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October 28, 2004
Ostensible prosperity in China insurance industry
When it suddenly wakes up, China's burgeoning insurance industry finds that bubbles almost reach its "waist".
Hao Yansu, dean of the Insurance Department of the Central University of Finance and Economics, hit the point directly, "In 2003, as much as forty percent of revenue in China's insurance industry was bubbles."
Since this summer, Hao has organized people to analyze the 2003 statistics from China Insurance Regulatory Committee (CIRC). Under the magnifier of generally accepted international statistics practices, the bulging bubbles in China's insurance industry are very clear.
Posted by Tom Troceen