SHANGHAI, July 25 (Reuters) - China's insurance regulator said on Wednesday it has doubled the amount insurers can invest in private equity, part of efforts to broaden their investment scope.
Insurers will be permitted to invest up to 10 percent of their total assets in private equity compared with 5 percent previously, the China Insurance Regulatory Commission (CIRC) said in rules published on its website. That confirms a previous Reuters story.
The move would potentially unleash about $50 billion of fresh capital into unlisted firms. (Reporting by Samuel Shen and Jacqueline Wong)
Trending On Reuters
Overwhelmed doctors moved hundreds of patients onto the streets of Nepal's capital on Sunday when aftershocks rattled hospitals and buildings already damaged by an earthquake that killed more than 2,400 people and devastated Kathmandu valley. Full Article | Slideshow
RBI chief Rajan calls for formal financing routes for farmers - report Full Article