Former KE Strategic Director Li Jieru Joins Waterdrop as Head of Strategy and Capital Markets

　　# Today's Highlights

　　Today's Data

　　Zheng Bingwen: The share of commercial insurance in the expenditure structure still has room to increase by approximately 10 percentage points.

On May 18, a member of the National Committee of the Chinese People's Political Consultative Conference, Chinese Academy of Social Sciences WorldSocial SecurityDirector of Research CenterZheng BingweninGolden Qilin(603586,Stock Bar) InsurancePeakAt the forum, the discussion commenced with the financing structure, categorizing it into public financing, out-of-pocket payments, and commercial insurance. Zheng Bingwen stated that public financing accounts for 68% of the financing structure, already exceeding the OECD (Organisation for Economic Co-operation and Development) average; the out-of-pocket payment ratio stands at 28%, higher than the OECD's 14%. From a structural perspective, China still has considerable room to reduce its out-of-pocket payment proportion; regarding commercial insurance, China's share remains relatively low, only slightly higher than...Russia、slightly higher than Sweden, this indicates that the share of commercial insurance in the expenditure structure still has room to increase by approximately 10 percentage points. (Beijing News)

　　Company of the Day

　　China Life Plans to Reduce HoldingsBank of Hangzhounot exceeding 59.302 million shares

On May 17, Bank of Hangzhou announced in a statement that,China Lifeintends to, within six months after three trading days, through centralized bidding orBlock Tradereduce its holdings of a portion of the bank's shares through the specified method, totaling no more than 59.302 million shares (inclusive), representing no more than 1% of the bank's total ordinary share capital. As of the disclosure date of this announcement, China Life holds a total of 284.592 million shares of Bank of Hangzhou, accounting for 4.80% of the bank's total ordinary share capital. (Today's Insurance)

　　Another Shareholder of Beijing Life Insurance Plans to Transfer Equity: 4.99% Stake Offered for RMB 360 Million

On May 17, Beijing Equity Exchange disclosed an equity transfer project for Beijing Life Insurance. According to the disclosure, Beijing Supply and Marketing Cooperative Investment Management Center plans to list a 4.99% stake in Beijing Life Insurance for transfer at a base price of RMB 361.5805 million. Upon completion of the transfer, the center's shareholding percentage will decrease from 13.986% to 8.996%. (Today's Insurance)

　　China Life Insurance App Registered Users Surpass 100 MillionMobile InternetEntering the "100 Million Era"

On May 18, China Life officially announced that the registered users of the China Life Insurance APP have surged to 100 million, marking the full entry of China Life's mobile internet "e-services" into the "100-million era." Currently, the China Life Insurance APP, official WeChat account,WeChatMini Programs have become a high-speed channel connecting 100 million users, over 160 service offerings, and a vast array of information and products. This May, the App will also launch a brand-new senior-friendly version to further meet the personalized service needs of elderly customers.Requirements。In 2020, the company cumulatively provided 320 million online services to its customers, with monthly active users currently exceeding 8 million. （Jinri Bao）

　　Former KE Holdings Strategy Director Li Jieru Joins Waterdrop Inc.

Recently, Waterdrop Inc. has successively recruited several key talents, following the previous`Legend Holdings Corporation`Following the appointments of Legal Director Liu Nian and former MSD (China) Vice President Li Yue, Li Jieru, who previously served as Deputy Investment Director at China Life Equity Investment Co., Ltd. and Director of Strategy at KE Holdings, has also recently joined Waterdrop as its Director of Strategic Operations. Waterdrop stated that the company will continue to increase its investment in talent as always, aiming to build a Chinese equivalent of UnitedHealth Group within a decade. (Lieyunwang)

　　Xinhua Yixiang Community Unveiled in Beijing, Expanding Senior Care Layout in Key Regions

May 18,New China Life InsuranceThe First Large-Scale CCRCXinhuaThe launch ceremony of the Jiayuan · Yixiang Community was held in Yanqing, Beijing, marking the comprehensive rollout of the “Lexiang,” “Yixiang,” and “Zunxiang” three major community product lines within New China Life Insurance’s senior care industry layout, thereby achieving a complete closed loop in its elderly care service ecosystem. In the future, New China Life Insurance will focus onBeijing-Tianjin-Hebei、Hotspot cities such as the Yangtze River Delta, Pearl River Delta, and Chengdu-Chongqing City Cluster are exploring elderly care deployments to provide higher-quality products and services for the senior care market. (Today's Insurance)

　　Today's News

　　Current State of Insurance Digitalization: Over 70% of Insurers' Strategic Directions Remain Unclear

