CREDITOR’S RIGHTS SCHEME PILOTED IN CHINA

The Chinese Insurance Regulatory Commission (CIRC) is to trial an investment scheme for insurers’ looking to invest in the infrastructure sector. Speaking at a conference on rail communication investment and financing, the deputy director of the CIRC’s Funds Operation and Supervision Department, Zeng Yujin, announced plans for a creditor’s rights investment plan. The first implementation of the plan will be in connection to the construction of a Beijing to Shanghai expressway and will apply to a selective number of insurers through equity transference. The pilot follows the 2005 decision to approve indirect investment in infrastructure projects for insurers.