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PICC raises capital

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PICC raises capital

People's Insurance Co. (Group) of China Ltd. raised its registered capital to 44.22 billion yuan from 42.42 billion yuan previously.

This follows its issuance of 1.8 billion A-shares in its mainland China listing in November 2018, according to a Sept. 4 release.

As of Sept. 4, US$1 was equivalent to 7.14 Chinese yuan.