Friday, April 3, 2020

Insurance regulatory body set up in Tibet

Must Read

China Factory Activity Unexpectedly Expands, but Economy Cannot Shake Off Virus Shock

BEIJING—Factory activity in China unexpectedly expanded in March from a collapse the month before, but analysts caution that...

Can we stop the protectionist wave?

Author: Gary Clyde Hufbauer and Euijin Jung, PIIE Globalisation was under threat even before the pandemic. US President Donald Trump...

Looking beyond Tsai’s big election win

Author: Gerrit van der Wees, George Mason University and George Washington University President Tsai Ing-wen and her Democratic Progressive Party’s...

Chinese banks brace for bad debt blowout as coronavirus pande…

Three leading Chinese state-owned banks reported that their non-performing loan ratios had stayed largely stable in 2019 even as...

CCP Virus Devastated China’s Poultry Industry

News Analysis China’s lockdowns, strict quarantines and travel restrictions on hundreds of millions of its citizens to contain the...

Tibet’s Insurance Regulatory Commission was inaugurated in Lhasa Saturday amid rapid development of the insurance industry in the southwestern Chinese plateau region.

The commission, as the Tibetan arm of China Insurance Regulatory Commission (CIRC), would play an important role in maintaining financial stability and promoting economic growth in Tibet, said Wei Yingning, vice chairman of CIRC.

Wei was in Lhasa for the inauguration.

The new body will map out plans for the insurance industry’s development, oversee the business activities of local insurance companies and intermediary services and maintain a sound market order, said Wei.

Last year, Tibet reported 400 million yuan (58.8 million U.S. dollars) in insurance premiums, an average 21.4 percent annual increase from 2000.

Insurance companies paid a total of 760 million yuan in compensation to their clients from 2006 to 2010, according to figures provided by Tibet’s regional government.

The insurance sector employs more than 1,000 people in Tibet. &$

&$Source: Xinhua&$&$

Read the original here:
Insurance regulatory body set up in Tibet

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

China Factory Activity Unexpectedly Expands, but Economy Cannot Shake Off Virus Shock

BEIJING—Factory activity in China unexpectedly expanded in March from a collapse the month before, but analysts caution that...

Can we stop the protectionist wave?

Author: Gary Clyde Hufbauer and Euijin Jung, PIIE Globalisation was under threat even before the pandemic. US President Donald Trump set the tone by declaring...

Looking beyond Tsai’s big election win

Author: Gerrit van der Wees, George Mason University and George Washington University President Tsai Ing-wen and her Democratic Progressive Party’s (DPP) momentous election victory on...

Chinese banks brace for bad debt blowout as coronavirus pande…

Three leading Chinese state-owned banks reported that their non-performing loan ratios had stayed largely stable in 2019 even as the economy slowed amid a...

CCP Virus Devastated China’s Poultry Industry

News Analysis China’s lockdowns, strict quarantines and travel restrictions on hundreds of millions of its citizens to contain the spread of the CCP virus...

More Articles Like This

- Advertisement -
Thailand Business News