The China Development Forum 2017 was hosted by the Development Research Center of the State Council and co-organized by the China Development Research Foundation on 18 March at the Beijing Diaoyutai State Guesthouse. Mr. He Chunlei, Executive Vice President of the China Reinsurance Group, made a keynote speech on the unit of “Belt and Road: a new landscape for development and opening up”.
The Executive Vice President Mr. He Chunlei expressed that securing the way for “Belt and Road” indicates going out with Chinese enterprises and for the entire industrial chain to form a community that shares the same fate, setting the insurance mechanism as an institutional arrangement to be effectively included in the overall layout of “Belt and Road”, sharing ups and downs, collaboratively developing, achieving the win-win benefit.
On one hand, Chinese enterprises going out face an operational environment of greater complexity than China, leading to the need for the participation of the Chinese insurance industry in securing the way for “Belt and Road”. The Chinese insurance industry aligns with Chinese enterprises, has rich experience in local customer services, and offers various risk diversification and risk mitigation solutions focusing on risks faced in operation. On the basis of understanding and respecting regulations of the host countries and industrial rules, the Chinese insurance industry further established and perfected overseas service network to expand the “friend circle”, have in-depth cooperation and share benefits with local key insurance companies, and offer more convenient and efficient services and guarantee for China’s overseas benefits. Meanwhile, it is to achieve the advantages of stability of the long-term insurance capital, serving as a strong support for Chinese enterprises’ investment projects, such as overseas infrastructure.
On the other hand, the Chinese insurance industry will side with key insurance enterprises of the hosting countries to share the concept and experience in the steady and rapid development of the Chinese insurance industry, achieve technological and management advantages, expand the width and depth of the local insurance, and realize the win-win benefit. Meanwhile, by continuously introducing advanced management experience and mature operational models from the international insurance market, the Chinese insurance industry will jointly promote the transformation and upgrade of the domestic insurance market.
China Reinsurance (Group) Corporation, as the only state-owned reinsurance group in China, under the guidance of the China Insurance Regulatory Commission (CIRC), is fully capitalizing on the platform advantage of the reinsurance mechanism to actively explore various ways of gathering the power of the Chinese insurance industry, jointly put forward the reform of the supply side for the insurance industry securing the way for “Belt and Road”, side with key insurance enterprises of hosting countries to have in-depth cooperation and share benefits, and strive to offer more comprehensive risk protection and more convenient and efficient insurance services to Chinse enterprises going out and for China’s overseas benefits.
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