Chao: China Life has already withdrawn from AIA's bid

August 26, Chinese longevity (601628.　　SH, 2628.HK) held interim results conference in Beijing and Hong Kong.　　Chao, chairman of the meeting, first clarified that China Life had already withdrawn its bid for assets before AIG's AIA IPO. "In the second half of 2008 and early 2009, I did have contacts with AIG executives about the purchase of AIA assets by Chinese life, but in March 2009 I officially announced a withdrawal from our group, so far I haven't had any contact with AIG executives," Chao said. "As for the IPO, whether China Life is involved, because the prospectus has not yet come out, the pricing mechanism we are not clear, to be based on the terms of the issue of careful study before the decision."　　"Yang Suping said.　　At present, China Life's investment assets have reached 1.2429 trillion yuan, the first half of the year to achieve the annual investment yield of 2.51%, although higher than the industry average of 0.58%, but still more than 3.26% in the middle of 2009 significantly decline.　　Liu Jiade, vice president of China Life, said the sharp changes in capital markets in the first half of the year, especially the sustained decline in the previous period, led to a decline in the value of the assets measured by the fair value of Chinese longevity. "The first half of the domestic bond market yield overall downward, the agreement deposit interest rate is higher, we have actively configured high yield credit debt and floating interest agreement deposit; For the volatility of the stock market, the timely locking of earnings and lower position costs, while the second half of the bond market yield low, the allocation of pressure is still　　Liu Jia de continued.　　Industry analysis, the previous phase of commercial banks out of the demand for funds, the demand for agreed deposits rose faster, this demand has been a certain release, so the second half of the agreement deposit demand will not be as strong as before, in time deposits, floating rate agreement deposit will appear some changes. And the second half of the capital market may still continue to maintain the pattern of volatility, insurance funds, equity investment is still not optimistic.　　Liu Jiade said that the second half of the large-scale aircraft carrier-type financing activities will not be, the policy should not have too much impact on the market situation, the continued decline of the level of valuations, investment value increased, so the second half of the market there are many opportunities. "The key lies in the market analysis and evaluation, seize the opportunity, we will be in the investment rhythm to grasp the opportunity, especially in the band of sexual operation to increase the intensity."　　Liu Jia de said.　　The decline in asset value, along with the occupation of capital by business development, and the dividend payout of 20 billion per cent for shareholders in the first half of the year, has reduced the solvency ratio of Chinese longevity from 303.6% to 217.2%.　　Meanwhile, the new business value of China Life in the first half of the year increased by 10.9%, with the new business value of Ping an per share a significant increase of 43.9%. Shaohui, China Life's chief actuary, believes this is the result of changes in Chinese longevity's own business rhythms. "We increased our business restructuring in the fourth quarter of 2008, focusing onInto the 10-year business, concentrated in the first half of 2009, the larger cost-effective products, so the first half of last year's new business value base is very high. But since the second half of 2009 we have been more focused on the growth of the scale, so the new business value year-on-year growth is slower. "In the second half we will return to the growth of efficiency, the value of new business growth should be greatly improved." "Shaohui said.