China insurers tipped to roll out tax-deferral scheme

Market observers are optimistic that China is set to roll out a tax-deferral incentive scheme for insurance products under the individual retirement savings programme after ironing out technical issues. The State Council gave no details on how or when the change would occur when it announced last week that it would permit tax-deferred insurance products. But Andy Ng, EY’s Greater China partner and insurance leader based in Beijing, expects the scheme to be implemented next year…