In 2026, Guangdong Province took a significant step forward in promoting the high-quality development of its insurance industry. The Guangdong Financial Regulatory Bureau issued the “Guiding Opinions on Supporting the High-Quality Development of the Insurance Industry in Guangdong Province and Helping Guangdong Take the Lead in China’s Modernization,” which covers multiple areas and aims to comprehensively enhance insurance service capabilities and contribute to the steady development of Guangdong’s economy. Regarding the development of service trade industry capabilities, the opinions propose accelerating the pace. Increasing support for domestic trade insurance is a crucial component, which helps facilitate the smooth flow of goods and services. Insurance institutions are encouraged to provide a wide variety of insurance products around common consumer scenarios such as automobiles, home appliances, and furniture. For example, product quality insurance allows consumers to purchase goods with more guaranteed quality; installation liability insurance protects against risks during the installation process; accidental damage and extended warranty insurance provide greater protection for the subsequent use of goods; and return shipping insurance facilitates the return and exchange of goods for consumers, reducing shopping risks. In the food and tourism sectors, the opinion also includes specific measures. It aims to help build the “Eat in Guangdong” brand and the “Guangdong Fresh Products” regional public brand, actively developing food safety liability insurance, which will allow consumers to enjoy Guangdong cuisine with greater peace of mind and enhance the market competitiveness of Guangdong food. Around the tourism and cultural brand of “Please Come to Guangdong for the Chinese New Year,” it vigorously develops travel accident insurance for the elderly and hotel and homestay liability insurance. Travel accident insurance for the elderly provides travel protection for elderly tourists, while hotel and homestay liability insurance ensures safety during accommodation. In addition, it innovates marine sports insurance products, explores cross-border insurance collaboration with Hong Kong and other places, serves new forms of marine cultural and sports tourism, enriches the supply of cultural and sports insurance products, and injects new vitality into Guangdong’s tourism industry. Regarding foreign trade, the opinion emphasizes the importance of export credit insurance. It calls for innovative export credit insurance products and services, expanding underwriting business to key industrial chains adapted to Guangdong’s export structure, increasing underwriting support for leading enterprises and key players in the industrial chain, and deepening collaborative protection for upstream and downstream foreign trade enterprises. These measures will help reduce the risks for foreign trade enterprises and enhance their competitiveness in the international market. Simultaneously, it promotes export credit insurance support for new foreign trade formats in Guangdong, such as cross-border e-commerce and overseas warehouses. With the continuous changes in global trade patterns, cross-border e-commerce and overseas warehouses have become new trends in foreign trade development, and export credit insurance will provide strong support for the development of these new formats. Furthermore, it explores innovative policy financing models with banks to enhance the creditworthiness of small and medium-sized foreign trade enterprises in terms of receivables protection and financing, further expanding the coverage of export credit insurance. This will help small and medium-sized foreign trade enterprises solve their financing difficulties and promote their better participation in international market competition. These measures by Guangdong will bring new opportunities for the development of the insurance and foreign trade industries, propelling Guangdong to the forefront of China’s modernization drive.
Guangdong promotes export credit insurance to support new forms of foreign trade.
The Guangdong Financial Regulatory Bureau has issued guiding opinions to promote the high-quality development of the insurance industry across multiple areas, placing particular emphasis on leveraging export credit insurance to support new forms of foreign trade, such as cross-border e-commerce and overseas warehouses.
