CHINA INSURERS STEP UP NON-BANK INVESTMENTS

Chinese insurers and assurers increased their investments in bonds and equities by 53% to 1.5tn yuan ($196bn) between January and May, while bank deposits grew by 28% to 700bn yuan, according to figures from the China Insurance Regulatory Commission (CIRC). Chinese insurers recorded stock investment gains of 8.92bn yuan, and currently have more than 10% of their assets in domestic equities. Qualified insurers are scheduled to receive permission to buy overseas-listed stocks within three months, with a cap of 15% of assets expected, equal to 364bn yuan.