Form 6-K

Commission File Number 001-31914

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934

October 30, 2009

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 þ Form 40-F o

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): o

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): o

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 o No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-

Commission File Number 001-31914

China Life Insurance Company Limited issued an announcement on October 30, 2009, a copy of which is attached as Exhibit 99.1 hereto.

EXHIBIT LIST


Exhibit		Description

99.1		Announcement, dated October 30, 2009

Commission File Number 001-31914

SIGNATURES

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

	(Registrant)

	By:	/s/ Wan Feng

		(Signature)

October 30, 2009		Name:	Wan Feng
		Title:	President and Executive Director

Commission File Number 001-31914

EXHIBIT INDEX


Exhibit		Description

99.1		Announcement, dated October 30, 2009

Commission File Number 001-31914

EXHIBIT 99.1

CHINA LIFE INSURANCE COMPANY LIMITED
(A joint stock limited company incorporated in the People’s Republic of China with limited liability)
(the “Company”)
(Stock Code: 2628)

Clarification Announcement of the 2009 Third Quarter Report

Reference is made to the Company’s 2009 Third Quarter Report (the “Report”) published on 26 October 2009 on the website of The Hong Kong Exchanges and Clearing Limited and would like to make the following clarification:

The data was erroneously filled in the item of “Operating expenses” of the “For the three months ended 30 September 2009 Company” in the “Income statement for the third quarter of 2009 (unaudited) (continue)” on page 12 of the Report. The figure should be corrected from “(71,421)” to “(71,488)”.

The full text of the 2009 Third Quarter Report (Amended) is attached to this announcement.


		By Order of the Board of
		China Life Insurance Company Limited
		Heng Kwoo Seng
		Company Secretary

As at the date of this announcement, the Board of Directors of the Company comprises:


Executive Directors:		Yang Chao, Wan Feng, Lin Dairen, Liu Yingqi
Non-executive Directors:		Miao Jianmin, Shi Guoqing, Zhuang Zuojin
Independent non-executive Directors:		Sun Shuyi, Ma Yongwei, Sun Changji, Bruce Douglas Moore

Hong Kong, 30 October 2009

Commission File Number 001-31914

CHINA LIFE INSURANCE COMPANY LIMITED

(A joint stock limited company incorporated in the People’s Republic of China with limited liability)
(Stock Code: 2628)

2009 THIRD QUARTER REPORT

This announcement is made by China Life Insurance Company Limited (the “Company”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The financial data of the Company for the third quarter of 2009 are unaudited and have been prepared in accordance with the China Accounting Standards for Business Enterprises.

Important Notice

1.1 The Company’s Board of Directors, the Supervisory Committee, its Directors, Supervisors and Senior Management warrant that there are no false representations, misleading statements or material omissions in the 2009 third quarter report, and jointly and severally accept full responsibility for the authenticity, accuracy and completeness of the information contained in this report.

1.2 Of the eleven Directors of the Company, ten attended in person. The Chairman and Executive Director Mr Yang Chao, Executive Directors Mr Lin Dairen and Ms Liu Yingqi, Non-executive Directors Mr Miao Jianmin, Mr Shi Guoqing and Ms Zhuang Zuojin, and Independent Non-executive Directors Mr Ma Yongwei, Mr Sun Changji and Mr Bruce Douglas Moore attended the meeting. Independent Non-executive Director Mr Sun Shuyi attended the meeting by phone. Executive Director Mr Wan Feng was absent and gave written authorization to Executive Director Mr Yang Chao to act as proxy to attend and vote in the meeting.

1.3 The Company’s 2009 third quarter financial report is unaudited.

1.4 Mr Yang Chao, Chairman of the Company, Mr Liu Jiade, Vice President in charge of financial affairs, Ms Hwei-Chung Shao, Chief Actuary and Mr Yang Zheng, Head of the Finance Department, confirm that the financial statements in the 2009 third quarter report are true and complete.

