CHINA LIFE INVESTS IN AGRICULTURAL BANK OF CHINA

Following its recent purchase of a 4.65bn yuan stake in CITIC Securities, China Life, the country’s biggest life underwriter by assets, expects to continue its acquisition activity by investing in Agricultural Bank of China (ABC), one of China’s ‘big four’ commercial banks. Comments made by China Life chairman Yang Chao at a recent joint event for China Life and ABC, hinted that China Life expects to make an equity investment following its split share structure reform period and push forward its capital co-operation with ABC. He said that China Life would be willing “to conduct capital co-operation with the Agricultural Bank of China and establish deep ties in terms of shareholder reforms and a market listing”.