Financial reform to boost growth, benefit investors (3)

In 2011, China's insurance industry rose to sixth place in the world and the influence and competitiveness of banking and insurance market at home and abroad had also been strengthened, achieving remarkable results in exploration and promotion of multi-form and multi-channel agricultural insurance system and actively participation in construction of multi-level social security system.

"The key role of agricultural insurance includes risk diversification and smooth income, so that farmers do not have to depend on Heaven for food," said Zhu Junsheng, professor with Capital University of Economics and Business. The scale of agricultural insurance of China ranked second in the world in 2010, which mainly benefits from the promotion of central government.

Chairman of China Insurance Regulatory Commission Xiang Junbo said that the future focus will be put on the role of insurance industry in improving modern financial system, social security system, agricultural security system, disaster prevention and reduction system and social management system.

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