BEIJING   - China’s top securities regulator has unveiled revised provisions of the Stock Connect programme between domestic and overseas stock exchanges to expand its scope. Previously, only companies listed on the Shanghai and London stock exchanges can participate in Stock Connect. According to the new provisions released by the China Securities Regulatory Commission (CSRC) on Friday, eligible companies listed on the Shenzhen Stock Exchange will be included, along with stock exchanges in Switzerland and Germany. The provisions, which already entered into force, introduce arrangements for allowing overseas issuers to raise capital in the domestic market through China Depositary Receipt offerings and adopt a market-inquiry pricing mechanism. Better and more flexible arrangements are also made for annual report disclosure requirements and the disclosure of changes in share-holding, according to the provisions. Considering that the quota for eastbound and westbound business is still ample, the total cross-border capital quota for the existing interconnected depositary receipt business remains unchanged. The quota for eastbound business remains at 250 billion yuan (about 39.26 billion US dollars), while that for westbound remains at 300 billion yuan. Adjustments will be made in terms of business situations and market demands, the CSRC said.

Chinese-owned MPV brands see decline in market share

Chinese-owned brands saw their share of the country’s multi-purpose vehicle (MPV) market fall slightly in 2021, according to data from the China Association of Automobile Manufacturers. Sales of Chinese-owned MPV brands fell 0.3 percent year on year to 720,000 units last year, accounting for 68.3 percent of the total MPV sales in the country. Their market share declined 0.3 percentage points from 2020. Sales of the country’s top 10 MPV models reached 597,000 units, accounting for 82.9 percent of the total.

China’s insurance sector reports steady expansion in 2021

China’s insurance sector has maintained steady expansion and remained solvent last year, according to the country’s banking and insurance regulator. The total assets of Chinese insurers amounted to 24.9 trillion yuan (about 3.91 trillion US dollars) at the end of December, up 11.5 percent from the beginning of 2021, said the China Banking and Insurance Regulatory Commission. Specifically, the total assets of property insurance companies, life insurance companies and reinsurance companies went up 6 percent, 12.4 percent and 22.2 percent, respectively. In 2021, insurers’ premium income increased 4.1 percent year on year to 4.5 trillion yuan. The comprehensive solvency adequacy ratio of insurers, a key metric to measure their ability to meet debt and other obligations, stood at 240 percent at the end of the third quarter of 2021. The average core solvency ratio was 227.3 percent, data showed.