More and more insurance companies in China are likely to pile into local property shares in the future as the real estate sector's business stability and expected returns satisfy insurers' appetite, said industry insiders.
The comments came after China Vanke Co. Ltd. (000002.SZ) announced on Sunday that Shenzhen Jushenghua Co., Ltd. bought a 4.969 percent stake in Vanke last Friday, making Jushenghua and its concert party Foresea Life Insurance Co., Ltd. now jointly hold 20.008 percent shares of Vanke. Jushenghua, a Chinese company with property and insurance business, currently owns a 20 percent stake in Foresea.
Latest comments