Chinese premier chairs State Council executive meeting

BEIJING -- Chinese Premier Li Qiang on Friday presided over a State Council executive meeting to study opinions in promoting the high-quality development of the insurance industry.

The meeting also discussed the deployment and implementation of work related to an all-encompassing approach to food.

The meeting reviewed and adopted the implementation plan for accelerating the improvement of the flood control system in the Haihe River Basin and the draft of management regulations on network data security.

A draft revision to the maritime law of the People's Republic of China was also discussed at the meeting.

The meeting said it is necessary to consolidate the institutional foundation for the high-quality development of the insurance industry and to give full play to the role of commercial insurance and other market mechanisms.

It is imperative to nurture and strengthen insurance funds and other patient capital to provide stable long-term investments in the capital market and sci-tech innovation, according to the meeting.

The meeting noted that building a diversified food-supply system is an important measure to ensure national grain security and build up strength in the agricultural sector.

It stressed the need to step up sci-tech innovation in modern agriculture, with a focus on breaking through bottlenecks in the fields of varieties, technologies, facilities and equipment, extend the industry chain and enhance the added value of food production.

The meeting underlined the importance of enhancing overall flood control capabilities in the Haihe River Basin, which is geographically significant and densely populated, urging action to accelerate the construction of key projects in this regard.

It also underscored the need to ensure the lawful, orderly and free flow of data, and to create a favorable environment for the high-quality development of the digital economy and for technological and industrial innovation.

The draft revision to the maritime law was approved in principle at the meeting, and will be submitted to the Standing Committee of the National People's Congress for deliberation.