The China Insurance Regulatory Commission (CIRC) has approved the trial of insurance reforms in Tianjin's Binhai New Area (BNA), a test field of business development in the northern financial hub of Tianjin, said Cai Weiguo, director of the CIRC Tianjin Bureau, at the city's financial work conference Tuesday.

Cai said Tianjin would step up its efforts in introducing a range of reforms concerning insurance enterprises, businesses and market as well as comprehensive financial services and utilization of insurance capital in the city's Binhai New Area.

The municipal government has drafted a plan on comprehensive insurance reforms in the Binhai New Area soliciting opinions from officials, companies and experts involved in the insurance industry sector, he said.

...

The full text is available in the May Issue of China Insurance.

(For more biz stories, please visit Industry Updates)