Four Departments Unveil Plan to Boost Insurance Coverage for Domestic NEV and Other Export Enterprises

Published: Apr 23, 2025 10:14

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Four Departments: Strengthen Insurance Coverage for Domestic NEV Enterprises and Others
On April 21, the People's Bank of China, the Financial Regulatory Authority, the State Administration of Foreign Exchange, and the Shanghai Municipal Government jointly issued the "Action Plan for Further Enhancing Cross-border Financial Service Convenience in the Shanghai International Financial Center."
The plan mentions increasing insurance support for export enterprises. It emphasizes enhancing insurance coverage for key export enterprises in sectors such as domestic commercial aircraft, NEVs, and large complete sets of equipment. It also promotes cooperation between insurance companies and reinsurance companies to form insurance consortia, thereby improving the ability to cover special risks. Insurance companies are encouraged to provide insurance services for related fields such as shipping, based on China's new export advantages, trends, and industry characteristics, and to continuously optimize insurance products.

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