February 12, 2018 / 7:21 AM / 7 days ago

China to cap insurance firms' offshore financing

BEIJING (Reuters) - China’s insurance regulator said on Monday that insurance firms must cap their outstanding offshore financing amount that is backed by domestic guarantees at 20 pct of net assets as of the end of the previous quarter.

The notice was posted on the website of the China Insurance Regulatory Commission.

Reporting by Beijing Monitoring DeskEditing by Shri Navaratnam

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