China plans insurance exchange

China’s government is planning to launch a Shanghai-based insurance exchange to trade different insurance products, a party member said yesterday. Wu Dingfu, the head of the China Insurance Regulatory Commission, told the National People’s Congress the plan would further the city’s drive to become an international financial hub. He did not specify details of the exchange but state media reports said the products traded would be likely to include property, liability, reinsurance and group life insurance.