PICC eyes local govt bonds and A-shares

Aug 27, 2018

The parent company of the biggest non-life insurer in China said in its earnings announcement that it favours local government bonds and onshore equities.

People's Insurance Company (Group) of China (PICC Group) is likely to take advantage of a spurt in bond issuance from local governments to lengthen its portfolio’s asset duration, benefit from tax incentives and support the country’s infrastructure drive.

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