stics show that in 2005, the per capita GDP in Guangdong was 2,980 US dollars, or one-fifth of the related figures in South Korea and Taiwan and less than one-eighth of the related figures in Hong Kong and Singapore. Such per capita GDP level was only equivalent to the GDP level of South Korea and Taiwan twenty years ago and that of Hong Kong and Singapore thirty years ago.
Chinanews, Beijing MBT shoes sale, July 26 – With the gradual opening of China's insurance industry to the outside world MBT Shoes, foreign insurance companies have made rapid development in expanding their business in China. In particular, their investment linked insurance business has gained rapid progress in China.By the end of June, this year, about 45 foreign insurance companies from 15 countries and regions have set up more than 120 branch offices in China MBT shoes. During the first six months of the year, the original premium income made by foreign insurance companies reached 16.28 billion yuan. Foreign insurance companies now take up 4.38% of the market shares in China.Chinese and foreign insurance companies have different advantages in domestic insurance market, said Yuan Li, chairman of the Chinese Insurance Regulatory Commission (CIRC) when attending a press conference held by CIRC on Tuesday. Chinese insurance companies focus their business on domestic market. They usually have a large sales network in the country and know more about domestic market. Consequently, they have a better marketing capability than foreign companies. In contrast, foreign insurance companies set strict risk management standards in the companies. Foreign insurance companies usually have a team of professional staff, an advantage that domestic insurance companies do not have. Domestic insurance companies should learn from foreign insurance companies in risk management, company governance, and product development. On the other hand, foreign insurance companies should try to understand Chinese insurance market better and quicken their localization process, Yuan said.In the second Sino-U Related articles:

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