China Pacific Insurance Company Ltd., the country's leading insurer, and IBM of the United States signed an agreement earlier this week on technological cooperation.

Huo Lianhong, general manager of the Shanghai-based insurance company, said the two companies will work jointly to set up an electronic development program for the insurance giant in China.

Under the agreement, the Chinese insurance company will draw on IBM's development ideas and experience in electronic insurance, and introduce its cutting-edge solutions so as to set up a new information platform and technological support for its management. The general manager said the agreement means his state-owned company will be using start-of-the-art technology to speed up its development.

(Xinhua News Agency November 15, 2001)