PING An Insurance (Group) Co has no plans to raise capital or buy back stock to boost stock prices in the short term, Chairman and Chief Executive Officer Peter Ma said yesterday.

The Shenzhen-based insurer has plenty of capital on hand for the short term development of its business including insurance, banking and assets management, Ma said on its interim report briefing in Shanghai yesterday.

The stock regulator said on the weekend that it encouraged listed companies to buy back their shares to stabilize their prices.

Ma said there was no immediate plan on the issue and that the senior management will study related rules.

Ma said he hadn't cut or added to his holdings of the company's shares this year. Ping An's yuan-denominated A shares had evaporated 62 percent over the year in Shanghai.

The insurer's shares started to tumble in late January after it announced a plan to sell up to 1.2 billion new yuan-backed A shares, plus 41.2 billion yuan of six-year convertible bonds with detachable warrants.

The company was accused of being the trigger for the sliding market with mammoth additional share sales plans.

Ma said he was cautious about the performance of the capital market and that it would be a challenge to match last year's profits.