SHANGHAI: China's banking and insurance sector regulator is probing Ping An Insurance Group Co of China Ltd's investments in the property market, two people with knowledge of the matter said, after the firm took a big profit hit from a soured bet.
The China Banking and Insurance Regulatory Commission (CBIRC) has also ordered the insurer to stop selling alternative investment products, which are typically tied to the property market, said the people, who declined to be identified as the information is not public.
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