BEIJING, June 3 (Xinhua) -- China Pacific Insurance (Group) Co., Ltd., one of China's insurance giants, is now moving closer to issuing global depository receipts (GDRs) on the London Stock Exchange, the Xinhua-new Shanghai Securities News reported on Tuesday.
The insurer has recently received approval from the China Securities Regulatory Commission (CSRC) to issue GDRs on the London Stock Exchange.
The move not only helps to further enrich the insurer's shareholder structure and improve the corporate governance mechanism, but also enhances the company's influence in the global capital market.
After completion of the offering, China Pacific Insurance will become the first Chinese insurers to be listed on Shanghai, Hong Kong and London bourses.
(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@Xinhua.org)