Editor's note: In follow-up to the guidelines introduced in early August to accelerate Shanghai's pace in building an international reinsurance center, Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone, where the guidelines will be mostly implemented, has also introduced 18 detailed policies to better fulfill the tasks.

1. Create a center for international reinsurance businesses

(1) Accommodate more reinsurance service providers

(2) Build an international reinsurance registration and trading center

(3) Hold international exhibitions and conferences

(4) Build special office buildings to attract companies involved in the industrial chain

2. Consolidate the infrastructure for the reinsurance industry

(1) Support Shanghai Insurance Exchange in setting up a subsidiary to manage the reinsurance registration and trading center

(2) Subsidize reinsurance companies' technological transformation, allowing them to connect to the registration and trading center

(3) Complete the cross-border reinsurance capital channel under the free trade account

(4) Establish a reinsurance cross-border data flow mechanism

3. Enhance the global competitiveness of domestic reinsurance companies

(1) Provide rewards concerning household registration, increased investment and talent attraction

(2) Provide rewards based on trading size

(3) Provide a maximum 100 percent rent subsidy for the first three years and one-time office decoration subsidy

(4) Support the establishment of the Shanghai reinsurance professionals association

4. Enrich reinsurance product supply and enhance product innovation

(1) Set up a special fund of no less than 30 million yuan ($4.2 million) to build an insurance community

(2) Accelerate product innovation for technology companies

(3) Introduce new-type risk transfer products

5. Further attract and nurture reinsurance talents

(1) Step up support in household registration, housing, medical services and education

(2) Implement more open policies for the entry, exit and stay of foreign talents

(3) Support Dishui Lake Advanced Finance Institute of Shanghai University of Finance and Economics in conducting reinsurance training

Source: thepaper.cn