On July 6, 2016, New York time, in New York headquarter of the Starr Group, the vice governor of Hubei Province Mr. Cao Guangjing visiting the United States sent YRIC Honorary President and chairman of the Starr Group Board Mr. Maurice R. Greenberg a letter signed by the Secretary of Hubei Provincial Committee of the CPC Mr. Li Hongzhong and the Governor Mr. Wang Guosheng on June 27. 

YRIC Honorary President Mr. Maurice R. Greenberg met with vice governor of Hubei Province Mr.Cao Guangjing

The secretary Mr. Li Hongzhong and governor Mr. Wang Guosheng said in the letter, thank you as my provincial government adviser and honorary citizen of Wuhan City for having been concerned about the economic belt of Hubei and the Yangtze river. Subsequently they introduced the development situation of Hubei Province. Hubei Province’s 2015 GDP was more than 470 billion increasing by 8.9%, ranking the eighth in the country, ranking 3 forward compared with 2010. If Hubei is saw as an independent economy, it ranks twenty-seventh in the world , better than the G20 countries such as South Africa. The modern service industry represented by the financial industry is developing rapidly. In 2015, the financial industry achieve added value of 165 billion RMB, accounting for 5.58% in the province's GDP, becoming a veritable pillar industry and handing in a satisfactory answer.

YRIC Honorary President Mr. Maurice R. Greenberg presented his autograph book with his signature to vice governor of Hubei Province Mr.Cao Guangjing

And then they introduced about 200 billion RMB Yangtze River economic belt industry fund including financial capital and social capital with the biggest scale and highest marketization among the domestic funds guided by the Chinese government and with principles adhere to the specialization and market, introducing double-way factors of internationalization and strengthening cooperation and investment with the United States, hoping the Starr Group can become a major partner in the United States to help Hubei create an international brand.

The conversation

The letter particularly mentioned welcoming the Starr Property and Insurance Company officially to set up institutions in Hubei and Hubei Province is willing to provide as much convenience and preferential conditions as possible , and vigorously introduced Hubei infrastructure, construction, energy, logistics, manufacturing and other related enterprises to become insurance customers and partners. Secretary Mr. Li Hongzhong and governor Mr. Wang Guosheng in the last hoped to further deepen the strategic cooperation with the Starr Group so that the two sides share development opportunities and create a better future.

The conversation