State-owned insurer New China Life to build $1.4b fund for property investments

State-owned insurer New China Life to build $1.4b fund for property investments

Photo by Towfiqu barbhuiya on Unsplash

New China Life Insurance is partnering with CICC Capital in the formation of a 10-billion-yuan ($1.4 billion) fund for investments in companies with real estate assets, as the state-owned life insurer joins an array of domestic peers bottom-fishing in the country’s property market.

Edited by: Joymitra Rai