Tuesday, December 2, 2008

China Decided to Resume Domestic Insurance Business

PICCApproved by the Council of the State, People's Insurance Company of China began to restore the domestic insurance business from 1980. Before that, the domestic insurance business had suspended for 20 years.

The meeting decided that Beijing, Tianjin, Shanghai City could gradually carried out it in 1980; the provinces and autonomous regions should choice 3~5 pilot cities.

The meeting also summed up the experience for foreign insurance business. According to foreign trade and foreign economic relations in the new situation, demanding to further improve service quality.

Originally Posted: China Business Daily
Author: Angulo Fu