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China Life plans mutual fund joint venture-chairman

Tue Nov 27, 2007 11:26pm EST

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NANJING, China, Nov 28 (Reuters) - China Life Insurance (601628.SS) (2628.HK), the country's biggest life insurer, has applied to the country's insurance regulator to set up a mutual fund management company, its chairman Yang Chao said on Wednesday.

The company intends to form the proposed fund company in partnership with foreign investors, Yang said during a company tour with reporters in the eastern Chinese city of Nanjing, near Shanghai.

The proposal also requires approval from the China Securities Regulatory Commission, the country's top securities regulator, he added. (Reporting by George Chen; Writing by Charlie Zhu; Editing by Edmund Klamann)



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