Diplomacy
Chinese Premier Li Keqiang seeks trust in India as border issue continues to irk
Chinese Premier Li Keqiang is seeking to build trust with India on his first foreign trip since taking office, which comes just a few weeks after a military standoff between the Asian giants on their ill-defined border in the Himalayan mountains. Full Article | Slideshow
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China doubles the amount insurers can invest in private equity
SHANGHAI, July 25 |
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)
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