Jun 01, 2023 03:20 AM

FINANCE

China Moves Forward With Plan for Shanghai International Reinsurance Market

By Wu Yujian and Denise Jia

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What’s new: China will issue detailed implementation rules for establishing an international reinsurance trading market in Shanghai, the financial regulatory agency said Wednesday.

Shanghai, already China’s financial center, has sought since 2019 to develop a global reinsurance hub to rival London, Hong Kong, and Singapore. It issued guidelines in 2021 to advance the effort.

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