China Life (Overseas) Forms Partnership With Hong Kong Television Company

China Life Insurance (Overseas) Co. Ltd., a subsidiary of China Life Insurance (Group) Co. [052446] that operates in Hong Kong and Macau, has formed a strategic partnership with Hong Kong-based Asia Television Ltd.

Under the agreement, Beijing-based China Life said both companies will study the cooperation in areas of insurance business, advertising, marketing and promotions.

China Life Insurance (Overseas) has operated in Hong Kong for around 26 years, offering insurance, investment and provident fund services. Currently, its asset value exceeds HK$26 billion (US$3.4 billion).

Hong Kong-based China Life Insurance (Overseas) also manages four units, including its Hong Kong branch, Macau branch and Shenzhen office, as well as China Life Trustees Ltd.

Established in Hong Kong in May 1957, Asia Television Ltd. is one of the two free-to-air broadcasters in Hong Kong. It operates a 24-hour free analog Chinese channel, and a 22-hour English channel, including five hours dedicated to financial information in Hong Kong. Starting from the end of 2007, ATV rolled out digital services with one free 24-hour high-definition channel and three free standard-definition television channels.

ATV's analog service has been available in southern China's Guangdong province since 2002.

In North America, ATV's pay Chinese television service provides a range of programming in Cantonese to subscribers.

(By Rebecca Ng, Hong Kong news editor: Rebecca.Ng@ambest.com)