Development of China Life Asset Management Co., Ltd.

China Life Asset Management Co., Ltd., the organization of China Life Asset Management Co., Ltd., was established with the consent of the State Council and the approval of China Insurance Regulatory Commission. It was jointly funded by China Life Insurance (Group) Company and China Life Insurance Co., Ltd. China Life Asset Management Company was incorporated on1October 23, 2003 +065438+ and officially unveiled on June 28, 2004, with a registered capital of 65,438 billion. Its establishment has completely opened a new course of centralized and specialized management of insurance assets in China, marking an important step for China Life in the process of building three industrial clusters of insurance, financial services and insurance-related industries.

The business of China Life Asset Management Co., Ltd. covers fixed income investment, equity investment, project investment and international business. It is the largest institutional investor in the domestic capital market and an important participant in the money market. By the end of 2005, the total assets entrusted by the company exceeded 600 billion yuan, accounting for more than 40% of the total funds available in the insurance industry. It is the largest professional investment institution in the domestic capital market. In August, 2005, the company obtained the qualification of the first batch of enterprise annuity fund investment managers issued by the Ministry of Labor and Social Security, and the third-party asset management business has started. On June+10, 5438, the establishment of the Hong Kong subsidiary was approved by the China Insurance Regulatory Commission, and the overseas investment business was carried out steadily, which indicated that the company could allocate assets in a broader international market and share the fruits of global economic development.