Core Viewpoint - The establishment of four new financial institutions in Shanghai marks a significant step in the development of the Shanghai International Reinsurance Center, enhancing the openness and competitiveness of China's reinsurance market [1][2]. Group 1: Development of Shanghai International Reinsurance Center - The Shanghai International Reinsurance Center has entered a fast track of development, driven by supportive policies and active market participation [1][2]. - The launch of the international reinsurance trading market in June 2023 signifies a shift from a "one-way opening" to a "two-way opening" in China's reinsurance market [2]. - The establishment of the Shanghai International Reinsurance Registration Trading Center is a key milestone, serving as China's first international reinsurance registration platform [2]. Group 2: Participation of International Players - Major international reinsurance companies, such as AXA Global Re and Hannover Re, have established operations in Shanghai, indicating confidence in the potential of the Chinese reinsurance market [2][3]. - The collaboration between the newly established reinsurance centers and the Shanghai International Reinsurance Registration Trading Center is expected to enhance data flow efficiency and transparency in transactions [3]. Group 3: Increased Openness of the Insurance Industry - The acceleration of the Shanghai International Reinsurance Center's development reflects the increasing openness of China's insurance industry [4]. - Since 2018, over 30 new measures have been introduced to enhance foreign investment in the banking and insurance sectors, including the removal of foreign ownership limits [4][5]. - The Chinese government encourages foreign insurance institutions to establish legal entities and branches in China, as well as to invest in domestic insurance companies [5].

Core Insights - The Shanghai International Reinsurance Registration Trading Center has achieved a trading scale of 2.1 billion yuan, marking a significant breakthrough in its development from "0 to 1" [1][2] - The center is moving towards a new development stage with a complete business model of "inward + outward + brokerage" [1][2] Development Milestones - The "International Board" of Shanghai Reinsurance officially launched in June 2023, with the establishment of the Shanghai International Reinsurance Registration Trading Center in October 2024 [2] - The Shanghai Financial Office has reported significant progress in institutional aggregation, platform construction, and regulatory improvement [2] Future Development Focus - The Shanghai Insurance Exchange has outlined a three-phase development path: Phase 1 focuses on domestic transactions, Phase 2 on cross-border transactions, and Phase 3 on global risk governance [2] - The focus is on attracting institutions to register and conduct business through differentiated regulatory policies and local incentives [2] Data Cross-Border Solutions - The Lingang New Area has introduced the world's first operational guidelines for cross-border data flow in the reinsurance sector, establishing a complementary mechanism for efficient and secure data solutions [3] - The area is also developing industry clusters with high growth potential, such as new energy vehicles and integrated circuits, which increase the demand for risk protection [3] Regulatory and Market Environment - Suggestions for a differentiated regulatory system include support in solvency frameworks, investment management, and reporting requirements to attract international reinsurance capabilities [4] - Continuous efforts are needed from market, protection, and regulatory perspectives to enhance the operational rules of the reinsurance registration trading center [4][5] Collaborative Environment - The Shanghai Financial Office emphasizes the importance of a coordinated regulatory environment to support the establishment of a comprehensive and differentiated regulatory system [5][6] - The goal is to create a market-oriented, rule-of-law, and international financial business environment to position Shanghai as a leading hub for reinsurance [6]

Core Viewpoint - The construction of the Shanghai International Reinsurance Center is a significant practice for China's high-level financial opening and an important part of Shanghai's international financial center development [1] Group 1 - The Shanghai International Reinsurance Center construction has entered a "fast track" due to joint efforts from various parties [1] - Reinsurance, as "insurance for insurance," inherently possesses international attributes, playing a crucial role in enhancing the competitiveness and influence of international financial centers [1] - The government is committed to implementing the decisions of the central government and local authorities to build a modern reinsurance market system characterized by concentrated business, active transactions, and well-established regulations [1]

Core Viewpoint - The establishment of the Shanghai International Reinsurance Registration and Trading Center marks significant progress in the development of Shanghai as an international reinsurance hub, supported by regulatory policies and government initiatives [1] Group 1: Policy and Regulatory Developments - The optimization of the support policy system has been a key focus since the release of the implementation opinions for accelerating the construction of the Shanghai International Reinsurance Center [1] - The regulatory framework has been enhanced to facilitate the growth of the reinsurance industry in Shanghai [1] Group 2: Operational Enhancements - The reinsurance industry chain has achieved a closed-loop operation, indicating improved integration and efficiency within the sector [1] - The trading rules within the center have been refined to better support market activities [1] Group 3: Platform Development - Efforts are being made to expand and improve the quality of the registration and trading center platform, which is crucial for attracting more participants and transactions [1] - The digital transformation and upgrade of the center are being accelerated to enhance operational capabilities and service offerings [1]

