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1st Development Forum for Chinese Insurance and Retired Community held
     Yesterday the 1st Development Forum for Chinese Insurance and Retired Community, themed "Integrated Development of Commercial Insurance and Retired Community in the New Era", opened in Ningbo. Wei Yingning, former Vice Chairman of the China Insurance Regulatory Commission and Yao Qinghai, Party Secretary and President of the Insurance Society of China (ISC) were present. Liu Changchun, Member of the Standing Committee of the CPC Ningbo Municipal Committee and Vice Mayor of Ningbo attended and addressed the forum. Chai Lineng, Director of the Administrative Committee of Ningbo Meishan Bonded Area introduced the investment environment of Meishan Bonded Area.
    Steered by the Ningbo Municipal People's Government and ISC, hosted by the Administrative Committee of Meishan Bonded Area, the Financial Affairs Office of Ningbo Municipal People's Government, Meishan (China) Insurance and Retired Community Alliance (MIRCA) and the ISC Insurance and Retired Community Committee (proposed), the forum discussed how commercial insurance companies effectively support elderly care in China, sought an innovative way for the effective integration of the insurance industry with the elderly care industry, and provided valuable theoretical and practical results for elderly care in China.
    On behalf of the CPC Ningbo Municipal Committee and the Ningbo Municipal People's Government, Liu extended warm congratulations on the opening of the forum, and expressed warm welcome and heartfelt thanks to all leaders, guests and friends present. In recent years, a series of national early pilot practices such as National Insurance Innovation Comprehensive Pilot Zone have taken place in Ningbo, and the People's Government of Ningbo Province approved of building Ningbo "Belt and Road" Construction Comprehensive Pilot Zone this September, said her. All these have created new major strategic opportunities for the development of Ningbo. As China's first national insurance innovation comprehensive pilot zone approved by the State Council, Ningbo has attracted more and more insurance companies, enterprise groups and insurance talents, and become a viable land for the innovative development of China's insurance industry.
    The 10 to 15 years to come will see the rapid development of the elderly care cause, said Liu. Elderly care insurance is an important part of social insurance. As the third pillar of old-age security, commercial insurance and elderly care insurance have played significant roles in providing guarantee of a healthy life for the aged. She hoped that Ningbo would be built into a place of resource agglomeration in the field of global old-age asset investment, and the forum would constantly be held in Ningbo as an important achievement of the building of the national insurance innovation comprehensive pilot zone.
    Chai said that Meishan Bonded Area has the inherent gene of opening and innovation, exceptional ecological resource, a unique way of innovative development and the goal of innovation-guided development. To better serve the building of Ningbo "Belt and Road" Construction Comprehensive Pilot Zone, Meishan is making all-out efforts to push forward the construction of "Meishan Free Trade Island and five pilot zones in Meishan". He hoped that the attendees would visit Ningbo often and walk around in Meishan, to jointly create and share the development dividend of Meishan.
    At the forum, more than 200 important guests from insurance regulatory departments, industrial associations, industrial societies, insurance institutions, experts and scholars, real estate companies, building enterprises and elderly service agencies exchanged ideas on the subject. As important results of the forum, ISC and MIRCA jointly released China Insurance and Retired Community Development Report 2017, and the ISC Insurance and Retired Community Committee was proposed to be established. China Insurance and Elderly Care Industry Investment Fund, initiated by Sequoia Capital and MIRCA, will settle in Meishan Marine Finance Town, with a total scale of RMB 100 billion and a first-tranche scale of RMB 50 billion.
 
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