Exhibit 99.1

EXHIBIT 99.1

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)

2010 THIRD QUARTER REPORT

This announcement is made by China Life Insurance Company Limited 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 2010 have been prepared in accordance with the China Accounting Standards for Business Enterprises and are unaudited. Net profit attributable to shareholders of the Company and shareholders’ equity attributable to shareholders of the Company in the consolidated financial statements are identical to the relevant data under International Financial Reporting Standards.

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 this 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, eight attended the Board Meeting. The Chairman and Executive Director Mr. Yang Chao, Executive Directors Mr. Wan Feng and Ms. Liu Yingqi, Non-executive Directors Mr. Miao Jianmin and Ms. Zhuang Zuojin, and Independent Non-executive Directors Mr. Ma Yongwei, Mr. Bruce Douglas Moore and Mr. Anthony Francis Neoh attended the meeting. Executive Director Mr. Lin Dairen, Non-executive Director Mr. Shi Guoqing and Independent Non-executive Director Mr. Sun Changji were absent and gave written authorization to Executive Director Mr. Wan Feng, Non-executive Director Ms. Zhuang Zuojin and Independent Non-executive Director Mr. Ma Yongwei to act as proxy to attend and vote in the meeting, respectively.

Commission File Number 001-31914

1.3

The Company’s 2010 third quarter financial report is unaudited. Unless otherwise stated, financial data for the corresponding period of 2009 were restated based on the changed accounting policies of the Company.

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 Financial Department, confirm that the financial reports in this 2010 third quarter report are true and complete.

Basic Information of the Company

2.1

Major accounting data and financial indicators

(Currency: RMB)


					Increase/(decrease)
	As at		As at		compared to
	30 September 2010		31 December 2009		31 December 2009
Total assets (million)		1,372,735		1,226,257		11.9	%
Shareholders’ equity attributable to shareholders of the Company (million)		206,598		211,072		-2.1	%
Net assets per share attributable to shareholders of the Company (RMB per share)		7.31		7.47		-2.1	%


			Increase/(decrease)
	For the nine months ended		compared to the
	30 September 2010		same period of 2009
Net cash flows from operating activities (million)		146,485		31.3	%
Net cash flows per share from operating activities (RMB per share)		5.18		31.3	%


									Increase/(decrease)
									compared to the
									same period of
			For the same period of 2009						2009 (from July to
	For the reporting		(from July to September)				For the nine		September,
	period (from July		After		Before		months ended		Compared with the
	to September)		restatement		restatement		30 September 2010		restated data)
Net profit attributable to shareholders of the Company (million)		6,911		6,681		5,954		24,945		3.4	%
Basic earnings per share (RMB per share)		0.24		0.24		0.21		0.88		3.4	%
Basic earnings per share after deducting non-recurring items (RMB per share)		0.24		0.24		0.21		0.88		2.5	%
Diluted earnings per share (RMB per share)		0.24		0.24		0.21		0.88		3.4	%
Weighted average ROE (%)		3.47		3.48		3.97		11.76	A decrease of 0.01 percentage points
Weighted average ROE after deducting non-recurring items (%)		3.47		3.51		4.01		11.76	A decrease of 0.04 percentage points


Note:		Shareholders’ equity refers to shareholders’ equity attributable to shareholders of the Company, while net profit refers to net profit attributable to shareholders of the Company.

Commission File Number 001-31914

As at 30 September 2010, investment assets of the Company were RMB 1,283,964 million. For the nine months ended 30 September 2010, the gross investment yield was 3.65% (or 4.88% if annualized, the simple annualized gross investment yield = (the gross investment yield for the nine months ended 30 September 2010/273)×365), the surrender rate was 1.82%, and premiums earned reached RMB256,133 million (the restated data for the corresponding period of 2009 was RMB220,980 million), with a growth rate of 15.9%.

