China Life has a full financial license. China Life Asset Management Co., Ltd. and China Life Investment Holdings Co., Ltd. also hold several financial licenses. For example, China Life Insurance Fund Management Co., Ltd. is a professional financial institution jointly established by China Life Asset Management Co., Ltd. and Safety Capital Investment Co., Ltd. (Australia) with the approval of China Securities Regulatory Commission. It is the first fund management company established by the insurance industry in China, which was unveiled on 20 1 1.

1. China Life announced that it intends to acquire Citigroup and IBM Credit and sell 23.686% of the shares of Guangdong Development Bank. If the transaction is completed, the shareholding ratio of China Life will rise to 43.686%, and it will also be upgraded from one of the four largest shareholders before the transaction to one of the largest shareholders. The transaction cost 22.3 billion yuan, and China Life has a stronger banking license. Because the transaction fails to achieve absolute control, it will not be merged. According to the analysis of researchers in the insurance asset management industry, if the investment reaches the absolute holding capacity, that is, holding more than 50% of the shares, it can naturally be consolidated, but this is not the only condition, mainly the voting right. If we want to achieve integration, we do not rule out the possibility that Guo Shou will increase his holdings in one step. This time, Guangdong Development Bank took the lead, and China Life's comprehensive financial license path gradually emerged.

Since February 20th13rd, China Life has been making breakthroughs in the fields of futures, funds, trust, securities, e-commerce, banking and payment. The relevant person in charge of China Life Group said last Friday that the group's idea of comprehensive financing has not changed. The acquisition of insurance license is not only the company's strategy, but also conforms to the trend of financial mixed operation. China Life's financial holding platform, China Life, made its debut on February 29th, announcing the signing of an equity transfer agreement with Citigroup. After the completion of the equity transfer transaction, China Life held 6.729 billion shares of Guangfa Bank, and its shareholding ratio increased to 43.686%, making it the largest shareholder of Guangfa Bank. China Life expects that this transaction will bring more stable financial returns and predictable value-added space for the company.

3. Yang Mingsheng, Chairman of China Life, also said at the signing ceremony that this transaction not only meets the needs of global asset allocation of Citigroup, but also conforms to the strategic direction of China Life to build a world-class financial and insurance group. An insurance company official in Beijing, who asked not to be named, said that from the investment point of view, obtaining a banking license meets the investment needs of insurance funds, and at the same time, the whole bank maintains profitability, which is conducive to insurance indicators such as solvency adequacy ratio. In the long run, the listing of Guangfa Bank remains to be expected. On the other hand, from the perspective of full license, it is a step closer to the goal of China Life Insurance Comprehensive Financial Group.