(Source: w88 login Economic Times March 5, 2025)

As the degree of aging in my country's population continues to deepen, the improvement and development of the personal w88 login system has become an important issue in ensuring the people's happy life in their later years. Sun Jie, a member of the National Committee of the Chinese People's Political Consultative Conference and vice dean of the School of Insurance of the University of International Business and Economics, put forward policy suggestions for strengthening the construction of personal w88 login infrastructure during the National People's Congress and the Chinese People's Political Consultative Conference, providing extremely forward-looking and operational policy suggestions for strengthening the construction of personal w88 login infrastructure, helping my country's w88 login security system move towards a higher-quality development stage.

Sun Jie pointed out that as an important form of personal w88 login, commercial w88 login insurance, in the context of the continuous extension of population life expectancy, it is urgent to focus on managing longevity risks and strengthen the infrastructure construction of the individual w88 login system.

From December 15, 2024, the personal w88 login system has been launched from 36 pilot cities (regions) to the whole country, which means that the individual w88 login system has been fully implemented, the scope of implementation of tax preferential policies has been expanded, and the types of commercial w88 login financial products have been further expanded. At present, the number of individual w88 login accounts in my country has exceeded 70 million.

However, Sun Jie mentioned that there are many problems in the current operation of the personal w88 login system. On the one hand, the structure of personal w88 login products is not ideal enough, and personal w88 login products and services need to be improved.

On the other hand, the operating risks of insurance institutions have increased, and the construction of a longevity risk management mechanism is imminent. Judging from the current distribution and product form of 177 personal w88 login products in insurance, annuity insurance accounts for more than 50%, and the age of receiving it can last for life.

In response to these problems, Sun Jie put forward a series of countermeasures and suggestions.

First, formulate a standardized survival or mortality improvement index (longevity index) as soon as possible. It is recommended that the Ministry of Human Resources and Social Security, the State Administration for Financial Supervision and Administration, and the National Health Commission and the Insurance Industry Association jointly participate. It mainly focuses on social security data and integrates it with medical data and insurance data to conduct statistics and forecasts on the mortality changes of my country's population, and formulate a set of standard market-oriented mortality or survival rate indexes, so as to minimize basis risks and provide a reasonable pricing basis for longevity risk securitization products.

The second is to accelerate the exploration of a new risk transfer mechanism for personal w88 login longevity risks with Chinese characteristics. As a financial innovation, longevity risk transactions not only require a variety of financial hedging tools that are suitable for the capital market, but also require the regulation and supervision of multiple participants around market access, trading behavior, information disclosure, etc., including individual w88 login plan sponsors, insurance companies, reinsurance companies, rating agencies, etc.

The third is to establish a longevity risk hedging trading market with the Shanghai Insurance Exchange as the technical platform as soon as possible. The insurance society, insurance industry associations, and the main market participants should be guided to further deepen risk analysis around the development of personal w88 login products that can be collected for life and protected for a long time, form market-recognized longevity risk measurement standards, classification plans and pricing models as soon as possible, and explore the hedging experience of longevity risks in an international scope.

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