China Life, the mainland’s largest life insurer, will invest US$1.16 billion investment in infrastructure projects in Tianjin, the South China Morning Post reported. The projects include an expressway in Tianjin’s city center and two highway sections that run through the city. China Life Asset Management, a joint venture between China Life and its parent company, will manage the investment, which has been approved by China’s insurance regulator. In July, mainland insurance companies were given the green light to invest in property and infrastructure projects, although rules governing investments have not yet been released.
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