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Beijing Welcomes Foreign Insurance Business:Beijing Mayor
Beijing Mayor Liu Qi met with Robert Scott, president of Britain's largest life insurance company CGU plc. Thursday, and said Beijing welcomes CGU to engage in insurance business and direct venture capital here.
Liu said the insurance industry is one of the fastest-growing sectors in Beijing, which is now working to optimize the social security system and the insurance market.
The mayor pointed out there are broad prospects for China's insurance business, and upon entry into the WTO, Beijing's insurance market will soon open up to foreign insurance companies.
Scott said the CGU wants to start business in Beijing as soon as possible, and the agreement between China and the EU on China's entry into the WTO has promised great business opportunities in China.
The CGU is also the fifth-largest insurance company in Europe, with total assets and funds under its management estimated at 218 billion US dollars.
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