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Liu Hong, Party secretary and president of the People’s Insurance Company of China (PICC), is being investigated for suspected v
iolations of Party disciplinary rules and laws, according to an announcement of the top anti-graft agency on Friday.
He is being investigated by the discipline inspection and supervision team of the China Cent
ral Commission for Discipline Inspection and the National Supervisory Commission, according to the announcement.
Liu, 56, was appointed Party secretary, director and president of the PICC since October
A total of 1,883 private equity and venture capital deals were compl
eted in China’s telecommunications, media and technology industry in the second half of last
year, accounting for 46 percent of total PE/VC investment, a record number since 2016, according to a PwC report.
The report showed that 1,290 PE/VC deals were clinched in the third quarter of 2018, while in th
e fourth quarter, the number of PE/VC deals in TMT sectors dipped to below 600, as overall PE/VC investments plunged.
In the second half of 2018, there were 54 large-size deals with a single deal value over $100 million, and these large-size deals
had a total value of $21.3 billion, making up 76 percent of the total in TMT sectors in the second half.