Proposal to allow PE investment by insurers

A CPPCC member has proposed the industry regulator allow insurers to undertake private equity investment in order to spread their risks.

"Due to the already high valuation of A shares, insurance capital's entry into the PE sector can help spread investment risks," Yang Chao, chairman of the country's largest life insurer China Life, has said in his proposal to the CPPCC.

Yang is a new member of the 11th National Committee of the CPPCC.