3. Shanghai Insurance Exchange launched

Shanghai Insurance Exchange is launched in the city on June 12, 2016. It is China's first insurance exchange platform. [Provided to chinadaily.com.cn]

China's first insurance asset trading platform, the Shanghai Insurance Exchange, was inaugurated on June 12, 2016 to boost transparency and efficiency in the world's third-largest insurance market. Its other purpose is to attract more international insurance and reinsurance giants to Shanghai. A national insurance investment fund was also established in the Shanghai free trade zone after the launch of the insurance exchange.