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English > Finance&Economy > Finance-Breakingnews>Guangdong Insurance Exceeds 100 Billion Yuan

Guangdong Insurance Exceeds 100 Billion Yuan

12-16 12:06 Caijing Magazine

Full article in Chinese: http://www.caijing.com.cn/2008-12-15/110039436.html

On December 15, the Guangdong Bureau of the China Insurance Regulatory Commission (CIRC) announced that total insurance company’s revenues in the province increased by 44 percent in the first 11 months of 2008, compared with the same period last year. Total revenue across the sector was 105.3 billion yuan. Guangdong province is the first province where the insurance industry's revenues have topped 100 billion yuan. The director of the Guangdong Bureau, Huang Hong, said that as the economy slows down, people will be inclined to use personal income to take out insurance or increase bank deposits.
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