Advertise
Resources
Member, Beacon International Group, Ltd.
The China Insurance Regulatory Commission said that the country's insurance sector posted a 54% decrease in profits in the first half of 2016, Reuters reported.
The sector's profits d 105.6 billion Chinese yuan ($16 billion) in the first six months of the year. Premium income increased 37% year on year to CNY 1.88 trillion during the period, the CIRC said. The industry's low profits and investment returns was a result of falling interest rates, a gloomy stock market and the nation's economic slowdown, said Duan Haizhou, deputy head of the CIRC.