Commission File Number 001-31914

Basic Information of the Company

2.1 Major accounting data and financial indicators

Currency: RMB


					Increase/(decrease)
					compared to
	As at		As at		31 December 2008
	30 September 2009		31 December 2008		(%)
Total assets (million)		1,128,245		990,164		13.95
Shareholders’ equity (excluding minority interest) (million)		148,127		134,957		9.76
Net assets per share attributable to shareholders of the Company (RMB)		5.24		4.77		9.76


			Increase/(decrease)
			compared to the
	For the nine months ended		same period of 2008
	30 September 2009		(%)
Net cash flows from operating activities (million)		111,549		- 6.90
Net cash flows per share from operating activities (RMB)		3.95		-6.90


					Increase/(decrease)
					compared to the
	For the reporting		For the nine		same reporting period of
	period (from July to		months ended		2008
	September)		30 September 2009		(%)
Net profit attributable to shareholders of the Company (million)		5,954		19,874		154.55
Basic earnings per share (RMB)		0.21		0.70		154.55
Basic earnings per share after deducting non-recurring items (RMB)		—		0.71		—
Diluted earnings per share (RMB)		0.21		0.70		154.55
Return on net assets (%)		4.02		13.42	An increase of 2.25 percentage points
Return on net assets after deducting non-recurring items (%)		4.06		13.47	An increase of 2.27 percentage points

Commission File Number 001-31914

Note: The data and indicators relating to shareholders’ equity refer to shareholders’ equity attributable to shareholders of the Company. The data and indicators relating to net profit refer to net profit attributable to shareholders of the Company.

As at 30 September 2009, investment assets of the Company were RMB 1,068,706 million. For the nine months ended 30 September 2009, the gross investment yield was 4.71% (or 6.30% if annualized, the simple annualized gross investment yield = (the gross investment yield for the nine months ended 30 September 2009/273)×365), the surrender rate was 2.72%, and the growth rate of premiums earned was -4.74%.

Deducting Non-recurring Items and Amount

RMB Million


	For the nine months ended
Non-recurring items	30 September 2009
Gains/(losses) on disposal of non-current assets		5
Net non-operating income and expenses other than those mentioned above		-118
Effect of income tax expenses		28
Total		-85

Note: As an insurance company, investment (utilization of insurance funds) is one of the main businesses of the Company. Therefore, the non-recurring items do not include fair-value gains/(losses) from held-for-trading financial assets and liabilities, as well as investment income from the disposal of held-for-trading financial assets and liabilities and available-for-sale financial assets.

Commission File Number 001-31914

2.2 The total number of shareholders and the top ten holders of listed shares not subject to trading restrictions as at the end of the reporting period


The total number of shareholders at the end of the reporting period		Number of A share holders: 257,361
		Number of H share holders: 37,206

Particulars of the top ten holders of listed shares not subject to trading restrictions


	Number of listed shares
	not subject to trading
	restrictions held as at
	the end of the
Name of shareholders (Full name)	reporting period		Type
HKSCC Nominees Limited		7,272,252,861	H shares
State Development and Investment Co., Ltd		49,800,000	A shares
ICBC-Lion Stock Securities Investment Fund		29,420,420	A shares
China National Investment & Guaranty Co., Ltd		29,200,000	A shares
IFC-Standard Chartered-Citigroup Global Markets Limited		26,895,476	A shares
UBS AG		26,035,598	A shares
ICBC-Bosera Third Industry Growth Stock Securities Investment Fund		25,000,000	A shares
China Pacific Life Insurance Co., Ltd. —Tradition-Ordinary Insurance Products		23,366,165	A shares
Deutsche Bank Aktiengesellschaft		22,245,458	A shares
China National Nuclear Corporation		20,000,000	A shares
China International Television Corporation		20,000,000	A shares

Commission File Number 001-31914

Significant Events

3.1 Particulars of, and reasons for, material changes in major accounting items and financial indicators of the Company


		þ		Applicable		o		Not applicable

(1) Changes in key financial indicators and its reasons

RMB million

As at

Increase/

Key Financial

30 September

31 December

(decrease)

Indicators

2009

2008

(%)

Main reasons

Total assets

1,128,245

990,164

13.95

Accumulation of insurance
business assets

Total liabilities

978,450

854,283

14.53

Increase in insurance reserves

Shareholders’ equity attributable to shareholders of the Company

148,127

134,957

9.76

Increase in net profit

RMB million

For the nine

months ended

Increase/

Key Financial

30 September

(decrease)

