As China's first insurance asset trading platform, the Shanghai Insurance Exchange started a trial run recently, the Shanghai Securities News reported on Friday.
According to the report, two insurance asset management products have debuted on the bourse with total registered value of 7.88 billion yuan.
One product is an asset-backed securities (ABS) product whose underlining assets are policy loans from China Pacific Life Insurance. It is under management by Changjiang Pension Insurance Co, a China Pacific affiliate.
The other product is a debt investment product issued by Taiping Asset Management Co. that allows capital to tap public-private-partnership (PPP) investment project in Dujiangyan in southern Sichuan Province.
The first batch of the two products has a combined value of 1.6 billion yuan, according to the report.
20-plus financial institutions became the first batch of users of the Shanghai Insurance Exchange.
The establishment of the Shanghai Insurance Exchange is aimed at providing a trading platform for ABS products under the supervision of China Insurance Regulatory Commission, said an industrial insider.
Data showed that China issued overall 159.060 billion yuan worth of ABS on the interbank market and about 246.348 billion yuan ABS on exchange market in the first eight months of 2016.
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