News Snapshot:
SHANGHAI: China’s banking and insurance regulator is investigating Ping An Insurance Group Co of China Ltd’s investment in the real estate market, two people with knowledge of the matter said after the company made a big profit from a bet embittered. The China Banking and Insurance Regulatory Commission (CBIRC) also ordered the insurer to stop selling alternative investment products, which are usually tied to the real estate market, said the people, who declined to be identified because the information is not public. Ping An said in a statement that its real estate exposure was significantly below the regulatory cap. He...
