The Impact of Economic Externalities on the Development of China’s Property Insurance

Abstract

This article aims at the impact of changes in the economic environment on China’s property insurance industry, using comprehensive literature analysis and empirical analysis, selecting variables, and using the National Bureau of Statistics of China and Wind database 2013–2019 data to conduct a principal factor analysis. It proves the role of such factors as promoting the development of China’s property insurance, economic system reform, demographic changes, and technological progress. The research was funded by the CSC Committee. The article provides a theoretical reference for the analysis of China’s property insurance development policies and measures, and explains the role of selected variables in the development of the property insurance industry. The specific role of external economic factors in the development of China’s property insurance is the future Research direction. The research results can provide references for developing countries and regions to formulate property insurance industry policies.