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China Daily | Updated: 2013-06-20 07:23
Taikang Life makes move into retirement residences
Taikang Life Insurance Co Ltd plans to invest 70 billion yuan ($11.35 billion) in a retirement community chain, according to the 21st Century Business Herald. The investment will account for about 15 percent of the company's total assets. "Since insurers can only allocate a certain percentage of total assets for real estate development, we will invest it all in retirement homes and hospitals," CEO Chen Dongsheng told the newspaper. He added that Taikang is now applying for a hospital certificate.
Outbound M&A transactions reach $454b since 2008
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