Insurance boost
By Feng Jianmin |
April 28, 2012, Saturday
|
Print Edition
Print Edition
CHINA'S insurance regulator has encouraged private funds in Wenzhou City to set up or take a stake in insurance companies as the city seeks financial innovation.
The China Insurance Regulatory Commission has drafted a plan to settle the industry entry and exit mechanism this year amid the drive, CIRC said in a statement yesterday.
CIRC Chairman Xiang Junbo said the insurers should focus on the needs of Wenzhou's small enterprises, industrial zones and the agriculture sector.
Wenzhou, Zhejiang Province, was selected by the State Council as a pilot financial reform zone to formalize abundant but less-regulated private funds.
The China Insurance Regulatory Commission has drafted a plan to settle the industry entry and exit mechanism this year amid the drive, CIRC said in a statement yesterday.
CIRC Chairman Xiang Junbo said the insurers should focus on the needs of Wenzhou's small enterprises, industrial zones and the agriculture sector.
Wenzhou, Zhejiang Province, was selected by the State Council as a pilot financial reform zone to formalize abundant but less-regulated private funds.
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