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China Life sees opportunity in falling market

(Agencies)
Updated: 2008-08-27 15:49

China Life Insurance said on Tuesday it expects China's domestic-A share market to decline further in the second half, adding it would seek investments in domestic infrastructure projects including energy, power and transportation.

The country's top life insurer also said it would watch for potential investments in the domestic financial services industry.

"The recent downturn in the international and Chinese market is creating many investment opportunities now. China Life will cautiously make investments," Liu Lefei, chief investment officer, told reporters in Hong Kong.

The company also said it expects renewable premiums -- or those from existing policyholders -- next year to reach 100 billion yuan ($14.60 billion), from an expected 80 billion yuan this year.