Insurance

Insurance industry contributes USD2.33 trillion for real economy in China

The banking and insurance regulator of China said that the insurance industry in the country has contributed a total of USD2.33 trillion for the real economy at the end of the starting quarter of the current year in China.

Data published by the China Banking and Insurance Regulatory Commission (CBIRC) showed that the total insurance sector assets in China saw an increase of 13.66 percent in the first quarter of the year to set at USD3.04 trillion.

The commission also said that the operation’s outstanding insurance capital has reached a total of USD2.72 trillion in the same period, marking an icnrease of 13.9 percent compared to a year earlier.

The CBIRC is going to improve the policy guidance and provide full play to the insurance capital’s advantage in order to help the high-quality development.

MENAFN

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