Municipalities give hand to insurers for construction projects

Since credit restrictions were relaxed by the central government, municipalities and other local authorities are trying to enter into agreements with insurance groups to finance large construction projects.

The insurance commission recently authorized insurers to support projects related to urban development.
In recent months, China Life and PICC have respectively engaged with the municipalities of Suzhou and Guangdong in large construction programs. New China Life Insurance and Sunshine also concluded similar agreements.