New investment rules announced

The minimum investment by a single investor in asset management products issued by insurance companies must be at least 1 million yuan ($160, 500), according to a rule released Sunday by the insurance regulator.

For private placement issued by insurance asset management companies, a single investor should put in no less than 30 million yuan ($4.8 million)； for products issued for several investors, the number of investors should be no more than 200, with each investor's primary subscription fund worth no less than 1 million yuan, according to the regulations.

Three companies - PICC Asset Management Co, Taikang Asset Management Co and Taiping Asset Management Co - have filed applications to offer asset management products so far, the regulator said.