China has huge potential to develop its insurance industry and will continue to optimise regulatory standards for solvency, guide its life insurance industry to reduce debt costs, and reform automobile insurance, according to Li Yunze, director of the State Administration for Financial Supervision. Li, speaking at the Financial Street Forum in Beijing, highlighted strong potential for health, family and property insurance. China will continue to open up in the future and the determination to share development opportunities with the world will not change, Li added. (Source: Securities Daily)