China Launches Measures to Make Shanghai a Global Reinsurance Hub

China’s National Financial Regulatory Administration and the Shanghai municipal government have jointly launched a series of measures to develop Shanghai into a global reinsurance centre, the two authorities announced on Tuesday. Specifically, the measures aim to facilitate the smooth flow and efficient allocation of various production factors in the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone, whilst encouraging large enterprises to centralise the management of their risk protection needs within the area. Domestic insurance companies will be encouraged to register reinsurance contracts, claims, and related information on the Shanghai International Reinsurance Registration & Exchange, the authorities said. Reinsurance institutions will also be supported in raising capital, expanding shareholdings, and issuing capital-boosting instruments. In addition, efforts will be made to leverage the Lingang New Area’s strengths in cross-border cooperation to attract insurance institutions to explore new growth opportunities, the authorities stated. The two authorities added that the measures are part of a broader effort to build Shanghai into an international financial centre, which is one of the key tasks set out in China’s 15th Five-Year Plan (2026-2030).