Friday, December 26, 2008

China to Encourage More Stock Investment by Insurers, Funds

China's securities regulator will encourage pension funds, insurers and mutual funds to invest more in the nation's stock market, according to a senior official.

The China Securities Regulatory Commission will also support mergers and acquisitions by listed companies, said Liu Xinhua, assistant chairman of the regulator, at a conference in Beijing today.

The nation's benchmark CSI 300 Index has rebounded 15 percent from a two-year low on Nov. 4 after the government last month unveiled a 4 trillion yuan ($586 billion) spending plan to stimulate growth. The measure remains Asia's second-worst performer so far this year, with the slowing economy driving the index down by 65 percent since Jan. 1.

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