According to official data, among insurance companies implementing digital strategies, approximately 63.5% of decision-makers only possess a general framework for digital strategy formulation and application roadmaps, while about 71.9% of decision-makers frequently or even drastically alter strategic directions, conducting strategic resets and adjustments during the implementation and execution of digital initiatives. The fundamental reason for this situation is: InsurTech is a comprehensive technological category that integrates multiple technologies such as cloud computing, big data, artificial intelligence, and blockchain. Conversely, insurance business operations correspond to product design, sales,Claims...and multiple other business lines, encompassing multi-dimensional, differentiated scenarios across automotive and home environments. (China Consumer Daily)

　　Suzhou High-Tech Zone to Build RMB 100-Billion "Insurance + Technology" Industrial Cluster Within 3 Years

Recently,Suzhou New District Hi-Tech Industrial Co., Ltd.(600736,Stock Forum) District launched the "Shishan Plan" for a new insurance highland at the Suzhou Comprehensive Innovation and Development Conference on the Integration of Insurance and Technology. By 2023, Suzhou High-tech Zone will, through an action plan, a policy framework, and multiple concrete measures, attract over 100 enterprises and institutions related to "insurance + technology", build an industrial cluster in this sector with a scale exceeding 100 billion RMB, and establish a national-level "insurance + technology" innovation park. (Xinhua Daily)

　　Cross-Border Blockchain Platform Export Credit InsuranceInsurance PolicyFinancing Pilot Successfully Launched in Guangxi

Recently, under the guidance of the Guangxi Branch of the State Administration of Foreign Exchange (SAFE), the Beihai Branch of Guilin Bank and the Guangxi Branch of China Export & Credit Insurance Corporation (Sinosure) leveraged the SAFE Cross-border Blockchain Platform to facilitate an export credit insurance policy financing transaction worth $55,000 for Guangxi Jinhaiying Food Co., Ltd. This represents one of the first pilot transactions of cross-border blockchain export credit insurance policy financing in China, marking the successful implementation of the pilot program in Guangxi and pioneering a new model for export policy financing. (China Financial News Network)

　　Today's Voice

　　Taiping Group Deputy General Manager Xiao Xing: The Insurance Sector's Expansion into Senior Care Real Estate Is Not Driven by Real Estate Profits

On May 18, at the Golden Kylin Insurance Summit Forum,China TaipingXiao Xing, Deputy General Manager of the Group, stated that insurance companies are best suited for senior care real estate. Once retirement capital is integrated with insurance, it ceases to be a mere profit-driven entity and instead becomes a comprehensive service platform capable of delivering full-spectrum, long-term, and human-centric retirement financial services. In senior care real estate, insurers do not pursue property profits; rather, they seek the integrated operational logic of the service ecosystem and cash flow equilibrium. These represent two fundamentally different business logics. (Cailian Press)

　　President of PICC GroupXie Yiqun：The Insurance Industry Will Facilitate the Development of China's Green and Low-Carbon Economy

On May 18, at the Jinqilin Insurance Summit Forum,People's Insurance Company (Group) of China Limited(601319,Stock Forum) Group Vice President Xie Yiqun stated that the insurance industry can play a positive role in addressing related financial risks, such as the repricing of high-carbon assets and the risk of financial losses triggered by the low-carbon transition of the economy. With the accelerated advancement of China's green and low-carbon economy and the gradual development and improvement of the carbon emission trading market, various green insurance and green investment products, as well as various instruments surrounding carbon trading,`Insurance Products`, will have tremendous development potential. (Cailian Press)

　　# Today's Regulatory Updates

　　Insurance Association of China and Multiple Leading Insurers Launch Research Project on Commercial Health Insurance Directory, Scheduled for Release in 2022

Recently, hosted by the Insurance Association of China, the Chinese Society for Health Information and Medical Big Data, ChinaMedicine and Health《Business, co-organized by the Cultural AssociationHealth InsuranceStandard Setting and Long-term Development of the Catalog》Project Kick-off Meeting was held in Shanghai. ByPacific OceanHealth, China Life,Ping An LifeThe research group, jointly established by 18 insurance companies, multiple pharmaceutical and medical device institutions, and technology consulting firms, will undertake a collaborative research initiative for approximately one year, with the findings scheduled for official release in 2022. (21st Century Business Herald)

Weekly Review

05.17 | Regulators further tighten regulations on short-term health insurance; four ministries warn against illegal fundraising in the elderly care sector

This article was first published on the WeChat Official Account: Jinribao. The content of this article represents the author's personal views and does not reflect the position of Hexun.com. Investors acting upon this information shall bear the risks themselves.