People's Insuance Company of China (PICC), the nation's largest insurance conglomerate, has transformed from a solely state-owned company to a state-controlled shareholding insurer, the company said Thursday.

The new company is set up with a registration capital of 30.6 billion yuan (4.5 billion U.S. dollars).

Related

• PICC to become limited company in July end
• PICC P&C sells stake to parent
• PICC Group to complete shareholding reform this year

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