BEIJING, June 30 (Xinhua) -- Insurance authorities have allowed Chinese mainland insurance companies to invest in Hong Kong shares via the Shenzhen-Hong Kong Stock Connect.
Insurers are permitted to use their securities investment funds -- which are controlled by qualified fund managers -- to buy Hong Kong stocks, the China Insurance Regulatory Commission (CIRC) said in an online statement.
The new access to the Hong Kong market will help them improve asset structures, minimize risk and increase returns, the CIRC said.
The stock connect was launched in December 2016 for investors to trade selected stocks on each other's exchanges. A similar stock connect between Shanghai and Hong Kong bourses was opened in November 2014.
Trading links between Hong Kong and the two cities on the mainland were also significant steps enabling foreign investors to buy A-shares with fewer restrictions than previous regimes.
A connection of the mainland and Hong Kong bond markets is in the pipeline.
A single purchase
