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<Research>Citi: CN State Council Proposes 10 Measures to Shore up CN Large Insurers, Improve Regulatory Environment
Recommend 10 Positive 12 Negative 5 |
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China's State Council has issued "Opinions on Strengthening Supervision, Preventing Risks, and Promoting High-Quality Development of the Insurance Industry", which includes support for large insurance institutions to become stronger and more competitive. It also aims to guide small and medium-sized insurance companies towards specialized and distinctive development, and to enhance the long-term capital management capabilities of insurance asset management companies. Citi released a report on the State Council's new 10 measures to promote the healthy development of the insurance industry in China. In line with its outlook report for 2H24, the broker believes that the regulatory environment in China has become more positive, ending the prolonged tightening cycle since 2018. With encouragement for large insurance companies to expand and allowing struggling small insurance companies to go bankrupt, the broker expects market leaders such as PICC P&C (02328.HK) to gain market share. AAStocks Financial News |
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