综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

   

Ping An gets offshore nod

By Hu Yuanyuan (China Daily)
Updated: 2007-12-05 09:26

Ping An Insurance (Group) Co, China's second-biggest life insurer, said yesterday it has been approved to invest up to 15 percent of its total assets abroad, the highest proportion allowed by the government.

Related readings:

 Ping An pays 1.8b euros for Fortis stake
 Ping An premiums reach 83b yuan by Oct
 Ping An Insurance profit up 140% in 1st half
 Ping An consolidates banking operations

The company will be able to buy Hong Kong stocks or invest in major equity deals, it said in a statement to the Shanghai Stock Exchange. The insurer had total assets of 441.8 billion yuan at the end of 2006, which means 66.25 billion yuan is available for overseas investment.

The approval follows Ping An's purchase of a 4.2 percent stake in Fortis, Belgium's biggest financial services company, for 1.81 billion euros last week. The Fortis stake is the company's first overseas acquisition.

"That shows Ping An's aggressive attitude and its capacity to grasp good investment opportunities overseas," said Wang Xiaogang, an analyst with Orient Securities.

The regulator last month allowed Ping An to begin buying Hong Kong stocks with up to 5 percent of its assets as at the end of the previous fiscal year.

"Despite the recent huge swings in the global stock market, overseas investment is still necessary to diversify risks, especially in the long run," Wang said.

China's benchmark CSI 300 Index more than doubled this year.

He said Ping An's purchase of a stake in Fortis is a good deal in terms of business structure and price.

Fortis is strong in banking, insurance and asset management - the sectors that Ping An wants to boost.

Sources said Ping An is also working closely with China Construction Bank to set up an asset management company.

Ping An's A shares closed at 116.83 yuan yesterday, up 2.92 percent on Monday's price. Its Hong Kong-traded stock gained 1.034 percent to HK$87.95.

Liu Lefei, chief investment officer with China Life, the country's largest life insurer, was not available for comment on its overseas investment strategy. But a source told China Daily the company has several big acquisition deals in the pipeline for the next six to 12 months.

"China Life is more focused on investment opportunities at home, especially those involving State-owned enterprises that are in the process of restructuring," the source said.


(For more biz stories, please visit Industry Updates)



康乐县| 福建省| 八宿县| 北票市| 安多县| 科技| 普陀区| 延吉市| 鱼台县| 长治县| 布尔津县| 大港区| 札达县| 临颍县| 宿松县| 宁城县| 兰坪| 宁明县| 望都县| 揭东县| 栾城县| 栾川县| 禹州市| 织金县| 平果县| 乌拉特前旗| 新河县| 丹棱县| 海门市| 望江县| 蒙阴县| 安陆市| 蒙自县| 南岸区| 犍为县| 石门县| 甘南县| 财经| 宁乡县| 阿拉尔市| 华安县|