Contemporary Chinese Insurance Industry Research(1949-1959)

Content:Insurance is an important part of financial sector, a considerable constructional power of national economy, it’s financial compensation and security features at this stage can’t be replaced, while the insurance provided money for the country’s economic construction. The discussion of this paper basic on the concepts and theories of insurance, the clues basic on the ten years contemporary insurance development after the founding of PRC(The People’s Republic Of China), the analysis of modern historical process of development of the insurance industry basic on Marxism, the development of China’s insurance industry which was promoted by the new-democratic revolution and socialist transformation will be revealed through the eyes of historical development, this paper sums up the successful experience of China’s insurance industry, reveals the lack of development theory and practice in the insurance industry at that time.It was relatively small of domestic research on the history of China’s insurance industry, its historical research focused mainly on the time before the founding of PRC, and the economic research focus on the time after the reform and opening up policy, domestic scholars in China lack of attention of the insurance industry between the founding of PRC and the reform and opening up time, fewer studies. It’s a historical inherited relationship of China’s insurance industry between the 10 years after the founding of PRC(1949-1959) and the rehabilitation and development of the insurance industry in 1980 s. The study of the development in this period for China’s insurance industry in this paper, which makes up a research gaps for the academic community. The study in this paper could restore history more clearly, and sums up the historical experience, which to help us makes up for the mistakes arising from inadequate. Insurance industry developing until nowadays has bearing on the vital interests of every one of us; its evolution is also an object of our attention and study. Furthermore, as it were, people from different communities have bias for insurance, having diverse awareness of the social function of insurance, and don’t grasp the insurance products, on the contrary, percept the negative side of insurance more, so, more research means more awareness of positive. Only there is more comprehensive knowledge about insurance theory and insurance in the society, there could be healthy and orderly development of China’s insurance industry.The article focus on the essential condition of the development of China’s insurance industry, such as: business subjects, types of insurance, staff quality and scale, the development level of the insurance industry and the rules of development history before and after, and so on. Through the narrations which the primary content of it was these basic concepts and basic rules, makes clear the historical process of China’s insurance industry in the 10 years time(1949-1959) after the founding of PRC. This paper’s content is divided into three sections: a profile of the China’s insurance industry before the founding of PRC, the development of China’s insurance industry after the founding of PRC(1949-1959), historical thinking in the development of China’s insurance industry in the 10 years time after the founding of PRC.As China’s insurance industry and historical sources, the general situation of China’s insurance industry before the founding of PRC would be described separately. Three main parts are:The first part: the overview of the China insurance. The introduction of modern western insurance theory founds the birth of Chinese national insurance industry. Just what the introduction of the modern insurance industry makes China national insurance industry was founded and developed, later. In the development process of China insurance before the liberation, foreign insurance companies always occupied the monopoly status, the national insurance industry developed and grown difficultly in the cracks, the national insurance industry developed rapidly in the four periods. As a unique historical period before the founding of the PRC, it would be narrated separately.Before the founding of PRC, the development of the China’s insurance industry process is briefly divided into four historical stages, the main body of the insurance market developed differently in different periods. Based on a simple summary of historical process, the main causes of its development would be discussed.The second part: China’s insurance industry development after the founding of the PRC(1949-1959). This part is the key content in this paper:One: the time from the rise of the new China’s insurance, which includes military committee took over the bureaucratic capital insurance, to the people’s government to rectify the market and reform the private insurance industry, and the establishment and the development of the two major state-owned insurance company, at last, the situation of foreign insurance companies gradually withdrawed from the Chinese market would be narrated.Two: the insurance industry moved ahead in the dark in the 3 years that from August 1950 to March 1953. In less than three years, our pilot agricultural insurance.To protect national property safety, our country implemented the compulsory insurance in state organs’, state-owned enterprises’ and cooperatives’ property. Besides domestic business, the People’s Insurance Company of China involved the international business, as well.Three: in the period of socialist transformation of the insurance industry_ March 1953- January 1958. During this period, rural and urban insurance business of the People’s Insurance Company of China was adjusted and developed, the branch of the insurance agencies and staffs were adjusted, too.Four: the development of China’s insurance industry in the great leap forward movement_ January 1958-1959. Before and after the suspend of the domestic business China insuranceThe third part: Historical Reflections on the development of Chinese insurance in the 10 years after the founding of the PRC. This part summarizes the experiences and lessons of the 10 years development.