PICC TO MOVE AHEAD WITH IPO PLANS

The Chinese securities regulator has given its blessing to China’s largest non-life insurance company, the People's Insurance Company of China (PICC), planned initial public offering (IPO). According to newswire Xinhua, the China Securities Regulatory Commission (CSRC) has approved PICC’s application to list its shares on the Shanghai Stock Exchange. The Beijing-headquartered insurer will release an IPO prospectus following discussions with the stock exchange.