Flash | 01 Feb 2026 15:55:03 ET │ 14 pages China Insurance China Reportedly Plans to Recapitalize Three Insurers; PICC Group H- share Could Benefit Most CITI'S TAKE According to Bloomberg (30-Jan-2026), China is considering issuing c.Rmb200bn of special government bonds to recapitalize China Life Group, PICC Group and China Taiping Group. We are not surprised as "capital replenishment for large insurers is on the agenda" was mentioned by the State Council on 7-May-2025. We believe such a move would be posit ...