BRIEF-Guangzheng Group's unit plans to set up life insurance firm

March 17 (Reuters) - Guangzheng Group Co Ltd

* Says unit plans to invest 370 million yuan ($53.60

million) to set up life insurance joint venture for 18.5 percent

stake

Source text in Chinese: http://bit.ly/2m9jNBe

Further company coverage:

($1 = 6.9030 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)