1949, 10 10 On October 20th, China People's Insurance Company was established in Beijing, announcing the birth of the first national large-scale comprehensive state-owned insurance company in New China. 1958 18 In February, the National Financial Conference officially decided to suspend the domestic insurance business. 1979 1 19 10 19 The People's Bank of China held a national insurance conference in Beijing, and the domestic insurance business began to resume after being interrupted for more than 20 years. Insurance institute of china was founded. 198 1 year1February 3 1 day China promulgated the Economic Contract Law of the People's Republic of China, which stipulated the principles of property insurance contracts and became the basis for formulating relevant laws.