A representative of the China Insurance Regulatory Commission (CIRC) has confirmed that by the end of January 2001, foreign-funded insurance firms have opened nearly 200 representative offices in the country, and the CIRC has approved 17 foreign insurance companies to operate in China.

Representative offices of companies from the United States, Britain, Japan, Canada and Switzerland, where the insurance industry is well-developed, have obtained approval to do business in Shanghai, Guangzhou and Shenzhen.

Although many insurance companies have entered the country, most do not offer insurance yet, but concentrate on market liaisons and surveys.