Chinese official Li Yunze highlights the need for accelerating insurance industry development to improve China's financial market structure and stability.

Chinese official Li Yunze stated that accelerating insurance industry development can help improve China's financial market structure, optimize financial resource allocation, and enhance financial stability. China's insurance industry assets account for only 7% of its total financial industry assets, compared to the international average of 20%. Li emphasized the importance of promoting high-quality development in the insurance sector to support China's modernization.

June 19, 2024
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