Caixin
Dec 02, 2021 08:53 PM
FINANCE

Chinese Insurers Told to Submit Details of Property Investments Amid Probe Into Misuse of Funds

Beijing Insurance Business Park on Nov. 8, 2020. Photo: VCG
Beijing Insurance Business Park on Nov. 8, 2020. Photo: VCG

China’s insurance regulator has asked firms in the industry to report a breakdown of their property investments through bonds, stocks and other instruments, amid a campaign to contain risks and tackle misuse of insurance funds.

As of the end of October, the industry’s outstanding insurance funds reached 22.6 trillion yuan ($3.5 trillion), according to data from the China Banking and Insurance Regulatory Commission (CBIRC). The funds can be used to invest in a wide range of assets.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code