Pacific Insurance invests in Shanghai World Expo
(chinadaily.com.cn)
Updated: 2007-08-10 17:13
China Pacific Insurance (Group) Co Ltd has announced a plan to spend three billion yuan (US$396 million) on infrastructure construction for the World Expo 2010 in Shanghai in the next 10 years.
The plan has been approved by the China Insurance Regulatory Commission. It marks the start of the insurance giant's ambitious move toward infrastructure investment and toward indirectly providing funds for World Expo construction through equity investment.
The plan came shortly after the government lifted the ban on insurance funds for infrastructure investment. It focuses mainly on relocation of current residence and premises, as well as new facilities and infrastructure.
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The full text is available in the August Issue ofChina Insurance.
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