(Bloomberg) -- China will ease rules to allow insurers to invest in unlisted firms for financial purposes, part of its broader efforts to encourage equity financing.
Insurers will no longer be restricted to investing in financial institutions and those in insurance-linked segments, like elderly care and health care, the nation's banking and insurance regulator said in a statement Friday.
The watchdog also set up a negative list prohibiting insurers from investing in firms involved in property development as well as those with major default events in the latest three years, among other scenarios. Preferred target companies should be in strategic emerging industries or have a clear intent to pursue an initial public offering, it added.
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