The Million Dollar Round Table, a global association of financial service professionals, will launch a special award program in China in 2027 to recognize companies demonstrating exceptional contributions to sustainable development and high-quality service within the insurance industry, according to the round table CEO Stephen Paul Stahr on Sept 24.

The announcement was made during the 2025 MDRT Member Exchange and Sharing Conference in Shanghai.

The conference, co-organized by the round table and the Chamber of International Commerce Shanghai, drew nearly 300 financial service professionals and industry leaders to explore avenues for high-quality development in the sector.

The round table's decision to establish company awards in China aligns with the country's regulatory reforms, emphasizing risk prevention, consumer protection, and sustainable development of marketing systems.

In April 2025, the National Financial Regulatory Administration issued a notice emphasizing the need for insurance companies to enhance compliance, professional competence, and service quality.

"With these awards established in China, MDRT aims to recognize organizations in China's financial services sector that exemplify leadership in ethics, innovation, client service, and professional development," Stahr said.

He also noted that China's reforms align closely with the round table's mission to promote excellence among advisors and contribute to long-term financial security.

The round table will evaluate participating companies based on ethical conduct, client-centric practices gauged by policy persistence, sustainable business growth, and commitment to advisor development and retention.

Speaking at the conference, Yang Dongsheng, vice-chairman of the Shanghai Council for the Promotion of International Trade and chairman of the Chamber of International Commerce Shanghai, highlighted the deepening collaboration between the two organizations since the round table established a representative office in Shanghai in 2020.

He said that the council would continue providing platforms for high-quality exchange, supporting international organizations like the round table in injecting new vitality into Shanghai's development as an international financial center.

Currently, China has the largest number of MDRT members globally, with 21,000 professionals in 2024, a nearly 4,000 increase from the previous year.

Luo Bin contributed to this story.