China Life Insurance has sent a team led by its chief investment officer on a two-week tour of the US and Europe to scout for investment opportunities, the South China Morning Post reported. Yang Chao, chairman of the Beijing-based insurer, declined to give specific targets for aquisitions, but said the firm is looking for investments from the second quarter onwards. Yang added that the subprime mortgage crisis, which has forced many big firms abroad to seek new sources of capital, makes the present a good time to seek out opportunities, as price-earnings ratios for US and European companies are low.
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