The People's Insurance Company (Group) of China is currently preparing to be listed on the A share market this year, the China Securities Journal reported.

If successful, PICC will be the fifth insurance provider to be listed on the mainland market, the report said. The insurer will also raise 10 billion yuan (US$1.40 billion) through issuing 10-year bonds, a plan approved by the China Insurance Regulatory Commission on February 14, the newspaper said.