In order to help insurers use the insurance fund efficiently and to further expand the scope of permitted foreign investments, FSC recently proposed to amend the “Regulations Governing Foreign Investment by Insurance Enterprises,” continuing to relax foreign investment restrictions.  The new regulation, if promulgated, will permit qualified insurers to invest in foreign properties (including Mainland China) via special purpose vehicles.  FSC also decided to further relax the rules governing foreign investment by insurance enterprises required for sales of foreign currency denominated non-investment products by allowing qualified insurers to apply for special approvals to exclude the aforesaid investments entirely from the foreign investment limit if it is corresponding to the non-investment products.  By doing so, FSC hopes that the Regulations will provide a more reasonable business environment for the insurers—in particular small- or middle-size insurers—and balance business developments for insurance policies in different currencies.  The proposed draft Regulations has been published by FSC on April 11, 2013 and is expected to be officially promulgated soon.