Date
12 December 2017

Farm insurance sector welcomes foreign players, CIRC says

China is encouraging eligible foreign insurers to provide agricultural-related insurance products, Xiang Junbo {項俊波}, chairman of the China Insurance Regulatory Commission (CIRC), told a media conference at the ongoing National People’s Congress in Beijing on Tuesday. The regulator will not pose any barrier as long as the foreign insurers have a proven ability to operate the business, such as having enough service units in their coverage areas, Xiang said at the conference which was aired live over the internet. China is the second-largest market for agriculture-related insurance. About 45 percent, or 733,333 square kilometers, of sown areas in China are covered by insurance, Xiang said.

– Contact HKEJ at [email protected]

MY/AC/CG

 

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