A severe mudslide originating from the Nepalese side occurred at around 10:30 AM on August 26, causing significant casualties and leaving several people missing at the Gyirong Port in Gyirong County, Shigatse City, Tibet.

Following the incident, the National Financial Regulatory Administration moved quickly to direct the banking and insurance sectors, along with the local financial regulatory body, to prioritize disaster response and claims settlement services.

In line with the administration's directives, the Tibet Financial Regulatory Bureau has dispatched a task force to the affected area. Insurance providers have activated their emergency protocols without delay, initiating policyholder assessments and working alongside local government and relevant authorities on disaster management efforts.

Given the scale of the disaster and the established mechanism for handling such events within the insurance industry, the National Financial Regulatory Administration has officially activated a Level Two emergency response for the sector. Additionally, it has instructed banking institutions to provide essential financial support services during this period.