Mutual funds and State-owned insurance companies will increase their holdings in the A-share market starting this year, said Wu Qing, chairman of the China Securities Regulatory Commission.

Wu said at a news conference on Thursday that the implementation plan for promoting the entry of medium and long-term capital into the stock market, unveiled on Wednesday, has specified that mutual funds will increase their holdings of free-float A shares by at least 10 percent each year over the coming three years.

The plan also called for large State-owned commercial insurance companies to allocate 30 percent of their annual new premiums to A-share investments starting 2025, Wu said.