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China considers allowing insurance firms to buy perpetual bonds issued by smaller banks

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China’s banking and insurance regulator is considering allowing insurance companies to invest in perpetual bonds issued by smaller banks, in a move to help banks to replenish capital and reduce risk in the financial system.

The authority is mulling either lowering or removing the minimum asset requirement for banks to sell perpetual bonds to insurers, said an official from the China Banking and Insurance Regulatory Commission (CBIRC) at a press conference on Friday.

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