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  • Dec 21, 2014
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China Life Insurance

Beijing-based China Life Insurance Co provides life insurance and annuity products. It listed in December 2003, raising US$3.5 billion.

BusinessChina Business

Business Digest, October 18, 2012

PUBLISHED : Thursday, 18 October, 2012, 12:00am
UPDATED : Thursday, 18 October, 2012, 4:47am

China Life warns of 55pc plunge in profit

China Life, the world's largest insurer by market value, warned of a 55 per cent fall in profits in the first nine months - pointing to its first quarterly loss since 2008. The warning from the state-controlled company surprised analysts and could bode ill for other financial firms, suffering from falling stock and bond markets that have hurt investment income. Slowing growth has also made it harder for insurers to raise premiums. Reuters

 

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Opportunity remains in China, BHP says

BHP Billiton, the world's largest mining company, expects China's growth to decline to about 7 per cent to 8 per cent this year and stay at this level for the next decade as it becomes a consumer-led economy. But a "significant opportunity" remains, Marius Kloppers, BHP's chief executive, said. A destocking cycle in China that has weighed on prices, including for iron ore, has run its course, he said. Bloomberg

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