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HSBC buys 10% stake in Chinese insurer for $600m.

Europe Intelligence Wire

| August 10, 2002 | COPYRIGHT 2002 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From FT Investor (Pulses))

HSBC , the London-listed global banking group, said on Tuesday it would pay $600m for a 10 per cent stake in the second largest Chinese life insurer as part of efforts to establish itself in China. HSBC said it would provide technical assistance and services to Ping An Insurance, which had 28.7 per cent of China's life insurance market at the end of 2001 and is ...

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