China plans to raise insurers' real estate and infrastructure investment cap
SHANGHAI Oct 11 (Reuters) - China's insurance regulator plans to raise insurers' investment caps on real estate and infrastructure projects, the official China Securities Journal reported on Friday.
The China Insurance Regulatory Commission (CIRC) will limit insurers' investment in real estate and infrastructure to 30 percent of total assets, up from the current cap of 20 percent, the paper reported, citing draft rules circulated to insurers.
In addition, the regulator is looking to scrap restrictions on the types of infrastructure projects insurers are allowed to invest in, it said.
The CIRC will also re-classify insurers' investment asset classes to bring them in line with international standards, the report added.
Under the new rules, insurers will be allowed to invest up to 30 percent of their assets in listed shares and private equity, compared with the current cap of 25 percent on stocks and 10 percent on private equity, the report said. (Reporting by Samuel Shen and Kazunori Takada; Editing by Shri Navaratnam)
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