SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
April 7, 2004
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China Life Insurance Company Limited
(Translation of registrant's name into English)
16 Chaowai Avenue
Chaoyang District
Beijing 100020, China
Tel: (86-10) 8565-9999
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F:
Form 20-F ..X... Form 40-F ......
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ___________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): ___________
Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
Yes ..... No ..X..
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ___________
On April 7, 2004, China Life Insurance Company Limited issued an announcement, a
copy of which is attached as Exhibit 99.1 hereto.
EXHIBIT LIST
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Exhibit Description
99.1 Statement, dated April 6, 2004.
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
China Life Insurance Company Limited
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(Registrant)
By: /s/ Miao Fuchun
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(Signature)
Name: Miao Fuchun
Date: April 7, 2004 Title: Director and Vice President
EXHIBIT 99.1
[Company Logo]
CHINA LIFE INSURANCE COMPANY LIMITED
[Company name in Chinese]
(A joint stock limited company incorporated in the People's Republic
of China with limited liability)
(Stock Code : 2628)
ANNOUNCEMENT
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This announcement relates to the audit findings of the National Audit
Office of China ("CNAO") on China Life Insurance (Group) Company ("CLIC").
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References are made to our earlier announcements dated February 3 and March 17,
2004 regarding the audit findings of CNAO.
It was reported in our previous announcements that CNAO had conducted a routine
audit review of the affairs of CLIC for the period up to 2002, prior to the
restructuring. China Life Insurance Company Limited (the "Company") has on April
5, 2004 received from our controlling shareholder, CLIC, a copy of the audit
report dated March 30, 2004 issued by CNAO (the "CNAO audit report") to CLIC.
The CNAO audit report found that (i) CLIC had made certain investments not
permitted by the Insurance Law of the People's Republic of China, made use of
individual agents that were not legally qualified and certain of its branches
carried out activities, including making overpayments upon the refund of
premiums and annuity payments when due, that were not in compliance with the
Insurance Law; (ii) certain branches had over or understated expenses and income
resulting in underpayment of certain taxes; (iii) certain branches had kept
certain funds as "private reserves" for expenditures including for the purchase
of assets and payment of benefits to their employees; and (iv) CLIC had failed
to pay certain taxes within the stipulated time.
The aggregate sum of unpaid taxes and fines now payable by CLIC under the CNAO
audit report amounts to approximately RMB 67.49 million (approximately US$ 8.15
million) (of which RMB 11.09 million being fines). Pursuant to the restructuring
agreement dated September 30, 2003 entered into between the Company and CLIC,
CLIC will be responsible for all liabilities arising from the CNAO audit report.
The Company is considering the report and its implications on the Company in
greater detail and will make further announcement(s) in this regard.
The board of directors of the Company (the "Board") confirms that save as
disclosed above, there are no other matters which are discloseable under Rule
13.10 of the Rules Governing the Listing of Securities on The Stock Exchange of
Hong Kong Limited (the "Listing Rules"), neither is the Board aware of any
matter discloseable under the general obligation imposed by Rule 13.09 of the
Listing Rules, which is or may be of a price sensitive nature.
In the meantime, shareholders and potential investors of the Company should
exercise caution when dealing in the shares in the Company.
Made by the order of the Board, the directors of which individually and jointly
accept responsibility for the accuracy of this announcement.
Commission File Number 001-31914
By Order of the Board of
China Life Insurance Company Limited
Heng Kwoo Seng
Company Secretary
The Board comprises of:
Wang Xianzhang (Executive director)
Miao Fuchun (Executive director)
Wu Yan (Non-executive director)
Long Yongtu (Independent non-executive director)
Chau Tak Hay (Independent non-executive director)
Hong Kong, April 6, 2004