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New China Life Insurance Seeks Listing
New China Life Insurance Co will continue carrying out its listing plan and further build up its capital strength.
Guan Guoliang, the company chairman, made the remarks at the inauguration ceremony of the company's Shanghai branch Wednesday in Shanghai.
It is learnt the company's new share offering to foreign investors in the last year made its capital rose from 500 million yuan to 1.2 billion yuan.
The company is now the fourth largest life insurer in China, in terms of market share.
With the inauguration of the Guangzhou branch Thursday and four other branches in Wuhan, Guangzhou, Hangzhou and Harbin in the near future, the insurer will have a total of 10 branches.
The company plans to increase its number of branches to 100 by 2005, Guan added.
Source: Panorama
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