Briefly

China raises retail gasoline, diesel prices

China raised the retail prices of gasoline and diesel on Thursday, based on recent changes in international oil prices. Gasoline and diesel prices increased by 90 yuan ($12.6) and 85 yuan per metric ton, respectively, said the National Development and Reform Commission. China's three biggest oil companies — China National Petroleum Corp, China Petrochemical Corp and China National Offshore Oil Corp — along with downstream oil refineries, have been directed to maintain oil production and facilitate transportation to ensure stable supplies.

Commercial insurance annuities get support

China will vigorously promote the development of commercial insurance annuities, the National Financial Regulatory Administration said in a circular on Wednesday. The circular specified the concept of commercial insurance annuities as products developed by commercial insurance companies with functions such as pension risk management and stable accumulation of long-term funds, which includes qualified annuity insurance, endowment insurance and commercial pensions. The circular called for efforts to develop various kinds of pension annuity and insurance products, and said insurance companies should continue to improve the efficacy of pension risk assessment, pension planning and management throughout the entire life cycle of clients.

Xinhua - China Daily