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China upgrades premium growth projections

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The China Insurance Regulatory Commission is predicting 17% premium revenue growth each year until 2020.

CIRC's chairman Xiang Junbo said last week he expected the country's premium revenues to reach 5.1trn yuan ($827bn) by 2020.

The amount is far higher than Junbo's July prediction of 4.55trn yuan and comes after China announced several reforms to help open up the industry.

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