Economy34 minutes ago (Nov 30, 2021 04:25AM ET)
© Reuters. Neon signs illuminate China’s listed companies including China Life Insurance, TCL Corporation, China Pacific Insurance Company (CPIC), Xiaomi Inc (Mi), Beijing Enterprises Holdings (bottom), Bank of Communications (2nd L) and China Taiping Insurance Hold
BEIJING (Reuters) – China’s banking and insurance regulator on Tuesday issued new requirements in the risk management and investment activities of insurance groups, to step up supervision and prevent risks of the sector.
The rules was updated from its earlier version in 2010 to adapt with significant changes in the development of insurance groups over years, and the external environment, according to a website statement of the China Banking and Insurance Regulatory Commission (CBIRC).
China has 13 insurance groups with a total asset of 2.2 trillion yuan ($345.29 billion) under management as of end-2020, dominating the insurance market, it said.
($1 = 6.3714 renminbi)
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.