Business leaders call for safer finance

ThefinancinggrowthtaskforceoftheBusiness20summitwillurgeG20leaderstoimprovesupervisionofthefinancialsector,andpromoteinclusiveandgreenfinancingtofurtherprotectconsumers'interestsandseekmorehealthygrowth,thetaskforce'schairmansaidonMonday.

MiaoJianmin,whoisalsopresidentofChinaLifeInsurance(Group)Co,saidhisteammembersarekeentointroduceservicesincludingmobilebankingproductsandmicroinsurance,aswellasfurtherrelaxingfinancingsupplyrestrictionstoencouragefinancialinstitutionstoprovidemoresupporttotherealeconomy.

TheB20isamajorsupportingfacilityfortheG20.Throughtaskforcemeetingsandsummits,theB20collectstheopinionsofworldbusinessleadersanddevelopsconsensus,itthenprovidespolicyrecommendationstotheG20Summit,contributingtotheG20leaders'decisions.

Thefinancinggrowthtaskforcehas87members,includingBlackRockInc,StandardCharteredBankandIndustrialandCommercialBankofChinaLtd.

Ithasdrawnupadraftreportregardingtheseissues,whichwillbeapprovedbytheBusiness20summitandsubmittedtotheG20SummitinHangzhouinSeptember.

MiaosaidChinaLife,oneofthecountry'slargestinsurancecompaniesbyassetvolume,hasalreadybeguntooffermoreflexibleinclusivefinancingservicessuchasmicroinsurancetopeoplewhoarelivingunderthepovertylineinChinatogainbetterassistancewhentheyfacehealthandlivingdifficulties.

Eagertointegratewiththegovernment'splantofurthercutthenumberofpeoplewhoarelivinginpoverty,ChinaLifeoffersaccident,healthcareanddiseaseinsuranceservicestoChineseresidents,especiallythosewhoarelivinginruralareas,withasmallamountofpremium.

ChinaLife'smicroinsurancenowcoversmorethan34provincesandmajorcities,withmorethan2.82millionpolicyholders.Itwillcontinuetoexpandthisserviceduringthe13thFive-YearPlan(2016-20).

"TheB20summitwillhavesixissuesonitsagenda:financinggrowth,tradeandinvestment,infrastructure,smallandmedium-sizedenterprisedevelopment,employmentandanti-corruption,"saidYinZonghua,vice-chairmanoftheChinaCouncilforthePromotionofInternationalTrade.

(CHINA DAILY)