LONDON, NEW YORK, OPEN TO CHINESE INSURERS BY YEAR-END

China will relax rules on insurers’ investments within the next one to two months, according to the China Insurance Regulatory Commission (CIRC). Sun Jianyong, director-general of the CIRC’s insurance fund management regulatory department, said that regulators were encouraging insurers to look beyond Hong Kong to diversify their stockholdings. He said that the overall trend was to “deregulate step by step”. Mr Sun said that China would also increase the flexibility of foreign exchange transactions for insurers.