China issues guidelines to boost high-quality development of sci-tech insurance

Researchers Li Gang, Liu Jianghua, and Zhou Benzhe (R-L) discuss the operational status of the all-superconducting magnet at the ultra-low temperature high magnetic field quantum oscillation experimental station of the Institute of Physics of the Chinese Academy of Sciences in Beijing, capital of China, on Jan. 26, 2026. (Xinhua/Jin Liwang)

BEIJING, March 2 (Xinhua) -- China on Monday made public new guidelines to accelerate the high-quality development of sci-tech insurance, among broader efforts to strengthen technological self-reliance.

The document, which was issued by the Ministry of Science and Technology, the National Financial Regulatory Administration, the Ministry of Industry and Information Technology, and the China National Intellectual Property Administration, sets out 20 measures across six areas, aiming to build a sci-tech insurance system that is better aligned with technological innovation.

The country's sci-tech insurance has played a stabilizing role in offsetting the high costs, long development cycles and elevated risks associated with technological innovation. In 2025, it provided about 8 trillion yuan (about 1.16 trillion U.S. dollars) in risk coverage, with premiums rising 44 percent year on year.

The new guidelines call for improved risk-sharing mechanisms for major technological breakthroughs, as well as strengthened insurance support for national strategic technological forces.

For tech-focused small and medium-sized enterprises, insurers are encouraged to offer simpler, more affordable products with greater ease of access and convenient claims processes.