# EDGAR Filing Document

**Accession Number:** 0001268896
**File Stem:** 0001193125-23-084881
**Filing Date:** 2023-3
**Character Count:** 406940
**Document Hash:** 478d8723d975b6c959304cbbb3e6b9c6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-084881.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001193125-23-084881

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 78

**CONFORMED PERIOD OF REPORT**: 20230330

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CHINA LIFE INSURANCE CO LTD
- **CENTRAL INDEX KEY:** 0001268896
- **STANDARD INDUSTRIAL CLASSIFICATION:** LIFE INSURANCE [6311]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** F4
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-31914
- **FILM NUMBER:** 23778486

**BUSINESS ADDRESS:**
- **STREET 1:** 16 FINANCIAL STREET
- **STREET 2:** XICHENG DISTRICT
- **CITY:** BEIJING
- **STATE:** F4
- **ZIP:** 100033
- **BUSINESS PHONE:** 861063633333

**MAIL ADDRESS:**
- **STREET 1:** 16 FINANCIAL STREET
- **STREET 2:** XICHENG DISTRICT
- **CITY:** BEIJING
- **STATE:** F4
- **ZIP:** 100033

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CHINE LIFE INSURANCE CO LTD
- **DATE OF NAME CHANGE:** 20031103

**Commission File Number 001-31914** 

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**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM 6-K** 

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**Report of Foreign Private Issuer** 

**Pursuant to Rule 13a-16 or 15d-16** 

**of the Securities Exchange Act of 1934** 

**March 30, 2023** 

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## China Life Insurance Company Limited
**(Translation of registrant's name into English)** 

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**16 Financial Street** 

**Xicheng District** 

**Beijing 100033, China** 

**Tel: (86-10) 6363-3333** 

**(Address of principal executive offices)** 

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Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

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Commission File Number 001-31914

China Life Insurance Company Limited issued an announcement on March 29, 2023, a copy of which is attached as Exhibit 99.1 hereto.

Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission, or SEC, on April 29, 2022 and in the Company's other filings with the SEC. You should not place undue reliance on these forward-looking statements. All information provided in this announcement is as of the date of this announcement, unless otherwise stated, and we undertake no duty to update such information, except as required under applicable law. Unless otherwise indicated, the Chinese insurance market information set forth in this announcement is based on public information released by the China Banking and Insurance Regulatory Commission.

**<u>EXHIBIT LIST</u>**

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| | |
|:---|:---|
| **Exhibit** | **Description** |
| 99.1 | [Announcement, dated March 29, 2023](d480514dex991.htm) |

---

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Commission File Number 001-31914

**<u>SIGNATURES</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  |  | **China Life Insurance Company Limited** |
|  |  | (Registrant) |
|  | By: | /s/ Zhao Peng |
|  |  | (Signature) |
| March 30, 2023 | Name: | Zhao Peng |
|  | Title: | President and Executive Director |

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## Exhibit 99.1

**Exhibit 99.1** 

**China Life Insurance Company Limited** 

**2022 Environmental, Social and Governance &** 

**Social Responsibility Report** 

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**Contents** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **About the Report** | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Message from the Chairman** | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Performance Highlights 2022** | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **About Us** | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Recognitions in 2022** | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Statement by the Board of Directors** | 9 |
| **1. Engine of China Life** | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Practicing Green Finance** | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Sticking to Responsible Investment** | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Promoting Low-carbon Operations** | 14 |
| **2. Efforts of China Life** | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Converging Multiple Products** | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Deepening Scientific and Technological Innovation** | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building Smart Services** | 31 |
| **3. Responsibilities of China Life** | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Serving National Strategies** | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mobilizing Public Welfare Efforts** | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Focus on Personnel Development and Training** | 50 |
| **4. Credit of China Life** | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Sound Governance** | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Sustainable Governance** | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Responsible Governance** | 62 |
|  **List of Measures and Regulations** | 72 |
|  **Table of KPI** | 74 |
|  **ESG Index** | 78 |
|  **GRI Index** | 83 |
|  **Feedback Form** | 88 |

---

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**About the Report** 

This report is the 16th Environmental, Social and Governance Report of China Life Insurance Company Limited (hereinafter referred to as "China Life"). This report aims at responding to stakeholders' expectations and demonstrating its concept, actions and performance related to the environment, society, corporate governance and sustainable development.

**Organizations Covered by the Report** 

If not specified, all data and information disclosed in the report cover China Life. Its subsidiaries are excluded.

**Notes on the Data of the Report** 

The key financial data of this report came from the audited *2022 Annual Report of China Life Insurance Company Limited* and other data from the Company's internal documents and related statistics.

**Time Range of the Report** 

From January 1 to December 31, 2022, with part of the content in excess thereof.

**Basis for Report Preparation** 

The report is prepared in accordance with *Environmental, Social and Governance Reporting Guide* issued by HKEX, *Notice on Strengthening Listed Companies' Assumption of Social Responsibility* and the *Shanghai Stock Exchange' Guidelines on Listed Companies' Environmental Information Disclosure* issued by Shanghai Stock Exchange and discloses information as per Global Reporting Initiative's (GRI) *Sustainability Reporting Guidelines.*

**Notes on Appellation** 

For the convenience of expression and reading, China Life Insurance Company Limited is hereinafter referred to as "China Life" "the Company" or "we". If not specified, the amount is shown in RMB (yuan).

**Reporting Period** 

This is an annual report.

**How to Obtain the Report** 

The report is release in online version. You can browse and download the Simplified Chinese, Traditional Chinese, and English versions of the report at the following website:

The official website of the Company (www.e-chinalife.com)

The website of Shanghai Stock Exchange (www.sse.com.cn)

The website of SEHK (www.hkex.com.hk)

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**Message from the Chairman** 

The 20th National Congress of the Communist Party of China in 2022 drawed an ambitious blueprint to advance the great rejuvenation of China on all fronts through a Chinese path to modernization. As a company with deep roots in China, China Life is dedicated to following the guidance of Xi Jinping's Thought on Socialism with Chinese Characteristics for a New Era. We actively implement the decisions and arrangements made by the CPC Central Committee, with a steadfast focus on the precautionary function of insurance and the principle of "insurance is for guarantee, insurance is for people". As a national financial enterprise and "main force" with high-quality development, China Life is committed to fully leveraging its exemplary role. With a total market value that surpasses most insurance companies worldwide, China Life is a leading insurance company that prioritizes sustainability and corporate social responsibility. Our widely recognized ESG practices have earned us a BBB rating from MSCI, an international authoritative rating agency, which indicates that we are at the forefront of the domestic life insurance industry. Our pursuit of excellence has also garnered numerous accolades, including the Best Investment Value Award for Listed Companies of the China Securities Golden Bauhinia Award and the Best Life Insurance Company of the Year in Asia. We are proud to have embarked on a "China Life ESG Road" with Chinese characteristics that align with international standards.

Over the past year, we have incorporated the goal of "Two Mountains Theory"\* and sustainable development as well as carbon peaking and carbon neutrality into our operations and management. By establishing a new engine of green finance, we have added vibrancy to the Beautiful China initiative. Through green finance, we are promoting green development and actively serving customers in the green industry while complementing insurance coverage and liabilities. Our accumulated size of green investment in stock has surpassed RMB 430 billion. We've also achieved a paperless rate of nearly 100% for personal long-term insurance purchases, an online policy service rate of over 92% and an electronification rate of over 90% for claim settlements. We have created a full process of online services by making effective use of data to ensure that customers can easily accomplish their tasks.

Over the past year, we have remained committed to our insurance roots, supporting major national strategies and leading the industry. Our focus on core responsibilities and businesses has contributed to the construction of a multi-level social security system. By promoting inclusive insurance and policy-related businesses, we've undertaken over 200 critical illness insurance projects, resulting in a reduction of more than RMB 25 billion in medical costs for our insured customers. In addition, we have implemented more than 100 city-specific medical insurance projects. Our commitment to serving the aging population has led us to establish personal pension businesses in 36 cities. We are dedicated to supporting the real economy with accumulated investments exceeding RMB 3.6 trillion. Furthermore, we've harnessed the power of insurance to help with rural revitalization, with a cumulative RMB 239 million in assistance funds and deploying nearly 1,000 cadres in 1,048 paired assistance points.

Over the past year, our unwavering commitment to providing insurance that benefits the people has remained steadfast. Our practices are centered around improving people lives. Moreover, we focus our efforts on creating simple, high-quality, and compassionate services. We have provided over 350 million sessions of customer support, and we have successfully processed over 19 million claims, consistently ranking among the top performers in operational efficiency and customer satisfaction within the industry. We also recognize the unique insurance needs of elderly customers, and we have developed several service models to meet and accommodate their needs, providing over 25.59 million sessions of services to elderly customers. Additionally, we have actively carried out a pilot project of occupational injury protection for those employed in new businesses, and developed six insurance products for new urban residents. We have donated more than 11 million public welfare insurance products, leveraging the characteristic role of commercial insurance in assistance.

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Over the past year, we have made significant improvements in our corporate governance, striking a balance between development and security and laying a solid foundation for China Life. We are actively promoting the organic integration of Party leadership and corporate governance, leveraging institutional advantages to improve governance efficiency. We have also established an ESG and green financial management structure with primary responsibility resting with the board of directors, and established a sustainable development model that benefits society. We are fully committed to implementing a holistic approach to national security and integrating ESG risks into our comprehensive risk management system to ensure that we maintain a bottom line of zero systemic risks.

Great visions can be realized only through concrete actions. 2023 is the year to fully embrace the spirit of the 20th National Congress of the Communist Party of China and a crucial year to implement the 14th Five-Year Plan. It also marks the 20th anniversary of China Life's share reform and listing. With determination, foresight, and courage, we will charge at the toughest and aim at the farthest. Our commitment to advancing ESG practices remains unwavering, as we strive to contribute to the Beautiful China initiative through high-quality development.

Chairman of China Life Insurance Company Limited <br> Bai Tao

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**Performance Highlights 2022** 

**Engine of China Life** 

• China Life developed a *Green Finance Development Strategy (2023—2025)*.

• By December 31, 2022, China Life's accumulative size of green investment in stock exceeded RMB
430 billion.

• The paperless insurance coverage rate of personal business approached 100%, and the rate of electronic claim
settlement exceeded 90%.

**Efforts of China Life** 

• Medical expenses of more than RMB 25 billion were paid out to 18 million cases in critical illness
insurance.

• The average lead time of claim settlement was 0.43 day and the claim settlement rate was 99.65%.

• China Life developed 84 new products and upgraded 4 existing products.

• China Life was one of the first insurance institutions to launch the personal pension business.

• By 31 December 2022, a range of age-friendly services were provided
to 25.59 million elderly customers.

• China Life was the first in the industry to be certified the highest level (Level 5) of the National Data
Management Capability Maturity.

**Responsibilities of China Life** 

• By December 31, 2022, China Life had invested cumulative RMB 239 million in rural assistance, RMB
138 million in assistance through conception.

• By December 31, 2022, China Life had made cumulative investments of 3.6 trillion in the real economy and
over RMB 2.3 trillion in serving regional development economies.

• China Life donated public benefit insurance to more than 11 million people.

• China Life had 100,378 employees, with 56.51% female employees.

• The average training hours per employee were 114.56 hours.

**Credit of China Life** 

• China Life was rated Class A in the Corporate Entity Business Evaluation for Insurance Companies for 7
consecutive years.

• China Life was rated BBB in the MSCI ESG Scoring.

• China Life has built an ESG and green finance management framework.

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**About Us** 

China Life, headquartered in Beijing, is an industry leader in China's life insurance industry, with a registered capital of RMB 28.265 billion. As a core member of China Life Insurance (Group) Company, the company is one of the Fortune Global 500 companies and the World's 500 Most Influential Brands. The company has won the trust of the society with its long history, strong strength, professional expertise, competitive advantage and a world-famous brand. It has been a pacesetter in China's life insurance market and is known as the "mainstay" of China's insurance industry.

The predecessor of China Life was the same age as that of the People's Republic of China. Established in October 1949 and approved by the central government, it is one of the earliest insurance companies in China and shoulders the important responsibility as an explorer and pioneer of China's life insurance industry. During the long-term development course, the company has fostered a stable professional management team, accumulated rich management experience, and is well versed in the domestic life insurance market. China Life was listed overseas in December 2003 and returned to the domestic A-share market in January 2007.

In 2022, China Life registered a premium income of RMB 615.19 billion. It comprised 19 thousand branches across the country<sup>1</sup> and employed over 100 thousand people and 729 thousand exclusive individual agents in various channels. China Life is a leading provider of individual and group life insurance, annuity, and accident and health insurance in China. As of December 31, 2022, the Company's total assets reached RMB 5.25 trillion. It had 325 million in-force long-term individual and group life insurance policies, annuity contracts, long-term health insurance and long-term accident insurance policies, as well as individual and group accident insurance and short-term health insurance policies and services.

**Corporate Culture**![LOGO](g480514g0329152533565.jpg)

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<sup>1</sup> Including provincial branches and municipal branches, sub-branches, business departments, and marketing service departments.