Deducting Non-recurring Items and Amount


	RMB Million
	For the nine months ended
Non-recurring items	30 September 2010
Gains/(losses) on disposal of non-current assets		15
Net non-operating income and expenses other than those mentioned above		(11	)
Effect of income tax expenses		(1	)
Total		3


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

Total number of shareholders and the top ten shareholders not subject to trading restrictions as at the end of the reporting period

Unit: Share


The total number of shareholders as at the end of the reporting period		Number of A shareholders: 266,223 Number of H shareholders: 36,760

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


	Number of listed shares
	not subject to trading
	restrictions held as at the
Name of shareholders (Full name)	end of the reporting period		Type
China Life Insurance (Group) Company		19,323,530,000	A shares
HKSCC Nominees Limited		7,253,281,578	H shares
State Development and Investment Co., Ltd		49,800,000	A shares
China National Investment & Guaranty Co., Ltd		29,600,014	A shares
MORGAN STANLEY & CO. INTERNATIONAL PLC.		28,029,016	A shares
UBS AG		27,333,739	A shares
China Everbright Bank Co. Ltd.-Everbright Pramerica Qualification Core Securities Investment Fund		22,858,859	A shares
Bank of China-Dacheng Blue Chip Steady Securities Investment Fund		22,350,723	A shares
Guotai Jun’an-China Construction Bank-The Hongkong and Shanghai Banking Corporation Limited		21,578,101	A shares
China Pacific Life Insurance Co., Ltd.-Tradition-Ordinary Insurance Products		20,332,882	A shares

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

Commission File Number 001-31914

(1) Changes in key financial indicators and their reasons


	RMB million
	As at		As at
Key Financial	30 September		31 December		Increase/
Indicators	2010		2009		(decrease)			Main reasons
Total assets		1,372,735		1,226,257		11.9	%	Accumulation of insurance business assets
Total liabilities		1,164,411		1,013,481		14.9	%	Increase in insurance reserves
Shareholders’ equity attributable to shareholders of the Company		206,598		211,072		-2.1	%	Distribution of cash dividends and decrease in unrealized gains of financial assets (available-for-sale) resulting from the fluctuation in the capital markets

RMB million

For the nine

months ended

Key

30 September

Increase/

Financial Indicators

2010

2009

(decrease)

Main reasons

Operating profit

30,118

29,986

0.4

Slowdown in the profit growth resulting from the circumstance of the capital market

Net profit attributable to shareholders of the Company

24,945

23,476

6.3

The steady operation and business development of the Company

Commission File Number 001-31914

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


	RMB million
	As at		As at
Key Financial	30 September		31 December		Increase/
Indicators	2010		2009		(decrease)			Main reasons
Interest receivables		20,419		14,199		43.8	%	Increase in the volume of negotiated deposits, and increase in the interest rate of part of new negotiated deposits
Premiums receivables		11,320		6,818		66.0	%	Accumulation of renewal premiums receivables
Policy loans		21,762		13,831		57.3	%	Increase in the demands of policy loans by policyholders
Other receivables		11,643		1,892		515.4	%	Increase in investment receivables
Long-term equity investments		20,656		8,470		143.9	%	Increase in investments to associates
Financial assets sold under agreement to repurchase		16,369		33,553		-51.2	%	The Company’s cash management requirement
Claims payable		8,071		5,721		41.1	%	Increase in payable maturity benefits
Reserve Fund		25,682		18,490		38.9	%	Appropriation of discretionary surplus reserve fund


	RMB million
	For the nine			For the nine
	months ended			months ended
Key Financial	30 September			30 September			Increase/
Indicators	2010			2009			(decrease)			Main reasons
Unearned premium reserves		613			1,545			-60.3	%	The variation of the pace of development of short-term insurance business
Share of results of associates		1,419			735			93.1	%	Increase in net profit of associates
Fair value gains/(losses)		133			1,184			-88.8	%	Impact of capital market fluctuation
Increase in insurance contracts reserve		169,039			127,917			32.1	%	Increase in premiums volume and decrease in claims payment
Impairment losses		957			2,349			-59.3	%	Decrease in assets which meet the condition of impairment losses
Other comprehensive income/(losses)		(9,642	)		(200	)		4721.0	%	Decrease in unrealized gains of financial assets (available-for-sale) resulting from the fluctuation in the capital markets

