China regulator eases insurers' bond investment rules to replenish bank capital

SHANGHAI (Reuters) - China's banking and insurance regulator on Wednesday said it was relaxing rules for insurers investing in bonds used to replenish banks' capital.The China Banking and Insurance Regulatory Commission (CBIRC) said in a statement that it would expand the range of issuers in which insurers are able to invest and abolish requirements that banks' tier-two capital bonds and perpetual bonds meet certain external credit ratings.