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Thursday, August 11, 2022

China to cap insurance firms’ offshore financing

China to cap insurance firms' offshore financing© Reuters. A man walks past an office building of CIRC in Beijing

BEIJING (Reuters) – China’s insurance regulator said on Monday that insurance firms must cap their outstanding offshore financing amount that is backed by domestic guarantees at 20 pct of net assets as of the end of the previous quarter.

The notice was posted on the website of the China Insurance Regulatory Commission.

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Source: Investing.com

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