China's insurance sector will continue to improve to meet the demand from the swelling middle class and an aging population, the top insurance regulator said at a forum in Shanghai on June 12. The industry saw its best performance in 2015 since the global financial crisis, with premium income reaching 2.4 trillion yuan ($366 billion), said Xiang Junbo, Chairman of China Insurance Regulatory Commission. Profits rose to 282.4 billion yuan ($43 billion) on top of 12.4 trillion yuan ($1.9 trillion) assets for the entire insurance sector last year, Xiang said. has promised targeted measures to fix the problems. China’s private sector contributes 60 percent of the GDP, 80 percent of jobs, over half of tax revenue and 46 percent of exports.