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October 25, 2004

China: Insurance firms allowed to directly invest in stock

China's insurance regulator has allowed the country's insurance companies to invest the equivalent of up to 5 percent of their assets directly into the stock market, a measure long expected by the market.

The China Insurance Regulatory Commission (CIRC) said that insurers can directly purchase stocks, convertible bonds and other instrumnts.

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Posted by Tom Troceen