CPIC Boosts Bond Investment in Infrastructure Projects
Thursday, Sep 23,2010, 7:15:20 PM Click:
The assets management unit of China Pacific Insurance (Group) Co. (CPIC, 601601.SH) has just been approved to initiate a bond investment plan for the bridge project in Wuhan.
As reports said, the fundraising of the bond investment program will be CNY 2 billion in total. Based in Shanghai, the financial center of China's Mainland, CPIC vows to boost the infrastructure-related bond investment programs.
During the first half of this year, the CNY-1.3-billion wind power investment program was launched by China Pacific Assets Management Co., the assets management platform of the parent company. Days ago, the subsidiary's CNY-20-billion South-North water transfer investment program won the approval of China Insurance Regulatory Commission.
Annualized yield of infrastructure investment is around 6%, one percentage point higher than the average investment yield of insurance capital. That is why such investment is attractive to insurance institutions.
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