Insurance News
- Insurance firms to invest in real estate
Date: 30-May-2007 Sources: (Shenzhen Daily)
THE government is set to allow domestic insurance companies to invest in real estate, the Shanghai Securities News reported over the weekend.
Insurance companies have already received in principle approval to invest in real estate, the paper quoted Zhou Daoxu, vice chairman of the China Insurance Regulatory Commission's policy research department, as saying. Insurance companies must still await detailed rules being formulated by the commission before beginning to make investments, he added. Asked whether the rules would be issued by the end of the year, Zhou said he could not give an explicit timetable, according to the report.
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