China’s financial regulator unveiled a plan on Friday to enhance supervision and support the development of the property insurance industry, according to a statement.
The country will support qualified foreign financial institutions to invest in its property insurance market, and encourage domestic property insurance companies to optimize their offshore expansion, the statement said.
Additionally, the plan includes studying policy measures to promote the development of new energy vehicle insurance.
(Reporting by Ella Cao, Yukun Liu and Ryan Woo; editing by Mark Potter)
Photograph: A Chinese tourist peeks inside a red door of the Palace Museum inside the Forbidden City, which was the Chinese imperial palace from the mid-Ming Dynasty to the end of the Qing Dynasty, on May 18, 2011 in Beijing, China. (Photo by Feng Li/Getty Images)
Was this article valuable?
Here are more articles you may enjoy.
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
AM Best Upgrades Credit Ratings of Missouri’s Columbia 
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In 
