Parent of China Insurance International to invest

China Insurance International(0966) CEO Miao Jianmin said after shareholder meeting that two subsidiaries of its parent, Tai Ping Life Insurance and Tai Ping Insurance Company Limited, plan to lay out RMB500mln each to set up headquarters in Shanghai and Shenzhen. Three branches will be set up soon after.

He added if negotiation goes on smoothly, the two subsidiaries will resume businesses in mainland and introduction of shareholders will be carried out simultaneously.

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