Shenzhen: Support insurance institutions to grow larger, stronger, and better

The Shenzhen Municipal Bureau of Local Financial Supervision issued a notice soliciting public opinions on the "Shenzhen Action Plan for the Insurance Industry to Support Technological Innovation and Industrial Development (2026-2028) (Draft for Public Consultation)." It mentioned supporting insurance institutions to grow larger, stronger, and better. It supports financial enterprises to establish legal headquarters in Shenzhen, encourages domestic insurance legal entities and foreign insurance institutions to set up subsidiaries in asset management, industrial investment, healthcare, and elderly care, and supports eligible Hong Kong insurance companies to establish life insurance companies, property insurance companies, and insurance holding companies in Shenzhen, with municipal and district authorities providing support in accordance with laws and regulations. It also supports insurance institutions to explore the establishment of insurance innovation centers in key areas, specializing in services for technological innovation and industrial development. (Securities Times)