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Rules for Insurers to Invest in PE Finalized

 

Thursday, Sep 24,2009, 7:10:41 PM   Click:

Rules for insurers in China to invest in equity in unlisted domestic companies are expected to be released by the China Insurance Regulatory Commission (CIRC), the top Chinese insurance regulator, soon.

The CIRC has completed soliciting opinions from the public for the proposal and during the past three months, it discussed with top executives of leading Chinese insurers including China Life Insurance Co., Ltd. (NYSE: LFC, SEHK: 2628, and SSE: 601628), Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318 and SEHK: 2318), China Pacific Insurance (Group) Co., Ltd. (CPIC and SHSE: 610601) and The People's Insurance Company (Group) of China (PICC) about the issue.

The rules have been finalized and the reason why the watchdog has not unveiled them is that the National Development and Reform Commission (NDRC), the nation's top economic planner, will unveil regulations on the management of equity investment funds. Only after that, the rules could be released.

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