China's financial regulatory administrator approved the second batch of participants in an initiative to support the stock market via the injection of long-term capital, The South China Morning Post reported Monday.
The list included China Pacific Insurance (HKG:2601, SHA:601601), Taikang Life Insurance and Sunshine Life Insurance, who will participate in a pilot program through contractual funds worth 52 billion yuan, according to the report.
The move followed an action plan by China's six financial regulators urging institutional investors to boost holdings in Chinese stocks amid uncertainties stemming from US President Donald Trump's second term, the SCMP wrote.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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