PICC to bring in strategic investors

People's Insurance Company (Group) of China (PICC) still has no timetable for its overall listing. Despite that fact, the company will soon settle with its strategic investors, China Business News reported Monday.

PICC Chairman and President Wu Yan said the group will release a list of its strategic investors in one or two months. The financing scale will reach approximately 10 billion yuan ($1.54 billion), he added.

Wu said all the investors will be Chinese entities, according to the report.

CBN reported that a source familiar with the matter said China's social security fund is likely to appear on the list of investors.