China Life Insurance Company, for instance, could no longer maintain M100 interest.
FORBES: Magazine Article
The company now called China Life was born in 1949, the year of the Communist revolution, as the People's Insurance Company of China.
CENTERFORSECURITYPOLICY: Center For Security Policy
By law, foreign companies cannot own more than 50 percent of a life insurance company in China.
FORBES: Life Insurance In China
PICC, founded in 1949, was the first country-wide insurance company in China.
BBC: Chinese insurer PICC rises 8% on Hong Kong debut
Shares in the People's Insurance Company of China (PICC) were 8% higher on the firm's debut in Hong Kong despite the tough market conditions.
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