Indicators

2009

2008

(%)

Main reasons

Operating profit

25,226

12,803

97.03

Considerable increase in total investment income resulting from the rally of capital market

Net profit attributable to shareholders of the Company

19,874

13,111

51.58

Considerable increase in total investment income resulting from the rally of capital market

Commission File Number 001-31914

(2) Material changes in major accounting items and its reasons

RMB million


	As at		As at		Increase/
Key Financial	30 September		31 December		(decrease)
Indicators	2009		2008		(%)		Main reasons
Cash and cash equivalents		58,291		34,085		71.02	The Company’s investment assets allocation requirement
Premiums receivables		9,152		6,433		42.27	Accumulation of renewal premiums receivables
Policy loans		12,337		8,676		42.20	Increase in the requirement of policy loans
Financial assets sold under agreements to repurchase		430		11,390		-96.22	The Company’s cash management requirement
Undistributed profit		41,050		28,686		43.10	Considerable increase in total investment income resulting from the rally of capital market

RMB million

For the nine months ended

Increase/

Key Financial

30 September

(decrease)

Indicators

2009

2008

(%)

Main reasons

Fair value gains/(losses)

1,184

-8,006

N/A

Increase in fair value gains of held-for-trading financial assets resulting from the rally of capital market

Policyholder dividends

10,975

2,357

365.63

Increase in investment yield of participating insurance business

Impairment losses

2,349

8,730

-73.09

The rally of capital market

Income tax expenses/(incomes)

5,113

-535

N/A

Increase in deferred income tax and decrease in non-taxable income

Commission File Number 001-31914

3.2 Explanation and analysis of significant events and their impacts and solutions


		o		Applicable		þ		Not applicable

3.3 Implementation of undertakings by the Company, its shareholders and de facto controller


		þ		Applicable		o		Not applicable

1. During the Company’s A shares Initial Public Offering, China Life Insurance (Group) Company, the controlling shareholder of the Company, had undertaken that it would not, within 36 months from the listing of the Company’s A shares, transfer or authorize others to manage any shares of the Company that are directly or indirectly owned by it, nor would it allow the Company to acquire such shares. During the reporting period, China Life Insurance (Group) Company has strictly adhered to the above undertaking and has not breached the above undertaking.

2. Before the Company’s A shares Initial Public Offering (as at 30 November 2006), of the land-use rights injected into the Company by China Life Insurance (Group) Company, at the time of the restructuring and establishment of the Company, formalities for change of titles have not been completed for the land-use rights in respect of 4 pieces of land with a total area of 10,421.12 square meters. Of the properties that were injected into the Company, formalities for change of title have not been completed for 6 properties with a gross floor area of 8,639.76 square meters. China Life Insurance (Group) Company undertook that it would, within one year from the date of listing of the Company’s A shares, assist the Company in completing the formalities for change of titles in respect of the 4 pieces of land and 6 properties mentioned above, failing which it will bear any loss that may be suffered by the Company as a result of such defective titles. China Life Insurance (Group) Company has strictly observed its undertaking. As at the end of the reporting period, all changes of titles had been completed except for two properties and related lands of the Shenzhen Branch of the Company. The Shenzhen Branch of the Company continues to use the above properties and related lands and no other parties have made any challenges or presented obstacles for the use of the properties and related lands.

3. China Life-CMG Life Assurance Company Ltd., a subsidiary of China Life Insurance (Group) Company (“CLIC”), is a sino-foreign joint venture established on 4 July 2000 and owned as to 51% by CLIC and as to 49% by CMG Group of Australia. The scope of operations of China Life-CMG Life Assurance Company Ltd. is to conduct the following businesses (excluding statutory insurance business) within the administrative district of Shanghai municipality and in the provinces, autonomous regions and municipalities directly under the Central Government where it has established branches: (1) insurance business such as life insurance, health insurance and accident and casualty insurance; (2) re-insurance of the above insurance businesses. CLIC has agreed that it will, within three years of the listing of the Company on The Stock Exchange of Hong Kong Limited, dispose all of its interests in this joint venture to any third party or otherwise eliminate any competition between China Life-CMG Life Assurance Company Ltd. and the Company. The Company received written notice from CLIC that as at the end of the reporting period, CLIC was working towards the transfer of its interest in China Life-CMG Life Assurance Company Ltd. The Company will make timely disclosure according to the relevant listing rule requirements of the place where the Company is listed.

