China Construction Bank, the nation's second-largest commercial lender, may buy a stake in an insurance company, Chairman Guo Shuqing said. Guo spoke to reporters at the National People's Congress's annual meeting in Beijing yesterday.
Construction Bank may buy 51 percent of Xingfu Life Insurance, controlled by China Cinda Asset Management Corp, 21st Century Business Herald reported last month, citing people it didn't identify.
(Shanghai Daily March 11, 2008)
