They submit equity, bond and fund of fund requests in a move to compete with mainstream managers. Further, CSRC unveils new guidelines on launching mutual fund businesses.
China's insurance regulator has awarded asset management licences to seven domestic fund houses and two brokerages as it ups liberalisation. The next batch is expected soon.
The subsidiary of China Life Insurance may develop enterprise annuity products with guaranteed pay-out options after going live with a new investment management system.
A move to allow insurers to outsource investments offers a key growth channel for domestic asset managers and looks set to stir competition for mandates.
China is about to approve real estate investment rules for insurers, with the authorities mindful that insurance capital should not be used to encourage speculative bubbles.
The CIRC believes salary levels in the mainland's nascent insurance industry are too high, and is moving to put a cap on the pay scales of investment and management professionals.
Assistant chairman Yuan Li shares his views on ChinaÆs economy, the global financial crisis and the domestic insurance industry. He gives an update on QDII, real estate, private equity and infrastructure plans.