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China Life Insurance to Enter Partnership for AI, Semiconductor Niche Investments

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China Life Insurance (HKG:2628, SHA:601628), Wuxi China Life Chengda Equity Investment Center (Limited Partnership), and other investors are planning to form a partnership, as limited partners, with China Life Chengda (Shanghai) Healthcare Equity Investment Management as the general partner.

China Life Equity Investment will serve as the manager of the partnership, which will have a six-year term and focus on investments in the artificial intelligence and semiconductor niches, a Thursday bourse filing showed.

The total capital contribution to be made by all partners will be up to 6 billion yuan, of which the company will contribute a maximum of 4.5 billion yuan.

The company will also enter into an ancillary agreement with China Life Chengda (Shanghai) Healthcare Equity Investment Management and China Life Equity Investment to amend certain terms applicable to it in the partnership contract.

The insurer is expected to enter both agreements by Dec. 31.

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