China aims to raise premium to 5% of gross domestic product by 2020Reprints
China's government has unveiled measures to boost the insurance sector, Xinhua reported.
It aims to raise premium to 5% of gross domestic product by 2020, the State Council said. Insurance will be given a bigger role in the prevention and relief of disasters and accidents through the introduction of catastrophe insurance products. The insurance industry's total assets amounted to 9.4 trillion Chinese yuan ($1.515 trillion) as of June.