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China to launch insurance aimed at global market Sunday
China wants to be a global center of insurance excellence and plans to launch its own insurance market to rival other international players. That launch looks like it will take place this weekend (June 12) according to a report in the South China Morning Post.
The Shanghai-based insurance market will offer trading facilities and services for reinsurance, shipping and specialty lines with the aim of becoming a major global player in financial services by 2020. It will mean a strengthening of China’s insurance regulations and standards to bring domestic insurers up...