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China's PICC Life to raise 12B yuan in bonds

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China's PICC Life to raise 12B yuan in bonds

PICC Life Insurance Co. Ltd. said it plans to issue 10-year bonds to raise up to 12 billion yuan.

PICC Life is a unit of People's Insurance Co. (Group) of China Ltd.

As of May 10, US$1 was equivalent to 6.35 Chinese yuan.