China Information

Saturday, January 13, 2007

China Life Insurance Assets Management (Hong Kong) Co. Ltd. introduces overseas strategic investors

China Insurance Regulatory Commission recently gave approval to China Life Insurance Assets Management (Hong Kong) Co.Ltd. under China Life Insurance Asset Management Co.Ltd. for its introduction of Franklin Templeton Investment Group and China Life Insurance (Overseas) Co.Ltd. as its overseas strategic investors.The joint venture will be named China Life Insurance Franklin Templeton Assets Management Co.Ltd. and is completing the formalities of changing name in relevant authorities in Hong Kong. The company's registered capital is 60 million Hong Kong dollars, with China Life Insurance holding 50% of the interests, Franklin Templeton and China Life Insurance (Overseas) 26% and 24% respectively.Assets managed by China Life Insurance are over 750 billion yuan, making China Life Insurance the biggest institutional investor in the domestic capital market. Franklin Templeton Investment Group is a publicly listed investment management company with the highest market value in the world, providing all-round financial service to almost 10 million investors in over 100 countries globally. It is especially experienced in the investment management in emerging markets. By the end of 2006, assets managed by it have exceeded 540 billion US dollars.

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