Commission File Number 001-31914

3.4 Warnings and explanation for any significant changes in net profit or cumulative loss from the beginning of the year to the end of the next reporting period as compared to the same period of last year


		o		Applicable		þ		Not applicable

3.5 The implementation of cash dividend policy during the reporting period


		o		Applicable		þ		Not applicable

This announcement is published in both Chinese and English languages. The Chinese version announcement shall prevail.


		By Order of the Board of
		China Life Insurance Company Limited
		Heng Kwoo Seng
		Company Secretary

As at the date of this announcement, the Board of Directors of the Company comprises:


Executive Directors:		Yang Chao, Wan Feng, Lin Dairen, Liu Yingqi
Non-executive Directors:		Miao Jianmin, Shi Guoqing, Zhuang Zuojin
Independent non-executive Directors:		Sun Shuyi, Ma Yongwei, Sun Changji,
		Bruce Douglas Moore

Hong Kong, 26 October 2009

Commission File Number 001-31914

4. APPENDIX

4.1 Balance sheet as at 30 September 2009(unaudited)

RMB million (Unless otherwise stated)


	As at		As at		As at		As at
	30 September		31 December		30 September		31 December
	2009		2008		2009		2008
ASSETS	Group		Group		Company		Company

Assets
Cash and cash equivalents		58,291		34,085		57,404		33,934
Held-for-trading financial assets		13,687		14,099		13,685		14,068
Securities purchased under agreements to resell		7,368		—		7,368		—
Interest receivables		14,587		13,097		14,518		13,028
Premiums receivables		9,152		6,433		9,152		6,433
Receivable from reinsurers		21		163		21		163
Unearned premium reserves receivable from reinsurers		72		70		72		70
Claim reserves receivable from reinsurers		22		28		22		28
Reserves for long-term health insurance receivables from reinsurers		735		664		735		664
Policy loans		12,337		8,676		12,337		8,676
Debt plan investments		9,250		9,250		9,200		9,200
Other receivables		3,259		1,485		3,184		1,497
Term deposits		283,374		228,272		281,870		228,272
Available-for-sale financial assets		450,220		424,634		447,487		421,379
Held-to-maturity investments		228,024		211,929		228,017		211,929
Long-term equity investments		8,990		8,222		12,855		11,007
Statutory deposits		6,155		6,153		5,653		5,653
Fixed assets		16,276		16,272		15,758		15,939
Intangible assets		2,747		2,763		2,723		2,742
Deferred tax assets		1,169		2,661		1,172		2,654
Other assets		2,509		1,208		2,500		1,205

Total Assets		1,128,245		990,164		1,125,733		988,541


Yang Chao	Liu Jiade	Hwei-Chung Shao	Yang Zheng
Chairman	Vice President	Chief Actuary	Head of
	in charge of		Financial
	Accounting Affairs		Department

Commission File Number 001-31914

4.1 Balance sheet as at 30 September 2009 (unaudited) (continued)

RMB million (Unless otherwise stated)


	As at			As at			As at		As at
	30 September			31 December			30 September		31 December
	2009			2008			2009		2008
LIABILITIES AND EQUITY	Group			Group			Company		Company

Liabilities
Financial assets sold under agreements to repurchase		430			11,390			30		11,200
Premiums received in advance		1,111			1,811			1,111		1,811
Brokerage and commission payable		1,501			1,654			1,500		1,654
Due to reinsurers		32			49			32		49
Salary and welfare payable		3,086			3,652			2,976		3,506
Taxes payable		2,085			1,952			2,077		1,946
Claims payable		5,917			4,980			5,917		4,980
Policyholder dividends payable		44,710			43,178			44,710		43,178
Other payables		1,658			3,501			1,678		3,534
Policyholder deposits and agency business liabilities		2,474			2,073			2,474		2,073
Unearned premium reserves		8,373			6,642			8,373		6,642
Claim reserves		3,017			2,629			3,017		2,629
Reserves for life insurance		892,148			761,349			892,148		761,349
Reserves for long-term health insurance		9,249			7,772			9,249		7,772
Other liabilities		2,659			1,651			2,659		1,651

