Ministry of Human Resources and Social Security (MOHRSS) vice minister Li Zhong said at a recent press conference that the basic pension insurance fund's assets under management have reached CNY2.6tn($358bn), doubling from the end of the 13th Five-Year Plan (China's economic and social development blueprint for 2016-2020). Since investment operations began in late 2016, the fund has achieved positive returns for eight consecutive years, with an average annual yield of 5.15%, successfully preserving and growing its value.
The Insurance and Pensions Commission (IPEC) says that the sector has invested millions of dollars in agriculture, energy and infrastructure development in line with prescribed asset regulatory requirements.
These are the updates on insurance regulatory developments in China.
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