State-owned insurers and mutual funds are expected to play a pivotal role in the process, the China Securities Regulatory Commission and the Ministry of Finance said in a press briefing.

China on Thursday detailed measures to encourage state-owned funds and insurers to buy more shares, aimed at stabilizing the struggling stock market at a time when U.S. President Donald Trump is preparing to announce tariffs on Chinese imports.

China announced plans on Thursday to channel hundreds of billions of yuan of investment from state-owned insurers into shares as part of the government's latest efforts to support a struggling stock market.

China introduces measures to boost its equity markets by encouraging share buybacks, higher dividends, wealth management, pension and insurance funds to invest in the markets

Starting this year, 30 per cent of the annual insurance premium earned from new coverage policies will be put into yuan-denominated A shares, said Wu Qing.

China is guiding its local mutual funds and insurers to boost investments into stocks in the government’s latest initiative to shore up its ailing equity market.

China said on Wednesday it will guide big state insurers and commercial insurance funds to increase investments in the A-share market, in a latest move to boost its lagging stock market. Under a plan jointly released by six financial regulators including the securities regulator,

Asian equities were higher, except for Hong Kong and Mainland China, which were off following President Trump’s 10% tariff threat, which prompted profit-taking after six days of gains.