SHANGHAI, July 25 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
India's economic growth picked up in July-September, outpacing China on improving domestic demand and manufacturing activity, and the acceleration could persuade the country's central bank to keep interest rates unchanged at its Tuesday meeting. Full Article