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China's PICC becomes State-controlled share-holding company

(Xinhua)
Updated: 2009-09-24 13:44

Related readings:  PICC profits only 26% of estimates  PICC says AIG won't sell stake

People's Insuance Company of China (PICC), the nation's largest insurance conglomerate, has transformed from a solely State-owned company to a State-controlled shareholding insurer, the company said Thursday.

The new company is set up with a registration capital of 30.6 billion yuan ($4.5 billion).