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    China Business
     Dec 15, 2005
Top insurance regulator outlines 4 policy trends

BEIJING - China will guide foreign insurance companies to take an active part in pension, health, agriculture and liability insurances, four key fields to be given priority in 2006, said China's top insurance regulator Wu Dingfu here on December 12.

Both domestic and foreign insurers will be supported to set up institutions and explore insurance business in the central and western China, and domestic insurers will be encouraged and



supported to introduce worldwide famous financial insurance group as strategic investors.

China will firmly push forward the development of the insurance industry through reform and opening up and accelerate its unification with international practices, Wu noted.

Meanwhile, Wu said, China will consolidate supervision and regulation of the sector and raise its internationalization level, by continuing to develop modern insurance regulatory systems and mechanisms, strengthening coordination with other regulatory departments, conducting exchanges with international insurance regulators and participating in formulating international insurance rules and regulatory principles.

(Asia Pulse/XIC)

 

 
 



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