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December 29, 2016

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CIRC action hits shares

SHANGHAI shares fell yesterday, after the insurance regulator suspended the online business of two insurance companies for their aggressive stock investments. The Shanghai Composite Index dipped 0.4 percent to 3,102.24 points, the lowest since October 31. The China Insurance Regulatory Commission suspended Hua Insurance Co and Soochow Life Insurance Co from operating online insurance business. They are also barred from applying for new product approvals for three months.


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