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;China Life's corporate culture system | &nbsp;&nbsp;&nbsp;China Life's corporate culture system |
| &nbsp;&nbsp;&nbsp;Mission | Serve China's overall development and protect the people's good life |
| &nbsp;&nbsp;&nbsp;Vision | Build a world-class life insurance company |
| &nbsp;&nbsp;&nbsp;Core Values | Fulfill ourselves to benefit others and fulfill others to benefit ourselves |
| &nbsp;&nbsp;&nbsp;Business Philosophy | Integrity, innovation, people-centricity and value |
| &nbsp;&nbsp;&nbsp;Brand Slogan | Life-long promise, life-long partner |

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**Recognitions in 2022** 

**China Life's awards and recognitions in 2022** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;*Forbes* | Ranked 71st on the *Forbes* list of Global 2,000 Listed Companies in 2022 |
| &nbsp;&nbsp;&nbsp;*Fortune* | Ranked 9th on *Fortune*'s China 500 List for 2022 |
| &nbsp;&nbsp;&nbsp;*21st Century Business Herald* | Best Life Insurance Company of the Year in Asia 2022<br> Insurance Company with Brank Influence in 2022 |
| &nbsp;&nbsp;&nbsp; Hong Kong Ta Kung Wen Wei Media Group, Beijing Association of Listed Companies, Hong Kong Chinese Enterprises Association, Hong Kong China Finance Association, Chinese Securities Association of Hong Kong and The Hong Kong Chartered Governance Institute<br> The 12th (2022) China Securities Golden Bauhinia Award | Best Investment Value Award for High-quality Development Listed Companies |
| &nbsp;&nbsp;&nbsp; *Securities Times*<br> 2022 Ark Awards for Insurance Companies | 2022 Ark Award for High-Quality Development Insurance Companies<br> 2022 Ark Award for Golden Insurance Services<br> 2022 Ark Award for Insurance Companies of Excellence in Social Responsibility |
| &nbsp;&nbsp;&nbsp;*China Investment Network* | Influential Company 2022 of Jinxi Awards<br> 2022 ESG Green Star |
| &nbsp;&nbsp;&nbsp;Hexun.com | Influential Insurance Company of the Year 2022<br> Social Responsibility Award 2022 |
| &nbsp;&nbsp;&nbsp;JRJ.com | Global Insurance Technology Enterprise Award |
| &nbsp;&nbsp;&nbsp;*21st Century Business Herald* | Outstanding Customer Service of the Year 2022 |
| &nbsp;&nbsp;&nbsp;*21st Century Business Herald* | Outstanding Digital Transition of the Year 2022 |
| &nbsp;&nbsp;&nbsp;*Caijing* | Sustainable Development and Inclusion Award of Evergreen Awards |
| &nbsp;&nbsp;&nbsp;*China Banking and Insurance News* | Top 10 Social Responsibility Reports of Jinnuo Awards |
| &nbsp;&nbsp;&nbsp;Investor China | Enterprise of the Year in ESG Practice of Jinqiao Prize |
| &nbsp;&nbsp;&nbsp;Jiemian News | Excellent Corporate Social Responsibility Award of Top 60 ESG Pioneers in 2022 |
| &nbsp;&nbsp;&nbsp; *Sina Finance*<br> ESG Golden Awards for China Enterprises in 2022 | <br> Best Company in Governance Responsibility<br> Best Insurance Company in Responsible Investment |

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**Statement by the Board of Directors** 

The Board of Directors of China Life implements the ESG strategic goal of "building a world-class and responsible life insurance company." The Board plans to create a sound ESG work system with China Life's characteristics by 2025, including establishing an ESG governance scheme, improving ESG policies and systems, enhancing the ESG risk management system, implementing special ESG actions, exploring the application of digital technology in ESG management, strengthening ESG information disclosure, and increasing industry influence and recognition.

China Life's original ESG governance structure has been upgraded to an ESG and green finance management structure with the Board of Directors as the responsible body. The Board of Directors, the Strategy and Asset-Liability Management Committee of the Board, the President's Office, the ESG/Green Finance Committee, and relevant departments and branches of the head office are assigned with clarified responsibilities. An ESG and green finance management structure with China Life's characteristics has been formed.

China Life prioritizes the process of determining material ESG topics and protecting stakeholders' rights and interests. The Company conducts a materiality assessment for ESG topics every year based on the macro economic and social environment and the Company's development strategy, in which the Company's ESG risks and opportunities are discusses and determines. Management and improvement of key material topics are considered as an annual priority for ESG work. The Board of Directors reviews and confirms the assessment results. It considers the material topics as part of the Company's overall strategy development and oversees the management and performance of these topics.

In 2022, the Board of Directors reviewed four ESG-related proposals.

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Time of deliberation | ESG item for deliberation |
| &nbsp;&nbsp;&nbsp;March 24, 2022 | The Company's *2021 Environmental, Social and Governance & Social Responsibility Report* was deliberated. |
| &nbsp;&nbsp;&nbsp;October 27, 2022 | The Company's *Rules of Procedure for the Strategy and Asset-Liability Management Committee of the Board of Directors* was revised, with ESG and green finance-related management responsibilities were organically embedded in the Company's governance structure. |
| &nbsp;&nbsp;&nbsp;December 15, 2022 | The Company's *Green Finance Development Strategy (2023—2025)* was deliberated. |
| &nbsp;&nbsp;&nbsp;December 15, 2022 | The Company's ESG and green finance management framework and *the Regulations of Environmental, Social and Governance and Green Finance Management* were deliberated. |

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This report provides detailed information on the progress and effectiveness of China Life's ESG efforts in 2022 and was deliberated and adopted by the Board of Directors on March 29, 2023.

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**1. Engine of China Life** 

China Life thoroughly implements the CPC Central Committee's decisions and arrangements for promoting green development. In accordance with the *Guidelines on Green Finance for the Banking and Insurance Industries* issued by the China Banking and Insurance Regulatory Commission, the Company is advancing its green finance initiatives. With a robust green financial strategic deployment, a responsible investment approach, and an environmentally-friendly low-carbon business model, China Life is well-positioned for continued sustainable growth.

**1.1 Practicing Green Finance** 

In 2022, China Life facilitated economic activities that brought positive impacts to both the environment and society. To further our commitment to sustainability, we developed a *Green Finance Development Strategy (2023—2025)*. This strategy outlines the development goals and priorities in the Company's green finance initiatives, peaking carbon emissions and ultimately achieving carbon neutrality in a systematic manner.

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;China Life's overall goal of green finance | We will adhere to the new development philosophy that advocates innovation, coordination, green, openness, and collaboration in fulfilling the CPC Central Committee's strategic arrangements for carbon peaking and carbon neutrality. We aim to establish a sound model for green development and comprehensively and systematically integrate the concept of green development into all aspects of our operations and management. As a leader in green finance, we will build a green financial system with China Life's characteristics that contribute to social sustainability. |

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**China's Life's priorities in green finance** 

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|:---|
| &nbsp;&nbsp; 1. Build a governance system for green finance<br>Adhere to the green financial development philosophy, fulfill the requirements of green development, and integrate the concept of green development into corporate governance, business development, risk management, corporate culture, and information disclosure;<br>Pursue a business model that balances self-growth and social responsibility and create a green financial system with China Life's characteristics.<br>|
| &nbsp;&nbsp; 2. Enhance the innovation and supply capacity for green insurance products and services<br>Continuously monitor the impact of ESG factors on the industry and timely introduce products as needed by regulators, market environment, and business requirements;<br>Improve the availability of green insurance services and improve the capacity and quality of green financial services;<br>Ensure the steady growth of the premium scale and coverage of major green insurance products.<br>|

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| |
|:---|
| &nbsp;&nbsp; 3. Practice the green investment philosophy<br>Continue to improve the ESG/green investment system and enhance green investment capabilities;<br>Incorporate green investment considerations throughout the asset allocation process and expand investment strategies;<br>Maintain the steady growth of green investment stocks and reduce the carbon intensity of the asset portfolio in a progressive with the ultimate goal of achieving a carbon-neutral investment portfolio.<br>|
| &nbsp;&nbsp; 4. Insist on green operations<br>Integrate the low-carbon concept into all aspects of the Company's operations and achieve the overall environmental goal "to ensure eco-friendly operations and contribute to the achievement of carbon neutrality" through green sales, green operations, green offices, green procurement, and green living;<br>Continue to promote the Company's online, intensive, and intelligent operation services.<br>|
| &nbsp;&nbsp; 5. Comprehensively improve green financial performance in all aspects<br>Adhering to the ESG strategic goal of "building a world-class and responsible life insurance company," internalize the concept of green development into the whole process and areas of the Company's high-quality development;<br>Improve the green financial system and internal control management for the Company to achieve superior green financial performance and top ESG ratings within the Chinese insurance industry. |

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To support the development of green industries, we have expanded our insurance services to better serve customers in the green sector. We have progressed in the development of a green insurance intelligent reporting system, which helps us monitor the performance of our green insurance operations and improve our overall sustainability capabilities. To incentivize our branches to serve customers in green industries, we have intensified our green insurance assessments and made green insurance a key metric in evaluating our operations and corporate responsibility. We have increased our efforts to attract customers in green industries. Additionally, we have enriched our insurance product portfolio and launched preferential rates. We provide a personal insurance package that includes accident, medical, and life insurance for upstream and downstream enterprises in the green industry chain according to customer needs. In 2022, China Life has provided a total of RMB 417.81 billion in insured amounts.

**1.2 Sticking to Responsible Investment** 

China Life thoroughly practice the concepts of responsible investment and green finance. We have enhanced our responsible investment management system and incorporated ESG into the investment analysis and decision-making process to drive the transformation of our investment and financing structures toward sustainability. We have defined the major objectives, use of funds, and implementation paths of key green investment segments in entrusted investment guidelines and intensified the assessment of managers' progress in green investment. We have enriched and improved our portfolio of green investment strategies and promoted the establishment of market-oriented ESG green financial entrustment portfolios. As of December 31, 2022, our cumulative green investment in stock exceeded RMB 430 billion.

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China Life Asset Management Company Limited (CLAMC) is our primary investment platform, committed to "serving national strategies, the real economy, and society and people's livelihood." CLAMC has developed the *ESG/Green Investment Basic Guiding Rules of China Life Asset Management Company Limited (for Trial Implementation)*, which set green investment as the central focus of business development and fully integrate it into the Company's plan for the 14th Five-Year Plan. CLAMC is taking comprehensive steps to enhance its responsible investment performance, including ESG evaluations, investment infrastructure, talent, external exchanges and cooperation, and internal project expansion. As of December 31, 2022, the stock of green bonds entrusted with CLAMC's accounts exceeded RMB 230 billion.

**Responsible investment performance of CLAMC, China Life's major investment platform** 

Incorporating ESG assessments into the investment process

CLAMC fully recognizes the importance of ESG assessments in the investment process. It has refined its green investment lists and incorporated ESG assessments into the decision-making process of bond, equity, and fixed income investment projects. This helps guide companies we invested to understand the investment requirements of the positive and negative lists and to promote improvements in their environmental performance and disclosure through the exercise of our investor rights.

Seeking exchanges and collaboration with other organizations

Since joining the United Nations Principles for Responsible Investment (UN PRI) and other international organizations, CLAMC has been exploring investment opportunities in ESG. It is looking for ways to integrate ESG topics with the Company's business and to fully boost the sustainable and healthy development of the green financial industry.

Facilitate the implementation of green investment projects

In 2022, CLAMC coordinated economic, social, and environmental benefits in China Life's Reform and Development Equity Investment Scheme (Phase I) for State-Owned Enterprises in Yunnan, China Life's CNNC No. 1 Equity Investment Scheme, and other projects. Additionally, CLAMC published industry ESG indices to provide references for investors to grasp ESG investment concepts and standards.

Focusing on ESG investment infrastructure

CLAMC has established an industry-leading ESG evaluation scheme that features ESG ratings and continuously improved it by refining its ESG rating policies, data, models, talent, and systems. Based on the scheme, CLAMC conducts intensive ESG evaluations. It has more than 2,200 evaluation objects from different industries, which are highly representative, differentiated, and scalable. At present, CLAMC's ESG ratings are conducted on a regular basis with a regular and irregular tracking and review mechanism, which favors continuous optimization and further deepening of the application.

Special emphasis on investment talent

CLAMC has an ESG Rating Department, staffed by employees who specialize in ESG ratings through assessments, reviews, and evaluations, to preliminarily established a professional ESG rating team. In 2022, CLAMC strengthened the talent teams for strategic research and judgment, investment, product design, and risk management. In addition to training the investment research team, CLAMC collaborates with several industry-leading institutions to exchange share insights on ESG and best practices in the industry to better implement the overall ESG investment approach and masterthe growing trend of ESG investment.

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**China Life's major green investment projects in 2022** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Project** | **Description** |
| &nbsp;&nbsp;&nbsp;Reform and Development Equity Investment Scheme (Phase I) for State-Owned Enterprises in Yunnan | In the Reform and Development Equity Investment Scheme (Phase I) for State-Owned Enterprises in Yunnan, China Life invested RMB 9 billion as equity investment in Yunnan Dianzhong Water Diversion Project Co., Ltd. to promote the dual cycle of green finance and ecological civilization construction. |
| &nbsp;&nbsp;&nbsp;CNNC No. 1 Equity Investment Scheme | In the CNNC No. 1 Equity Investment Scheme, China Life invested RMB 2.053 billion and became the largest strategic investor and second largest shareholder of CNNP Rich Energy, the core platform of China National Nuclear Corporation (CNNC) for new energy development, construction, and operation, as a way to contribute to China's carbon peaking and carbon neutrality strategy. |
| &nbsp;&nbsp;&nbsp;Xinyuan No. 1 Equity Investment Scheme | In the Xinyuan No. 1 Equity Investment Scheme, China Life signed a partnership contract with an entity of China Energy Investment Corporation for joint investment in wind, photovoltaic, and other clean energy projects. This project, which supported the transition of China's energy structure and green development, was reported as a case in the *2021 Practice Report on Green Finance of the Asian Financial Cooperation Association*<sup>2</sup>. |
| &nbsp;&nbsp;&nbsp;Yunnan Energy Investment Project | In the Yunnan Energy Investment Project, China Life invested RMB 900 million to support Yunnan Provincial Energy Investment Group Co., Ltd. (Yunnan Energy Investment). The funds were used to serve infrastructure construction in Yunnan, support Yunnan Energy Investment to boost the green energy industry, and increase investment in new energy and other areas. |
| &nbsp;&nbsp;&nbsp;Debt Investment Scheme for Urumqi Municipal Integrated Pipeline Infrastructure | In the Debt Investment Scheme for Urumqi Municipal Integrated Pipeline Infrastructure, China Life invested RMB 1,000 million in the underground integrated pipeline in Urumqi. The purpose was to progress infrastructure construction in Urumqi, the core node of the Silk Road Economic Belt and improve its capacity and performance of public services provision. |
| &nbsp;&nbsp;&nbsp;Funding in the ESG Green Financial Portfolio | China Life funded a RMB 1.5 billion ESG green financial portfolio. It set ESG and green finance-related investment targets, investment scope, and risk control in the investment guideline to guide the investment portfolio to stocks and bonds in line with "value investment, green investment, and responsible investment" in secondary-market transactions. By appointing and setting market-oriented entrusted investment portfolios, the Company became one of the first institutional investors to launch entrusted ESG investment. |

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<sup>2</sup> The Company launched CLAMC's Xinyuan No. 1 Equity Investment Scheme in 2021, which had a contract scale of RMB 1.5 billion, and the funding started in 2022.