3.2

Explanation and analysis of significant events and their impacts and solutions


o Applicable		þ Not applicable

Commission File Number 001-31914

3.3

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


þ Applicable		o Not applicable

Prior to the listing of the Company’s A Shares (30 November 2006), land use rights were injected by CLIC into the Company during its reorganization. Out of these, four pieces of land (with a total area of 10,421.12 square meters) had not had its formalities in relation to the change of ownership completed. Further, out of the properties injected into the Company, there were six properties (with a gross floor area of 8,639.76 square meters) in respect of which the formalities in relation to the change of ownership had not been completed. CLIC undertook to complete the abovementioned formalities within 1 year of the date of listing of the Company’s A Shares, and in the event such formalities could not be completed within such period, CLIC would bear any potential losses to the Company in relation thereto. CLIC strictly followed these commitments. As at the end of the Reporting Period, save for the two properties and related land of the Company’s Shenzhen Branch, all other formalities in relation to the change of land and property ownership had been completed. The Shenzhen Branch of the Company continues to use such properties and land, and no other parties have questioned or hindered the use of such properties and land by the Company.

3.4

Warnings and explanation for any significant changes in net profit or cumulative losses 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:		Mr. Yang Chao, Mr. Wan Feng, Mr. Lin Dairen, Ms. Liu Yingqi
Non-executive Directors:		Mr. Miao Jianmin, Mr. Shi Guoqing, Ms. Zhuang Zuojin
Independent non-executive Directors:		Mr. Ma Yongwei, Mr. Sun Changji, Mr. Bruce Douglas Moore, Mr. Anthony Francis Neoh

Hong Kong, 28 October 2010

Commission File Number 001-31914

Appendix

4.1

Balance sheet as at 30 September 2010 (unaudited)


	RMB million (Unless otherwise stated)
	As at		As at		As at		As at
	30 September		31 December		30 September		31 December
	2010		2009		2010		2009
ASSETS	Group		Group		Company		Company

Assets
Cash fund		39,275		36,176		39,048		35,561
Held-for-trading financial assets		9,046		9,102		8,937		9,082
Securities purchased under agreements to resell		1,100		—		1,100		—
Interest receivables		20,419		14,199		20,338		14,111
Premiums receivables		11,320		6,818		11,320		6,818
Receivables from reinsurers		34		17		34		17
Unearned premium reserves receivable from reinsurers		46		83		46		83
Claim reserves receivable from reinsurers		43		31		43		31
Reserves for life insurance receivables from reinsurers		18		9		18		9
Reserves for long-term health insurance receivables from reinsurers		694		692		694		692
Policy loans		21,762		13,831		21,762		13,831
Debt plan investments		10,820		9,250		10,700		9,200
Other receivables		11,643		1,892		11,768		1,846
Term deposits		428,283		344,983		426,950		343,483
Available-for-sale financial assets		524,757		517,499		521,194		514,055
Held-to-maturity investments		242,768		235,099		242,762		235,092
Long-term equity investments		20,656		8,470		24,521		12,335
Statutory deposits		6,153		6,153		5,653		5,653
Constructions in progress		1,785		3,536		1,785		3,336
Fixed assets		15,943		13,511		15,428		13,184
Intangible assets		3,715		3,402		3,688		3,372
Other assets		2,366		1,452		2,362		1,447
Separate account assets		89		52		89		52


Total Assets		1,372,735		1,226,257		1,370,240		1,223,290


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

Commission File Number 001-31914

4.1

Balance sheet as at 30 September 2010 (unaudited) (continued)


	RMB million (Unless otherwise stated)
	As at			As at			As at		As at
	30 September			31 December			30 September		31 December
	2010			2009			2010		2009
LIABILITIES AND EQUITY	Group			Group			Company		Company

