Key facts
- Several of China's largest insurers pledged to increase long-term equity investment.
- The insurers aim to support the domestic stock market after a week of steep losses.
- The coordinated statements underscore Beijing's efforts to shore up sentiment and channel liquidity.
Several of China’s largest insurers announced on Monday they would increase long-term equity investment to support the domestic stock market following a week of significant losses. The coordinated statements from state-backed institutional investors and centrally administered enterprises highlight Beijing's intensified efforts to bolster market sentiment and direct liquidity into the market amid a prolonged correction.
Participating insurers included China Life, PICC, China Pacific, Ping An, and New China Life.