News Life and Health01 Nov 2018

China:Insurers' investments in SMEs total $1.7bn

01 Nov 2018

The insurance industry directly or indirectly invested in small and medium-sized enterprises to the tune of CNY11.83bn ($1.7bn) as at 31 August, according to Mr Wang Zhaoxing, a vice chairman of the CBIRC.

The total includes investments of CNY4.93bn in venture capital funds, CNY2bn in SME private equity funds and CNY4.9bn in SME equity investment plans.

In addition, from January to September 2018, credit insurance and loan guarantee insurance backed financing and credit enhancement services provided to 502,700 small and micro enterprises, which enabled them to obtain bank loans of CNY65.85bn.


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