Chinese insurance companies to be restricted from investing in real estate

SHANGHAI: A new rule about real estate investment by insurance companies is under discussion, and will be at an appropriate time released, said China's insurance industry regulator on April 20, reported Xinhua.

Insurance companies are forbidden from making any related investment without approval until the release of the new rule. Three points were emphasised -- insurance companies are not allowed to invest in housing property, to invest directly in commercial property or to become involved in real estate development.