China's first insurance exchange will be established in the China (Shanghai) Pilot Free Trade Zone (FTZ), the China Securities Journal reported on June 25.

Jian Danian, the deputy governor of Shanghai's Pudong New District, the city's financial and commercial center, and also vice-director of the FTZ's administration, told the reporters at a press conference on June 24 that Shanghai is gearing up for the establishment of the exchange, as well as setting up a national trusts registration center in the newly expanded FTZ.

He also announced that the FTZ's administration will give priority to enhancing the construction of the cross-border e-commerce platform and financial leasing platform in the second half of the year.