Thursday, December 14, 2017

Chinese majors target more overseas investments in 2018

Investment managers at some of China’s largest insurance groups have announced plans to invest more abroad next year as China’s foreign exchange reserves stabilise.

China’s plan to relax restrictions on overseas investments in 2018 has also encouraged major insurers to increase allocation in alternative investments abroad. Chen Yijiang, head of investments at New China Life, one of China’s largest insurance groups, told the Financial Times that regulators will make it easier for insurance companies to allocate overseas next year as the pressure on foreign exchange has eased this year.

A survey conducted by Standard Life Investments showed that about 64% of Chinese insurers are planning to increase allocation to international markets over the next three to five years.

The China Insurance Regulatory Commission allows insurers to allocate up to 15% of total assets to foreign investments.

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