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China sees private investment

Of course, it would never work here. Financial Times.com has the complete outlook.

A group of insurance companies led by Ping An Insurance, China’s second-largest life assurer, will invest more than $2bn in a high-speed railway line connecting Shanghai and Beijing, the company said on Friday.

The consortium of insurers, including Italy’s Generali and five other large Chinese firms, will take a stake of nearly 14 per cent in the company established to build the high-speed line.

Construction begins next month and is expected to cost Rmb220bn ($30bn) by the time the line is completed in 2013.

The consortium will be the second largest shareholder after the Ministry of Railways, which will hold 78.9 per cent.

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