BEIJING, March 2 (Xinhua) — China on Monday made public new guidelines to speed up the high-quality development of sci-tech insurance coverage, amongst broader efforts to strengthen technological self-reliance.
The doc, which was issued by the Ministry of Science and Technology, the National Financial Regulatory Administration, the Ministry of Industry and Information Technology, and the China National Intellectual Property Administration, units out 20 measures throughout six areas, aiming to construct a sci-tech insurance coverage system that’s higher aligned with technological innovation.
The nation’s sci-tech insurance coverage has performed a stabilizing function in offsetting the excessive prices, lengthy development cycles and elevated dangers related to technological innovation. In 2025, it supplied about 8 trillion yuan (about 1.16 trillion U.S. {dollars}) in threat protection, with premiums rising 44 p.c 12 months on 12 months.
The new guidelines name for improved risk-sharing mechanisms for main technological breakthroughs, in addition to strengthened insurance coverage help for nationwide strategic technological forces.
For tech-focused small and medium-sized enterprises, insurers are inspired to supply less complicated, extra inexpensive merchandise with better ease of entry and handy claims processes. ■