From 4 to 9 September, the 2020 China International Fair for Trade in Services (hereinafter referred to as the “CIFTIS”) co-organized by the Ministry of Commerce and the People’s Government of Beijing Municipality was held in Beijing with the theme of “Global Services to Achieve Mutual Sharing and Benefit”. The current session of the CIFTIS represents the first major international economic and trade event held in China through a combination of online and offline means since the outbreak of COVID-19, and is the largest comprehensive exhibition in the area of global trade in services as well as a leading exhibition in the area of trade in services in China. The CIFTIS together with Canton Fair and Import Expo, is named as the three major exhibitions in China that are open to the public.
China Re actively participated in the current session of the CIFTIS as an exhibitor where the Company’s development achievements and professional strengths were displayed through platforms such as the integrated preface hall, cloud exhibition hall and showcase selection in a comprehensive way. Our exhibition representatives attended various important events and delivered speeches to fully promote and highlight the brand image of China Re Group as the national reinsurer.
From 4 to 5 September, Ren Xiaobin, Vice President of the Group Company, participated in the Global Trade in Services Summit on behalf of the Company and led a team to have a tour at the CIFTIS.
On 5 September, at the showcase exchange and award ceremony, the project “China Reinsurance: Professional Risk Management Services for Global Clients” submitted by China Re Group was successfully awarded as a model project of global trade in services. Mr. Zuo Huiqiang, international business director of China Re Group and deputy general manager of China Re P&C, received the award on behalf of the Group and delivered a speech on the project theme.
At the speech, Mr. Zuo Huiqiang elaborated on the important role of reinsurance in serving the insurance industry as well as social and economic development, and shared the extensive practical experience of China Re Group as the national reinsurer and the dominant player of China’s reinsurance industry to provide domestic “going out” companies and global customers with risk management services. He pointed out that China Re Group, as an important provider of global risk protection, has participated in a number of global catastrophe and man-made accident claims, actively taking part in the establishment of various insurance and reinsurance support systems and service platforms. China Re Group will continue to take the overseas risk management of China’s going out companies as its own responsibility, consistently provide global customers with professional risk management solutions and unswervingly support the nation’s opening up reform, thus safeguarding the prosperity and development of China’s global trade in services.
On 8 September, at the international seminar on health and wellness tourism, Zhai Qingfeng, a party committee member of China Re Life, delivered a speech and discussed on the theme of “Insurance Support for Health and Wellness Tourism in the New Era to Promote Industrial Integration and New Development”, and highlighted that in-depth integration of the industry is the only way to achieve high-quality development of the industry as the supply-side reform of the insurance industry is coincident with the robust demand from the health and wellness tourism industry at the time. China Re Life will, while fully relying on the unique advantages of data technology and product research and development, continue to promote the integration of insurance with health and wellness tourism industries by creating a new model comprising product +, data + and industrial integration, so as to provide more distinctive protection products and services for the health and wellness tourism market, thus effectively guaranteeing a better life for the people.
At the China Fintech Development Forum held on 8 September, Mr. Feng Jian, general manager of the information technology center of China Re Group and general manager of China Re Catastrophe Risk Management Company Ltd, delivered a speech on the theme of “Building a New Ecosystem for Catastrophe Risk Management”. He pointed out that China Re Group established China Re Catastrophe Risk Management Company Ltd, the only insurance technology company in China focusing on the research and development of catastrophe models and the digitalization of catastrophe risk management, in 2018. Adhering to the “data-based, model-centered, scenario-based and ecological collaboration” development philosophy, the company opened up the catastrophe database in China, successfully developed China’s first “China Earthquake Catastrophe Model” with independent intellectual property rights, which has been successfully applied in the insurance industry. At present, the company is in the process of research and development of China Typhoon Catastrophe Model. In the future, China Re Group will make use of scenario applications to build a new digitalized ecosystem for catastrophe risk management in serving national governance.
As a pioneer of going out state-owned insurers and an explorer of risk management, China Re Group proactively responded to the national strategy, served for the country and its people, and continued to deepen the area of risk management services, marking remarkable achievements. It is worth mentioning that China Re Group gave full play to the role of reinsurance in the CIFTIS, and its subsidiary, China Re P&C, as the exclusive reinsurer, introduced the insurance plan for event cancellation to cover for the holding of the CIFTIS as scheduled.
Looking ahead, China Re Group will unwaveringly adhere to the mission of “diversifying economic risks and assisting the robust development of the insurance industry. While persistently devoting efforts to consolidating risk protection, building platforms, promoting innovation and optimizing services, the Group will firmly push ahead its high-quality development to a new level, and make unique reinsurance contributions to help expand the opening-up reform and support the liberalization of global trade in services.