China FinMin Transfers 6.8% Stake in PICC to NSSF

Posted on 03/13/2019


China’s Ministry of Finance is the largest shareholder in the People’s Insurance Company of China (PICC). PICC has US$ 147 billion in assets. The finance ministry transferred a 6.8% stake in PICC, or 2.989 billion Class A shares of the insurance company, to the National Council for Social Security Fund (NSSF). Post-deal, NSSF controls 16.5% […]