Finance: Premium revenue to exceed 1,000 billion yuan
(People's Daily Online)
Updated: 2006-10-24 14:33
The annual premium revenue across China in 2010 is
predicted to double against 2005 figures and exceed 1000 billion yuan. The value
of assets controlled by the insurance industry in 2010 is expected to quadruple,
reaching 5000 billion yuan.
China's bond market has developed rapidly over the past decade. Many new
services have been launched including REPO and cash bond transactions,
short-term financing bonds, asset-backed securities, Panda Bonds and more in the
past ten years, said Liu Mingkang, director of Chinese Banking Regulatory
Commission (CBRC). The balance of bonds deposited by China's central bond
depository system is as much as 9000 billion. A total of 50,000 billion yuan of
cleared bonds have been process by the Chinese Government Securities Depository
Trust & Clearing Co, Ltd. in the first nine months of this
year. (For more biz stories, please visit Industry Updates)
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