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**1.3 Promoting Low-carbon Operations** 

In our active response to the state's strategic goals of carbon peaking and carbon neutrality, we comprehensively and systematically integrate the concept of green development into the Company's every aspect of operation and management processes and create new patterns for low-carbon development. *China Life's Solution for Focusing on the Goals of Carbon Peaking and Carbon Neutrality and Boosting Green Development* won the second prize of Carbon Peaking and Carbon Neutrality Cases 2022. We are proud to be the only life insurance company to receive this prestigious award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **China Life's Environmental Goals:**<br>To ensure eco-friendly operations and contribute to the achievement of carbon neutrality.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Energy conservation and better resource efficiency;<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Low-carbon investment and serving the green finance;<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Digital administration and championing a low-carbon lifestyle.<br>

**1.3.1 Energy Conservation and Consumption Reduction** 

As a financial service institution, China Life's main business activities have a limited impact on the ecological environment and natural resources. In 2022, the Company intensified our environmental management efforts and implemented multiple measures to meet our environmental goals.

The Company strictly observe the *Environmental Protection Law of the People's Republic of China*, the *Law on Energy Conservation of the People's Republic of China*, and other applicable laws and regulations. We have *Interim Measures for Energy Conservation and Emission Reduction*, *Fix Asset Management Regulations*, and *Vehicle Management Regulations* in place to manage resource use and energy consumption.

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| &nbsp;&nbsp;&nbsp;**Category** | **Targets and Measures** |
| &nbsp;&nbsp;&nbsp;Greenhouse Gases (GHG) | • Launching a wide range of energy conservation and emission reduction initiatives to reduce Scope 1<sup>3</sup> and Scope 2<sup>4</sup> carbon emissions generated in the operation process:<br>1) Breaking down energy management and keeping a ledger to strengthen energy consumption monitoring;<br>2) Ensuring fixed asset allocation and management meets relevant environmental protection requirements and prioritizing the procurement of environmentally-friendly and energy-saving products;<br>3) Promoting an automatic control system in buildings to minimize energy consumption under the premise of ensuring normal work in the office;<br>4) Increasing the proportion of new energy vehicles in the whole system and phasing out traditional fuel vehicles with poor energy consumption performance;<br>5) Increasing efforts in building green data centers, renovating and optimizing existing data centers according to actual production needs, and applying new technologies such as micro-modules in new data centers to improve energy efficiency;<br>6) Reducing the purchase of traditionally-generated electricity and increasing the share of clean and new energy sources, such as wind, solar power, and hydroelectric power, in power generation.<br>• Establishing green offices and increasing promotion and guidance for a green lifestyle to reduce Scope 3<sup>5</sup> carbon emissions:<br>1) Handling business on electronic devices and accelerating the development of digital and intelligent services;<br>2) Increasing the promotion and enhancing employees' awareness of the low-carbon lifestyle and encouraging them to adopt such lifestyle through a wide range of promotion campaigns;<br>3) Increasing the application of online office devices and reducing carbon emissions from employees' business travel and commuting.<br>• Based on market demands, increasing green finance and green investment and green finance products to support the development of green industries. |
| &nbsp;&nbsp;&nbsp;Water | • Enhancing employees' awareness of water conservation, recycling and reusing water, installing water-saving appliances, increasing inspections of water consumption equipment to prevent water waste due to leaks. |
| &nbsp;&nbsp;&nbsp;Waste | • Recycling hazardous waste for harmless disposal and reducing non-hazardous waste:<br>1) Hazardous waste: intensifying the recycling and reuse of electronic products and delivering hazardous waste to designated agencies for recycling.<br>2) Non-hazardous waste: encouraging employees to save food and avoid waste, raising their awareness about resource conservation, reducing food waste, kitchen waste, and office waste. |

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<sup>3</sup> Scope 1 refers to direct GHG emissions generated by the Company due to the use of fossil fuels for combustion, production, or transportation.

<sup>4</sup> Scope 2 refers to indirect GHG emissions generated by the Company due to the use of purchased energy (purchased power or steam).

<sup>5</sup> Scope 3 refers to the GHG emissions indirectly generated by the Company and beyond business control. It primarily includes indirect GHG emissions generated during employees' commuting and business trips.

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**Highlights for China Life in Energy Conservation and Consumption Reduction in 2022** 

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| &nbsp;&nbsp;&nbsp;Green Sales | The Company created an efficient and user-friendly online signing platform, and provided intensive training for our salespeople to ensure its effective use. This platform enables quick access and paperless signing of contracts for different sales teams. The Company performed electronic management of sales teams and built e-archives for them, allowing for easy visualization of any changes to their information. |
| &nbsp;&nbsp;&nbsp;Green Operations | The Company has made significant efforts to advance its digital transformation and built an integrated internet setting. It has established the China Life Hybrid Cloud and China Life IoT Technology Clusters to support cost reduction, efficiency enhancement, and green and low-carbon operations. Its use of artificial intelligence extends to product R&D, financial payment, operational services, and many other processes. It has moved policy maintenance, claims, notification, and financial payment online, resulting in significant improvements in operational efficiency and risk prevention. In 2022:<br>In terms of new policies, the Company achieved a 99.99% paperless insurance application rate for personal long-term insurance businesses, issued 1.627 million electronic insurance policies for long-term insurance, and achieved a 94.12% intelligent underwriting rate and a 96% electronic follow-up rate for new policies. These efforts saved over 4,299 metric tons of paper in long-term insurance applications in one year.<br>In terms of policy maintenance, the Company created the industry's first intelligent policy service chain, which features "99% self-service + 1% remote interactive processing = 100% online processing." The Company achieved a 92.79% self-service rate for online policy maintenance, saving 1,333.73 metric tons of paper.<br>In terms of claim settlement, over 90% of the Company's settlements were completed online, saving over 100 metric tons of paper.<br>In terms of notification, the Company received 28.79 million e-notification from clients, replacing paper authorization letters and reducing approximately 35.05 million paper letters per year or about 700 metric tons of paper per year.<br>The Company has launched energy-saving management and transformation of office space initiatives to reduce carbon emissions.<br>The Company replaced the fillers of the four air-conditioning cooling towers in the headquarters building, reduced the operating hours of building self-control, strictly controlled the operating hours of central air-conditioning, and replaced high-energy-consuming light sources on some floors.<br>The Guangdong Huizhou Branch has set up a building control system in the office area that automatically turns on and off the power supply of the corresponding lighting lines at regular intervals to ensure the lights are switched off when no one is around. This initiative resulted in a year-on-year saving of 19,936 kWh in commercial electricity consumption.<br>The Jiangsu Branch replaced and upgraded its elevators, resulting in reduced energy consumption and maintenance costs, and a 30% increase in operational efficiency. |

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| &nbsp;&nbsp;&nbsp;Digital Offices | The Company's conference management system enables users to browse conference materials online. Users can access electronic conference materials on the internet and mobile terminals, which efficiently promoted green offices. The Company relied on the videoconferencing system to facilitate mobile offices and connect with third-party video link platforms for internal and external conferences. In the year, a 72+1 split-screen display was used for the first time to display more than 200 video terminals of the Company's entire system in attending a conference in groups.<br>In 2022, 338 thousand mobile paperless conferences were held on the conference management system. |
| &nbsp;&nbsp;&nbsp;Green Data Centers | As per the national guidelines for the construction of green data centers, practicing intensive and circular development featuring high efficiency and low-carbon, the Company improved its technology and management, enhanced its green data centers, and transformed and upgrade its equipment for energy efficiency. As a result of these efforts, China Life's data centers are now at an industry-leading position in energy consumption performance. Our Shanghai Data Center was recognized as the National Green Data Center in 2020. |

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**1.3.2 Responding to Climate Change** 

China Life is fully committed to implementing the strategic arrangements for carbon peaking and carbon neutrality and conducting comprehensive climate risk evaluation and management based on recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) of the Financial Stability Board (FSB). In 2022, the Company continued to improve our climate change response system by enhancing our management and identifying opportunities in areas such as governance, strategy, risk identification, indices, and targets. We completed the Company's annual climate change evaluation and drafted countermeasures for the next stage related to our products, operations, and investments.

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| &nbsp;&nbsp;&nbsp;**Risk Type** | **Climate**<br> **Risk**<br> **Factor** | **Risk Classification** | **Risk Description** | **Countermeasures to Risks** |
| &nbsp;&nbsp;&nbsp;Physical Risks | Acute Physical Risks and Chronic Physical Risks | Product | Extreme weather caused by climate change can have a significant impact on human disease, morbidity, mortality, and accidental injury rates. Rising temperatures and extreme weather events pose a threat to human life and health over the long term. If the Company fails to pay attention to climate change, its product R&D will face an adverse impact. | The Company recognizes the potential adverse impact of climate change and extreme weather on human life and health. It conducts data monitoring, tracks the revision and update of experience incidence data in the insurance industry, evaluates the risk of changes in incidence rates and the feasibility of risk transfer via reinsurance. |
| &nbsp;&nbsp;&nbsp;Physical Risks | Acute Physical Risks | Operations | Extreme weather can have a significant impact on the offices and data centers where the Company operates. Rising sea levels and urban waterlogging can cause chain reactions that may impact the Company's assets. Additionally, power outages caused by extreme weather can interrupt the operation of our data centers, affecting our information security and customer service. | The Company fully considers geographic and climate risks when choosing its office locations and ensures that its business can be operated remotely to avoid the risk of halted operation in case the working place becomes unusable. It continuously improves the disaster recovery capability of its data centers. Based on existing facilities, it constructs multi-active data centers in different places and continues to enhance disaster resistance of data centers, ensuring business continuity, and reducing the risk of losses of corporate data and information. |
| &nbsp;&nbsp;&nbsp;Physical Risks | Chronic Physical Risks | Investment | Climate change can potentially impact the Company's portfolio returns and cause financial losses for its investment products and business. | The Company monitors national policies and regulatory requirements in relation to climate change and implements relevant initiatives. It makes rational plans for investment directions and considers integrating ESG factors into investment strategies. Additionally, it accelerates green investment and concentrates its investment portfolio on low-carbon, clean energy, and ESG-performing investment targets. |

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|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Transition Risks | Law and Policy | Product and Investment | Climate change-related insurance and investment policies are undergoing adjustments. If the Company fails to follow the industry trend and develop green insurance, it will not be able to adapt to the national development requirements. | The Company implements national policies and follows up on the progress of the industry. It develops green insurance products, optimizes the proportion of green and low-carbon investment and investment in carbon-intensive industries, and makes science-based and rational investment strategies. |
| &nbsp;&nbsp;&nbsp;Transition Risks | Science and Technology | Operations | The state's strategic arrangements for carbon peaking and carbon neutrality place significant demands on the Company's energy consumption performance. The Company should balance business development, energy conservation, and consumption reduction to contribute to the state's vision of carbon peaking and carbon neutrality. | The Company is intensifying its efforts in the digital transition and building an online integrated service setting. It launches energy-efficiency transformation initiatives, and increases the use of online devices and management systems to save more energy consumption. |
| &nbsp;&nbsp;&nbsp;Transition Risks | Market and Reputation | Product and Operations | Customers and the market are increasingly focused on the Company's performance in tackling climate change. Investors and stakeholders have higher expectations for the Company's climate action. A lack of responses in this area could result in reputation risks, causing the loss of potential customers and compromising stakeholders and investors' relevant decision-making. | The Company closely monitors industry changes and market trends and grasps the joint of its business and climate change. It actively responds to national policies and enriches product supplies according to regulatory requirements. By addressing climate change, it establishes and maintains brand assets and trusts with stakeholders. By timely disclosing corporate ESG progress, it installs an image of a responsible brand. |

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In 2022, China Life fully identified opportunities arising from climate change and incorporated them into our day-to-day management.

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|:---|:---|
| &nbsp;&nbsp;&nbsp;Product | The Company optimized and enriched product varieties; improved customer service; created a positive image by advertising for our public benefits; and enhanced all employees' low-carbon awareness. |
| &nbsp;&nbsp;&nbsp;Operations | The Company accelerated digital transition under the framework of relevant national policies and laws; launched energy efficiency renovations and equipment upgrades at our operation sites; continued to promote paperless office work; and encouraged employees to practice a low-carbon lifestyle. The Company established a positive reputation by implementing national policies. We hosted and participated in public welfare campaigns related to climate change, mitigating climate change with practical actions. |
| &nbsp;&nbsp;&nbsp;Investment | The Company increased green investment to contribute to the national actions to climate change responses, the goals of carbon peaking and carbon neutrality, and low-carbon and sustainable development. We participated in investing in green areas and continued to increase investment in green industries such as clean energy, energy conservation, environmental protection, and pollution prevention and control. The Company optimized and adjusted our investment strategies and strengthened our cooperation with relevant departments and institutions to jointly promote green investment and ecological construction. |

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**2. Efforts of China Life** 

China Life guided by national strategies and remain committed to promoting enterprise development through practical work. This includes continuous upgrades to our services using intelligent technologies, the launch of diverse products and services, and a strong focus on improving the customer service quality. As we strive to meet the evolving needs of our customers and contribute to the development of China, we're always mindful of the best interests of the nation.

