Equity ratio restrictions on insurance companies can be reduced and large companies are encouraged to get listed or make shareholding reforms, China Insurance Regulatory Commission (CIRC) announced in its latest notice.

According to the notice, national, private and foreign capitals are now welcome to invest in insurance companies and shareholdings can be diversified.

Equity ratio restrictions, which rule that the equity ratio of a sole shareholder can not exceed 20 percent, can now be loosened.

The notice also said CIRC will support People's Insurance Company of China (PICC), China Reinsurance Co, and all other qualified insurance companies in going public. The Commission also said that the overall shareholding reform of China Life Insurance Co will be promoted.