China and Russia have agreed on the development of the insurance market

Almaty. November 17. Silkroadnews - China Council for the control of insurance operations and the Central Bank of Russia signed a memorandum of understanding on cooperation in the field of insurance, informed Chinese media.
"The document sets out the basic principles according to which the two parties intend to assist each other and exchange information for the development of the national insurance market", - says the publication.
The parties see great opportunities for cooperation in the field of travel insurance, financing major infrastructure projects, risk control and reinsurance. Such cooperation will promote the implementation of China's initiative of building the economic zone of the Silk Road and Maritime Silk Road of the 21st century, the document says.
Insurance market in China in recent years is growing rapidly. The total amount of insurance payments in 2014 in the country exceeded 2 trillion yuan ($314.7 billion), an increase of 17.5% in annual terms.