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China Life Insurance Co Ltd announces formation of partnership


Friday, 27 Dec 2013 03:16am EST 

China Life Insurance Co Ltd:Says on Dec. 27, Jiading Venture Capital, as the General Partner, and the company, CLIC, P&C Company, Jiading Development, International Automobile City and China Credit Trust, each as a Limited Partner, entered into the Partnership Agreement in relation to the formation of the Partnership.Says pursuant to the partnership agreement, the total capital contribution by all the partners of the Partnership shall be 5 bln Renminbi , of which 1 bln Renminbi shall be contributed by the company.Says business scope of the Partnership includes the investment in urban infrastructure facilities construction, the investment in urban development industry, and the related investment management and investment consulting service.Says partnership shall have a term of 14 years from the date on which its business license is issued, of which the first 10 years shall be the investment period and the remaining four years shall be the exit period.Says the capital contribution to be borne by the company shall be funded by the company‚Äôs internal resources.