综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Economy

Markets

Industries

Insights

Reports

Events

Insurers net overweight stocks in January

(Xinhua)
Updated: 2009-02-27 13:47

Chinese insurers recorded a total net purchase of stocks in January, the China Insurance Regulatory Commission (CIRC) said Thursday to dispel rumors of an industry sell-off.

Related readings:  Insurer hopes to make a turnaround  Insurer H1 results exceed forecast  China tightens insurer reporting on holdings abroad

Last month, insurance firms bought 13.76 billion yuan ($2.01 billion) of shares and sold 11.64 billion yuan of shares, making a net purchase of 2.1 billion yuan, the CIRC said in a statement on its website.

The CIRC made the remarks in response to a market rumor that the insurance industry saw net sales of 10.1 billion yuan of equities in January.

Total revenue from insurance premiums rose 8.6 percent year on year to 114.8 billion yuan last month, Li Kemu, CIRC vice chairman, told a press briefing here Thursday.

Total assets of the insurance industry were 3.38 trillion yuan by the end of last month. Of the total, insurers invested 3.06 trillion yuan in assets.

CIRC statistics show that 83.9 percent of the total investment was in bank deposits and bonds. Another 13.9 percent was invested in equities and mutual funds and the remaining 2.2 percent invested in other assets.

The CIRC also dismissed market talk saying it would reduce the ceiling -- currently 10 percent of total assets -- that insurers were allowed to invest directly in the stock markets.

"This is purely a rumor," it said in another statement.

The insurers should stick to prudent long-term and value investments to help maintain the stability of the capital market, it said.

Yuan Li, CIRC assistant chairman, said the agency would increase investment tools and expand investment channels.

"We will add more bonds for insurance fund investment and expand investment in infrastructure and stakes in non-public companies," Yuan said. "We will also allow some small and medium-sized insurers to invest directly in stocks."