HONG KONG: China plans to loosen investment restrictions on its 1.52 trillion yuan (US$189bil) insurance industry, allowing companies to boost returns by acquiring fund management businesses and real estate.
Companies including China Life Insurance Co and Ping An Insurance (Group) Co will be allowed to invest in property and infrastructure projects, according to draft rules circulated for consultation by the China Insurance Regulatory Commission and obtained by Bloomberg News recently. The Beijing-based regulator will issue separate rules that permit insurers to buy control of financial institutions, the draft said.
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