On March 26, China Life Insurance Company Limited held its 2025 annual results conference. Regarding bond investment allocation, Vice President and Board Secretary Liu Hui stated that China's bond market is expected to experience low-level fluctuations with a gradually rising trend. The 10-year government bond yield is projected to fluctuate between 1.75% and 1.9%, showing a slight increase compared to last year's average yield of 1.74%. The recent trend of rapid, one-sided declines in interest rates has eased, and long-term yield spreads have widened. Liu Hui emphasized that the company will focus on allocation opportunities arising from the upward movement of debt service rates.

Liu Hui also noted that interest rates remain at relatively low historical levels. In fixed income allocation, the company is adopting a diversified strategy and investing across various types of fixed income products.