"Friends Life" granted approval to establish an insurance asset management subsidiary.

Friends Provident Life Insurance announced today that it has obtained approval from the China Banking and Insurance Regulatory Commission to establish Friends Provident Insurance Asset Management Co., Ltd. This move deepens the development pace of Friends Provident Life Insurance in China and marks another important milestone in its continuous cultivation of the Chinese market. It is a direct manifestation of the high-level opening-up achievements of China's financial industry.