Editor's note: The construction of a reinsurance center in Shanghai will help consolidate the city's role as a global financial hub. It will also facilitate the development of new quality productive forces and help to improve China's financial strength in general. These goals are inseparable from high-level institutional opening-up. The guideline is thus introduced to facilitate the high-quality development of the reinsurance industry.

- General goals:

1. Set up an international registration and trading center in the Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone

• Gather resources

• Integrate businesses

• Boost trading

• Complete basic rules

2. Incrementally develop the reinsurance market

3. Complete risk management mechanisms

- Step up policy support

1. Support the Shanghai Insurance Exchange in setting up a subsidiary in Lin-gang

2. Provide rewards or support for opening reinsurance branches or increasing investment in existing reinsurers in Lin-gang

3. Increase support to attract talents, including:

• Entry and exit

• Apartment rental

• Home purchases

• Household registration

- Unify registration for insurance contracts, bills and payment information

- Expand trading

1. Combine online and offline trading

2. Support renminbi settlement for cross-border reinsurance businesses

3. Facilitate cross-border settlement for reinsurance businesses

- Serve key sectors

1. Key sectors

• Aviation

• Green shipping

• Integrated circuits

• Outbound companies

2. Explore to set up a risk diversification mechanism in Lin-gang

3. Set up a special fund of 30 million yuan ($4.2 million) or more

4. Set up a Shanghai reinsurance professionals association

- Set up industry standards and data security rules

1. Implement the rules for releasing cross-border reinsurance premium statistics

2. Research and implement new reinsurance trading standards

3. Complete the mechanism for shielding business secrets

- Responsibility of Shanghai Insurance Exchange

1. Improve the online functions of inquiry, trading, clearing, settlement, issuance, and circulation of tax invoices

2. Set up a credit rating mechanism

3. Optimize credit services

4. Strengthen overall risk management

1. Secure stable trading and data security