In the financial sector, Bank of China rose 1.9% and New China Life Insurance rallied 3.3%.
In June 2003, China Life formally split into the parent, called China Life Insurance (Group) Co.
Last week, the gurus decided the bubble had burst, at least when it comes to China Life Insurance.
Lower tax rates will also help companies like China Life Insurance in 2007 and 2008, according to Xia.
China Pacific Insurance fell 3.4% and China Life Insurance closed 1.5% lower.
Last week, it was announced that New China Life Insurance Co.
China Life Insurance Company, for instance, could no longer maintain M100 interest.
Gemdale rose 1.7% and Poly Real Estate Group added 2%, while Bank of China improved by 1.7% and China Life Insurance advanced 1.6%.
Xia is bullish on Tsingtao Brewery and China Life Insurance.
Today AIG remains the only global insurer that solely owns its China life insurance subsidiary, while other players must accede to partial ownership by the Chinese government or Chinese partners.
We left off some dominant state oil, utilities and tobacco companies that we thought were too secure in their home markets to be kept on their toes, or that, like Singapore Telecom and China Life Insurance, just missed scoring high enough.
China Life controlled half of the country's life-insurance market, which has been growing at more than 35% a year.
By law, foreign companies cannot own more than 50 percent of a life insurance company in China.
In 1999 People's Insurance was split into four independent units, one of which focused on life insurance and was named China Life.
For this and other reasons, foreign joint ventures, despite their number, accounted for only six percent of annual life insurance premiums paid in China in 2010.
The insurance industry was reintroduced into China in 1979, first with property insurance that year, followed by life insurance in 1982.
Although China's insurance regulator later allowed companies to cut their guaranteed rates, many unprofitable policies festered on China Life's books.
The life insurance industry is an interesting one in China because it is, in essence, another piece of the puzzle that may ultimately explain how China will make the transition from an economy led by exports and government investment, to one that that is led by consumption and investment by the private sector.
Xia believes China Life would be the prime beneficiary of expected growth in the Chinese insurance market.
China's coastal urban middle classes have been bingeing on everything from life insurance to cars and computers.
As developing economies like China and India create more regional centers of financial power, a strong EU is "life insurance" for Germany's future, especially as the eurozone represents only about 9% of the world population, Westerwelle continued.
The company now called China Life was born in 1949, the year of the Communist revolution, as the People's Insurance Company of China.
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