China’s CSRC approves $7.25B stock investment pilot programs for insurers & asset managers

China’s financial regulator – China Securities Regulatory Commission – has approved a second batch of long-term stock investment pilot programs worth 52 billion yuan ($7.25 billion).

• Major insurers, including China Pacific Life, Taikang Life, and Sunshine Life, along with asset management firms, will participate through contractual funds.
• The initiative aims to enhance market stability by leveraging long-term and patient capital.
• This follows a newly announced plan last week by Chinese financial authorities to encourage medium- and long-term investment in the stock market to support stable performance.

Info via Xinhua on Sunday, China time.

This article was written by Eamonn Sheridan at www.forexlive.com.