Since The Founding Of New China, China's Insurance System Change And Its Analysis

As a part of financial industry, the insurance industry appeared and developed along with the capitalist economy's appearing. Before the Pepople's Republic of China was established, the insurance industry had a certain development, but it still had many drawbacks under the conditions that the capitalism was not mature in China .After the PRC was established, the insurance industry glowed the brand-new vitality as an essential constituent in the socialist economy . After the insurance industry went through a fast development for nearly 10 years, it had made the due contribution for the socialist enterprise. But, as a result of the" left" thought at the end of the fifties of the last century, the insurance industry was compelled to cancel in 1958. After the PRC overthrew the Gang of Four, the insurance industry entered people's line of sight along with our taking the economic development as the central thought again .At the subsequent 20 years, it achieved a surprising development and made a remarkable achievement. The present paper, through an analysis of the reason of the development of the insurance industry in China since 1949 , intends to gain the direction of the insurance industry "s development.This article is divided into five parts.The first part mainly narrates after the new China was established, our government transformed the insurance 's organization in the old China and reorganized insures of the market. On the basis of it, the socialist insurance was established.The second part mainly relates the stagnant period of our country 's insurance industry. After 1958,because of the influence of the "left" deviationist ideology that some person treated the insurance industry as the capitalistic product and thought that the insurance was no longer needed in socialist state, our country vs insurance industry was seriously impeded and twisted.The third part tells us the recovery and development of the insurance industry after our country carried out Reform and Open Policy. After 1980, along with our taking the economic development as the central thought again established, the insurance industry's development reprocessed the agenda, then it started to be restored and developed.The fourth part narrates the present situation of our country insurance industry. The insurance industry went through a fast development in the period of nineties and made a huge progress and achieved remarkable success from market players , the market scale , and construction of regulations to supervision . but it also has same drawbacks , so we should do something to solve them.The fifth part summarizes the transition of the insurance institution in China in the past fifty years ,and on the basis of the summary the writer puts forward some suggestions.