China to allow insurance companies to invest abroad.

(From Business Daily Update)

Author: China is working on a program to allow insurance companies to invest in overseas capital markets, said a high-level Chinese official. "The State Council has approved in principle our proposal to allow insurance companies to invest in overseas capital markets," said Ma Delun, deputy director of the State Administration of Foreign Exchange (SAFE). "We and the China Securities Regulatory Commission are currently working on details of the program," Ma said at a recent forum on the capital market, explaining that Chinese insurance companies lack channels to …