Huaxia Insurance Injects $160M In China Aoyuan Property Subsidiary

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Hong Kong-listed Chinese property developer China Aoyuan Property Group Limited says that Huaxia Life Insurance Co., Ltd. has injected RMB1 billion (US$160 million) in one of its its subsidiaries for a significant minority stake, according to a company announcement.

The wholly owned subsidiary, Guangzhou Aoyu Real Estate Development Company Limited, will be 54% and 46% owned by parent Guangzhou-based Aoyuan and Huaxia upon completion of the investment.

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