China Life's Revenue Surges 81.5% as Insurer Pivots to AI, Chips, and Biotech Investments

China Life, the world's largest life insurer by market value, reported a dramatic surge in revenue and net profit for the first half of the year, driven by increased investments in artificial intelligence, semiconductors, and biotechnology. The company, listed on both the Shanghai and Hong Kong stock exchanges, announced on Thursday that its revenue reached 434.3 billion yuan (US$64.6 billion), an 81.5% increase year-on-year. Net profit soared by more than 228% to 134.5 billion yuan. The company attributed this growth to robust investment returns, refined asset allocation, business development with risk control, and progress in product and business diversification. At a press briefing in Beijing on Friday, Vice-President Liu Hui emphasized that investments in areas related to 'new quality productive forces' are a key growth driver with potential for differentiated returns and broad future investment opportunities. The company has pledged long-term support for technological innovation, aligning with China's broader policy push to develop high-tech industries. This strategic shift reflects a growing trend among major financial institutions to allocate capital towards cutting-edge sectors, potentially reshaping the landscape of tech financing in China.