**2.1 Converging Multiple Products** 

China Life has actively responded to the state's call for innovation by strengthening its product and service offerings based on local needs. Our commitment to meeting the diverse insurance needs of our customers through a range of professional and diversified products and services underscores our desire to contribute to the overall development of the country and improve people's quality of life. In 2022, we launched 84 new products and made changes to 4 existing ones.

**2.1.1 Building a system of inclusive insurance products** 

China Life is committed to developing inclusive insurance products that address diverse needs, including critical illness insurance, long-term care insurance, city-specific commercial medical insurance, tax-deductible health insurance, tax-deferred endowment insurance, and special commercial endowment insurance. We also offer affordable health and accident insurance with broad coverage to provide our customers with a comprehensive range of inclusive insurance options.

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|:---|:---|
| &nbsp;&nbsp;&nbsp;Critical illness insurance | • As of December 31, 2022, China Life has undertaken over 200 critical illness insurance projects, providing coverage to nearly 350 million urban and rural residents. In 2022, the critical illness insurance paid out over 18 million claims, with the total amount exceeding RMB 25 billion. |
| &nbsp;&nbsp;&nbsp;Long-term care insurance | • As of December 31, 2022, nearly 60 long-term care insurance projects have been undertaken, covering more than 27 million people. |
| &nbsp;&nbsp;&nbsp;City-specific commercial medical insurance | • As of December 31, 2022, China Life has also successfully launched more than 100 city-specific commercial medical insurance projects, with 50 of these being new projects launched in 2022. The cumulative number of insured individuals for these projects exceeded 22 million. |

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China Life has developed a comprehensive range of inclusive insurance products and services, with a focus on increasing protection for specific risk groups such as the elderly, women, children, and new urban residents.

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|:---|:---|
| &nbsp;&nbsp;&nbsp;Student and child insurance | China Life has upgraded two comprehensive accident insurance products and developed four new ones to expand the coverage content and scope of students' medical insurance. As of December 31, 2022, China Life insured near 90 million person-time students with total insurance coverage of RMB 28.5 trillion. |
| &nbsp;&nbsp;&nbsp;Women's insurance | The liability design and disease range of current women's disease group insurance products have been upgraded to improve the flexibility of disease coverage and insurance liability combination.<br>As of December 31, 2022, China Life insured more than 9.55 million person-time specific women groups with total insurance coverage of RMB 1.26 trillion. |

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|:---|:---|
| &nbsp;&nbsp;&nbsp;Family planning insurance | China Life provides insurance protection for families, pregnant women, newborns, and other groups that meet the requirements of the national family planning policy. The Company is committed to driving sustained and sound development in the family planning insurance business, striving to earn the government's confidence and the people's satisfaction.<br>As of December 31, 2022, China Life insured more than 30 million person-time that comply with family planning regulations with total insurance coverage of RMB 1.79 trillion. |
| &nbsp;&nbsp;&nbsp;Old age insurance | China Life has upgraded a health insurance product for the elderly, providing disease insurance coverage for diseases that are with high incidence among the elderly, including malignant tumors in specific parts serious and severe primary Parkinson's disease and severe chronic renal failure.<br>The Company has developed the "Zunyi Rensheng" product portfolio, adopting the design mode of main insurance (annuity) + additional care insurance. This product portfolio provides annuity, survival benefits, care for specific diseases and accidental injuries and disabilities to meet the needs of customers for pension and nursing care. Two accident insurance products for the elderly, namely "China Life Xiyanghong Specific Accident Insurance (A)" and "China Life Yin Ling An Kang Comprehensive Accident Insurance (A)", were upgraded to fully protect the elderly.<br>As of December 31, 2022, China Life has provided accident insurance coverage for approximately 54.95 million policyholders, with a total insurance coverage exceeding RMB 3.0 trillion. |
| &nbsp;&nbsp;&nbsp;New urban resident insurance | In view of the increasing number of migrants and the increasing demand for social security brought about by urbanization, the Company launched new urban resident insurance.<br>Two accident insurance products targeting accidents in construction projects, including the "China Life Construction Projects Group Accident Insurance (C), have been created to cater to the specific risks of construction workers and engineering project managers. "China Life New Business Group Accident Insurance" has been developed to provide basic accident insurance coverage for food delivery riders and ride-share drivers while also providing specific insurance protection for riding accidents, motor vehicle accidents, fractures, and sudden death. Additionally, two medical insurance products, including the "China Life New Business Group Accident Expense Compensation Medical Insurance (A)", have been developed to offer targeted medical insurance coverage.<br>"China Life Migrant Worker Group Comprehensive Accident Insurance" has been designed to provide insurance liabilities, such as accidental death, accidental medical treatment, and hospitalization benefits, for rural and urban migrant workers.<br>The Company has also been actively carrying out a pilot project of occupational injury protection for employees with new employment forms and has successfully won bids for four provincial projects in Beijing, Jiangsu, Sichuan, and Guangdong. |

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> **Case: China Life launches its first individual pension product**<br>On November 23, 2022, China Insurance IT Management Co., Ltd. announced the first batch of individual pension insurance products, which included China Life's first individual pension product, "China Life Xinxiangbao Special Commercial Endowment Insurance (Individual Pension)". This product offers five key features, including stability and transparency, broad coverage, flexible payment, easy operation and attentive customer service, and tax deferral benefits, helping individuals provide for their elderly years. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> **Case: China Life supports micro, small and medium-sized enterprise development**<br>In 2022, China Life launched "Yuan Fu Bao", a customized accident insurance portfolio product designed to support the development of micro, small, and medium-sized enterprises. To streamline the insurance purchase process, the company introduced an innovative online policy issuance model that is fast and efficient. This model includes automatic insertion of historical insurance information and OCR technology, simplifying the insurance purchase operation. Additionally, the model allows for seamless switches between PC and mobile phone, supporting authorization application and batch import of lists of the insured from both platforms to meet different business requirements. |

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**2.1.2 Building an online life insurance product system** 

To meet the needs of online customers, China Life has developed four online life insurance products: "China Life Shouhu Xing Accident Insurance (Online)", "China Life Shouhu Xing Comprehensive Accident Insurance (Online)", "China Life Zhuoyue Qiancheng Children Annuity Insurance (Oneline)", and "China Life Fuxiang Yisheng Pension Annuity Insurance (Online)".

By leveraging the advantages of the internet, such as fast access, wide coverage, and high efficiency, and adhering to the concepts of digitalization, intelligence, and sharing, China Life has launched the "Guo Xi Bao China Life Insurance Mall", which integrates products, services, and content, and is available on the China Life Insurance App, official WeChat account, and WeChat mini-program. A new online direct sales model has thus been established, featuring a one-stop-shop for insurance products, matrix serving, thousands of contact points and all-platform linking. The mall provides more options for users to purchase China Life's insurance products.

&nbsp;&nbsp;&nbsp; **Case: China Life launches "Man Man Ying Annuity Insurance"**<br>In October 2022, China Life has opened its official service hall on Ant Insurance, an online insurance mall, and introduced the "Man Man Ying Annuity Insurance" product, which marks the Company's first online life insurance product developed in partnership with Ant Insurance. This product offers stable old-age security and convenient financial insurance services to customers.<br>

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&nbsp;&nbsp;&nbsp; ![LOGO](g480514g0329152533799.jpg)

**2.2 Deepening Scientific and Technological Innovation** 

China Life is committed to promoting scientific and technological innovation, accelerating its digital transformation while strictly safeguarding information security and user privacy. The Company also strengthens its intellectual property management and protection, bolstering its efforts to advance the digital economy by contributing China Life's share of wisdom.

**2.2.1 Strengthening China Life's technological capabilities** 

China Life has seized the opportunity presented by the digital economy and has followed the trend of mobile internet development. Guided by a new development concept and a strategic vision that emphasizes "persistent execution of a blueprint", the Company has been promoting the strategy of strengthening China Life's technological capabilities. Our digital insurance ecosystem enables us to "leapfrog from a mere online presence to intelligent China Life and now to digital China Life". We continue to focus on building our scientific and technological competencies while staying true to the distinctive characteristics that have established China Life as a prominent leader in the insurance industry.

***Planning ahead to create a new layout of mobile internet with China Life's characteristics***

China Life is building a hybrid cloud with powerful computing power. The Company has proactively responded to the nation's call to accelerate the development of new infrastructure such as 5G networks and data centers. By establishing a private cloud with multiple sites in the three centers and two locations of Beijing and Shanghai, China Life has seamlessly connected to public cloud resources, leading the industry in building the first safe, green, and elastic hybrid cloud, enabling an elastic supply of resources and smooth deployment. The Covid-19 pandemic highlighted the advantages of this approach, including elasticity, convenience, safety, reliability, and uninterrupted operation, which enabled the Company to quickly respond to challenges brought by the explosive growth of internet application, including mobile working, remote collaboration, and online sales. The Company's distributed hybrid cloud was awarded the special prize of the Financial Innovation Achievement Award by the Second Capital Financial Innovation Incentive Project.

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China Life is also building a ubiquitous and interconnected Internet of Things. By integrating cloud computing and edge computing technologies, the Company builds an interconnected environment with full coverage. This efficient and flat mobile interconnection network extends to management institutions and grassroots outlets at all levels. The Company deploys intelligent hardware devices which are adapted to multi-scenarios and connected to a wireless network, achieving centralized management and control of 0.24 million electronic devices in 12 categories nationwide. The company has also established an online digital twin space that mirrors the offline workplace. This has enabled a smooth supply of company resources to the workplace and provided direct access to information, effectively solving the "last kilometer" problem of insurance services.

***Deepening expansion to consolidate the cornerstone of digital transformation through architectural innovation***

China Life is empowering science and technology through a focus on digital-driven innovation and integration. The Company has taken significant strides to enhance its all-round science and technology empowerment, including the establishment of a science and technology application innovation incubation center and an R&D sub-center. By innovatively constructing an intelligent panoramic view of family insurance and expanding its science and technology supply across various dimensions, China Life is advancing the integration of science and technology businesses. This approach is empowering the entire insurance value chain, allowing the Company to provide customers with convenient, efficient, and accurate financial and insurance services.

China Life is innovating its architecture to achieve standardization, safety, autonomy, and controllability. To this end, China Life leverages its hybrid cloud and open layered architecture to efficiently promote the innovation of information technology applications. The Company promotes comprehensive architectural innovation and realizes the integration of various technologies. It flexibly supplies financial and insurance professional business capabilities as well as general technical capabilities such as artificial intelligence and real-time computing. This enables real-time data processing and convenient service delivery, fully enhancing the core strength of science and technology, and providing best practices for scientific and technological innovation in the financial industry.

China Life is committed to creating an open and shared digital ecosystem. The Company has developed an insurance digital platform (EAC) with China Life's characteristics, integrating online digital services with offline digital workplaces. This platform provides a variety of services that cover the entire value chain, including from sales, to transactions, management, risk control, and office collaborations. The platform also aggregates external resources and supports institutions and partners at all levels of the system to integrate scenarios, flexibly assemble resources, and extend the ecology, and realize a seamless connection among life, insurance, and services. This gradual establishment of a richer and more diversified insurance ecology leads to open, sharing and win-win results.

**China Life Science and Technology Innovation Measures in 2022** 

&nbsp;&nbsp;&nbsp; Promote the transformation of distributed architecture<br>The Company has undergone an all-round transformation of its core business systems to a distributed architecture, creating an open and compatible digital foundation with a brand-new proprietary distributed cloud architecture. This transformation has resulted in a 3-fold increase in unit space storage utilization and a 266% increase in unit space computing utilization, leading to significant cost reduction, efficiency improvement, and success in green and low-carbon initiatives. In 2022, in recognition of this achievement, the Company's distributed architecture transformation project was selected as one of the "TOP 30 Best Innovative Application Projects of China's Financial Digital Transformation in 2022" by the institution directly under the Ministry of Industry and Information Technology. The Company's information technology application innovation and construction achievements have ranked first in the industry for two consecutive years, maintaining its position as a leader in the industry.<br>

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| &nbsp;&nbsp;&nbsp; Strengthen data management<br>The Company recognizes data as a crucial element in its operations and established an enterprise-level data management system that covers multiple fields. Through enhanced data governance, improved institutional mechanisms, integrated data in business operations, and activation of data value, the Company has achieved an optimized level of Data Management Capability Maturity Assessment Model (DCMM) at Level (Level 5). |
| &nbsp;&nbsp;&nbsp; Carry out digital risk prevention and control<br>The Company has built an internal intelligent risk control system, using knowledge map and graph mining technologies to combat fraud and money laundering. The system has achieved intelligent risk identification for illegal fundraising and has filled the gap in the application of artificial intelligence technology in the insurance industry's anti-money laundering field.<br>Furthermore, the Company has carried out big data monitoring and intelligent analysis based on user behaviors. This approach enables the identification of abnormal login activities and the detection of unusual user behaviors, resulting in timely resolutions of potential security risks. In 2022, the Company accurately issued an average of 1.10 million real-time safety notifications to users daily. |
| &nbsp;&nbsp;&nbsp; Improve the digital operation capabilities of science and technology<br>The Company has established an integrated production and operation mechanism, with the enterprise digital operation and production command hub (ECC) at its core. This mechanism provides a real-time, comprehensive display of the enterprise's business status, enabling the timely identification and resolution of various issues. The mechanism also ensures accurate feedback to the sales, service, and operation sides, continuously improving the Company's digital operational capabilities. In recognition of its efforts, the ECC construction project of the Company was awarded the Outstanding Contribution Award for Digital Transformation of Financial Industry at the 2022 China Financial Technology Annual Conference and the 13th Financial Technology Application Innovation Award Ceremony. |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Case: China life achieves the first-ever highest level of Data Management Capability Maturity Assessment (Level 5) model in the industry**<br>In 2022, China Life successfully integrated the advanced theory of the Data Management Capability Maturity Assessment Model (DCMM), the first national standard in the field of data management, with its own practices. By implementing the DCMM mechanisms, the Company improved its operations in eight major areas, comprehensively optimized the data management system, and became the first insurance company to achieve the highest level (Level 5) of the Data Management Capability Maturity Assessment Model. This achievement demonstrates the company's leadership in the industry.<br>![LOGO](g480514g0329152533940.jpg) <br>**Data Management Capability Maturity Assessment Model Level Certificate**<br>

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**2.2.2 Information security and privacy protection** 

China Life places great importance on ensuring the security and privacy of its users' data. The Company has implemented various measures to continuously strengthen its network security protection capabilities including optimizing its accurate prevention and control system and deepening its normal working mechanism. These measures have been implemented to ensure the compliance, confidentiality, integrity, and availability of information. To ensure the safe and stable operation of its various technological products, China Life continuously improves its information security management system and conducts a comprehensive internal information technology audit every two years, issuing relevant risk warnings. Additionally, the Company continues to carry out information security management system certification. In 2022, it conducted information system security certification for all businesses, and continuously obtained ISO 27001 information security management system certification and information security service qualification. There were no major information security incidents in China Life in 2022.