Total liabilities		978,450			854,283			977,951		853,974

Shareholders’ equity
Share capital		28,265			28,265			28,265		28,265
Capital reserves		63,714			63,917			63,683		63,874
Surplus reserves		11,298			10,289			11,250		10,241
General risk reserves		3,801			3,801			3,801		3,801
Undistributed profit		41,050			28,686			40,783		28,386
Difference from conversion of foreign exchange statements		(1	)		(1	)		—		—

Total equity attributable to shareholders of the Company		148,127			134,957			147,782		134,567

Minority interests		1,668			924			—		—

Total shareholders’ equity		149,795			135,881			147,782		134,567


Total liabilities and Shareholder’s equity		1,128,245			990,164			1,125,733		988,541


Yang Chao	Liu Jiade	Hwei-Chung Shao	Yang Zheng
Chairman	Vice President	Chief Actuary	Head of
	in charge of		Financial
	Accounting Affairs		Department

Commission File Number 001-31914

4.2 Income statement for the third quarter of 2009 (unaudited)

RMB million (Unless otherwise stated)


	For the nine months ended						For the nine months ended
	30 September						30 September
	2009			2008			2009			2008
	Group			Group			Company			Company
1. Operating income		287,231			284,945			287,066			284,722
Premiums earned		235,434			247,139			235,434			247,139
Premium income		237,264			248,595			237,264			248,595
Including: reinsurance premium income		1			—			1			—
Less: Premiums ceded to reinsurers		(101	)		350			(101	)		350
Unearned premium reserves		(1,729	)		(1,806	)		(1,729	)		(1,806	)
Investment income		49,311			45,319			49,291			45,253
Including: income from associates		605			637			605			637
Fair value gains/(losses)		1,184			(8,006	)		1,183			(7,900	)
Foreign exchange losses		(27	)		(1,008	)		(27	)		(1,004	)
Other operating income		1,329			1,501			1,185			1,234
2. Operating expenses		(262,005	)		(272,142	)		(262,062	)		(272,199	)
Surrenders		(27,008	)		(31,942	)		(27,008	)		(31,942	)
Claims paid		(57,927	)		(66,967	)		(57,927	)		(66,967	)
Less: claims recoverable from reinsurers		74			45			74			45
Increase of insurance reserve		(132,307	)		(130,609	)		(132,307	)		(130,609	)
Less: insurance reserves recoverable from reinsurers		66			(144	)		66			(144	)
Policyholder dividends		(10,975	)		(2,357	)		(10,975	)		(2,357	)
Business tax and surcharges		(950	)		(898	)		(916	)		(865	)
Brokerage and commission fees		(17,501	)		(18,395	)		(17,501	)		(18,395	)
Administrative expenses		(12,475	)		(11,284	)		(12,165	)		(11,107	)
Less: expenses recoverable from reinsurers		(29	)		(58	)		(29	)		(58	)
Other operating expenses		(624	)		(803	)		(1,025	)		(1,070	)
Impairment losses		(2,349	)		(8,730	)		(2,349	)		(8,730	)
3. Operating profit		25,226			12,803			25,004			12,523
Add: Non-operating income		35			20			69			20
Less: Non-operating expenses		(148	)		(98	)		(148	)		(94	)
4. Net profit before income tax expenses		25,113			12,725			24,925			12,449
Less: Income tax expenses		(5,113	)		535			(5,018	)		596
5. Net profit		20,000			13,260			19,907			13,045
6. Attributable to:
Shareholders of the Company		19,874			13,111
Minority interests		126			149
7. Earnings per share
Basic earnings per share	RMB0.70			RMB0.46
Diluted earnings per share	RMB0.70			RMB0.46
8. Other Comprehensive gains/(losses)		(202	)		(39,212	)		(191	)		(39,048	)
9. Total Comprehensive gains/(losses)		19,798			(25,952	)		19,716			(26,003	)
Shareholders of the Company		19,671			(26,088	)
Minority interests		127			136


