FOREIGN INSURERS FAVOR SHANGHAI

AsiaInfo Services

08-13-2002

Foreign Insurers Favor Shanghai

SHANGHAI, Aug 13, 2002 (AsiaPort via COMTEX) -- Insurance giants from overseas are being drawn to Shanghai with its population of 16 million, a per-capita gross domestic product of 4,500 US dollars and its close economic contacts with the outside world.

Shanghai municipality had 14 foreign-funded insurance firms by the end of last year, and at least three foreign insurance firms plan to set up Shanghai subsidiaries this year, according to the Shanghai Office of the China Insurance Regulator