Alibaba to ac­quire stake in New China Life

China Daily (Canada) - - FRONT PAGE -

Alibaba GroupHold­ing Ltd, the world’s big­gest e-com­merce company, is plan­ning to buy shares in the State-runNewChina Life In­surance Co Ltd, Shang­hai Se­cu­ri­ties News said onWed­nes­day, cit­ing un­named sources. The news­pa­per re­ported that Cen­tral Hui­jin In­vest­ment Ltd, the in­vest­ment arm of the Chi­nese gov­ern­ment and the largest share­holder in the in­surer, plans to sell some of its stake to Alibaba. It did not give any de­tails on the size of the deal. Cen­tralHui­jin cur­rently owns

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