The chairman of Ping An Insurance (Group) Co, China's second-biggest insurer, has submitted a proposal to the Chinese legislature's advisory committee to lower taxes for the nation's insurers.
China should cap taxes on property and liability insurance businesses at two percent or below, said Ping An Chairman Peter Ma, a member of the Chinese People's Political Consultative Conference's national committee, in a proposal to the advisory body, according to an e-mailed company statement yesterday.