Business | CIRC gets tough on insurance firms' stock purchases
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CIRC gets tough on insurance firms’ stock purchases

The most important and market-moving stories from the Chinese-language media

China’s Insurance Regulatory Commission (CIRC) will set restrictions on the level of investment insurance firms can have in listed companies, Caixin reported on Tuesday, citing an exclusive source from the regulator. According to the regulation that is set to be released soon, insurance premiums cannot be used to buy more than 20% of a listed company and share purchases need to be pre-approved by the CIRC.
独家|保监会即将发布一致行动人规则 收购要事先核准用自有资金

Asset holdings of insurance funds cut to 30%

China’s Insurance Regulatory Commission (CIRC) hopes to reduce the proportion of total assets held by insurance funds to 30%, YiCai reported on Tuesday evening, quoting CIRC Deputy Director Chen Wenhui. The limit was raised to 40% last year.
保监会副主席:希望将险资入市比例恢复至救市前水平

China CPIs modest rise to continue: bureau

China’s Consumer Price Index is likely continue its modest pickup, and would not pose a threat to inflation next year, Caixin reported on Tuesday, quoting Mao Shengyong, a National Bureau of Statistics spokesman. The CPI is a major indicator of inflation.
统计局:明年CPI仍会保持温和上涨态势

China Railway opens public bidding for the supply of electric-powered trainsets

China Railway Corporation launched its first public bidding on Tuesday for the provision of electric multiple unit trainsets, Caixin reported. Bids can be no higher than 8.5 billion yuan (US$1.22 billion). The total investment in electric multiple units has dropped 40% compared to last year, a China Railway Corp insider told Caixin.
铁总启动70列动车招标 车辆投资降4成

Economy in a new position,’ says People’s Daily

The People’s Daily ran a front page editorial on Wednesday, saying that China’s economy is in a “new position.” The term was used for the first time to describe the current economic climate. The “new position,” puts more focus on the supply side rather than the demand side of the economy, it said. The Communist Party of China previously coined the term “new normal” to describe the slowdown in economic growth.
中国经济新方位

QR code payments to be in line with international standards

China UnionPay issued new standards on QR code payments, a Caixin report said on Tuesday night. Insiders believe it means domestic banks will have to follow the same international standards when processing QR code payments, which may promote interbank electronic payments.
银联发布二维码支付标准

Transport infrastructure projects are still top driver of fixed-asset investments  

The National Development and Reform Commission approved 26 fixed- asset investment projects worth 264.2 billion yuan in November, increasing 20.7% from last month, sina.com reported. Among the projects, transportation infrastructure is still the top driver of the government’s investment strategy. The seven transportation projects were valued at 158.3 billion yuan, the report added.
投资抢时“播种”明年经济:11月批出2642亿元

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