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China's insurance regulator has issued an announcement allowing the country's insurers and reinsurers to operate asset management units, reported Artemis.bm.
Under the rules, the China Insurance Regulatory Commission will allow insurers, reinsurers, insurance holding firms and insurance asset managers with solid risk-bearing capabilities to run investment management businesses. The regulator said that this move "is favourable to enrich the investment tools of insurance capital, motivating the connection and interaction between the insurance market and the capital market."