The number of private equity securities funds managed by venture capital firms has increased to 7.

China People's Insurance Asset Management Co., Ltd. recently received approval from the China Banking and Insurance Regulatory Commission to establish the Manulife Qiyuan Huizhong Private Fund Management Company. With this approval, both of the first two batches of insurance institutions that have applied to set up private fund companies have been approved, bringing the total number of private fund companies owned by insurance companies to 7.