中國의 保險市場 開放과 市場環境

China's Opening Insurance Market: Market Situation and Foreign Companies

China is assessed to be the greatest insurance market in 21 st Century. Chinese government has restricted foreign insurance companies' advancing into China, But after China's joining WTO in 2001, foreign insurance companies expect to make inroads into Chinese market. The advance of foreign insurance companies into Chinese market is going to promote the reform of Chinese insurance companies which is inferior to foreign companies in the management know-how, and take the chance of profits. The premium expenditures of individuals in China are lower than in other countries such as Bulgaria and Zimbabwe, and the import premium ratio is only 1.9% out of GDP (16.8 billion U.S. $). Considering the world average of premium expenditures (7.3%), the current Chinese market would be of over 70 billion U.S. $, Even considering the average of Underdevelopment countries (3%), the scale of Chinese market would be of over 40 billion U.S. $. However, Chinese rapid economic development and cataclysm shows the potential of Chinese insurance market. The partial conversion of social security into commercial insurance will promote expansion of Chinese market scale. Therefore, it is need to make careful analysis on the market for advancing into Chinese insurance market. Two kinds of analyses can be suggested. One is on the domestic situations such as the system of Insurances, the tendency of insurance development in china, and the Chinese perception on the insurance, the other is on the activities of foreign insurance companies that already advanced or have the plan to advance into Chinese market. Two analyses above are important for South Korean insurance industries. Chinese government is very cautious to reform insurance industries that are related to Chinese social security (and social stability) and also worries about foreign companies' encroach on Chinese market. The analyses on the domestic situations of china will make South Korean companies know how South Korean companies can advanced into Chinese market. The analysis on foreign insurance companies' activities in China is also important for South Korean insurance industries because competitors that South Korean companies will encounter in Chinese insurance market are not be Chinese but foreign companies.