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02628 CHINA LIFE
RTNominal up9.390 +0.460 (+5.151%)
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27/08/2020 09:26

China Life (02628) to form partnerships

[ET Net News Agency, 27 August 2020] China Life Insurance Company Limited (02628) said
the company, CLP&C and Guangzhou Xinyue (each as a limited partner) intend to enter into a
partnership agreement with Guangzhou Jinhui (as the general partner) by 30 September 2020
for the formation of a partnership.
The total capital contribution by all partners of the partnership shall be RMB2 billion,
of which RMB1.5 billion shall be contributed by the company. The partnership will
primarily invest in financial assets and related assets in the inclusive financing sector.
Also, the company and Haidian SAOMC (each as a limited partner) intend to enter into a
partnership agreement with China Life Properties and Zhongguancun Technology Services
(each as a general partner) by 31 October 2020 for the formation of a partnership.
The total capital contribution by all partners of the partnership shall be RMB5.002
billion, of which RMB4.75 billion shall be contributed by the company. The partnership
will primarily focus on education and scientific research, and commercial and office
properties in Haidian District, Beijing with clear and complete titles and property rights
that meet the requirements of investment for insurance funds. (RC)

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