China's banking/insurance regulator to ban insurers from property investments

Credit: REUTERS/TINGSHU WANG

China will ban insurers from making equity investments into companies directly engaging in real estate development or sales businesses, the country's banking and insurance watchdog said on Friday.

BEIJING, Nov 13 (Reuters) - China will ban insurers from making equity investments into companies directly engaging in real estate development or sales businesses, the country's banking and insurance watchdog said on Friday.

The ban by the China Banking and Insurance Regulatory Commission was included in new guidelines for equity investments of insurance companies.

(Reporting by Zhang Yan, Cheng Leng, and Ryan Woo in Beijing. Editing by Jane Merriman)

((Zoey.Zhang@thomsonreuters.com;))

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