[China Machine Tool Business Network Domestic News] On March 3, the Ministry of Finance, the Ministry of Industry and Information Technology, and the China Insurance Regulatory Commission presided over a nationwide video teleconference to deploy the first set of major technical equipment insurance compensation mechanism. This is an innovative mechanism through government guidance and marketization, and is an important measure to promote the first set of major technology and equipment to market. Deputy Minister of Finance Liu Kun, Vice Minister of Ministry of Industry and Information Technology Su Bo and Vice Chairman of the China Insurance Regulatory Commission Wang Zuji spoke at the meeting to clarify the significance of this work and deploy specific pilot work.

The conference set up 30 branch venues across the country. There were 96 conference venues in Beijing. Apart from the relevant units in Beijing, there were 17 enterprise groups in the national power grid, PetroChina, China Railway Group, China National Aviation Corporation, China Shipbuilding Industry Corporation, etc.; 6 insurance companies and institutions; 25 associations; Including Xinhua News Agency, People's Daily, Tencent's 29 media participation.

On February 2, the three departments jointly issued the "Notice on Developing the Pilot Work for the First (Set) of Major Technical Equipment Insurance Compensation Mechanism" Cai Jian (2015) No. 19. At the same time, the Ministry of Industry and Information Technology released the “Guidance Catalogue for the Promotion and Application of the First Set of Major Technical Equipment (2015 Edition)”, and China Insurance Regulatory Commission issued “Guiding Opinions on Launching the First (Set) Major Technical Equipment Insurance Pilot Work” (hereinafter referred to as the “Guiding Opinion”). The video-telephone conference is to explain the background, significance, and implementation of these three documents, and requires the relevant departments of various provinces and cities to carry out follow-up publicity.

Vice Minister Liu Kun pointed out that the compensation mechanism adheres to the principle of “government guidance and marketization operation” and uses the central government to support the promotion and use of major industrial key equipment, break through the risk bottleneck of users, and promote the improvement of the core competitiveness of the manufacturing industry. The Ministry of Finance will guide the market-based operation of compensation mechanisms. Production companies will insure the products of the Catalogue. The central government will subsidize them and users will benefit. The government will use the role of financial and insurance leverage. The government will set up a cooperation platform between insurance companies and equipment companies to achieve mutual benefits.

In his speech, Vice Minister Su Bo pointed out: To vigorously develop major technical equipment is a long-term task, and an innovation mechanism must be given to support it. The innovative point of the insurance compensation mechanism lies in emphasizing the dominant position of the enterprise, reducing the identification of the first set, respecting the laws of the market, and close coordination and coordination among various departments to exert synergies.

Some local authorities have already implemented insurance compensation mechanisms. In 2011, there were more than 40 companies in Zhejiang, and there were also three companies in Shandong. By the end of this year, 51 aircraft will be insured. All departments will track premium subsidies and propose adjustment plans in a timely manner.

In his speech, Vice Chairman Wang Zuji of the China Insurance Regulatory Commission mentioned that the first set of major equipment insurance compensation mechanism was an attempt by the three departments to explore at one time. It is a national pilot project established after the trial of Zhongguancun. For the insurance industry, the value of insuring product units is large and there is a lack of traditional data, and new design ideas for insurance products are needed. To this end, China Insurance Regulatory Commission formulated the "Guiding Opinions", proposed major technical equipment manufacturing companies to independently insure, insurance companies provide customized comprehensive insurance products for underwriting (quality insurance, service insurance package), the first set of major technical equipment products for users For beneficiaries of insurance, the central government provides premium subsidies for eligible insurance companies.

The significance of implementing the insurance mechanism lies in the fact that it is a brand-new insurance model that can reduce the cost of enterprises, give full play to the efficiency of financial funds, expand the business scope of insurance companies, and strengthen the cooperation among insurance companies. Wang Zuji reiterated that the central government’s financial funds will subsidize the premiums for the first three sets of equipment for the first set of equipment, which is a rare opportunity for manufacturers.