Source: CCTV.com

05-13-2008 13:11

Shanghai International Group, the investment arm of the local government says it will buy a controlling stake in a local insurer, as part of its strategy to expand into a financial conglomerate. The group will pay about 250 million yuan for a stake in Shanghai-based Dazhong Insurance.

Shanghai International already has a controlling stake in two other local insurers. And these are AAIC and Dazhong.

 

Editor:Xiong Qu