China aims to drive billions from state insurers into mainland stocks

Shares jump but lose steam after regulator reveals goal of investing 30% of new premiums

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A electronic billboard in Shanghai shows stock market data on Jan. 21. Chinese authorities aim to drive insurance funds into domestic shares. © Reuters

WATARU SUZUKI and ECHO WONG

SHANGHAI/HONG KONG -- The head of China's securities regulator on Thursday announced new measures to increase insurance companies' holdings of Chinese stocks, marking the latest effort to boost investor sentiment just ahead of the Lunar New Year holiday next week.

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