Chang Jiang Shang Bao·2025-05-19 23:22Core Viewpoint - China Life Insurance has been approved to participate in the third batch of long-term investment reform trials for insurance funds, which aims to enhance the role of the "Honghu Fund" in stabilizing the market and economy [1][3]. Group 1: Investment Initiatives - China Life's subsidiary, Guoshou Asset, has been approved to participate in the third batch of long-term investment trials, joining previous trials to support the Honghu Fund [1][3]. - The Honghu Fund has successfully launched its first phase with 50 billion RMB and is planning to invest an additional 20 billion RMB in its second phase [1][4]. - The third phase of the Honghu Fund will adhere to market-oriented and legal principles, aiming to inject more long-term capital into the market [3]. Group 2: Financial Performance - In Q1 2025, China Life reported a net profit of 28.802 billion RMB, a 39.5% increase year-on-year, driven by significant growth in investment income [2][6]. - The company's total premium income for Q1 2025 was 354.409 billion RMB, reflecting a 5.0% year-on-year growth [2][7]. - Investment income surged to 25.179 billion RMB in Q1 2025, a 3.6-fold increase compared to the same period in 2024 [6][7]. Group 3: Long-term Investment Strategy - China Life's chairman emphasized the company's commitment to long-term capital investment, with over 4.62 trillion RMB allocated to support the real economy [5]. - The company aims to explore long-term investment models and innovate in establishing private equity funds to bolster financial stability [5][6]. - The total assets of China Life reached 6.97 trillion RMB, with investment assets at 6.82 trillion RMB, both showing a 3.1% increase from the end of 2024 [8].