英语翻译Retailing commerce is a service industry through which f

英语翻译
Retailing commerce is a service industry through which foreign investment entered into China rather early; the opening-up of the insurance industry has made it possible for foreign companies to enter into China gradually.At the end of 2004,the Chinese insurance industry had opened up all areas and all businesses except some statutory insurance businesses to foreign investment.The year 2005 is the first year for the Chinese insurance industry to implement the all-rounded opening-up to the outside world,and the market shares seized by foreign-funded insurance companies increased to nearly 7 percent during that year.
As shown by statistics of the China Insurance Regulatory Commission (CIRC),the domestic insurance market opened up step by step in 2005:three foreign insurance companies were permitted to enter into China's market,and 25 foreign-funded insurance agencies set up in China.For the time being,the number of foreign-funded insurance companies has increased from 14 in 2000 to 40 in 2005.Altogether 27 out of the 46 insurance companies listed into the Fortune Top 500 of the World have set up their agencies in China.
Ever since December 6,2005,China has further scaled up the opening-up of its banking industry.Foreign-funded financial institutions' management of Renminbi businesses has been extended to Shantou and Ningbo while five other cities of Harbin,Changchun,Lanzhou,Yinchuan and Nanning were opened up in advance.The latest statistics indicate that the businesses of foreign-funded banks in China develop very rapidly in recent years,and the respective annual growth rates of assets,deposits,and loans are all above 30 percent.