Fu Fan, chairman and executive director of China Pacific Insurance (Group) Co.,
Ltd., said Shanghai and Hong Kong should coordinate to establish a complementary
reinsurance model of an offshore hub plus an onshore center. Shanghai will
leverage its large domestic direct-insurance market and Lingang institutional
innovations to accelerate an onshore reinsurance center; Hong Kong will serve as
the offshore hub with a mature reinsurance ecosystem, international-aligned
rules and cross-border service experience. He said integrating the two markets
is a key step from one-way opening to two-way opening for China’s reinsurance
sector, helping build independent risk-pricing capacity and strengthening the
risk-resilience of Chinese firms’ global expansion.
