(Dr. Pei Guang, Deputy Director of CIRC Statistical Information Department):

It’s a pleasure for me to attend Huatai’s press conference on its data consolidation today. After three years of hard work, Huatai Insurance Company has completed its insurance business and financial data consolidation and realized the real-time data docking. This achievement has made Huatai realize development by leaps in the aspects of statistics and information construction, risk control and business management, enabled Huatai to take a leading position in China’s insurance industry, and laid a solid foundation for Huatai’s more rapid and efficient development in the future. From an industrial point of view, the realization of data consolidation is also a significant innovation in the management of the insurance industry. Hereby, on behalf of the Statistical Information Department of CIRC, I want to extend our warm congratulations to Huatai.

In the past over three years, CIRC has paid great attention to the work of information construction and data management and always taken the strengthening of information construction as an important means for promoting the development of the insurance industry and preventing industrial risks. CIRC has also proposed to take the level of a company’s information construction as an important criterion for evaluating the company’s core competitive edges. You may know that data consolidation is a very important task in information construction. Before the realization of data consolidation, a company’s data are scattered in various branches. Such a state is unfavorable for the company’s integration of information and resources, unfavorable for the company’s realization of matched management of assets and liabilities, and unfavorable for the company’s realization of scientific accounting analysis. Therefore, CIRC has vigorously advocated and promoted consolidated data management and put forth definite requirements in this aspect.

While leading information construction in the insurance industry, CIRC has also persisted in the said direction in its own information construction. On January 1 of this year, CIRC’s China Insurance Statistical Information System was formally put into use; in the second half of this year, CIRC launched an on-site audit system, which is a portable examination tool. Meanwhile, CIRC has optimized its internet information platform after its intranet information platform was put into use. Through the use of these systems, CIRC has formed a technical architecture of off-site and on-site examination with China Insurance Statistical Information System and the On-site Insurance Audit System as the core as well as an electronic platform with the intranet information platform and internet information platform as the core, greatly increasing the efficiency of supervision. The reason of my briefing on CIRC’s statistical information system and on-site audit system is that both of these two systems adopt the mode of data center consolidation and have been developed with the targets of examination as the objects of development. After realizing data consolidation, Huatai can realize efficient docking with CIRC’s supervision system. From the company’s angle, the realization of data consolidation can greatly increase its compliance and reduce its cost for receiving supervision. For example, before the realization of data consolidation, all the branches of Huatai had to realize docking with CIRC’s information system. After realizing data consolidation, Huatai only needs to make one interface for realizing docking with CIRC’s information system. From this angle, data consolidation is a strategic project with great significance. Therefore, I think the project is a very important technological innovation.

While deepening corporate restructuring and maintaining a high rate of growth, Huatai has invested a lot of manpower and materials and overcome various difficulties for realizing data consolidation, which has made Huatai’s business management and risk control directly in compliance with international practice, created favorable conditions for Huatai’s realization of intensive and fine management and also accumulated precious experience and set a good example for the realization of data consolidation in the whole insurance industry.

We wish Huatai could persist in the scientific way of development, grasp opportunities, be bold in exploration and innovation, pay attention to management and lay stress on actual effect in future information construction for fully promoting the modernization of business management through information construction, realizing all-round coordination and sustainable development and building a famous brand in China’s insurance industry.