![LOGO](g480514g88m03.jpg)

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**Responsibilities of all levels of the information security management system in China Life** 

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| &nbsp;&nbsp;&nbsp;**Decision-making** | President's Office | The president's office is the highest decision-making organization for information security work. |
|  | Cyber Security and IT Application Commission | The commission is responsible for studying and formulating the medium and long-term development strategy of the Company's information security and information application, reviewing the development plan of the Company's information security and information application, and major information security and information application issues. |
| &nbsp;&nbsp;&nbsp;**Management** | Professional committees | Technology Change Committee, Information Security Committee, Data Management Committee and External Expert Committee are set up to assist the Cyber Security and IT Application Commission. |
| &nbsp;&nbsp;&nbsp;**Execution** | Information Security Working Group | The working group is responsible for carrying out various information security tasks of the Company, ensuring the smooth implementation of information security tasks. |

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China Life always prioritizes the protection of privacy and upholds legal and ethical standards in information security management. The Company strictly adheres to the *Data Security Law of the People's Republic of China* and the *Personal Information Protection Law of the People's Republic of China*, continuously improving its internal information security management system. All of the Company's platforms, products, and services conform to the *User Information Authorization and Personal Information Protection Policy*<sup>6</sup>.

China Life upholds users' rights to independently access, correct, and process their personal information. The Company refrains from leasing, selling, or providing personal data to third parties without the prior written consent of users. All usage of user information is conducted in a transparent and reasonable manner, with the explicit consent of the user. When entrusting affiliated companies and third-party partners with user-related information, China Life ensures that they comply with the Company's information protection policies and other relevant confidentiality and security measures when necessary.

![LOGO](g480514g0329152534205.jpg) ![LOGO](g480514g0329152534080.jpg)

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<sup>6</sup> The *User Information Authorization and Personal Information Protection Policy* has been published online on June 16th, 2002. Please refer to: https: //www.e-chinalife.com/c/2022-06-16/526813.shtml

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**Information security certification** 

China Life has made continuous efforts to enhance its network security operations through the establishment of a normalized security operation system and network security management responsibility matrix with data assets at the core. The Company has improved the "three defensive lines" in information security management and technologies, forming a three-dimensional cybersecurity prevention and control system that features equal attention to technology and management, in-depth defense and continuous optimization, realizing global security management from the operating environment, technological products to people. In 2022, the Company created a list that covers 19 management fields, 92 work items, 134 work processes, and 191 security standards, which were strictly enforced to ensure network information security.

China Life's refined data classification and prevention and control measures are implemented at the field level to ensure information security. The Company has clarified data security requirements in the design principles of scientific and technological product architecture, with the scientific and technological product team responsible for ensuring data security throughout the product's research and development, testing, operation, and maintenance life cycle. Moreover, the Company centralizes the collection, storage, circulation, and use of all applications, software, and data inside the data center to minimize information security exposure. The Company requires that production data essential for work and other data needed for development and testing be approved and filed, with sensitive information filtered, thereby strengthening the Company's information security defense line.

***Technological Advances***

To continuously strengthen information security management and control, China Life has implemented the "big background and small front-end " technical layout. This approach involves implementing information security response and protection measures before, during, and after any security incidents. As a result, the Company has established an information security management mechanism featuring unified data management and the centralized storage, deployment, monitoring, and processing of data.

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| |
|:---|
| &nbsp;&nbsp;&nbsp; Before incidents<br>To strictly control the quality of technology products, the Company conducts quality inspections and security tests prior to product launch. This practice improves the safety and robustness of its technological products. Routine monitoring is also enhanced to ensure that any operating status of the technological products can be monitored and controlled, allowing for prompt detection and resolution of any exceptions. |
| &nbsp;&nbsp;&nbsp; During incidents<br>China Life activates an emergency response process and a coordinated response mechanism to ensure that relevant personnel can efficiently handle risks and prevent the spread of any potential information security risks. |

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After incidents After an incident occurs, China Life conducts a thorough evaluation of the cause, impact, and response to the exception. The Company promptly detects and rectifies any security vulnerabilities while continuously enhancing its information security management mechanisms.

To improve information security protection, the Company employs various technologies for security management throughout the entire data chain, including data transmission, front-end access, and data tracking. Access control, encryption, and de-identification technologies are applied to enhance data security. The Company also ensures back-end data operation and maintenance security by implementing unified authorization, authentication, accounts, and audit through unified identity management technology. Watermarking technology is utilized to prevent data leakage and tracking. Encryption and de-identification technologies are also implemented to provide secure access for remote working and business processing, thereby improving front-end data security. Customer-sensitive information is filtered, and virtual numbers are used in customer services and surveys to prevent data transmission leakage.

China Life integrates data protection measures into product and service development. The Company applies adaptive security, spoofing defense, and attack traceability systems to improve the defense-in-depth system. This transformation allows for active security and data-driven defense, shifting from asset-driven defense to more comprehensive security measures. The Company also built a situational awareness platform covering the entire network, which gradually achieved full coverage of security data for all sub-network within the network border enhancing threat awareness capabilities. The platform supports the second-level query of tens of billions of data and forms a closed-loop security operation of "threat prevention-threat detection-threat defense-threat response". The platform can also quickly understand domestic and overseas attack threat trends through threat intelligence and various technical means, and has the ability to warn and respond to major network security incidents. In 2022, the China Life Insurance App passed the mobile internet application (app) security certification and became the first app in the industry to obtain this certification.

***Strengthening Awareness***

China Life has comprehensively optimized its emergency plans for information systems, basic platforms, and basic environments, incorporating external technical resources such as network operators and service providers. The Company continuously trains its professionals in security countering abilities and strengthens its defense line of information security awareness through regular internal offensive and defensive drills and emergency plan drills. In 2022, the Company established an emergency response process covering 21 scenarios, organized 12 production environment safety inspections and penetration tests, and conducted one internal network security attack and defense exercise. These measures effectively improved the Company's network security protection capability.

China Life provides annual network security training to all employees to enhance their awareness of information security. In 2022, the Company provided online courses on information security for all employees and provided practical security awareness education through, information security behavior brochures, posters, and videos as well as simulated phishing. Additionally, the Company arranged full-time network security staff from the whole system to attend external professional training and obtain professional certification. The Company also regularly organized relevant personnel to participate in the training for registered information security professionals. China Life provided information security training to all relevant service personnel of third-party partners to strengthen their information security awareness, quality, and skills, effectively protecting customer information and privacy.

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**2.2.3 Intellectual property management** 

China Life attaches great importance to the management and maintenance of independent intellectual property rights, implementing strict regulations on their application and management. The Company adheres to the *Patent Law of the People's Republic of China*, the *Anti-Unfair Competition Law of the People's Republic of China*, the *Trademark Law of the People's Republic of China* and the *Copyright Law of the People's Republic of China*. It has also formulated the *Administrative Measures for the Protection of Intellectual Property Right* to continuously enhance the management of intellectual property rights, such as patents, copyrights, and trademarks. This strengthens the protection of property rights for insurance products and ensures that all innovations receive timely, comprehensive, and effective patent protection.

In 2022, China Life submitted a total of 24 intellectual property applications to China National Intellectual Property Administration, State Administration for Industry and Commerce, and Copyright Protection Center of China, including one application for invention, 14 applications for appearance, and 9 applications for software copyright registration. During the same year, China Life received 38 new intellectual property certificates, including 4 appearance patent certificates, 24 software copyright registration certificates, and 10 artwork copyright certificates.

&nbsp;&nbsp;&nbsp; **Case: China Life won the World's Most Innovative Knowledge Organization Award**<br>In April 2022, the list of winners of the World's Most Innovative Knowledge Organization Award was announced, which is sponsored by Teleos, an independent British research institution, and KNOW Network. China Life was named the winner of the 2021 World's Most Innovative Knowledge Organization Award and became the first Chinese insurance company to win the international knowledge management award.<br>![LOGO](g480514g0329152534346.jpg) <br>**World's Most Innovative Knowledge Organization Award**<br>

**2.3 Building Smart Services** 

China Life continues to implement the service concept of "honesty and trustworthiness, professionalism and efficiency, customer first and extraordinary experience" and builds a service brand of "simplicity, quality and warmth", centering on customers' needs and addressing their concerns to continually improve customer service quality.

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**2.3.1 Upgrading customer experience** 

China Life attaches importance to customer feedback and continually improves its closed-loop management mechanism by conducting pre-service evaluations and implementing a customer journey breakpoint prevention and control system to promptly address any customer experience issues. In 2022, a third-party customer survey showed that the company's overall customer satisfaction level remained high.

***Optimizing technological services for excellent customer experience***

To fully embraced scientific and technological intelligent services, China Life has upgraded its customer contact center's multi-service mode, which is SIP (self-service—intelligent—people), and implemented new technologies such as big data, intelligence, and cloud computing. The Company created multi-contact-point services, such as 95519, app, WeChat, and SMS, and improved services such as electronic return visits, electronic notifications, intelligent voice navigation, intelligent outbound calls, and intelligent online customer service robots. In 2022, the one-time problem-solving rate for 95519 telephone inbound services within 48 hours reached 89.1%, a year-on-year increase of 3.6%. The service satisfaction of 95519 reached a new high score of 98.77%. The proportion of electronic intelligent return visits for new policies exceeded 97.43%. E Xiaobao, an intelligent online customer service robot, provided intelligent and artificial online services for 35 service channels such as the app and WeChat, with an intelligent service replacement rate of 96.31% and an average daily guide service of about 170 thousand times.

**China Life's optimization measures on science and technology services in 2022** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Upgrade policy services in China Life Insurance App | We have enhanced the carrying capacity of various services, healthcare ecological services, and online activities of China Life Insurance App to create a full process of online policy services for customers. In 2022, the number of registered users of the China Life Insurance App reached about 129 million representing a 15.2% increase over the previous year. Throughout the year, the app served customers for about 300 million times, which is an 18.7% increase year-on-year, demonstrating its stronger service capacity. |
| &nbsp;&nbsp;&nbsp;Improve the service efficiency of 95519 customer line | China Life Insurance has improved the first-level service algorithm of its 95519 customer service line, making it faster and more efficient for customers to resolve their issues. This has resulted in a more convenient service for customers, with no need for repeating dialing, hearing of the same message, or repeating commands. Additionally, the Company has launched the industry's first digital voice service management platform, achieving the second-level change to the 95519 intelligent voice service emergency response. |
| &nbsp;&nbsp;&nbsp;Create intelligent preservation service model | The security service mode of "multi-access, several parallel tracks, and one step faster" has been comprehensively upgraded, with a focus on improving self-service contacts and intelligent review processes. All review items are now processed within one second, and the electronification rate of customer policy preservation service has increased to 92.79% and automation rate of preservation has exceeded 99%. |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Improve the value-added service platform V Life | The value-added service ecological platform V Life promotes communication between customers and sales staff by supporting regular diversified customer business activities. It provides customers with various, systematic, and professional value-added services. |
| &nbsp;&nbsp;&nbsp;Massive Health Platform | The Massive Health Platform is committed to improving customer experience by offering a wider range of service items and gradually improving platform functions. In 2022, the number of new registrations on the platform exceeded 5 million and the cumulative number of registrations exceeded 32 million. |

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***Developing "senior mode" to bridge the digital gap for the elderly***

China Life has made it a priority to address the insurance needs of elderly customers by providing various service modes tailored to their usage habits. These measures aim to alleviate the challenges that they face when navigating complex digital systems, and enable them to fully enjoy the convenience brought by intelligent services. As of December 31, 2022, a total of 25.59 million service sessions specifically designed to meet the senior's unique needs have been provided.

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Senior mode in China Life Insurance App | China Life Insurance App has added several functions such as adjustable font size, voice authentication login, information read-aloud, and an intelligent answering robot to provide an intimate service experience for the elderly. The system will also display anti-fraud warning risk prompts when processing business on the app, reminding the elderly not to transfer funds unwarily and to be cautious of financial fraud and illegal fund-raising. |
| &nbsp;&nbsp;&nbsp;95519 fast track of special digital line for the senior | The Company launched a digital special green channel for elderly customers on the 95519 customer service line, which automatically and accurately identifies the calling numbers of elderly customers, sets up exclusive service skill groups, and provides slow, light, and soft services and solutions that are more suitable for the understanding and living habits of the elderly. In 2022, the Company provided priority access to human services for 632.9 thousand elderly customers, and the human service connection rate of elderly customers reached 97.93%.<br>The Company is the first in the industry to provide "local accent" service. In addition to human service in mandarin, the customer service team can provide services to elderly customers in their dialects with the customer's consent. The 95519 customer service line team can offer services in 53 dialects, which better solves the problem of language communication inconvenience for the elderly. |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Considerate services for the elderly at physical counters | The Company actively launched a series of service measures to respect and care for the elderly, such as developing a "love version" of smart teller machines, which are with larger fonts and accessible services via voice. The Company also carries out the "Protect the elderly" caring activities, adding special seats for the elderly and equipping the physical counters with reading glasses, blood pressure meters, wheelchairs, and other convenience facilities. China Life has also provided fast track and convenience services for special groups to continuously improve customer service experience. In 2022, the physical counters processed 5.50 million cases for the elderly. |

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![LOGO](g480514g0329152534502.jpg)

**Prioritized access to human service for the elderly at 95519 service line** 

***Giving back to customers and living a warm life together***

China Life is dedicated to giving back to its customers by providing them with quality health services and fostering engagement through various activities.

