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China sets up insurance fund to boost infrastructure

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The China Insurance Regulatory Commission has said that a fund that mobilizes funds from insurers has been set up to boost infrastructure, reports Ecns.cn citing Xinhua.

China Insurance Group Investment Co. Ltd. will manage the fund, which has an initial pool of 40 billion Chinese yuan ($6 billion), said the commission.

The fund is eventually expected to total CNY 300 billion.

The fund has been designed to facilitate strategic projects.

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