Forum highlights China's insurance industry
The Chinese insurance market shows a strong vibrancy and resilience, becoming the world's second largest insurance market behind the US.
The Documentary "Insurance of a Great Power" is the first-ever production that chronicles the rapid development of China's insurance industry, and has since been commended on CCTV.com.
As early as the 19th century, the modern concept of insurance was first introduced to China by foreign traders.
Today, the Chinese insurance market shows a strong vibrancy and resilience, and has become the world's second-largest insurance market behind the US.
The documentary looks back on the history of the establishment of the People's Insurance Company of China in 1949, and generations of endeavors by economists to improve the competitiveness of the Chinese insurance sector through reforms.
Insurance is now seen as a rising force to support economic and social development. It has helped to relieve risks and losses in natural disasters and offer welfare protection.
On Friday, the documentary's producer CCTV.com also hosted the first China Insurance Forum in Shanghai in cooperation with the Shanghai Insurance Exchange.
The first China Insurance Forum is hosted in Shanghai on December 23, gathering economists and industry professionals.
The forum gathered economists and industry professionals to exchange ideas on the new potential of the market, and discuss ways to face economic challenges of the pandemic with diverse financial services and aids.
It also focused on the elderly-care services and the social security system as the number of people above 60 years old in China has reached 267 million, accounting for 18.9 percent of the total population.
"We should be well prepared for new opportunities in the post-pandemic era," said renowned Chinese economist Fan Gang.
As early as the19th century, the modern concept of insurance was first introduced to China by foreign traders.