Liabilities
Financial assets sold under agreements to repurchase		16,369			33,553			16,079		32,810
Premiums received in advance		1,949			1,804			1,949		1,804
Brokerage and commission payable		1,991			1,320			1,991		1,320
Reinsurance payable		37			30			37		30
Salary and welfare payable		2,925			4,447			2,755		4,287
Taxes payable		201			4,206			177		4,195
Dividends payable		111			—			—		—
Claims payable		8,071			5,721			8,071		5,721
Policyholder dividends payable		56,002			54,587			56,002		54,587
Other payable		2,223			3,078			2,346		3,074
Policyholder deposits		69,278			67,274			69,278		67,274
Unearned premium reserves		6,573			5,997			6,573		5,997
Claim reserves		2,985			2,944			2,985		2,944
Reserves for life insurance		970,273			802,895			970,273		802,895
Reserves for long-term health insurance		7,947			6,328			7,947		6,328
Deferred tax liabilities		14,010			16,361			14,024		16,377
Other liabilities		3,377			2,884			3,377		2,882
Separate account liabilities		89			52			89		52


Total liabilities		1,164,411			1,013,481			1,163,953		1,012,577


Shareholders’ equity
Share capital		28,265			28,265			28,265		28,265
Capital reserve		65,028			74,662			64,980		74,598
Reserve fund		25,682			18,490			25,634		18,442
General reserve		9,636			9,636			9,636		9,636
Retained earnings		77,988			80,020			77,772		79,772
Exchange differences from translating foreign operating		(1	)		(1	)		—		—


Total equity attributable to shareholders of the Company		206,598			211,072			206,287		210,713


Minority interests		1,726			1,704			—		—


Total shareholders’ equity		208,324			212,776			206,287		210,713


Total liabilities and shareholders’ equity		1,372,735			1,226,257			1,370,240		1,223,290


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

Commission File Number 001-31914

4.2

Income statement for the third quarter of 2010 (unaudited)


	RMB million (Unless otherwise stated)
	For the nine months						For the nine months
	ended 30 September						ended 30 September
	2010			2009			2010			2009
	Group			Group			Company			Company
				(Restated)						(Restated)

1. Operating income		305,567			273,404			305,318			273,235
Premiums earned		256,133			220,980			256,133			220,980
Premium income		256,866			222,626			256,866			222,626
Including: reinsurance premium income		—			1			—			1
Less: Premiums ceded to reinsurers		(120	)		(101	)		(120	)		(101	)
Unearned premium reserves		(613	)		(1,545	)		(613	)		(1,545	)
Investment income		47,403			49,489			47,386			49,465
Including: share of results of associates		1,419			735			1,419			735
Fair value gains/(losses)		133			1,184			129			1,183
Foreign exchange gains/(losses)		(189	)		(27	)		(188	)		(27	)
Other operating income		2,087			1,778			1,858			1,634
2. Operating expenses		(275,449	)		(243,418	)		(275,447	)		(243,471	)
Surrenders		(19,220	)		(18,774	)		(19,220	)		(18,774	)
Claims expense		(40,391	)		(50,287	)		(40,391	)		(50,287	)
Less: claims recoverable from reinsurers		68			74			68			74
Increase in insurance contracts reserve		(169,039	)		(127,917	)		(169,039	)		(127,917	)
Less: insurance reserves recoverable from reinsurers		23			—			23			—
Policyholder dividends		(9,152	)		(10,975	)		(9,152	)		(10,975	)
Business tax and surcharges expense		(1,018	)		(950	)		(977	)		(916	)
Underwriting and policy acquisition costs		(20,236	)		(17,501	)		(20,236	)		(17,501	)
Administrative expenses		(12,914	)		(12,475	)		(12,491	)		(12,165	)
Less: expenses recoverable from reinsurers		29			(29	)		29			(29	)
Other operating expenses		(2,642	)		(2,235	)		(3,104	)		(2,632	)
Impairment losses		(957	)		(2,349	)		(957	)		(2,349	)
3. Operating profit		30,118			29,986			29,871			29,764
Add: Non-operating income		40			35			40			69
Less: Non-operating expenses		(36	)		(148	)		(35	)		(148	)
4. Net profit before income tax expenses		30,122			29,873			29,876			29,685
Less: Income tax expenses		(5,036	)		(6,271	)		(4,899	)		(6,176	)
5. Net profit		25,086			23,602			24,977			23,509
6. Attributable to:
- shareholders of the Company		24,945			23,476
- minority interests		141			126
7. Earnings per share
Basic earnings per share	RMB0.88			RMB0.83
Diluted earnings per share	RMB0.88			RMB0.83
8. Other Comprehensive income/(losses)		(9,642	)		(200	)		(9,618	)		(194	)
9. Total Comprehensive income/(losses)		15,444			23,402			15,359			23,315
- shareholders of the Company		15,311			23,274
- minority interests		133			128


