Chairman of CIRC on Insurance Capital

Ma Yongwei, chairman of the China Insurance Regulatory Commission (CIRC) told news media Sunday that no schedule has been set for direct entry of insurance capital into stock markets.

He said that insurance capital at present enters into the stock markets indirectly through investment security funds, however, direct entry is possible following a further opening of investment channels of insurance capital. A detailed schedule is unavailable currently.

It was reported that Ma Yongwei once told at the CPC and CPPCC two sessions called earlier this year that greater average profit growth had been reaped by insurance capital from stock markets last year than other general investments. He revealed that a new plan for expanding investment channel has been under consideration with China Securities Regulatory Commission and other departments concerned.

By PD Online staff member Deng Gang

People's Daily Online ---