This paper shows that politicians' pressure to climb the career ladder increases bank risk exposure in their region. Chinese local politicians are set growth targets in their region that are relative to each other. Growth is stimulated by debt-financed programs which are mainly financed via bank...

In this chapter, we review the development of the insurance industry in China. We provide a comprehensive discussion of its regulatory framework, major insurance segments, market structure, InsurTech, social insurance and the prospects for the future development