China's insurance regulator will allow four national insurance companies to invest up to RMB16 bn in the Beijing-Shanghai express railway link, state media reports.
The China Insurance Regulatory Commission (CIRC) said that Ping'an
Insurance, Pacific Insurance, Taikang Life and Taiping Life will create
an equity investment project to raise RMB16 bn for the express rail
link.
China Reinsurance Group, Generali China Life and PICC are also involved in the project, while China Construction Bank and China Development Bank are acting as trustee and supervisory body.
The 1,318 km Beijing-Shanghai rail link was officially announced in December 2007.
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