China Life hunts for more overseas investmentsNovember 30 2017 by InsuranceAsia News Staff
China Life is searching for more direct investments abroad following its purchases of stakes in firms such as Uber.
The earlier purchases appeared to have sparked China Life’s appetite, reinforced by the fact that capital controls imposed by Beijing are making its rival buyers think twice before embarking on a purchase.
According to Wan Yiqing, deputy chief executive of the insurer’s alternative investment arm, China Life is centring its efforts on infrastructure, especially in the US and Europe, as well as on technologies and products with the growth potential in China to justify high valuations.
Wan said offshore income drives the company to seize opportunities despite government curbs on money outflows.
He revealed that transactions signed by the firm this year will probably surpass Rmb15 billion (US$2.27 billion), and that investments next year would be more.
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