Yang Chao	Liu Jiade	Hwei-Chung Shao	Yang Zheng
Chairman	Vice President	Chief Actuary	Head of
	in charge of Accounting Affairs		Financial Department

Commission File Number 001-31914

4.2 Income statement for the third quarter of 2009 (unaudited) (continue)

RMB million (Unless otherwise stated)


	For the three months ended						For the three months ended
	30 September						30 September
	2009			2008			2009			2008
	Group			Group			Company			Company
1. Operating income		78,835			76,973			78,706			77,081
Premiums earned		63,124			65,694			63,124			65,694
Premium income		64,441			66,532			64,441			66,532
Including: reinsurance premium income		—			—			—			—
Less: Premiums ceded to reinsurers		(37	)		(32	)		(37	)		(32	)
Unearned premium reserves		(1,280	)		(806	)		(1,280	)		(806	)
Investment income		15,618			11,124			15,559			11,257
Including: income from associates		223			83			223			83
Fair value gains/(losses)		(339	)		(240	)		(339	)		(215	)
Foreign exchange losses		(15	)		(28	)		(15	)		(28	)
Other operating income		447			423			377			373
2. Operating expenses		(71,421	)		(74,385	)		(71,488	)		(74,397	)
Surrenders		(7,575	)		(8,416	)		(7,575	)		(8,416	)
Claims paid		(12,440	)		(14,655	)		(12,440	)		(14,655	)
Less: claims recoverable from reinsurers		27			15			27			15
Increase of insurance reserve		(38,638	)		(38,386	)		(38,638	)		(38,386	)
Less: insurance reserves recoverable from reinsurers		55			—			55			—
Policyholder dividends		(2,979	)		(217	)		(2,979	)		(217	)
Business tax and surcharges		(362	)		(141	)		(347	)		(134	)
Brokerage and commission fees		(5,212	)		(5,554	)		(5,212	)		(5,554	)
Administrative expenses		(4,044	)		(3,562	)		(3,960	)		(3,508	)
Less: expenses recoverable from reinsurers		6			12			6			12
Other operating expenses		(195	)		(378	)		(361	)		(451	)
Impairment losses		(64	)		(3,103	)		(64	)		(3,103	)
3. Operating profit		7,414			2,588			7,218			2,684
Add: Non-operating income		22			10			13			10
Less: Non-operating expenses		(103	)		(58	)		(103	)		(58	)
4. Net profit before income tax expenses		7,333			2,540			7,128			2,636
Less: Income tax expenses		(1,315	)		(184	)		(1,256	)		(168	)
5. Net profit		6,018			2,356			5,872			2,468
6. Attributable to:
Shareholders of the Company		5,954			2,339
Minority interests		64			17
7. Earnings per share
Basic earnings per share	RMB0.21			RMB0.08
Diluted earnings per share	RMB0.21			RMB0.08
8. Other Comprehensive gains/(losses)		(9,745	)		2,533			(9,704	)		2,539
9. Total Comprehensive gains/(losses)		(3,727	)		4,889			(3,832	)		5,007
Shareholders of the Company		(3,785	)		4,830
Minority interests		58			59


Yang Chao	Liu Jiade	Hwei-Chung Shao	Yang Zheng
Chairman	Vice President	Chief Actuary	Head of
	in charge of Accounting Affairs		Financial Department

Commission File Number 001-31914

4.3 Cash flow statement for the third quarter of 2009 (unaudited)

RMB million (Unless otherwise stated)


	For the nine months ended						For the nine months ended
	30 September						30 September
	2009			2008			2009			2008
	Group			Group			Company			Company
1. Cash flows from operating activities
Premiums received		233,742			245,667			233,742			245,667
Net cash from reinsurance business		70			269			70			269
Net increase in policyholder investments and agency business liabilities		284			—			284			—
Net cash from held-for-trading financial assets		1,724			19,350			1,695			19,659
Cash received from other operating activities		912			3,876			876			1,530