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

Commission File Number 001-31914

4.2

Income statement for the third quarter of 2010 (unaudited) (continue)


	RMB million (Unless otherwise stated)
	For the three months						For the three months
	ended 30 September						ended 30 September
	2010			2009			2010			2009
	Group			Group			Company			Company
				(Restated)						(Restated)

1. Operating income		88,907			74,935			88,756			74,805
Premiums earned		72,544			58,987			72,544			58,987
Premium income		73,252			60,166			73,252			60,166
Including: reinsurance premium income		—			—			—			—
Less: Premiums ceded to reinsurers		(30	)		(37	)		(30	)		(37	)
Unearned premium reserves		(678	)		(1,142	)		(678	)		(1,142	)
Investment income		15,032			15,665			14,978			15,605
Including: share of results of associates		349			268			349			268
Fair value gains/(losses)		515			(339	)		510			(339	)
Foreign exchange gains/(losses)		(110	)		(15	)		(110	)		(15	)
Other operating income		926			637			834			567
2. Operating expenses		(80,390	)		(66,566	)		(80,394	)		(66,633	)
Surrenders		(6,410	)		(5,465	)		(6,410	)		(5,465	)
Claims expense		(12,446	)		(10,990	)		(12,446	)		(10,990	)
Less: claims recoverable from reinsurers		14			27			14			27
Increase in insurance contracts reserve		(46,420	)		(36,731	)		(46,420	)		(36,731	)
Less: insurance reserves recoverable from reinsurers		18			(5	)		18			(5	)
Policyholder dividends		(2,957	)		(2,979	)		(2,957	)		(2,979	)
Business tax and surcharges expense		(295	)		(362	)		(280	)		(347	)
Underwriting and policy acquisition costs		(6,274	)		(5,212	)		(6,274	)		(5,212	)
Administrative expenses		(4,152	)		(4,044	)		(4,009	)		(3,960	)
Less: expenses recoverable from reinsurers		11			6			11			6
Other operating expenses		(842	)		(747	)		(1,004	)		(913	)
Impairment losses		(637	)		(64	)		(637	)		(64	)
3. Operating profit		8,517			8,369			8,362			8,172
Add: Non-operating income		11			22			11			13
Less: Non-operating expenses		(9	)		(103	)		(9	)		(103	)
4. Net profit before income tax expenses		8,519			8,288			8,364			8,082
Less: Income tax expenses		(1,548	)		(1,543	)		(1,505	)		(1,484	)
5. Net profit		6,971			6,745			6,859			6,598
6. Attributable to:
- shareholders of the Company		6,911			6,681
- minority interests		60			64
7. Earnings per share
Basic earnings per share	RMB0.24			RMB0.24
Diluted earnings per share	RMB0.24			RMB0.24
8. Other Comprehensive income/(losses)		7,954			(9,743	)		7,908			(9,707	)
9. Total Comprehensive income/(losses)		14,925			(2,998	)		14,767			(3,109	)
- shareholders of the Company		14,859			(3,057	)
- minority interests		66			59


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

Commission File Number 001-31914

4.3

Cash flow statement for the third quarter of 2010 (unaudited)


	RMB million (Unless otherwise stated)
	For the nine months						For the nine months
	ended 30 September						ended 30 September
	2010			2009			2010			2009
	Group			Group			Company			Company
				(Restated)						(Restated)

