September 28, 2004
China decides to allow insurance funds to invest in stock market
Chinese insurance companies will be allowed to pump in up to 5 percent of their total assets, worth 55 billion yuan ($6.6 billion), into equities, giving the country’s struggling stock markets a much needed shot in the arm, state press reported yesterday. The China Insurance Regulatory Commission (CIRC) recently finalised rules on insurance fund investment in stocks and has applied for approval of the new policy from China’s State Council, the Beijing-based Economic Observer reported.
Posted by Tom Troceen