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Finance: IFC to build hydropower stations

(Shenzhen Daily)
Updated: 2006-05-15 11:19

The International Finance Corp. (IFC), the private-sector lending arm of the World Bank, said yesterday that it plans to invest US$22 million in Yunnan Zhongda Yanjin Power Generation Co. to build three hydropower stations in one of China’s southwestern provinces.

Bank of China, the country’s second-largest lender by assets, expects to post a net profit of 33 billion yuan (US$4.12 billion) this year, the China News Agency quoted chairman Xiao Gang as saying Friday.

China Life Insurance Co., the country’s biggest life insurer by revenue, will take part in the first infrastructure investment on the mainland by domestic insurance companies, the Financial News reported yesterday, citing a senior company official.