China's insurance regulator may allow insurance groups or insurance holding companies to launch subordinated debt, the industry watchdog said in a statement late Tuesday.

The move comes after the regulator revised management rules on insurers' subordinated debt.

The original rule — released on Oct 19, 2011 — didn't allow the participation of insurance groups and holding companies in subordinated debt deals.

Launching subordinated debt deals is an important way to raise money for insurers.

Subordinated debt deals in 2012 were worth around 73.1 billion yuan ($11.64 billion), up 26.6 percent year-on-year.