【10.03.09 印度时报】China Life spring surprise claiming 200% net profit

青蛙小王子

http://timesofindia.indiatimes.com/world/china/China-Life-spring-surprise-claiming-200-net-profit/articleshow/5661531.cms

BEIJING: China Life Insurance, the world's biggest insurer by market value, has sprung a surprise saying it made a net profit of 200% in the financial crisis year of 2009. This is a dramatic increase over its earlier forecast of 50% profit.

The New York listed China Life did not release the exact figure of its net profit in 2009. It earned 10.07 billion yuan ($1.47 billion) in 2008. The revision is bound to result in higher dividends for the government, which owns the bulk of stock, as well as foreign investors.

The company told the Shanghai Stock Exchange, where it is also listed, that the revision is based on a new set of accounting rules set by the ministry of finance. The figure of net profit of 2008 has not been amended to suit the new rules, it said.

The rules were changed last year to bring them in line with international standards. China Life had earlier said it estimated a 50% net profit owing to strong gains on its investments thanks to the bullish capital market last year.

It is China’s largest insurer with over 42% share of the life insurance market. The company recently announced plans to acquire a bank in order to take advantage of the recent change in rules that allow insurers to step into banking business.

"We already have a minority stake in a bank, and our next step is to acquire control of another bank," Yang Yang Chao, China Life chairman said recently. The insurer is apparently trying to use its vast insurance distribution network to cross-sell banking products.

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【10.03.09 印度时报】China Life spring surprise claiming 200% net profit
中国人寿业绩丰收声称净利润达百分之二百

BEIJING: China Life Insurance, the world's biggest insurer by market value, has sprung a surprise saying it made a net profit of 200% in the financial crisis year of 2009. This is a dramatic increase over its earlier forecast of 50% profit.
北京消息：中国人寿保险公司，世界市值最大的保险公司，声称在09年金融海啸当中仍惊喜地获得了200%的净利润。这个数据大大超出了原先预期的50%收益。

The New York listed China Life did not release the exact figure of its net profit in 2009. It earned 10.07 billion yuan ($1.47 billion) in 2008. The revision is bound to result in higher dividends for the government, which owns the bulk of stock, as well as foreign investors. 在纽约挂牌的中国人寿未出示其09年确切的净利润数字。它在2008年收入为100.7亿元，约合14.7亿美元。这样的利好数据势必会导致政府所持有的那一大部分股息增值，当然海外投资者也能分享到收益。

The company told the Shanghai Stock Exchange, where it is also listed, that the revision is based on a new set of accounting rules set by the ministry of finance. The figure of net profit of 2008 has not been amended to suit the new rules, it said.
同样也在上证所挂牌的中国人寿告诉上海证券交易所，这一收益的利好源自于财政部新设定的会计规则。而08年的这一数据没有参照新规则而做修改。

The rules were changed last year to bring them in line with international standards. China Life had earlier said it estimated a 50% net profit owing to strong gains on its investments thanks to the bullish capital market last year.
新规则是为了与国际接轨而于去年修改的。中国人寿早先预期的50%净利润极大部分是基于去年它们在牛市资本市场的投资。

It is China’s largest insurer with over 42% share of the life insurance market. The company recently announced plans to acquire a bank in order to take advantage of the recent change in rules that allow insurers to step into banking business.
中国人寿是中国最大的保险公司，它占有着42%以上的人寿市场份额。公司近期宣布准备建立一个银行，为的是更好利用当前规则的改革，以使保险公司能进军银行业。

"We already have a minority stake in a bank, and our next step is to acquire control of another bank," Yang Yang Chao, China Life chairman said recently. The insurer is apparently trying to use its vast insurance distribution network to cross-sell banking products.
中国人寿主席，杨巢近日表示，“我们已经拥有少量银行股权了，我们的下一步就是要收购一家银行”。这家保险公司看来要利用其巨大的保险网络来跨区销售银行业产品。