CIRC report: In 2020, the business of foreign insurance institutions in China grew by 18%, which was 14.5 percentage points higher than the national average level.

On November 19th, the website of the China Insurance Association released the "China Insurance Industry Social Responsibility Report". This is the sixth consecutive year that the CIA has organized the industry to compile a social responsibility report, systematically presenting the specific measures and outstanding performance of the insurance industry in fulfilling social responsibilities in 2024. The report also points out that the insurance industry is deepening reform and opening up, focusing on key areas of reform, deepening comprehensive reform of car insurance, promoting the expansion and improvement of agricultural insurance, developing responsibility insurance for safety production, and accelerating the transformation and upgrading of life insurance products. The industry is also deepening the integration of reporting and management, strengthening the linkage of assets and liabilities, and accelerating marketing system reform. Focusing on the key tasks of stabilizing foreign trade and foreign investment, the insurance industry plays a role in risk protection and financing credibility enhancement, contributing to the construction of a new development pattern of dual circulation at the international and domestic levels. The industry is continuing to deepen its opening up to attract foreign insurance institutions to enter the Chinese market, actively participate in international exchanges and cooperation, and contribute Chinese wisdom on the international stage.