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CN Insurers Jumble after New Ver. of 'Ten National Principles' Promulgated
China’s State Council recently issued the “Several Opinions on Strengthening Supervision and Preventing Risks to Promote the High-Quality Development of the Insurance I...
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CN Insurers Jumble after New Ver. of 'Ten National Principles' Promulgated
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China’s State Council recently issued the “Several Opinions on Strengthening Supervision and Preventing Risks to Promote the High-Quality Development of the Insurance Industry”, which is the third version of the “Ten National Principles” of the insurance industry after 2006 and 2014.

HK-listed Chinese insurers were in a mixed bag. CHINA LIFE (02628.HK)  +0.080 (+0.671%)    Short selling $72.59M; Ratio 13.965%   dipped 0.72%. PICC P&C (02328.HK)  +0.080 (+0.781%)    Short selling $14.88M; Ratio 4.390%   dropped 1.56%. CPIC (02601.HK)  -0.400 (-1.896%)    Short selling $65.91M; Ratio 12.756%   sagged 3%. NCI (01336.HK)  +0.240 (+1.439%)    Short selling $31.63M; Ratio 15.424%   lost 0.63%. SUNSHINE INS (06963.HK)  +0.010 (+0.412%)    Short selling $83.40K; Ratio 0.881%   faded 0.8%. PING AN (02318.HK)  +0.450 (+1.210%)    Short selling $595.00M; Ratio 23.276%   lifted 0.4%. CHINA TAIPING (00966.HK)  +0.120 (+1.233%)    Short selling $15.55M; Ratio 11.686%   added 0.1%. PICC GROUP (01339.HK)  +0.030 (+0.949%)    Short selling $25.04M; Ratio 14.660%   gained 0.68%.

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The Opinions proposed that a framework for the high-quality development of the insurance industry will be initially formed by 2029, with coverage steadily expanding, protection becoming increasingly comprehensive, services continuously improving, asset allocation sound and balanced, solvency adequate, and governance and internal control sound and effective. The insurance regulatory system will be more robust, and the regulatory capacity and effectiveness will be substantially improved. By 2035, the insurance industry will basically form a new pattern with a complete market system, rich and diversified products and services, scientific and effective supervision, and strong international competitiveness.

The Opinions emphasized the need to strictly control the entry of the insurance market, strictly supervise insurance institutions on an ongoing basis, seriously rectify illegal and irregular insurance practices, and prevent and resolve insurance risks in a forceful, orderly and effective manner.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-09-20 16:25.)

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