitors to adopt a wait-and-see approach when purchasing insurance in Hong Kong during the third quarter, as clients need time to study the relevant rules. This remark was made during a media briefing on the sidelines of an insurance conference on Thursday; the provided report summary did not list sales declines or specific tax rates.