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Shares of China Life Insurance jumped 25 percent on their Hong Kong debut Thursday, slightly lagging behind their first-day gains in New York after the insurer raised US$3 billion in its initial public offering.
25 times more people than expected subscribed to the shares for the company's initial public offering, which was the world's largest this year.
Industry observers say the success is a result of China's continuing high economic growth rates and the large flows of foreign investment into China.
China Life is the largest insurance company in the country, holding 45 percent shares of the national insurance market.
(CRI December 19, 2003)
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