Sub-total of cash inflows from operating activities		236,732			269,162			236,667			267,125


Cash paid for claims		(83,994	)		(96,557	)		(83,994	)		(96,557	)
Net decrease in policyholder investments and agency business liabilities		—			(50	)		—			(50	)
Cash paid for brokerage and commission fees		(17,654	)		(18,298	)		(17,654	)		(18,295	)
Cash paid for policyholder dividends		(5,758	)		(7,697	)		(5,758	)		(7,697	)
Cash paid to and for employees		(5,882	)		(7,026	)		(5,715	)		(6,286	)
Cash paid for taxes and surcharges		(5,137	)		(9,865	)		(5,043	)		(9,741	)
Cash paid for other operating activities		(6,758	)		(9,847	)		(7,002	)		(8,487	)


Sub-total of cash outflows from operating activities		(125,183	)		(149,340	)		(125,166	)		(147,113	)


Net cash flows from operating activities		111,549			119,822			111,501			120,012


Yang Chao	Liu Jiade	Hwei-Chung Shao	Yang Zheng
Chairman	Vice President	Chief Actuary	Head of
	in charge of		Financial
	Accounting Affairs		Department

Commission File Number 001-31914

4.3 Cash flow statement for the third quarter of 2009 (unaudited) (continued)

RMB million (Unless otherwise stated)


	For the nine months ended						For the nine months ended
	30 September						30 September
	2009			2008			2009			2008
	Group			Group			Company			Company
2. Cash flows from investing activities
Cash received from sales and redemption of investments		217,795			80,169			215,402			78,508
Cash received from investment income		30,144			38,942			30,027			38,843
Net cash received from disposals of fixed assets, intangible assets and other long-term assets		107			109			315			109
Net cash from securities purchased under agreements to resell		—			2,977			—			2,774


Sub-total of cash inflows from investing activities		248,046			122,197			245,744			120,234


Cash paid for acquisition of investments		(306,428	)		(224,926	)		(304,163	)		(222,913	)
Net increase in policy loans		(3,489	)		(2,014	)		(3,489	)		(2,014	)
Cash paid for acquisition of fixed assets, intangible assets and other long-term assets		(993	)		(1,719	)		(980	)		(1,700	)
Net cash paid for securities purchased under agreements to resell		(7,365	)		—			(7,365	)		—


Sub-total of cash outflows from investing activities		(318,275	)		(228,659	)		(315,997	)		(226,627	)


Net cash flows from investing activities		(70,229	)		(106,462	)		(70,253	)		(106,393	)

Commission File Number 001-31914

4.3 Cash flow statement for the third quarter of 2009 (unaudited) (continued)

RMB million (Unless otherwise stated)


	For the nine months ended						For the nine months ended
	30 September						30 September
	2009			2008			2009			2008
	Group			Group			Company			Company
3. Cash flows from financing activities
Cash received from capital contributions		720			—			—			—
Net proceeds from investment in securities sold under agreements to repurchase		—			4,664			—			4,666


Sub-total of cash inflows from financing activities		720			4,664			—			4,666


Net cash paid for securities sold under agreements to repurchase		(11,047	)		—			(11,251	)		—


Cash paid for dividends and interest		(6,761	)		(11,967	)		(6,501	)		(11,871	)


Sub-total of cash outflows from financing activities		(17,808	)		(11,967	)		(17,752	)		(11,871	)


Net cash flows from financing activities		(17,088	)		(7,303	)		(17,752	)		(7,205	)


4. Effect of changes in foreign exchange rate on cash and cash equivalents		(26	)		(858	)		(26	)		(853	)


5. Net increase/(decrease) in cash and cash equivalents		24,206			5,199			23,470			5,561


Add: Opening balance of cash and cash equivalents		34,085			25,317			33,934			24,808


6. Closing balance of cash and cash equivalents		58,291			30,516			57,404			30,369


Yang Chao Chairman		Liu Jiade Vice President in charge of Accounting Affairs		Hwei-Chung Shao Chief Actuary		Yang Zheng Head of Financial Department