PICC rolls out $158m industrial fund
The People's Insurance Company of China is reportedly setting up an industrial fund - the name of which suggests it will focus on the defense sector - worth RMB1 billion ($158 million) under its affiliate PICC Capital Investment Management.
The fund has secured commitments from PICC Capital Investment Management, China North Industries Group Corporation and Changjiang Securities, according to 21st Century Business Herald reported. It has...
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