BEIJING, Jan. 31 (Xinhua) -- Chinese Vice Premier Wang Qishan met in Beijing Monday with a delegation from the Geneva Association (GA), an insurance economics group, headed by chairman Nikolaus Von Bomhard.

Wang hoped the GA board would hold a successful board meeting in Beijing, praising the positive role the organization played in promoting reform of the international insurance industry.

China's insurance industry was undergoing rapid and profound changes and development, said Wang. He hoped the GA could work with Chinese insurance companies to jointly push forward the global development of the industry.

Von Bomhard pledged the GA's commitment to stepping up exchanges and cooperation with the Chinese insurance sector.

The Geneva Association describes itself as an international insurance "think tank" for strategically important insurance and risk management issues. It is the first time that the association has hosted a board meeting in an Asian country.