Core Viewpoint - Shanghai is actively promoting institutional financial opening while ensuring risk control, aiming to enhance its status as an international financial center by attracting foreign investment and fostering innovation in the financial sector [1][4]. Group 1: Financial Regulatory Developments - The Shanghai Financial Regulatory Bureau is implementing a work plan to enhance cross-border investment and financing convenience, with a pilot program for non-resident acquisition loans already yielding its first project [2]. - A mechanism has been established to support small and micro enterprises in foreign trade, providing targeted financing services and special credit quotas, resulting in over 240 billion yuan in loans disbursed to nearly 20,000 foreign trade enterprises by the end of April [2]. - As of now, Shanghai hosts over 50 foreign banks and insurance institutions, with a vibrant mix of domestic and foreign financial entities, reflecting a competitive financial landscape [3]. Group 2: International Reinsurance Center Developments - The Shanghai International Reinsurance Registration and Trading Center has been officially established, with a series of supportive policies rolled out to enhance its operational framework [5][6]. - A complete reinsurance industry chain has been formed in the Lingang area, with 21 reinsurance operation centers and 4 reinsurance intermediary institutions now in place [6]. - The trading center has registered 99 institutions and facilitated nearly 16 billion yuan in international reinsurance premiums, with over 1,200 billion yuan in registered business transactions [7]. Group 3: Future Directions - The Shanghai Financial Regulatory Bureau plans to continue promoting institutional financial opening and enhance cross-border risk monitoring to support the city's financial center development [4][8]. - Efforts will focus on digital transformation, providing various online services to facilitate cross-border transactions and improve operational efficiency for domestic and foreign institutions [7].

Core Insights - The Shanghai Financial Regulatory Bureau's Deputy Director Wang Xinzhe announced significant progress in the establishment of the Shanghai International Reinsurance Center, highlighting the registration of 99 institutions on the international reinsurance business platform as of the end of April [1] - The platform has facilitated nearly 1.6 billion yuan in cumulative premium transactions and over 4 million registration transactions, amounting to more than 120 billion yuan in premiums [1] - The initiative aims to enhance underwriting capacity by establishing joint risk pools for commercial aircraft and green shipping insurance, supporting key industries in their international expansion and transformation [1] Summary by Categories - **Institution Registration** - As of April, there are 99 registered institutions on the international reinsurance business platform [1] - **Transaction Volume** - Cumulative premium transactions reached nearly 1.6 billion yuan, with over 4 million registration transactions totaling more than 120 billion yuan in premiums [1] - **Capacity Optimization** - The initiative includes the establishment of joint risk pools for commercial aircraft and green shipping insurance, aimed at providing services to support key industries [1]

4月23日，中国人民银行举行新闻发布会，介绍《上海国际金融中心进一步提升跨境金融服务便利化行动方案》（以下简称《行动方案》）有关情况。 尹江鳌介绍，从我们国家再保险市场两个主要的指标来看，再保险发展空间还是比较大的。第一个指标是再保险的市场排名，2024年我国再保险市场规模大 概316亿美元，占全球再保险保费规模约3.5%，我国排在全球第七位，但我国直保市场规模大概有8000亿美元，占全球直保保费规模7.2万亿美元的11%，这 是一个估算数，我国直保保费居全球第二位。从这些指标来看，我们国家再保险市场的地位与国家的经济体量以及国家直保市场地位相比，目前还不匹配。 另外一个指标是再保险的渗透比例，2024年我国再保险保费占直保保费的比例大概是4%，全球这个比例大概是12.5%，我们比例明显低于全球平均水平。 尹江鳌表示，下一步，金融监管总局将持续强化与有关部门和上海市政府等的协调配合，积极推动建设要素聚集、业务集中、交易活跃、规则完善的登记交 易中心，支持将上海打造成为具有国际竞争力的再保险中心。 金融监管总局财产保险监管司司长尹江鳌在介绍上海国际再保险中心建设时提到，2024年我国再保险市场规模大概316亿美 ...

中国人民银行当天举行新闻发布会，介绍近日印发的《上海国际金融中心进一步提升跨境金融服务便利 化行动方案》有关情况。 尹江鳌在发布会上介绍，当前上海国际再保险中心建设的制度机制逐步建立，机构聚集初具规模，截至 2025年3月末，已有22家再保险运营中心和再保险分公司等机构在上海临港设立。与此同时，登记交易 业务平稳起步，且今年登记金额和交易金额有望跃上新台阶。 他指出，中国再保险发展空间较大。2024年中国再保险市场规模约为316亿美元，占全球再保险保费规 模的3.5%，排在全球第七位，但中国直保市场规模约有8000亿美元，约占全球直保保费规模的11%，居 全球第二位。 中国国家金融监管总局财产保险监管司司长尹江鳌23日介绍，目前上海国际再保险中心建设取得阶段性 进展。其中，业务方面，上海国际再保险中心业务登记规模已超1100亿元人民币。 他表示，国家金融监管总局下一步将持续强化与有关部门和上海市政府等的协调配合，积极推动建设要 素聚集、业务集中、交易活跃、规则完善的登记交易中心，支持将上海打造成为具有国际竞争力的再保 险中心。(完) （文章来源：中国新闻网） "从这些指标看，中国再保险市场地位与中国经济体量以 ...