China Life boosts strategic investments, renews asset management pact

China Life Insurance Company Limited plans to invest 2 billion yuan into an Equity Investment Plan established by its wholly-owned subsidiary, China Life Investment Management Company Limited (CLI). The plan, which is also receiving 10 million yuan from China Life Industries, a wholly-owned subsidiary of CLI, will focus on strategic sectors including semiconductors, digital energy, and smart electric vehicles. The investment aims to enhance the allocation of insurance funds into emerging industries, yielding long-term returns for the company.

Separately, China Life Insurance is renewing its Framework Agreement with China Life AMP Asset Management Co., Ltd. (AMP) for a term from January 1, 2026, to December 31, 2028. This agreement covers daily transactions such as the subscription and redemption of various fund products, with annual caps set at 20 billion yuan for both subscription and redemption for each of the three years. The agreement also includes private asset management services, with an annual cap for management fees of 500 million yuan for each year.

Both transactions are classified as connected transactions under Chapter 14A of the Listing Rules. The Equity Investment Plan is subject to reporting and announcement but exempt from independent shareholders’ approval. Similarly, the Framework Agreement for fund products falls within the same exemption category, while private asset management under the framework is exempt from reporting.