XIANG Junbo, chairman of the China Insurance Regulatory Commission (CIRC) visited the Tsinghua PBC School of Finance on January 16, 2014talked to the Finance EMBA class about the ReformDevelopment of China's Insurance Industry.

Xiang quoted Churchill as stating that "if it was possible for me, I would write the world 'insurance' in each homeon each man's forehead", stressing the significance of insurance to national developmentpeople's life. He reviewed the history of insurance, actualities of China's insurance industry as well as insurance's functionrole. Also, he noted, China's insurance industry is still at its initial stage; the 3rd Plenary Session of the 18th CPC Central Committee directly mentioned insurance four times is a sign for great room for development of the insurance industry;the industry will develop rapidly in the coming one decadetwo.

Xiang works concurrently as a member of the Monetary Policy Committee of the People's Bank of China (PBC),once held positions as deputy governor of the PBC,president of the Agricultural Bank of China. His lecture is part of the Financial Market series taught under the program. The series invites key policy makers from regulatory bodies, as well as top industry figures, to look into frontier issuesguide the students in recognizing the general trend of macroscopic development.