THE People's Insurance Company (Group) of China will invest 1.5 billion yuan (US$193 million) in Datang Mobile (stock code: 600198), the country's major homegrown 3G developer, Beijing News reported yesterday, citing PICC officials.

Datang Mobile said that it has finished 85 percent of its wireless equipment shipments for 3G networks in Shanghai and Guangzhou, the company said yesterday.