China Post Life Insurance approved to issue no more than 1.2 billion yuan of perpetual capital bonds

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Recently, the Beijing Regulatory Bureau of the National Financial Supervision and Administration released an approval, granting Zhongyin Life Insurance permission to publicly issue perpetual bonds in the national interbank bond market, with an issuance scale not exceeding 1.2 billion yuan (including 1.2 billion yuan).

The approval indicates that Zhongyin Life Insurance must strictly comply with the “Notice from the People’s Bank of China and the China Banking and Insurance Regulatory Commission on Matters Related to the Issuance of Perpetual Bonds by Insurance Companies” (Yin Fa [2022] No. 175), and the “Announcement No. 3 of 2015 from the People’s Bank of China and the China Insurance Regulatory Commission (Regarding Matters Related to the Issuance of Capital Supplement Bonds by Insurance Companies)” among other relevant regulations.

Zhongyin Life Insurance must complete the issuance matters within the timeframe permitted by the bond market regulatory authority, and report to the bureau on the relevant issuance situation within 10 working days after the issuance is completed.

(National Financial Supervision and Administration)

(Editor: Qian Xiaorui)

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