1. Cash flows from operating activities
Premiums received		252,295			218,843			252,295			218,843
Net cash from reinsurance business		—			70			—			70
Net increase in policyholder deposits		1,060			—			1,060			—
Net cash from securities at fair value through income		—			1,724			—			1,695
Cash received from other operating activities		1,626			1,472			981			1,436


Sub-total of cash inflows from operating activities		254,981			222,109			254,336			222,044


Cash paid for claims		(57,272	)		(68,124	)		(57,272	)		(68,124	)
Net cash paid for reinsurance business		(33	)		—			(33	)		—
Net decrease in policyholder deposits		—			(1,245	)		—			(1,245	)
Cash paid for brokerage and commission fees		(19,565	)		(17,654	)		(19,565	)		(17,654	)
Cash paid for policyholder dividends		(5,445	)		(5,758	)		(5,445	)		(5,758	)
Cash paid to and for employees		(6,986	)		(5,882	)		(6,788	)		(5,715	)
Net cash paid for securities at fair value through income		(107	)		—			(98	)		—
Cash paid for taxes and surcharges		(11,305	)		(5,137	)		(11,137	)		(5,043	)
Cash paid for other operating activities		(7,783	)		(6,760	)		(7,540	)		(7,004	)


Sub-total of cash outflows from operating activities		(108,496	)		(110,560	)		(107,878	)		(110,543	)


Net cash flows from operating activities		146,485			111,549			146,458			111,501


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

Commission File Number 001-31914

4.3

Cash flow statement for the third quarter of 2010 (unaudited) (continued)


	RMB million (Unless otherwise stated)
	For the nine months						For the nine months
	ended 30 September						ended 30 September
	2010			2009			2010			2009
	Group			Group			Company			Company
				(Restated)						(Restated)

2. Cash flows from investing activities
Cash received from sales and redemption of investments		178,394			217,795			175,361			215,402
Cash received from investment income		31,127			30,144			30,985			30,027
Net cash received from disposals of fixed assets, intangible assets and other long-term assets		102			107			58			315


Sub-total of cash inflows from investing activities		209,623			248,046			206,404			245,744


Cash paid for investments		(304,522	)		(306,428	)		(301,406	)		(304,163	)
Net increase in policy loans		(7,288	)		(3,489	)		(7,288	)		(3,489	)
Cash paid for acquisition of fixed assets, intangible assets and other long-term assets		(2,913	)		(993	)		(2,852	)		(980	)
Net cash paid for securities purchased under agreements to resell		(1,023	)		(7,365	)		(1,023	)		(7,365	)


Sub-total of cash outflows from investing activities		(315,746	)		(318,275	)		(312,569	)		(315,997	)


Net cash flows from investing activities		(106,123	)		(70,229	)		(106,165	)		(70,253	)

Commission File Number 001-31914

4.3

Cash flow statement for the third quarter of 2010 (unaudited) (continued)


	RMB million (Unless otherwise stated)
	For the nine months						For the nine months
	ended 30 September						ended 30 September
	2010			2009			2010			2009
	Group			Group			Company			Company
				(Restated)						(Restated)

3. Cash flows from financing activities
Cash received from capital contributions		—			720			—			—


Sub-total of cash inflows from financing activities		—			720			—			—


Net cash paid for securities sold under agreements to repurchase		(17,371	)		(11,047	)		(16,915	)		(11,251	)
Cash paid for dividends and interest		(19,785	)		(6,761	)		(19,785	)		(6,501	)


Sub-total of cash outflows from financing activities		(37,156	)		(17,808	)		(36,700	)		(17,752	)


Net cash flows from financing activities		(37,156	)		(17,088	)		(36,700	)		(17,752	)


4. Effect of changes in foreign exchange rate on cash and cash equivalents		(108	)		(26	)		(107	)		(26	)


5. Net increase/(decrease) in cash and cash equivalents		3,098			24,206			3,486			23,470


Add: Opening balance of cash and cash equivalents		36,197			34,085			35,582			33,934


6. Closing balance of cash and cash equivalents		39,295			58,291			39,068			57,404


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