Small- and medium-sized insurers will be allowed to invest in infrastructure projects by buying up debts, the South China Morning Post reported. The China Insurance Regulatory Commission (CIRC) made the announcement at a meeting in Ningxia last week, industry sources told the paper. As it stands, only four large insurers – Ping An, China Pacific, Taikang and Tai Ping – have been permitted to venture into the infrastructure funds. These four firms have bought into the US$2.3 billion in debt-financing for the high-speed rail link between Shanghai and Beijing. Regulations regarding indirect investment in infrastructure projects by insurance companies were released in March 2006. It is believed the CIRC will cap infrastructure investments at 8% of an insurance company’s total assets, of which 5% would be for debt investment and 3% for equity investment.