CHINESE insurers' investments rose 60 percent in the first 11 months due to a broader investment scope, the industry watchdog said yesterday.
Insurance investments rose to 1.83 trillion yuan (US$245.6 billion) through November, the China Insurance Regulatory Commission said yesterday on its Website.
China has allowed 20 insurers to invest overseas, mainly in the Hong Kong stock market, under the qualified domestic institutional investor scheme, the top insurance regulator said in November.
Insurers including Ping An, China Life, Taikang, Sino Life and American International Assurance have won the go-ahead to invest in the Hong Kong market.
The investments are mainly limited to H-shares and red chips. H-shares are the shares of Chinese mainland companies and red chips are shares of overseas-incorporated companies whose main business is derived from the mainland.
In July, China raised the limit for domestic insurers to invest in overseas stocks and bonds from five percent to 15 percent of assets.
Insurers' bank deposits expanded at a slower pace than investment holdings in the first 11 months, climbing 40.6 percent to 799.3 billion yuan.