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BREAKING NEWS

China issues rules on insurance investments in trust products - sources

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SHANGHAI (Reuters) – China’s banking and insurance regulator has issued detailed rules to regulate insurance investments in trust products, two sources with the knowledge of the matter told Reuters on Friday, part of a campaign to fend off financial risks.

In a notice issued last week and seen by Reuters, the regulator set a ceiling for the amount of money insurers can put in single collective trust products and banned them from using such investments to bypass regulations for other purposes.

(Reporting by Zheng Li in SHANGHAI; Writing by Shu Zhang in SINGAPORE, Cheng Leng and Ryan Woo in BEIJING; Editing by Edmund Blair)

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