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"China Earthquake Catastrophe Model v2.0" is an important achievement made by the government, academia and enterprises through their concerted innovation . In order to better develop this model, China Re initiated China's first fin-tech company of catastrophe risk control – China Re Catastrophe Risk Management Company, and brought in a professional model development team with overseas working experience. China Re has integrated valuable scientific research and data resources with the support of professional research institutes including the Institute of Geophysics and the Institute of Engineering Mechanics of China Earthquake Administration. China Re applied for the State Key Research Project, “Earthquake Insurance Loss Assessment Model and Applications”, and received special fund from the Ministry of Science and Technology of China. The above-mentioned work ensured that the model development was completed within two years. Currently, the model has been recognized by the Seismological Society of China as a first-class international model. The model platform has also been tested and certified by authoritative software evaluation agencies, with complete technological verification certificates, user documents, technological documents, and training and operational service systems. The model is thus fully-qualified and ready for commercial use.

"But the results from this current bout of weather (from Jan 23 to 28) were far from the severe impact in 2008," said Zhang, the chief forecaster.

"China is the world's biggest producer of solar panels," he said. "Imagine what an EU-China solar panel deal for Africa could be."

"But now we see policies that attempt to close the door and resort to unilateralism," he said. "And to succeed in today's world, the best choice is to take a win-win approach. But now we see policies that are so strongly influenced by the zero-sum mentality as well as policies that regard other people's success as their losses."

"China has one of the most vibrant venture capital and startup markets in the world," Thurston said, noting that the country's thriving technology, internet and e-commerce industries offer a fertile investment environment.