The accelerated development of economic globalization is the basic economic feature of today's world, and the degree of financial integration is deepening day by day. Among them, modern finance, including insurance, has become the core of modern economy, and has increasingly affected all aspects of economy and society in all countries of the world. Our government deeply understands the general trend of world economic development and the changing trend of world economic structure. Over the past 30 years, the reform and opening up have been unswervingly promoted, the national economic strength has been greatly enhanced, and it has been fully integrated into the world economic circulation system, which is the basic condition for the increasing internationalization trend of China's insurance industry.
China's sustained and rapid economic development for more than 20 years has become a powerful driving force for the internationalization of the insurance industry. 1979 from 2006 to 2006, China's GDP grew at an average annual rate of 9.6%, which was the fastest growing country in the world and three times the average growth rate of the world economy in the same period. Since 2002, the insurance industry in China has been growing at an average annual rate of 65,438+08.2%, becoming one of the fastest growing industries in the national economy. In 2007, China's premium income ranked ninth in the world. The long-term strong growth of China's economy and insurance industry has strongly attracted foreign insurance companies. However, the insurance industry in China is still in the primary stage of development. In 2005, the global average insurance depth was 7.52%, and the average insurance density was 5 18.5 USD. In 2006, these two indicators in China were 2.8% and 43 1.3 yuan dollars respectively. The significant gap between the development of China's insurance industry and the world average shows the huge growth potential and development space of China's insurance market.
(2) China has fully fulfilled its commitment to the world, and the insurance industry has entered a new stage of full opening.
200 1 65438+2 With China's accession to the World Trade Organization, the insurance industry has made a commitment to enter the WTO, and implemented the market quasi-person policy of foreign-funded insurance companies in stages, which has made the opening of the insurance industry in China predictable, gradual and transparent. After a three-year transition period, by the end of 2004, the insurance industry in China had formed a new pattern of all-round opening with high level and wide scope. The comprehensive opening-up policy of China's insurance industry is still improving, which will certainly promote the internationalization level of China's insurance industry.
(C) The long-term structural adjustment of the insurance industry in China is an important foundation for the development of the insurance industry.
The strategic adjustment of China's economic structure is the economic root of the structural adjustment of the insurance industry. Over the past 20 years, China's industrial structure has been continuously upgraded, the process of industrialization and urbanization has been accelerated, the coordinated development of regional economy has been strong, the industrial gradient has shifted between the east, the middle and the west, the proportion of the tertiary industry has gradually increased, and some big cities have reached the level of developed countries. The strategic adjustment of China's economic structure has become the basic factor for the structural adjustment of the insurance industry, and it has also brought a strong impetus to the sustainable development of the insurance industry. The structural adjustment of the insurance industry is mainly promoted in four directions: first, the diversification and multi-level development of the insurance subject structure; Rationalization of regional distribution of insurance industry; Third, the coordinated development of reinsurance and direct insurance; Fourthly, the diversification of insurance fund utilization channels and the rationalization of its structure; Fifth, focus on the development of books in the insurance field.
(D) The continuous improvement and enhancement of China's financial system have created the necessary conditions for the internationalization of the insurance industry.
The main structure of the financial market has been continuously improved, the degree of participation has been continuously improved, and the forms of participation have become more diversified. The scale of the financial market is constantly expanding, and the influence of market coverage is constantly improving. In the stock market, the basic completion of the share-trading reform is of great significance to the effective allocation of resources, the improvement of the governance structure and social financing structure of listed companies, and the improvement of the efficiency of the use of insurance funds, and has a positive effect on the development and expansion of the insurance industry and its social influence and role. The development of money market and bond market has become the main places for insurance institutions to adjust their capital positions, manage liquidity and invest assets, which has created important basic conditions for the internationalization of the insurance industry.
Accelerate the reform of the foreign exchange management system and constantly optimize the institutional environment for overseas investment and operation of insurance institutions. In 2005, the People's Bank of China announced the implementation of a managed floating exchange rate system based on market supply and demand with reference to a basket of currencies. The further relaxation of foreign exchange control on current account and capital account has effectively promoted the international flow and development of trade, investment, technology and personnel at home and abroad. In July 2007, the China Insurance Regulatory Commission, together with the People's Bank of China and the State Administration of Foreign Exchange, issued the Interim Measures for the Administration of Overseas Investment of Insurance Funds. In August of the same year, the State Administration of Foreign Exchange successively issued the Notice on Domestic Institutions Retaining Foreign Exchange Income under Current Account and the Reply on Launching the Pilot Project of Domestic Individuals' Direct Investment in Overseas Securities Markets. The implementation of the new policy will further enhance the autonomy and convenience of domestic institutions in holding and using foreign exchange, promote domestic institutions and individuals to make full use of the international financial market to optimize asset allocation, diversify investment risks and improve capital gains, thus helping domestic institutions to strengthen capital management and promote the balance of payments.
Insurance companies seize the opportunity and develop rapidly.
Domestic and foreign insurance companies make full use of China's constantly optimized investment environment to achieve continuous expansion of business areas. Foreign insurance companies attach great importance to strategic long-term growth, corporate governance, risk management and steady operation. Their influence on China's insurance market and their role in economy and society are increasing. At the same time, China's insurance market is more and more closely linked with the international insurance market. As a new force in China's financial industry, Chinese-funded insurance companies constantly learn from the advanced management and market operation experience of foreign insurance counterparts in the increasingly fierce competition in the insurance market and exchanges and cooperation with foreign-funded insurance companies. With the strong support of national fiscal and taxation policies, industrial policies and financial policies, Chinese insurance companies have accelerated their enterprise restructuring and business development by virtue of their existing absolute market monopoly position, strong marketing network, localization advantages and national cultural advantages. On the one hand, they have insurance guarantee and funds in national economic and social development. On the other hand, through cooperation with foreign insurance companies, we will expand our business in the international market and grow into an international company.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.