A Study On Insurance Support Of Industral Clusters In Guangxi Beibu Gulf Economic Zone

Guangxi Beibu Gulf Economic Zone is the fourth largest economy area bearing national attention for development,following Shenzhen Special Economic Zone, Shanghai Pudong New Areaand Tianjin Binhai New Area. To achieve the goalof supportingChina’s Western Campaignand the construction of important international and regional economic cooperation zone, Guangxi Beibu Gulf Economic Zone industrial clusters relies on the port resources toport industrial cluster,development of rare earth resources in Guangxi manufacturing industry cluster, andinformation resources fromhigh-techindustry cluster. Throughgathering and developingindustrial clusterSjGuangxi Beibu Gulf Economic Zone hasgreatly enhanced its strength, and formed a new pole of Chinacoastal economydevelopment.However, with the growing of industrial clusters,various risks forenterprises in the clustergradually emerge. These risks carry general characteristics of the process in the development of industrial clusters as well assignificant regional characteristics. This situation calls fallscientific arrangements of risk protection mechanismsthrough effective risk management. Insurance market as an important part offinancialmarketplays a unique role in coordinating regional economic development and provides risk protection. Similarly, support from insurance is also crucial to the development of Guangxi Beibu Gulf Economic Zone industrial clusters.This article first introduces theory of industrial clusters and insurance support, explaining interaction mechanism between industrial clusters and the development of insurance industry. Secondly, starting from current development of the Guangxi Beibu Gulf Economic Zone industrial clusters, we analyze risksfor Guangxi Beibu Gulf Economic Zone industrial clusters through different lifecycles and natures of industries.On this basis, wepresent the demand and supply of insurance market for the Guangxi Beibu Gulf Economic Zone in the development of industrial clusters. Finally, relating to the reality of industrial cluster development in Guangxi Beibu Gulf Economic Zone, we make suggestions for policy making at levels of organization, structure,marketing, and regulationon how the insurance industry can support the development of the economic zone of industrial clusters.The research results provide a useful reference for the development of Guangxi Bribu Gulf Economic Zone industrial clusters insurance support system and support measures to develop, in order to promote steady and rapid development of economic and industrial clusters in this region.