**China Life giving-back projects** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;"Create Future with China Life" events | As part of its customer giving-back projects, China Life organized an online customer festival with the theme of "Create the Future with China Life". The festival included an online "Energy Playground" area and an offline "Energy Playground" check-in area, with interactive activities and diverse themes, including "Enjoy Yourself", "Little Painters", "700 Health Walk", and "Consumer Rights Protection". As part of the festival, the Company held a "Health Gift Package" giving-back activity, providing its customers with commonly used services such as daily discomfort consultation, pre-hospital emergency rescue, and discharge assistance arrangement. |
| &nbsp;&nbsp;&nbsp;Immunity boost program | Additionally, China Life launched the "Immunity Boost to be Healthy Together" program, which offers a series of live and short video courses on health and sports for different customer groups, including teenagers, middle-aged, elderly people, and office workers. The program is divided into four sections: "Body Correction for the Youth", "Health Care for the Senior", "Sports and Fitness", and "Exercise at Home". |
| &nbsp;&nbsp;&nbsp;Lectures on traditional Chinese medicine | The Company also provided its customers with "Meridian Exercises", which are slow and low-intensity rhythmic exercises based on a traditional Chinese medicine meridian theory. |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;"Enjoy Yourself" event | China Life launched the exclusive "Enjoy Yourself" activities for women, which included nearly 50 high-end beauty salon activities and online short video interactions with micro topics, and attracted over 300 thousand customers' participation. |
| &nbsp;&nbsp;&nbsp;Lectures on first aid knowledge | The Company organized 11 free first aid lectures across nine provinces, including Heilongjiang, Shandong, Fujian, Anhui, Liaoning, Hebei, and Guangdong. |

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***Increasing service outlets and innovating service models***

The company established a service team for ethnic minorities, infiltrated insurance coverage into remote areas, and expanded insurance coverage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Case: China Life's insurance services cover remote pastoral areas**<br>The Qinghai Branch of China Life innovated its services by organizing a marketing service team with ethnic minority members to overcome the language barrier that previously hindered the development of insurance business. This led to better insurance coverage for herders in remote pastoral areas. In 2022, the Mongolia nationality team of the Qinghai Branch in Xiangride achieved a first-year premium payment of RMB 4.0326 million, providing insurance services for remote areas of the grassland, and taking practical actions to improve the lives of people on the grassland.<br>![LOGO](g480514g0329152534783.jpg) <br>

**2.3.2 Improving claims services** 

China Life is committed to providing a "fast and warm" claims service. The Company leverages digital technologies such as the internet, big data, cloud computing, artificial intelligence, blockchain, and 5G networks to improve the speed and quality of its claims service. In 2022, China Life introduced the "mobile, convenient, and efficient" claims service on mobile devices, and integrated intelligent technology to enhance the efficiency of its claim service.

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| |
|:---|
| &nbsp;&nbsp;&nbsp; In 2022, China Life<br>• Processed over 19 million compensation cases, settling an average of 1 claim in less than 1.7 seconds; |
| &nbsp;&nbsp;&nbsp;&nbsp; <br> • Settled over RMB 50 billion in claims, averaging RMB 140 million in compensation payments to customers every day;<br>• Provided direct claims payments for over 6.7 million person-times, with compensation completed in one step immediately after customers were discharged in certain regions;<br>• Offered efficient claims settlement, with a settlement time of 0.13 days for small-amount claims;<br>• Responded rapidly to 88 emergency cases. |

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China Life has diversified its claims application channels to provide customers with more convenient options. Customers can now apply for claims through various channels, such as the China Life Insurance App, official WeChat account, official website, 95519 contact center, and sales outlets, allowing them to make claims anytime, anywhere. This move breaks geographical restrictions and shortens waiting times for customers. Additionally, the Company has innovated the direct payment of claims, focusing on the "medical+insurance+internet" scenario, promoting direct payment services by enabling customers to connect their social security accounts, hospitals, and third-party data, promoting remote and rapid settlement and payment through intelligent means. In some regions, the Company has launched "one-step" direct payment services for claims, allowing customers to settle claims and deduct medical expenses directly upon discharge, providing "zero lag" service for claims.

China Life is committed to optimizing its claims process through the use of artificial intelligence, big data, and other advanced technologies. The Company has taken the lead in the intelligent handling of medical liability claims within the industry. As of December 31, 2022, China Life has utilized intelligent technologies to process nearly 14 million cases, achieving an intelligent processing rate of over 70%.

The Company establishes a strong connection with customers and provides considerate services, such as "door-to-door compensation" for those who are unable to move or bedridden, and actively collects paper claims application materials on door and provides disability identification services. In 2022, the Company provided specialized claims services for over 110 thousand customers, where experts assisted them at their doorstep and supported them throughout the claims process.

**China Life claims services** 

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| |
|:---|
| &nbsp;&nbsp;&nbsp; **"One-day Settlement for Critical Illnesses" faster compensation**<br>China Life is committed to providing faster compensation for critical illness to its eligible customers, and completing the claim processing within one working day, offering "immediate compensation upon diagnosis". The Company has provided the " One-day Settlement for Critical Illnesses " service to nearly 190 thousand eligible customers, with the compensation amount exceeding RMB 8.5 billion. |
| &nbsp;&nbsp;&nbsp; **Quicker disaster claims**<br>China Life has taken swift action in response to several significant emergencies, including the M 6.8 earthquake in Luding County, Sichuan Province, the M 6.1 earthquake in Lushan County, Sichuan Province, and the mountain flood disaster in Datong County, Qinghai Province. The Company quickly activated its emergency claims settlement mechanism, proactively reached out to affected customers, and established a fast track for claims settlement. |

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&nbsp;&nbsp;&nbsp; **Promoting claiming with electronic documents**<br>China Life has actively responded to the country's medical electronic documents reform policy by utilizing big data to expand service channels and extend services, promoting electronic documents claims in various regions. The Company provides customers with convenient and warm claims services such as paperless claims and the option to self-select electronic bills.<br>

**2.3.3 Protecting customer rights** 

China Life is committed to meeting the regulatory requirements for consumer rights protection. To achieve this, has continuously optimized and strengthened its consumer rights protection system and mechanisms to ensure their effective implementation.

To manage and coordinate consumer rights protection, the Company has set up the Consumer Rights Protection Committee, which operates under the leadership of the Party Committee and the President's Office. The Committee is responsible for overseeing the management, organization and coordination of consumer rights protection tasks. A working committee and offices have been established under the Committee to implement various consumer rights protection initiatives. In 2022, China Life actively promoted the protection of consumer rights and interests by transitioning from post-control to operations throughout the entire chain. The Company adopted an "extensive consumer protection" work pattern which included improving consumer protection mechanisms such as consumer protection review, assessment, internal training, and internal audits. These mechanisms were effectively implemented, accelerating the protection of consumer rights and interests.

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Consumer protection review | The Company reviews and evaluates its products and services to ensure consumer rights protection and provides review comments. In 2022, nearly 6.6 thousand reviews related to consumer rights protection were carried out by the Company. |
| &nbsp;&nbsp;&nbsp;Consumer protection assessment | The Company has incorporated consumer rights protection and customer complaint assessment indicators into its comprehensive performance assessment metrics. This assessment covers all departments of the head office and 36 provincial branches, whose work involve consumer rights protection. The assessment results serve as a critical basis for institutional accountability and leadership management. |
| &nbsp;&nbsp;&nbsp;Internal training | The Company has organized training courses on consumer rights protection and "Good Service" serial lectures for its sales staff. In 2022, over 3.2 million participants attended the courses. |
| &nbsp;&nbsp;&nbsp;Internal audit | The Company has made consumer rights protection a priority in its audit work and included it in its annual audit. In 2022, the Company completed the special audit on consumer rights protection. |

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***Consumer rights protection education and publicity***

As of December 31, 2022, China Life has conducted over 15 thousand consumer rights protection education and publicity activities, reaching an audience of 175 million individuals. This represents a 16.7% increase year-on-year. China Life's outstanding performance was acknowledged, it won the titles of "Excellent Organization" and "Excellent Organization in Joint Financial Education and Publicity" during the "3·15" Education and Publicity Week of China Banking and Insurance Regulatory Commission.

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To further emphasize the importance of consumer protection to all employees, enhance consumer financial literacy and self-protection awareness, and establish a transparent financial and insurance consumption environment, the Company has enriched its consumer rights protection education and publicity content. Additionally, the Company has vigorously promoted the construction of an "online + offline" and "centralized + specialized" financial publicity matrix.

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;New layout of online platform and release of original content | China Life introduces the popular science columns on financial knowledge in the China Life Insurance App and official website. The Company has also leveraged its official Weibo account to publish online lectures, which educate the public on insurance basics and risks with long images, cartoons, and micro-videos. |
| &nbsp;&nbsp;&nbsp;Set up specific publicity zone offline and offer popularization education | To expand its channel and strengthen its publicity, the Company has established financial knowledge publicity zones at its counters, providing ample exclusive publicity materials, hosting special lectures, and other events. |

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***Timely feedback to customer complaints***

In 2022, China Life took significant steps to enhance our complaint management measures. We safeguarded the legitimate rights and interests of our customers and improved their overall satisfaction. We worked tirelessly to acknowledge and address customer dissatisfaction and feedback promptly and kept carrying out warning education and sharing examples of excellent case handling. Additionally, we promoted traceable complaint management practices and increased our overall complaint-handling capabilities. According to a report by the China Banking and Insurance Regulatory Commission on industry complaints, our company's relative number of complaints ranked well in the first, second, third and forth quarters of 2022. Specifically, the number of complaints per 100 million RMB premiums ranked 50th, 48th, 48th and 33rd respectively, while the number of complaints per 10 thousand policies ranked 78th, 75th, 79th and 78th respectively. The number of complaints per 10thousand person-time ranked 75th, 75th, 74th and 71st respectively. (Note: A later ranking indicates better performance.)

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From January to December 2022, we received 158,280 cases of customer complaints, resulting in 25.73 complaints per 100 million RMB premium and 3.66 complaints per 10 thousand insurance policies. The distribution of our workflow is as follows: 60,887 for sales, 8,312 for policy purchase, 16,815 for preservation, 22,333 for claims, 27,300 for renewal, and 21,761 for other processes. The distribution of customer complaints across our branches is as bellow:

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Branch | Total amounts (Pieces) | Branch | Total amounts (Pieces) |
| &nbsp;&nbsp;&nbsp; Beijing | 5338 | Qingdao | 1769 |
| &nbsp;&nbsp;&nbsp; Tianjin | 5778 | Henan | 8800 |
| &nbsp;&nbsp;&nbsp; Hebei | 16357 | Hubei | 6571 |
| &nbsp;&nbsp;&nbsp; Shanxi | 2654 | Hunan | 5714 |
| &nbsp;&nbsp;&nbsp; Inner Mongolia | 4490 | Guangdong | 17483 |
| &nbsp;&nbsp;&nbsp; Liaoning | 3144 | Shenzhen | 3715 |
| &nbsp;&nbsp;&nbsp; Dalian | 1075 | Guangxi | 1093 |
| &nbsp;&nbsp;&nbsp; Jilin | 2158 | Hainan | 376 |
| &nbsp;&nbsp;&nbsp; Heilongjiang | 6241 | Sichuan | 2639 |
| &nbsp;&nbsp;&nbsp; Shanghai | 1674 | Guizhou | 1057 |
| &nbsp;&nbsp;&nbsp; Jiangsu | 7717 | Yunnan | 1293 |
| &nbsp;&nbsp;&nbsp; Zhejiang | 3826 | Shaanxi | 7212 |
| &nbsp;&nbsp;&nbsp; Ningbo | 359 | Gansu | 2483 |
| &nbsp;&nbsp;&nbsp; Anhui | 3513 | Qinghai | 404 |
| &nbsp;&nbsp;&nbsp; Fujian | 8191 | Ningxia | 1672 |
| &nbsp;&nbsp;&nbsp; Xiamen | 1046 | Xinjiang | 2053 |
| &nbsp;&nbsp;&nbsp; Jiangxi | 4896 | Chongqing | 3329 |
| &nbsp;&nbsp;&nbsp; Shandong | 12132 | Tibet | 28 |

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![LOGO](g480514g0329152534986.jpg)

**Process of handling customer complaints** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Instructions for Handling Customer Complaints | Acceptance of complaints |
| &nbsp;&nbsp;&nbsp;Main complaint channels | Investigation and handling |
| &nbsp;&nbsp;&nbsp;Letter | Handling comments |
| &nbsp;&nbsp;&nbsp;Visit | Reply to customers |
| &nbsp;&nbsp;&nbsp;China Life Insurance App | Case closing |
| &nbsp;&nbsp;&nbsp;China Life Insurance mini program | Written application to the higher-level unit for review |
| &nbsp;&nbsp;&nbsp;Process of handling customer complaints | If there is disagreement |
| &nbsp;&nbsp;&nbsp;Customer complaints | Letter |
| &nbsp;&nbsp;&nbsp;Call | Visit |
| &nbsp;&nbsp;&nbsp;Others | |

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| |
|:---|
| &nbsp;&nbsp;&nbsp;For consumer complaints with clear facts and simple disputes, the Company will make a decision and inform the complainant within 15 days from the date of receipt; If the situation is complicated, it can be extended to 30 days; If the situation is particularly complicated or there are other special reasons, it may be extended for another 30 days. |
| &nbsp;&nbsp;&nbsp;The complainant may apply in writing for review within 30 days from the date of receiving the handling decision, and the Company will make a review decision within 30 days from the date of receiving the review application. |

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**3. Responsibilities of China Life** 

China Life is committed to serving national strategies by actively participating in national plans such as rural revitalization and coordinated regional development, social welfare initiatives, and providing staff training. By leveraging its core strengths and professional advantages, the aim is to foster a new development pattern that will facilitate the country's all-round modernization.

