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China Life says no plan to list whole group

Mon Sep 8, 2008 10:00pm EDT

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DUNHUANG, China, Sept 9 (Reuters) - China Life Insurance Co Ltd (601628.SS)(2628.HK), the country's top life insurer, said on Tuesday it has no plan to seek a group listing because conditions for such a move are still "immature".

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Wu Dingfu, chairman of China Insurance Regulatory Commission, said last week that China Life was aiming to list assets of the whole group. But China Life's chairman Yang Chao downplayed such a plan on Tuesday, saying it was "just a good wish of the regulator".

"Some conditions for the group listing are still immature, and I think we can only understand this (Wu's comments) as a good wish and a long-term strategic direction for us to fulfill," Yang said.

Yang made the comments at its annual corporate day for media and analysts in the western Chinese city of Dunhuang.

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