Tighter controls on cards for insurers

The China Insurance Regulatory Commission said on Tuesday that it would tighten regulations for insurers to reduce the risks from equity investments.

Several insurance firms have been making aggressive equity investments recently with leveraged trading and this could endanger their ability to meet financial obligations.

Xiang Junbo, chairman of the China Insurance Regulatory Commission, warned of the "emerging risks along with the rising number of market players and the expansion of their investment channels".