Published: 5:15pm, 14 Dec, 2016 Updated: 8:46pm, 20 Jul, 2018
The China Insurance Regulatory Commission (CIRC) is launching a series of measures to rein in frequent and aggressive stock trading. These include reverting the limit on equity exposures in insurers’ investment portfolios back to 30%, having just raised it to 40% 14 Dec, 2016 to shore up the falling stock market, and cutting the percentage of total assets an insurer can invest in a single stock from 10% to 5%. Insurers in China will also be forbidden from allying with non-insurance firms to buy listed companies. CIRC chairman Xiang Junbo said "insurers should be long-term investors rather than short-term speculators".