Guidelines for domestic and foreign insurers investing in China's stock market were jointly issued by the China Insurance Regulatory Commission (CIRC), the China Securities Regulatory Commission and the China Banking Regulatory Commission. The circular provided details such as seats at bourses, assets custody and settlement. The joint announcement was seen as a ploy by Beijing to lift China's ailing stock markets. Last October, Beijing said it would allow insurance companies to invest up to 5% of their assets in stocks. If every insurer invested their full allotment, they would pump an estimated RMB60bn (over US$7.2bn) into the Shanghai and Shenzhen markets.
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