New Market, New Regulation and New Prospect – The Chinese Perspective

Wu Dingfu ()
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Wu Dingfu: CIRC, No. 15 jin rong dajie, Xicheng District, Beijing, China 10032.

The Geneva Papers on Risk and Insurance - Issues and Practice, 2006, vol. 31, issue 1, 17-24

Abstract: China is a new insurance market attracting worldwide attention. Meeting the golden opportunities of development, it is growing fast with enormous potential though it remains in the primary stage of development. This new market brings up the new relationship between the development of the insurance sector and the overall social and economic situation. It is the overall objective to build a harmonious society in China, and the growth of insurance is an important guarantee. Development is the primary task for the insurance regulation in China. Risk prevention and risk mitigation are the core contents of insurance regulation. It is expected that in the near future, insurance will become not only an important force in the financial field in China but also an essential guarantee for the Chinese people. To drive forth the amalgamation of the international insurance sector and the global economic and social developments, the paper proposes four recommendations. The Geneva Papers (2006) 31, 17–24. doi:10.1057/palgrave.gpp.2510068

Date: 2006
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