China sets national standards for insurance industry

Pedro Gonçalves
clock • 1 min read

Beijing has pushed ahead with the country's first national standard for the insurance industry as China seeks to boost the development of the second-largest insurance market in the world. The national standard is composed of 817 entries and sets fundamental definitions of various insurance industry terms, according to the China Banking and Insurance Regulatory Commission (CBIRC). It covers fundamental terminology of all areas in China's insurance sector, including insurance products, co...

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