By Li Jianwei, Yang Lin　

Date: 2004/11/27

Abstract:    

Competitions in China's insurance market today have five major characteristics: 1. As more competitors are entering the market, the market concentration diverged increasingly. 2. There is a high concentration in the life insurance market while fierce competition exists in the market of accident insurance, health insurance and motor insurance. 3. Although Chinese enterprises still have absolute predominance, they face increasingly powerful challenges from fast-expanding foreign-funded enterprises. 4. There are fierce competitions in the more developed eastern region whereas competitions in the central and western regions are quite moderate. 5. Companies with larger market shares and a longer history of operation show higher operation efficiency and competitiveness. In the future, the number of market competitors will grow rapidly and market competition will become increasingly fierce.