Article: ESSENCE SECURITIES SAID TO TEAM PICC


AsiaInfo Services
08-13-2009
Essence Securities Said to Team PICC

SHENZHEN, Aug 13, 2009 (SinoCast Daily Business Beat via COMTEX) -- Chinese broker Essence Securities Co., Ltd. is said to have decided to introduce The People's Insurance Company (Group) of China (PICC) as one of its shareholders.

It is a decision the broker made after over one year of selection and the insurance giant will take about ten percent stake it. Essence Securities was established by China Securities Investor Protection Fund Corp. Ltd. and Shenzhen Investment Holding Co., Ltd. in August 2006 with a registered capital of CNY 1.51 billion. Headquartered in Shenzhen, it is 99.34 percent controlled by China Securities ...

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