**3.1. Serving National Strategies** 

China Life firmly believes that ensuring a smoothly operating economy and improving people's lives are the core drivers of enterprise development. As such, the Company places great emphasis on promoting rural revitalization, upholding the founding principles of insurance, and fulfilling the role of an economic "shock absorber" and social "stabilizer".

**3.1.1 Rural revitalization** 

China Life has established and improved its long-term rural revitalization assistance mechanism, centered on "one theme, two pillars, five measures, and six guarantees," with a focus on the "five rejuvenations", namely, rejuvenation in regional industries, talents, culture, ecology, and organization. The Company leverages its strengths to support local economic development and strives to integrate assistance projects with its main business. China Life offers a diverse range of financial and insurance products and high-quality services tailored to the needs of the population that has been lifted from poverty, thereby building a defense line to prevent a large-scale return to poverty. The aim is to gradually develop a replicable and transferable rural revitalization program of China Life.

China Life has been consistently achieving the highest grades in central assessments by delivering top-quality assistance to rural communities. As of December 31, 2022, the Company has invested RMB 239 million in assistance funds and RMB 138 million in consumption assistance funds, strongly supporting local development.

The Company leverages its primary business strengths and actively implements preferential policies to assist individuals facing challenges in acquiring critical illness insurance. Such assistance programs now constitute more than 80% of the company's offerings. Through its Rural Revitalization health insurance product series, China Life has provided compensation for 0.59 million cases. Recognizing the diverse insurance requirements of the rural population, China Life is expanding its rural business operations. In 2022, the Company offered risk protection worth RMB 30.78 trillion to the rural population, covering 310 million cases. Of these, 99.96 million rural individuals are covered by short-term insurance schemes linked to the rural sector, RMB 5.224 billion paid out as compensation.

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**China Life's rural revitalization measures in details** 

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|:---|:---|
| &nbsp;&nbsp;&nbsp;Develop insurance products for rural revitalization | China Life implemented a preferential rate policy. From 2017 to December 31, 2022, the Company developed 33 insurance products, including "Poverty Alleviation Insurance", "Wonderful Life", and "Rural Revitalization", to construct a diversified and targeted insurance product system.<br>The Company upgraded and developed three products related to rural regions: "China Life Rural Poor Families and Orphans Group Accident Insurance (A)" "China Life Small Amount Group Accident Insurance (A)", and "China Life Small Amount Accident Insurance (A)".<br>China Life has developed and promoted 13 special products to support rural rejuvenation, such as "China Life Rural Revitalization Group Term Life Insurance" and "China Life Rural Revitalization Group Comprehensive Accident Insurance". These insurance products provide coverage for accidents, term life insurance, severe illness, medical expenses, and other liabilities. They are particularly suitable for those who have been lifted out of poverty but remain vulnerable to returning to poverty. The insurance policies provide comprehensive and multi-level protection for the rural population. |
| &nbsp;&nbsp;&nbsp;Promote the sales of agricultural products | China Life mobilized its whole system to increase consumption assistance, actively purchase agricultural products in the assistance areas, and directly stimulates production and income growth among the people residing in these areas. |
| &nbsp;&nbsp;&nbsp;Develop a "one-stop" instant settlement service platform | The Company fully leveraged its network and technical advantages and actively used the "one-stop" instant settlement service platform to provide customized and considerate services to those in need. |
| &nbsp;&nbsp;&nbsp;Establish a preferential assistance mechanism | China Life actively promoted assistance projects, starting with project implementation and participating in the construction of precision assistance projects in key areas. The goal is to facilitate sustainable development in industries located in poverty-stricken regions. To this end, the Company established a preferential support mechanism that aids in the development and upgrading of industries, also promoting income growth and overall welfare for individuals and communities. |
| &nbsp;&nbsp;&nbsp;Provide access to education and jobs | Moreover, the Company is actively involved in education and employment assistance. It organized training courses for "three teams," which include village party secretaries, entrepreneurial leaders, and practical science and technology talents, among other intellectual support activities. China Life has also recruited nearly 10,000 agents from key national assistance areas, aiming to stimulate their endogenous motivation towards hard work and wealth creation. |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Case: Supporting and assisting rural communities by creating a livelihood security network**<br>China Life has played a vital role in promoting insurance assistance and industrial development in Daliuhao Town, Qahar Right Rear Banner, located in Ulanqab City, Inner Mongolia. In an effort to help local residents and students in the area, the Company provided insurance coverage of RMB 134 million for critical illnesses and individual accidents to 19,944 people who have just emerged from poverty or people who are on the verge of poverty and may easily fall back in again. Furthermore, China Life invested RMB 4 million in assistance funds to support local economic development and industrial revitalization efforts continuously.<br>![LOGO](g480514g0329152535361.jpg) <br>**Zhao Peng, Party Secretary and President of China Life, conducted an on-site investigation into the Company's rural revitalization efforts**<br>

&nbsp;&nbsp;&nbsp; **Case: College Student Village Official Insurance Project**<br>For many years, China Life has provided comprehensive insurance coverage for severe diseases and individual accidents to all university student village officials who are on-the-job. After collaborating with the Selected Graduates program, the Company promptly updated its product categories and continued to provide comprehensive insurance coverage for all selected graduates who work in the village. As of December 31, 2022, a total of 0.98 million policy holders have been insured under this program, with more than RMB 58 million paid out in compensation. This initiative has helped more than 610 university student village officials and selected graduates who worked in the village that has faced difficulties due to serious illnesses or accidental injuries.<br>

**3.1.2 Regional development** 

China Life continuously improves its ability to serve the real economy and regional development. By December 31, 2022, China Life had made cumulative investments of RMB 3.6 trillion in the real economy and over RMB 2.3 trillion in regional development economies.

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***Beijing-Tianjin-Hebei Coordinated Development***

China Life plays an active role in optimizing the economic and spatial structure of the Beijing-Tianjin-Hebei region and actively participates in the construction of the Xiongan New Area. The Hebei Branch established the Xiongan Branch, based on the original institutions of Xiongxian, Rongcheng, and Anxin, becoming the first approved life insurance company in the Xiongan New Area. The Company provides comprehensive insurance coverage for urban and rural residents in Xiong'an County, including supplementary medical insurance services for urban workers, reducing the financial burden of medical treatment for patients through the double guarantee of basic and supplementary medical insurance. At the same time, the Company deeply participated in the construction of the Xiongan New Area medical insurance system and participated in the management of designated medical institutions with the help of insurance power.

***Integrated Development of the Yangtze River Delta***

China Life is fully committed to supporting the construction of a multi-level social security system in the Yangtze River Delta region and actively promotes city-specific inclusive commercial insurance. As of December 31, 2022, the Company has participated in city-specific projects in various Jiangsu provincial cities, including Hangzhou, Wuxi, Shanghai, and Changzhou, with over 4 million underwriters. During the tea-picking season in 2022, the Huzhou Branch of Zhejiang Province took innovative steps to support tea mountain contractors by allowing them to purchase and pay for insurance online via mobile phones, simplifying the insurance process. This initiative provided insurance coverage for over 30,000 tea-picking workers in 10 townships in Anji.

***Greater Bay Area Construction***

China Life leverages its comprehensive advantages to strengthen its investment support to the Greater Bay Area, while also enhancing its social management efforts in the region, and contributing to the construction of the financial platform in the Greater Bay Area.

&nbsp;&nbsp;&nbsp; **Strengthen investment in Greater Bay Area**<br>China Life plays an active role in strengthening investments in the Greater Bay area by promoting the "insurance funds flowing into Guangdong" program and increasing financial support for "two new and one major" projects, new strategic emerging industries, scientific and technological innovations, green transformation, and other fields, as part of its commitment as a central enterprise.<br>In 2022,<br>Investing about RMB 8 billion in the Guangzhou city investment projects, supporting the Guangzhou City Construction Investment Group Company Limited, a high-quality investment entity in the core cities of the Greater Bay Area.<br>Participating in the new phase of the scientific and technological achievements transformation fund initiated by the State Development & Investment Corporation, the Ministry of Science and Technology, and the Guangdong Provincial Government. This fund not only invests in hard science and technology and scientific and technological innovation but also efficiently undertakes cutting-edge scientific and technological achievements in the Greater Bay Area, which is of great strategic significance for overcoming national core technical problems.<br>Investing RMB 870 million in the COFCO Chuangxin Industrial Park to promote the development of innovative industries, with a focus on the internet industry. The investment will be used to develop supporting software and technology information services, as well as network financial services. This measure optimized the debt structure and contributed to the development of real and innovative economies in the region.<br>

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&nbsp;&nbsp;&nbsp; **Improve services in the Greater Bay Area**<br>China Life has launched special insurance products for the Greater Bay Area.<br>The "China Life Greater Bay Area Medical Insurance (Premium)" introduced in 2022, which provides convenient insurance protection for residents in the area.<br>Exploring the community pension model in Shenzhen. As of December 31, 2022, China Life has started and operated four inclusive community pension projects, which have been widely recognized by the public.<br>

***The Belt and Road***

China Life has optimized its "foreign labor and business travel insurance" expansion plan. As of December 31, 2022, the Company has underwritten personal insurance business in several countries along the "Belt and Road"and provided overseas security for over 200 Chinese-funded foreign enterprises, with a risk insurance amount of RMB 10 billion. Additionally, in its efforts to support the "Belt and Road Initiative" overall plan, China life has promoted the COSCO shipping project and the eastward extension of the "Maritime Silk Road". The Company has also provided insurance services for five sessions of the Dunhuang Cultural Fair, with accumulated risk protection of over RMB 38.1 billion, covering more than 37,000 individuals.

**3.2 Mobilizing Public Welfare Efforts** 

China Life takes an active role in supporting social welfare initiatives and strives to fulfill its corporate responsibility by organizing various community care activities, volunteer services, emergency rescue, among other efforts.

**3.2.1 Public Welfare Programs** 

The Company places great emphasis on social charity work and endeavors to establish China Life as a prominent public welfare brand. To achieve this goal, the Company has implemented the *Regulations on Public Welfare Donations* as a starting point. In 2022, the Company donated RMB 34 million to the China Life Charity Foundation.

**Case: The 12<sup>th</sup> "China Life Little Painters" Value-added Activity** 

In July 2022, China Life officially launched the 12th "China Life Little Painters", a social welfare activity for education of children's social responsibilities and art. The event, themed "Hand in Hand, Draw the Children's Future", invited children aged 3-16 from all over society to participate. Through art education, children can experience the simple relationship between people, humanity, nature, and society.

In addition, China Life is promoting the "Art Back to the Mountain" public welfare plan. The Company has teamed up with authoritative aesthetic education experts and artists in China to provide aesthetic education and development opportunities for teenagers and children in 41 rural primary schools across 11 provinces. This initiative aims to open the doors to art education for urban and rural children across the country.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g480514g0329152704048.jpg) <br> **On the Site of "Art Back to the Mountain" Activity at "China Life Little Painters" Event**<br>

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Case: China Life's Contribution to Cultivating Basketball Young Talent**<br>In 2017, China Life became the exclusive sponsor of the National Youth Basketball Open (NYBO), which marked the beginning of the Company's efforts to cultivate Chinese basketball talent. Over the next five seasons, from 2017 to 2022, China Life worked in collaboration with NYBO to promote youth basketball in China. This five-year journey can be compared to planting a seed that grows into a towering tree, symbolizing new hope for Chinese basketball. Through its support, China Life has contributed to building a solid foundation for the realization of a sports powerhouse and a healthy China.<br>![LOGO](g480514g0329152704267.jpg) ![LOGO](g480514g0329152704392.jpg) <br> **On the Site of the NYBO**<br>|
| &nbsp;&nbsp; **Case: China Life Hosted a "Music Life" Art Salon to Promote Cultural and Artistic Education**<br>In September 2022, China Life hosted a "Music Life" art salon at the National Centre for the Performing Arts. The event consisted of a series of activities that covered a range of art categories, including recitation, violin, Huangmei Opera, guzheng, and more. Through engaging explanations, interactive experiences, and live performances, the event enriched the aesthetic education of young people and helped to improve their cultural and artistic accomplishments. Participants widely welcomed the event, making it a resounding success. |

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&nbsp;&nbsp;&nbsp; ![LOGO](g480514g0329152704548.jpg) <br> **A Scene of Drama Interactions of the "Music Life" Salon**<br>

&nbsp;&nbsp;&nbsp; **China Life Launches "Azure Starry Sky" Space Summer Camp for Young Reporters**<br>In September 2022, China Life launched the "Azure Starry Sky" public welfare space summer camp for young reporters. During the camp, participants had the opportunity to attend engaging science classes led by Chinese space science experts and lecturers. They gained a deeper understanding of the story behind the construction of China's space station.<br>![LOGO](g480514g0329152704798.jpg) <br> **A Photo of the Young Participants after an Engaging Science Class**<br>

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&nbsp;&nbsp;&nbsp; ![LOGO](g480514g0329152705111.jpg) <br> **The Young Students are Making Pneumatic Rocket Models**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Case: China Life's 700 Health Walk and Workout in 100 Cities Activities in 2022**<br>From October to December 2022, China Life organized a series of activities with the theme of "Workout in 100 Cities, Light Up Every City". The campaign aimed to showcase the vitality and style of cities and promote healthy living. The activities included offline health walk relays in 15 cities and online lighting of hand-painted maps.<br> ![LOGO](g480514g0329152705267.jpg) <br> **Activity Sites of Some Cities of the "Workout in 100 Cities, Light Up Every City" Campaign**<br>

China Life actively carries out insurance donation work, donating over 11 million public welfare insurance products in 2022. This effort showcases the characteristic role of commercial insurance in helping and assisting individuals in need.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Case: China Life Guangxi Branch Donates Caring Women's Health Insurance**<br>China Life Guangxi Branch actively donated health insurance to women groups, including women in difficulty, low-income women, and leaders of women's federations. The Company aims to strengthen support for women's work, improve insurance protection for women, and aid in the construction of a comprehensive insurance and protection system for women. In March 2022, China Life Guangxi Branch collaborated with the Women's Federation of the Autonomous Region in launching the "Healthy Guangxi, Women on the Way" activity. China Life Guangxi Branch donated RMB one million worth of women health insurance to the Guangxi Women and Children Development Foundation. The two parties continued to jointly donate health insurance for women to those with low incomes in rural and urban areas throughout the region. This effort has covered a total of 38,000 female policy holders with low incomes, providing an insurance coverage amount of RMB 1.9 billion. The initiative aims to aid women with severe illnesses and their families, provide warmth, and ignite hope.<br>. ![LOGO](g480514g0329152705439.jpg) <br> **Launching Ceremony of "Healthy Guangxi, Women on the Way"**<br>

**3.2.2 Volunteer services** 

China Life encourages its employees to participate in volunteer services. As of December 31, 2022, the Company has established more than 300 youth volunteer teams, with over 7,000 registered young volunteers, and has organized more than 1,500 volunteer activities with more than 30,000 participants.

