Chinese official says 100s of bns of yuan to flow into shares every year from pensions

The announcement is here from earlier:

• China to boost long-term funds for equity markets

Press conference now.

The head of China’s securities regulator (Chairman of the CSRC Wu Qing) says

• there will be at least hundreds of billions of yuan in new long-term capital for A-shares every year from state-owned insurance companies.
• A pilot scheme allowing insurers to buy stocks will be implemented in the first half of 2025, with an initial scale of at least 100 billion yuan.

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