CHINA – China Life reports 25 percent dip in H1 profits

According to China Daily, net profits for H1 for China Life amounted to CNY 9.64 billion (USD 1.53 billion), which reflects a drop of 25.7 percent y-o-y.

 

The company attributed the decrease in profits to the poor performance of the capital market, which led to lower returns from investments and losses from the devaluation of assets.

 

Total assets for China Life stood at CNY 1.77 trillion for H1, which is a 11.7 percent rise from six months earlier. However, business revenue fell 2.9 percent y-o-y to CNY 225.3 billion by the end of the same six-month period.