Evolution history of new China insurance industry (1949 ~ 2007) \ x0d \ x0d \1949: People's Republic of China (PRC) was founded and China People's Insurance Company was established in Beijing. \x0d\\x0d\ 1952: Foreign insurance companies have completely withdrawn from the insurance market in China. \ x0d \ x0d \ 1955: completely abolish the insurance broker system. \x0d\\x0d\ 1958: The domestic insurance business is completely closed. \x0d\\x0d\ 1980: Property insurance business resumed and China People's Insurance Company resumed business. \x0d\\x0d\ 1982: Reply to life insurance business. \x0d\\x0d\ 1984: People's Insurance Company of China is approved to set up an investment company, which can use part of its insurance reserve to invest. \x0d\\x0d\ 1986: Bank of Communications established the insurance business department (predecessor of China Pacific Insurance), which broke the monopoly of PICC in China. \ x0d \ x0d \ 1988: Ping An Insurance Company, the first joint-stock insurance company, officially opened. \ x0d \ x0d \ 199 1 year: China Pacific life insurance co., ltd, formerly known as the insurance business department of bank of communications. \ x0d \ x0d \ 1992: AIA Shanghai Branch, the first foreign life insurance company, was established, and the life insurance agent system was introduced. \x0d\\x0d\ 1994: China Ping An Insurance Company introduced foreign investment. \ x0d \ x0d \ 1995: The first edition of People's Republic of China (PRC) Insurance Law was issued. \x0d\\x0d\ 1996: started to operate separately, and China People's Insurance Company split its business to form PICC Property Insurance Co., Ltd., PICC Life Insurance Co., Ltd. and China Reinsurance Company. \x0d\ Hong Zhong Insurance, the first Sino-foreign joint venture life insurance company, was established in Shanghai. \ x0d \ x0d \ 1998: China Insurance Regulatory Commission was established. \x0d\ Sino-foreign joint venture life insurance companies such as Pacific Antai Life Insurance, Allianz Volkswagen and Jinsheng Life Insurance were established. \x0d\ The People's Bank of China issued the Table of Life Insurance Disability Degree and Insurance Payment Proportion, stipulating that the definitions of disability degree and insurance payment proportion in all newly signed business terms must be implemented according to the Table of Life Insurance Disability Degree and Insurance Payment Proportion from 1 July 19991. \ x0d \ x0d \ 1999: Insurance companies are allowed to enter the securities market indirectly through securities investment funds. \x0d\ Chinese mainland first insurance broker qualification examination. \x0d\ China Life Insurance Company was established with the approval of the State Council (formerly known as 1949 China People's Insurance Company and 1996 PICC Life Insurance Company). \x0d\ Everbright Yongming, Xincheng (Guangzhou) and other Sino-foreign joint venture life insurance companies were established. \x0d\ Ping An Insurance launched the first investment-linked insurance product-Century Financial Investment-linked Insurance. \ x0d \ x0d \ 2000: PICC International Holdings Limited was listed on the Hong Kong Stock Exchange. \x0d\ Chinese life insurance companies such as Minsheng Life Insurance, Oriental Life Insurance, Sino Life Insurance and Hengan Life Insurance were established. \x0d\ established Sino-foreign joint venture life insurance companies such as Bao Zhong Kanglian Life Insurance and Hengkang Tianan Life Insurance. \x0d\ China Pacific Insurance launched the first universal life insurance product-Changfa Pingan Fu. \x0d\\x0d\ 200 1: The mainland was granted WTO entry, and three foreign-funded companies, new york Life Insurance, Metropolis Insurance and Japan Life Insurance, obtained business licenses. \x0d\ China Insurance Association was established. \ x0d \ x0d \ 2002: The CIRC cancelled the qualification of insurance companies to invest in securities and funds, and the overseas use of insurance companies' funds. \x0d\ Taikang Life Insurance launched the first "guaranteed product"-bancassurance "assured financial management" investment-linked insurance. \ x0d \ x0d \ 2003: CIRC allows foreign-funded life insurance companies to provide health insurance, group insurance and pension/annuity insurance services, and cancels the geographical restrictions on the establishment of branches by foreign-funded insurance institutions. \x0d\\x0d\ 2004: The first professional annuity insurance company, Taiping Pension Insurance Co., Ltd., was approved to be established. \x0d\ Ping An Insurance is listed on the Hong Kong Stock Exchange. \ x0d \ x0d \ 2005: The China Insurance Regulatory Commission and the China Securities Regulatory Commission jointly issued the Interim Measures for the Administration of Stock Investment of Insurance Institutional Investors, and insurance funds were allowed to enter the market directly. \x0d\ The new life table has been approved by the China Insurance Regulatory Commission. \x0d\ By the end of 2005, there were nearly 100 life insurance companies in China, including 40 foreign-funded companies and 92 foreign-funded insurance institutions set up offices in China. \x0d\ Ping An Bank opened in the attached, marking the beginning of the embryonic form of financial holding group under Ping An's name. \ x0d \ x0d \ 2006: The People's Bank of China issued Announcement of the People's Bank of China (2006) No.5, which made important adjustments to foreign exchange management policies and allowed insurance companies to purchase foreign exchange with their own RMB funds for overseas investment. \x0d\\x0d\ 2007: In 2007, insurance institute of china issued the "Criteria for the Use of Disease Definitions in Critical Illness Insurance", which made a unified standard for the diseases involved in critical illness insurance.