Is it correct to say that existing products and services do not need to be reviewed for consumer rights protection according to Order No.9?

Not correct. According to the Administrative Measures for the Protection of Consumers' Rights and Interests in Banking and Insurance Institutions, banks and insurance institutions should establish a review mechanism for the protection of consumers' rights and interests, improve the review system, and review the protection of consumers' rights and interests in the design and development, pricing management, agreement formulation, marketing and publicity of products and services provided to consumers, so as to prevent violations of consumers' legitimate rights and interests from happening at the source. Therefore, it is incorrect to review the protection of consumers' rights and interests. The Administrative Measures for the Protection of Consumer Rights and Interests of Banking Insurance Institutions was promulgated by Order No.9 of the Bank of China Insurance Regulatory Commission on February 26th, 2022, and shall come into force on March 26th, 2023.