Source: Xinhuanet
06-29-2006 17:29
Chinese State Councilor Hua Jianmin said in Beijing Monday that the growth of insurance industry will help expand domestic consumption and export.
China issued a circular titled Suggestions on the Reform and Development of the Insurance Industry in Beijing Monday, saying the country will give priority to the development of non-life insurance, life insurance, reinsurance and insurance intermediary sectors.
At a national meeting on insurance industry held in Beijing Monday, Hua said the insurers need to improve their corporate governance, strengthen the management of insurance funds and broaden the investment of their assets.
Chinese Vice Premier Huang Ju wrote an instruction to the meeting, saying that the industry regulator needs to strengthen the supervision to prevent and decrease risks, and protect the interests of the insured.
Industry analysts said the country needs to put more emphasis on agriculture insurance, medical insurance and endowment insurance.
Related Story:
Govt offers suggestions for insurance industry
China's State Council, or the cabinet, has issued a circular titled Ten Suggestions on the Reform and Development of the Insurance Industry in Beijing Monday.
The circular said China's insurance industry will open to international competition while improving service standards. The country will give priority to the development of non-life insurance, life insurance, reinsurance and insurance intermediary sectors.
The cabinet said in the circular that insurers need to improve their corporate governance and service standards, strengthen the management of insurance funds and broaden the investment of their assets.
Editor:Chen Minji
