China pushes to diversify stock market investment - Securities Times
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BEIJING (Reuters) - China will encourage the development of annuities and endowment insurance to diversify people's investment into the stock market, instead of direct share purchases from savings, the government-backed Securities Times said."The key consideration is to cultivate a multi-layer capital market," the newspaper reported, quoting Xiao Yuanqi, spokesman of China Banking and Insurance Regulatory Commission (CBIRC)."There'll be part of savings flows to the institutional investors for..