Objective
It is our goal, China Life was the financial and insurance group with world-class "Advanced System Management Corporate Governance, established strict internal controls, leading technology, first-class team, first-class service, excellent brand and development to build harmony".
development strategy
Forcing the scientific outlook on development, China Life seeks to build itself into a modern financial groups and insurance major is bigger, stronger and better. This is an attempt, a strategy of conglomerate "rational allocation of resources, comprehensive benefits are obvious, the core business is strong, precise operation diversification, in compliance with high social and peer recognition, the value of the embedded high, the core competitiveness is is strong and robust growth and sustained implementation ".
stages of development
Stage One: China Life is to strengthen the leading edge of the core business in the field of life insurance and asset management.
Phase Two: The property and casualty insurance and pension business will be developed as the core business, to build China Life to a comprehensive insurance service providers.
The third stage: banks, funds, securities and trust companies will be gradually integrated into the core business of China Life through a variety of channels. So China is Life prospects and investment value improved far.
timetable
In order to implement the "scientific development concept" better, China Life has a scientific roadmap "a center, six and eight overall plan of compliance" developed with its own characteristics.
"A center" means that the work and our thoughts should to "make China Life is bigger, stronger and better in more accurate and fast so be focused on how to build the world-class in a financial and insurance group, and better meet the development serve the wealthy and socialist harmonious society ".
"Six Compliance" is as follows. First, should the "scientific development concept" to be respected for the development of China Life as a guide. Secondly, "the human being and serve the public life" should be respected for the development as a basic orientation. Thirdly, the reform in depth and must be adhered to in the development of independent innovation as the driving force. Fourthly, the political advantages of SOEs are adhered to for the development as a necessary condition. Fifthly, on the basis and teambuilding citing need to provide a strong foundation for the development sequence. Sixth, should strengthen control and prevent risks for the development are respected as a reliable guarantee.
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"Eight Plan" is as follows. First, the speed, scalability, quality and effectiveness should be well integrated for better and faster development with size. Second, the core and affiliated companies should be well integrated to realize the strategy of the conglomerate to "very strong core business and appropriate diversification in operation". Third, the insurance business and capital management should be integrated in order to achieve a breakthrough in the development, is driven by two wheels. Fourthly, business development and team building should be well integrated, so that sustainable development can be realized with the strong support of talents. Fifth, business expansion and centralized control at group level should be well integrated for an orderly and coordinated development. Sixth, integrated development and avoid risks well to the growth should be a safe and stable. Seventh, operations management and the development of the party should also be incorporated in the development of the unique features and advantages of depth. Eighth, business development and social responsibility should be integrated well oriented on people and harmonious development.
Development Framework of the 12th Five Year Plan
In accordance with the overall plan 'conglomerate construction and professional operation "strategy China Life business' core business growth in a comprehensive, resource integration, expansion abroad, quality talent selection, navigation and culture operates." The core competitiveness in life insurance, asset management, property & casualty and pensions will be increased as the main driver for the development of conglomerate. new business in the area of banks and funds be included as a new driver. China Life wants to get away from comprehensive insurance business to develop in a comprehensive financial operations.
Objective Development 12 Five-Year Plan
While the core business to strengthen, China Life tries to acquire a share in the control of the national commercial banks and investment companies provisionally to achieve strategies Three development phase. It builds on substantially a common brand, a common channel and an integrated IT platform. Insurance, asset management, financial services and insurance business that is relevant to the four main business areas. As a comprehensive financial group has both traditional and border market, aims to provide China Life diverse products and services available to their customers, and for leading original companies in the industry with high client approach and the value of the best companies. It will be one of the most important steps towards financial and insurance world-class group.
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