All Hands on Deck: China Urges Insurance Companies to Prop up Stock Market

via caixinglobal:

China is encouraging insurance companies to invest more of their $2.65 trillion of assets in securities as part of the government’s efforts to bolster liquidity and revitalize the gloomy capital markets.

The commission wants insurance institutions to use their long-term funds to invest in more high-quality stocks and bonds and expand their investment through specialized equity-investment products, Xiao Yuanqi, a spokesman for the China Banking and Insurance Regulatory Commission (CBIRC), told media Monday.