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The company has made a decision to buy into an unlisted company and concerned application has been submitted to the China Insurance Regulatory Commission (CIRC), the top Chinese insurance regulator. Currently, the capital it spent on investing in products with fixed yields accounts for about 80 percent of the total it used for investment. In addition, it expects to catch more investment opportunities in market overseas.
Insurers in China have been allowed to buy into the nation's unlisted companies and the insurance capital can be either used to invest in infrastructure construction or buy stake in unlisted companies. Presently, the capital has been used to fuel the nation's Beijing Shanghai Express Railway project.
From www.cnstock.com, Page 1, Wednesday, November 12, 2008 info@SinoCast.Com
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