CHINA TO PUSH AHEAD WITH DEPOSIT AND AGRICULTURE INSURANCE SCHEMES

THE Chinese authorities are to push ahead with plans to develop deposit insurance and agriculture insurance schemes, a leading figure in the country’s finance sector has said. Agriculture insurance is one of the commitments China made in its World Trade Organisation accession. According to the vice governor of the People's Bank of China (PBoC), Liu Shiyu, there is expected to be some significant progress on this subject in the near future. He told the 12 National and Local Finance Forum held in the Inner Mongolia Autonomous Region that the authorities were now working out fiscal and tax incentives for financial institutions to support agricultural programmes. And Liu added that China was also looking at promoting credit assessment of financial institutions.