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Canada's Sun Life Financial considers raising stake in Chinese joint venture

Canada-based Sun Life Financial Inc. is considering raising its stake in Chinese joint venture Sun Life Everbright Life Insurance Co. Ltd., the South China Morning Post reported July 2, citing CEO Dean Connor.

Sun Life Financial is looking to boost its shareholding to between 49% and 51% from the current 25%, as China relaxes rules for foreign ownership of domestic securities brokerage and asset management joint ventures.

The increased shareholding will depend on the willingness of Sun Life's local partners to sell, Connor said.