BEIJING, October 9 (InfoChina) – China Life Insurance Group, the parent company of China Life Insurance Co., Ltd. (NYSE: LFC, HK: 2600), intends to acquire a controlling share in Galaxy Securities, a leading securities broker in China, said well-informed industry sources.

After the planned acquisition, China Life is said to have the ambition to broom Galaxy Securities into the country’s biggest securities broker.

       China Life’s appetite for domestic securities brokers has been obvious since China Life and its subsidiary jointly bought 500 million shares, or a 17.22% equity, in CITIC Securities for 4.645 billion yuan in June this year.

       Both CITIC Securities and Galaxy Securities are mainstay securities brokers in China, which occupied 7.21% and 6.25% respectively of the market in China in the first eight months of 2006, ranking the 1^st and the 2^nd among all, according to statistics by Guotai Junan Securities.

       For underwriting business, “Top Four” securities brokers including China International Capital Corporation, CITIC Securities, Galaxy Securities and Guotai Junan Securities dominated more than 80% of the market shares in China.

       As Galaxy Securities is waiting for capital injection from Central Huijin Company, and its restructuring process is still on the way, China Life may hope to obtain Galaxy Securities after all these moves are done.