Washington-based private equity firm Carlyle Group plans to sell more of its shares in China Pacific Insurance Group (2601.HKG, 601601.SH), Bloomberg reported, citing a leaked term sheet. The private equity firm is offering 203 million China Pacific shares at HK$30-30.3 per share, seeking to raise up to HK$6.09 billion (US$788 million). China Pacific’s shares closed at HK$31 on July 7 after having gained approximately 20% in the past month with upbeat Chinese stocks. China’s benchmark CSI 300 Index has climbed 20% since early December, driven by signs of an economic recovery in the country. Carlyle agreed to join New Jersey-based Newark in buying 25% of China Pacific Life Insurance for RMB 3.3 billion (then US$409 million) in 2005. Carlyle sold part of its shares in 2010 and again in July 2012.