Fosun International Limited (“Fosun International”) (00656:HK) and New China Life Insurance Company Limited (“New China Life”) signed a strategic cooperation agreement (“the Agreement”) in Beijing on 28 May, 2018 to jointly announce the establishment of a strategic partnership to promote constructive cooperation between the two parties in the business field.

Mr. Zhang Houlin, Senior Vice President of Fosun International and Mr. Yang Zheng, Vice President and CFO of New China Life signed the Agreement on behalf of the two parties respectively. Mr. Guo Guangchang, Chairman of Fosun International and Mr. Wan Feng, Chairman of New China Life Insurance also witnessed the signing at the venue.

As a nation-wide large-scale life insurance company, New China Life has followed the transformation trend and has returned focus to value protection. Its life insurance, health insurance, personal accident insurance and pension insurance services have covered 27 million individual customers and 70,000 institutional customers in China. Fosun International, which is dedicated to creating a happiness ecosystem of health, happiness and wealth, is committed to providing high-quality products and services to global family customers and combining in-depth industrial operations with industrial investment. Therefore, both parties will have complementary advantages and win together in the future, with a profound material foundation and a vast imagination.

Mr. Guo commented on the strategic partnership, “Rooted in China, Fosun is always optimistic about China’s economy. We are pleased to maintain positive interaction with New China Life, a large-scale financial institution with honesty and trustworthiness. Through deploying professional experience and resources respectively, defending the baseline of risk control, and empowering each other, we shall be capable to continuously create value for our customers, so as to mutually support the implementation of the country’s important strategies.”

According to Mr Guo, Fosun’s industrial operations and products could interact and create synergy with the products of New China Life. “In particular, with the recently launched Youle Customer Loyalty Program, we shall effectively link up the members of different brands with technology at the backend , to form cross-marketing, integration and innovation, in order to achieve the aim of ‘one plus one larger than two’. We are looking forward to joining hands with New China Life to perfect the program that would benefit our customers and bring happiness to every family.”

At the signing ceremony, Mr. Wan Feng said, “Both New China Life and Fosun are dedicated to providing healthy and happy lives for their customers. Based on the common goals, both parties agreed to establish a closer and more enduring strategic partnership. This strategic cooperation is based on extensive mutual interests and solid cooperation foundation, adhering to the cooperative principle of complementary advantages and win-win cooperation, leveraging the competitive advantages of both parties respectively in areas of their own businesses, capital, etc., in order to reinforce their collaboration in healthcare, infrastructure, ‘The Belt and Road Initiative’ and other areas. New China Life will implement the strategic cooperation agreement with Fosun thoroughly with a pragmatic attitude and solid measures.”

Fosun and New China Life Insurance will strengthen the multi-dimensional business cooperation between the two parties, their subsidiaries and branches so as to drive the implementation of the cooperation agreement.