Insurance sector to open further

Leading industry official says more foreign firms will be welcomed to invest in China

China is going to further open its insurance market to foreign investors, and regulators are striving to make it more attractive to foreign insurance institutions, said Chen Wenhui, vice-chairman of the China Insurance Regulatory Commission.

Speaking at a meeting with executives of 10 foreign insurers in Beijing on Wednesday, Chen said institutions that have already been operating in the China market are encouraged to enter more sectors including casualty, retirement, and healthcare insurance.