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State Council: CN Shall Support Development of Floating Return Insurance, Deepen Comprehensive Reform of Auto Insurance
Recommend 31 Positive 54 Negative 20 |
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The State Council of China issued Certain Opinions on Strengthening Supervision and Prevention of Risks to Promote the High Quality Development of the Insurance Industry proposing that a high-quality development framework for the insurance industry with steadily expanding coverage, increasingly comprehensive protection, continuously improving services, stable and balanced asset allocation, adequate solvency, sound and effective governance and internal control will be initially formed by 2029. The opinion proposes to continue to deepen reforms in key areas, improve the product pricing mechanism and strengthen the use of actuarial techniques. China should promote product transformation and upgrading, and support the development of floating return insurance. By focusing on commercial insurance for NEVs, the authorities should deepen the comprehensive reform of auto insurance. AAStocks Financial News |
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