Chinese insurers allowed to invest in ChiNext stocks

China Insurance Regulatory Commission said in a statement on Tuesday that insurers can invest in startups listed on the Nasdaq-like ChiNext board in Shenzhen as part of measures to support economic restructuring and smaller companies, Bloomberg reported. Insurers must disclose their holdings should they reach or exceed 5% and they are barred from investing in companies under regulatory investigation, that have been punished in the past year or have been censured by the stock exchange. The ChiNext market, an alternative for smaller Chinese companies looking to raise funds, was created in 2009 and has fewer listing requirements than China’s two main boards.