Chinese insurers set up $7b fund to invest in stocks

Chinese insurers set up $7b fund to invest in stocks

FILE PHOTO: A Chinese flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China February 8, 2024. REUTERS/Florence Lo/File Photo

A 50 billion yuan ($7 billion) fund jointly set up by China Life Insurance Co and New China Life Insurance Co is ready to start investing in China’s stock market, according to registration record and state media.