Guidelines of the China Insurance Regulatory Commission for Launching the Pilot Insurance Program for the Application of the First Batch of Critical New Materials
Guidelines of the China Insurance Regulatory Commission for Launching the Pilot Insurance Program for the Application of the First Batch of Critical New Materials
Guidelines of the China Insurance Regulatory Commission for Launching the Pilot Insurance Program for the Application of the First Batch of Critical New Materials
Bao Jian Fa [2017] No.60
September 12, 2019
All local bureaus of the China Insurance Regulatory Commission, the Insurance Association of China, all property insurance companies and professional insurance agencies,
Recently, the Ministry of Industry and Information Technology ("MIIT"), the Ministry of Finance ("MOF") and the China Insurance Regulatory Commission ("CIRC") have jointly issued the Circular on Launching the Pilot Mechanism of Insurance Compensation for the Application of the First Batch of Critical New Materials (Gong Xin Bu Lian Yuan [2017] No.222, hereinafter referred to as the "Circular"), deciding to set up the mechanism of insurance compensation for the application of the first batch of critical new materials. In order to implement requirements set out in the Circular and put the pilot program in place, the following guidelines are hereby given.
I. New materials serve as pillars and foundations of advanced manufacturing, and their performance, technologies and techniques have direct influences on the quality of products and safety of production in downstream fields, such as electronic information and high-end equipment. Introducing the insurance compensation mechanism for the transformation of innovative achievements of critical new materials is an institutional arrangement to take full advantage of market-oriented approaches to control and share risks caused by the pilot application of new materials, and this mechanism is favorable to speed up transformation and application of innovative achievements of new materials, stimulate the vitality of enterprises in new materials industry, promote the supply-side structural reform in the traditional materials industry, enhance the overall degree of development of the new materials sector, and serve the State's innovation-driven development strategy.
II.
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