China credit insurance should be developed: experts  

综述：中国保险业调整转型 信用保险空间巨大

正在北京举行的第八届北京国际金融博览会上，中国保险业如何转型发展，成为关注焦点。中国保险业产品结构单一，应加速结构转型的共识日渐“发酵”，与会多名专家纷纷建言，中国保险业转型宜积极发展信用保险。

Beijing (CNS) -- Experts at the 8th Beijing International Finance Conference on Sunday discussed the transformation of China's insurance industry and agreed that credit insurance should be developed.

Business entities in China have been exposed to high trade risks brought by serious competition, Jin Jianqiang, chairman of the Insurance Association of China, said, adding that the insurance industry should offer risk management products in accordance with their wishes to avoid losses.

Zhang Chenghui, director of the Institute of Finance (Development Research Center, under the State Council), said that the potential for credit insurance in China is huge. The insurance industry should focus on that instead of credit guarantees, which are mostly undertaken by the government or commercial insurance companies in foreign countries, he said.

Zhao Xijun, a finance professor at Renmin University of China, said the deposit insurance system put forward in the 12th Five-Year Plan for the Financial Industry would open more space for credit insurance.