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By Ding Qi (chinadaily.com.cn)
Updated: 2007-08-09 16:34

Sino Life Insurance Corp (Sino Life) was approved by the China Insurance Regulatory Commission (CIRC) to launch overseas investment business.

As the first medium and small sized insurer to get the approval, Sino Life plans to invest its own foreign reserves into Hong Kong listed H-shares and red chips through a professional asset management company.

Sources said Sino Life has appointed People's Insurance Asset Management Company as the asset manager and Citibank China as the fund trustee.