CIRC Encourages Insurers to List on National OTC Stock Market

(Beijing) – The China Insurance Regulatory Commission released a policy on August 15 encouraging insurance companies to list on the so-called New Third Board, a national over-the-counter market to exchange equity shares in non-public companies. The policy also permits "natural persons," i.e., individuals as distinct from enterprises and institutional investors, to invest in insurance companies listed on the board. Previously, natural persons cannot hold equity in insurance companies unless the firms are listed on a stock exchange.