China's PICC Capital sets up new fund to transform traditional industries

China's PICC Capital sets up new fund to transform traditional industries

Photo: Reuters

PICC Capital Insurance Asset Management, the wholly-owned subsidiary of state-owned Chinese insurer The People’s Insurance Company (Group) of China (PICC), is planning to set up a 10 billion yuan ($1.4 billion) private equity investment fund to transform traditional industries. 

Edited by: Padma Priya