Investment Updates News
- China Life Insurance eyes bank stakes
Date: 24-Nov-2006 Sources: (Shenzhen Daily)
China Life Insurance Co., the country's top life underwriter, is in final talks to buy a stake of up to 10 percent stake in mid-sized Huishang Bank Co., its latest attempt to diversify into the country's banking industry.
Industry sources close to the situation said that China Life Insurance was in early talks to take over a tiny city commercial bank in the southern city of Zhuhai. Huishang Bank, established just a year ago in eastern China's Anhui Province, plans to place shares with several investors, the sources said.
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