Briefly

Online property premiums decline

The online property insurance industry in China saw a decline in earnings last year, industry data showed. Online property insurance premiums dropped 4.85 percent on a yearly basis to about 79.8 billion yuan ($12.2 billion) in 2020, according to the Insurance Association of China. Accident and health insurance, car insurance and insurance for shipping returned goods were the top three earners last year, with aggregate premiums accounting for 82.3 percent of the total.

Banking sector may see profit growth

The banking sector in the country is likely to see its profits grow by 5 percent during the first half of this year, the Bank of China Research Institute said in a recent report. Chinese commercial banks registered net profit decline in 2020 compared with 2019 largely due to narrower interest margins and sizable provisions, which will be eased in the first half of the year, according to the report.

Xinhua