Shanghai Insurance Exchange launched

The Shanghai Insurance Exchange was launched on Sunday, which, as China's first insurance asset trading platform, will boost transparency and efficiency in the world's third-largest insurance market.

Chen Wenhui, vice-chairman of the China Insurance Regulatory Commission, said the exchange should increase the number and types of insurance products available to meet the fast-growing demand for insurance protection.

According to CIRC data, total assets of China's insurance industry has more than doubled from 5 trillion yuan ($760 billion) in 2010 to 12 trillion yuan in 2015.