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
What seemed like a possibility for the Nifty to cross the 8,000 mark just two weeks ago has now turned out to be a far-fetched dream. A 7,950-8,000 range could be used to book partial profits and re-enter closer to 7,750-7,800 for the next couple of weeks. The next big trigger would be the arrival of monsoons, writes Ambareesh Baliga. Read