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Overseas Insurance Permitted to Increase Investment in China's Capital Market
The China Insurance Regulatory Commission has permitted up 10 percent of total assets of the Pacific-Aetna Life Insurance Co. Ltd. to be invested in securities in China.
The Pacific-Aetna Life Insurance was China's first Sino-US insurance company, opened in Shanghai on October 16, 1998.
In the past, the company was permitted to invest only 5 percent of its total assets in securities in China.
"We will continue to permit some insurance companies to invest more funds in China's capital market, based on their operation performance," said Ma Yongwei, Chairman of the China Insurance Regulatory Commission.
The Pacific-Aetna Life Insurance has reported an investment return of over 30 percent since it entered the security market last year.
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