China Life to focus on bond investments
27 March 2008
China Life Insurance's chief investment officer said the firm will focus more on bond investments and reduce stock holdings this year to be better prepared for possible interest-rate increases to fight inflation, Bloomberg reported. Liu Lefei said at a press briefing in Hong Kong that the firm's outlook "isn't optimistic," though, due to its non-equity investments, "investment income will remain relatively stable." It will also look for opportunities to invest in high-yielding bonds, such as government and corporate paper, Lei added. China Life invested US$300 million in Visa's IPO in New York earlier this month.
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