The State Council on Wednesday discussed and approved a national
emergency response draft at an executive meeting on reforming the
country's insurance industry.
During the meeting chaired by Premier Wen Jiabao, participants said the draft was
necessary to help China prevent and reduce natural disasters,
accidents and public health epidemics.
The draft has been submitted by the State Council to the
Standing Committee of the National People's Congress (NPC) for
deliberation and approval.
During the meeting, participants also discussed other issues
relating to the insurance industry. They noted that the sector's
development was not compatible with the building of a "well-off"
and "harmonious society" despite its remarkable achievements in
recent years.
With China's economy growing so rapidly, ordinary people have
the opportunity to gain a better understanding and knowledge about
insurance. Moreover, their demand for insurance continues to
grow.
?
Therefore, insurance companies should establish a market-oriented
system, be honest and put people first.
The industry's main tasks for now are to develop pensions and
health insurance schemes in urban and rural areas to improve
China's overall social security system.
Efforts should also focus on ensuring production safety.
Insurers were also urged to deepen reforms and better prepare
themselves for competition from international players.
(Xinhua News Agency June 2, 2006)