The State Financial Regulatory Commission and the Shanghai Municipal People’s Government have issued a joint notice for the re/insurance industry outlining measures to accelerate the development of the Shanghai International Reinsurance Center.
The Shanghai International Reinsurance Center officially launched in October 2024, building on the establishment of the international board for reinsurance trading, and the Shanghai Global Reinsurance Platform in 2023.
In order to develop Shanghai into a global reinsurance hub, China’s National Financial Regulatory Administration and the Shanghai municipal government have outlined a number of steps required to thoroughly implement the CPC Central Committee’s strategic plan and the State Council’s support for Shanghai, with a view to building a leading reinsurance centre and promoting the high-quality development of China’s reinsurance market.
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