Insurers ramp up efforts in financial opening-up

Recent moves by Chinese insurers to advance two-way opening-up can help in furthering the high-quality development of China's financial industry, industry leaders and market mavens said.

Taiping Life Insurance has, for instance, improved services to foreigners who hold Chinese permanent residence ID cards. As of early May, 82 foreign clients holding such ID cards had purchased 242 policies from Taiping Life.

This is in line with the National Financial Regulatory Administration's requirements, which said in December that financial institutions should adapt their services to provide a more convenient experience for foreigners.