China issues draft rules on perpetual bonds sales by insurance cos

BEIJING, Nov 19 (Reuters): China's central bank and banking and insurance regulator issued draft rules on Friday on the issuance of perpetual bonds by country's insurance companies.

The new rules aims to improve the capital replenishment and risk resistance of insurance firms, and to protect the interests of investors, the People's Bank of China and the China Banking and Insurance Regulatory Commission said in a joint statement.