Chinese Vice-Premier Huang Ju said Wednesday China will continue its reform of the insurance sector through improved corporate governance to minimize operation risks.
Addressing senior officials of the China Insurance Regulatory Commission in Beijing, the vice-premier said China's insurance sector should set up a long-term mechanism for risk control through further reforms.
Those efforts will make sure the insurance sector plays a role in building a harmonious society, Huang said.
He praised the progress made by the insurance sector in risk management, expanding its business and contributing to the country's social and economic development.
Progress has been made in turning the country's state-owned insurance companies into stock-holding firms, and in supervising improvement of their compensation capability and corporate governance, said the vice-premier.
He called on the sector to promote insurance innovation and offer insurance services to rural areas while paying close attention to the work of human resources management for sustainable development of the sector.
(Xinhua News Agency December 15, 2005)
