China's insurance watchdog is going to launch its first industrial census by the end of this year to establish a database for the country's growing insurance market.

A senior official from the China Insurance Regulatory Committee, or the CIRC, says the census will focus on the business scale, personnel structure and profitability of all domestic and foreign insurance companies and agencies in China.

He notes that the census is a key part of the first National Economy Census launched this September.

China's fast growing insurance industry plays important roles in economic compensation, capital financing and social management.

Since the industry was restored in 1980, China's insurance revenue has maintained an average of 34% annual growth, with nearly RMB 334 billion, or over 40 billion US dollars, in the first three quarters this year.

(CRI.com November 3, 2004)