China regulator to step up curbs on insurers' stock speculation
Shanghai
CHINA'S top insurance official followed the nation's securities authority in denouncing insurers' leveraged buying spree in listed firms, pledging to step up scrutiny of stock-trading activities by the most aggressive acquirers.
The China Insurance Regulatory Commission (CIRC) chairman Xiang Junbo questioned the recent aggressive investments by insurers, ranging from buying sizeable stakes in listed companies to speculating in stocks with dramatic swings, according to a statement on the regulator's website that was based on an internal speech by Mr Xiang.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Carnival’s Princess brand revises 2025 world cruise routes amid Red Sea tensions
Google to pay up to US$6 million to News Corp for new AI content, The Information reports
Restaurant Brands tops estimates as Burger King overhaul pays off
Yen falls after suspected intervention on Monday; eyes on Fed
US: Wall St opens lower on labour costs data
TikTok shop tops 500,000 US sellers after 2023 e-commerce launch