EconomyChina’s pet insurance market grows 60-fold in five years
Industry data shows China’s pet insurance premiums rose from about 50 million yuan in 2020 to as much as 3.5 billion yuan in 2025, a 60-fold increase. Growth has brought complaints about waiting periods, exclusions and pre-existing conditions, while insurers face inconsistent veterinary fees and fraud. Standardization efforts are underway.
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China News Service★★☆☆☆2026-08-20 06:50Original
China’s pet insurance market grows 60-fold in five years