Shanghai exchange nears launch after capital raise

Some 91 Chinese companies have agreed to contribute the 2.24bn yuan
($343mn) of registered capital required to found an insurance
exchange in Shanghai, according to local reports.
The founding members, most of which are insurance companies and
their subsidiaries, met yesterday (18 May) for the first time to
discuss developing the marketplace.
The group also includes around 20 companies from other sectors,
including state-owned bank Shanghai International Group, and the
investment arm of acquisit