&nbsp;&nbsp;&nbsp; **Case: Excellent Volunteer for Mountain Fire Rescue at Chongqing Branch of China Life Insurance**<br>In mid-August 2022, Chongqing was hit by extreme high temperature weather, resulting in large-scale forest fires breaking out in Fuling, Beibei, Banan, Jiangjin, Nanchuan, Dazu, Tongliang, Kaizhou, and other places. The leaders and employees of China Life Chongqing Branch actively responded to the calls of various district party committees and governments, and took the initiative to participate in mountain firefighting.<br>Comrade Zhu Mengqiao from Fuling District of Chongqing Branch actively participated in the fire rescue in Daliangshan and Beishanping of Fuling. After the fire broke out, Zhu Mengqiao quickly mobilized nearby veterans to form a volunteer group, and went to the fire scene during their spare time and on weekends to participate in the rescue as volunteers.<br>Comrade Su Jingxuan of China Life Chongqing Banan District Branch actively distributed relief supplies. Su Jingxuan and other volunteers raced against time to load pieces of mineral water and boxes of convenience food onto material vehicles.<br>Chen Yi, from Chongqing Branch, is a member of the rural revitalization team stationed in Xiehe Village, Yunyang. During a recent firefighting operation, Chen participated in the rescue efforts and was responsible for handling supplies. On the night of the operation, he bravely carried heavy extinguishers and returned to the mountain forest to extinguish remaining embers after the initial fire had been put out.<br>

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**3.3 Focus on Personnel Development and Training** 

China Life places a high priority on the well-being of its employees, and is committed to protecting their rights and interests in accordance with the law. The Company is deliciated to implementing employee empowerment and development plans, providing a healthy and supportive work environment, and demonstrating its care for employees.

**3.3.1 Employee rights protection** 

China Life complies with the *Labor Law of the People's Republic of China*, the *Labor Contract Law of the People's Republic of China*, and other relevant laws and regulations. The Company strictly adheres to the *Administrative Measures for Employee Recruitment in the Branches of China Life* and the *Measures for Employee Management in the Branches of China Life*, among other company policies, to safeguard the rights and interests of its employees.

The Company upholds the principle of employment diversification and equal opportunities. Striving to prevent any discrimination based on factors such as gender, region, ethnic group, religion, age, marital status, disability, political stance, in recruitment, salary, training, and promotion, and opposing child labor and forced labor. China Life promotes a diverse and inclusive employment environment that values the unique personalities and contributions of all employees. In 2022, the total number of employees with labor contracts at China Life was 100,378, with 56.51% of employees being female and 6.42% being ethnic minorities.

China Life recognizes the challenge of employee turnover and actively monitors turnover rates while conducting assessments to identify the causes of employee departures. It implements targeted measures to optimize and improve retention rates. In 2022, China Life maintained a stable trend in employee turnover rates, which were at 1.99%.

The Company has established procedures for employees to lodge complaints, ensuring that their right to express dissatisfaction is protected. All levels of the trade union fully utilize the workers' and employees' congress to promote democratic management and supervision, safeguarding the democratic rights of workers. In 2022, China Life held the eighth and ninth workers and employees' congress of the third session of the Company and the 10th and 11th workers and employees' congress of the second session of the headquarters organs, solidifying democratic management practices within the enterprise. As of December 31st, 2022, the workers and employees' congress of China Life covered 100% of its employees.

**3.3.2. Employee developments** 

At China Life, we place great importance on the career development of our employees and strive to offer transparent and equitable promotion opportunities for all staff members. To achieve this goal, we have established a comprehensive personnel training program, including the *Measures for Employee Performance in Branches of China Life*. This policy outlines differentiated performance appraisal policies for employees, regular performance evaluations, performance reports and timely handling of performance complaints. We also link performance targets to variable salaries, providing financial incentives to employees who meet or exceed their performance goals to ensure continued motivation and engagement.

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We recognize the importance of employee growth and have developed several systems, such as the *Management Measures for Staff Education and Training of China Life* and *Management Regulations on the Annual Staff Training Plan of China Life*. These systems provide all our employees with relevant training that covers basic theory, skills training, professional job training, and professional qualification training. By empowering employees in all directions, we improve their abilities. We encourage employees to improve their professional skills by publishing *Management Measures on External Qualifications and* establishing an external qualification database, which motivates them to obtain qualifications outside of the Company.

To further support employee development, we provide specialized training for employees at all levels, to support their development and improve our talent management. Our specific career development training programs cover new employees, grassroots managers, young leaders and professional managers. Our goal is to ensure that we have a sufficient number of talented employees with a complete skillset and a reasonable structure.

**Special Training Program in 2022** 

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| &nbsp;&nbsp;&nbsp; **Training of leaders**<br>The Company has established the *Cadre Education and Training System*, which aims to continuously enhance the education and training of leaders, improve the curriculum system for management training before and during their appointment, and promote leadership development and advancement for all leaders in China Life. This system strengthens their ability to manage enterprises in all directions.<br>In 2022, the Company collaborated with the Central Party School of the CPC to hold several special training courses on party spirit. This initiative was designed to enhance the political awareness and the ability of the departmental and divisional leaders at the headquarter, executives of provincial companies and top leaders of city branches.<br>|
| &nbsp;&nbsp;&nbsp; **Training for fresh graduates** <br>China Life has continued to promote the training program for fresh graduates, which includes a three-year and four-level training system for entry, employment, promotion, and advancement. Through this system, the Company accelerates the process of assisting "new generation" employees in familiarizing themselves with the Company's operations, adapting to job requirements, and integrating into the Company's culture through training, grassroots internship, and follow-up mentoring.<br>The Company has created the Spreading Wings Program, a training program for fresh graduates in branches. Adhering to the principle of "strict selection, intensive training, and focus on practices", the program sets up seven training mechanisms for fresh graduates, including rotation training, double mentorship, practices in base, professional training, practical exercises, follow-up assessment, and prioritized promotion. This program accelerates the training and development of young talents and provides strong support for the quality development of the Company. |

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&nbsp;&nbsp;&nbsp; **Cooperative training with external professional institutions** <br>China Life has partnered with several professional training institutions, including Shanghai Futai, KNX, and China-Europe Business School to provide management training programs for its headquarters, provincial, municipal, and county-level companies. These programs cover seven types of management leaders.<br>In 2022, the Company collaborated with Groway, a consultancy, to offer training courses that aim to train junior, middle, and senior employees into part-time lecturers. This initiative has resulted in a three-level training system for part-time lecturers and has helped the Company to develop a team of authorized lecturers for its branches.<br>

&nbsp;&nbsp;&nbsp; **Case: China Life Lectures Training Program**<br>In 2022, the Company launched the "China Life Lectures" program, which invited experts and scholars from the Central Party School of the CPC, universities, and professional institutions to conduct various special training sessions for our employees. This program proved to be highly successful, with 421,000 participants and a total training time of 45 hours.<br>

**3.3.3 Employee care** 

At China Life, we prioritize the welfare and well-being of our employees. We adhere to the country's policies on labor and personnel, as well as regulations on salary and welfare, and have developed a comprehensive salary and benefits system that covers all our employees. We also promote work-life balance and are committed to ensuring that every employee's benefits are effectively guaranteed. In 2022, we further refined our benefits management system and revised the *Measures on Management of Employee Benefits at Branches of China Life*, which has effectively enhanced the happiness and sense of belonging of our employees.

We also prioritize the occupational health of our employees and comply with the *Labor Law of the People's Republic of China*, the *Regulation on Work-Related Injury Insurance*, and other relevant laws and regulations. We provide regular medical examinations for our employees. We also understand the importance of mental health and offer 7\*24 psychological consultation services for our employees through telephone, video, and face-to-face consultations.

Furthermore, we encourage our employees to engage in physical activities to improve their overall health. In 2022, we organized the "Passion China Life" competition at our headquarters and had 4,810 participants. We continued to support the "Home to Workers" initiative. This initiative aims to construct recreational spaces for our employees, and we received financial-level co-construction support, along with a special fund of RMB 100,000 from the financial trade union. Through our concerted efforts, we successfully constructed 60 homes for workers at the group level, and received the group's special co-construction fund of RMB 3 million. We also constructed an additional 5 homes for workers at the company level and allocated RMB 200,000 in co-construction funds towards the same.

&nbsp;&nbsp;&nbsp; **Case: China Life launched the "Red Power, Keep Reading" activity**<br>In 2022, China Life initiated the "Red Energy, Keep Reading" staff reading and sharing activity, which recognized 300 awards under categories such as "Learning and Reading", "Perusing and Sharing", and "Reading and Imagination". With a total of 13,990 employees from across the Company participating in the activity, it significantly stimulated the staff's passion for reading and learning, creating a positive reading atmosphere within the organization.<br>

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&nbsp;&nbsp;&nbsp; **Case: Women care activities**<br>In 2022, China Life promoted several women's care activities and strengthened support for its female employees through practical measures. These activities included:<br>Holding a special event on "Emotional Management and Living a Happy Life" and inviting renowned developmental psychologists to share their expertise on goal-decompression strategies and the happiness laws in the new era. Representatives from various departments of the Company participated in the event at the main venue in Beijing, and over 10,000 female employees took part online and offline.<br>Promoting the establishment of care rooms for female employees, and successfully completing the installation of facilities and activity schedules in these spaces to provide a comfortable resting area for female employees.<br>The coverage rate of special collective contract for female workers reached 100%.<br>• The number of female workers in difficulty whose files were refined in 2022 is 487.<br>

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**4. Credit of China Life** 

China Life insists on operating in compliance with laws and regulations. The Company takes proactive measures to identify and mitigate potential risks in its business operations and remains fully dedicated to practising and upholding business ethics in all its activities. China Life actively promotes the building of a clean and honest organization, and has implemented various anti-corruption and anti-money laundering regulations. As a result, the Company has achieved new results in the development of corporate governance.

**4.1 Sound Governance** 

China Life is committed to integrating laws and regulations into the whole process of the Company's operation. The Company actively collaborates with investors to enhance the transparency of information disclosure, providing a good guarantee for the Company's operation.

**4.1.1 Improving corporate governance** 

China Life continuously improves corporate governance to ensure the effectiveness and standardization of corporate governance with a perfect governance system. The Company strictly abides by the regulatory requirements and listing rules of its listing location. To improve transparency, China Life continuously refines its information disclosure system and enhances the quality of its disclosures. The Company proactively engages with investors, ensuring that all investors, especially small and medium-sized investors, have equal and accurate access to investment decision-making information. In addition, China Life solidly promotes work related to the general shareholders meetings, the Board of Directors, and the Board of Supervisors in accordance with the relevant rules of procedure. In 2022, the Company held 4 general shareholders meetings, 14 meetings of the Board of Directors, and 7 meetings of the Board of Supervisors.

China Life attaches great importance to the diversity of the Board of Directors and considers various major factors when nominating and appointing directors, including gender, age, professional qualifications, industry experience, and educational background. As of December 31, 2022, the Board of Directors comprises 8 directors, including 1 female director. The Directors are experienced in industry development, financial risk identification and prevention, financial audit, law and compliance management, and sustainable development. All chairmen of the Special Committees under the Board of Directors are independent directors, and members of the Audit Committee are also independent directors with professional backgrounds and experience in financial auditing and law and compliance management.

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![LOGO](g480514g0329152705720.jpg)

**Governance framework of China Life** 

***Expanding investor communication***

China Life has thoroughly implemented local regulatory requirements for listed companies and has made efforts to expand investor services and communication channels. The Company has also improved communication efficiency with the capital market and investors.

In 2022, the Company organized various forms of investor communication activities, including four annual, semi-annual, and quarterly performance conferences both online and offline throughout the year. These events attracted 1,995 analysts and investors and garnered 37,439 views of live webcasts. Additionally, the Company held 38 online non-deal roadshows to showcase its performance. Throughout the year, 154 communication meetings with investors and analysts were held through the internet, telephone, and offline meetings, including 61 online domestic and foreign investor conferences, with a total of more than 1,500 participants.

China Life has continuously improved investor communication methods, with a focus on efficiency and convenience. The Company has utilized various tools such as email, telephone, and the internet to establish a communication platform for investors. In addition, China Life has been timely sharing company information and news with investors through its official WeChat account and WeChat mini program for investor relations., ensuring convenient and timely access to investor information.

***Enhance information disclosure***

China Life has implemented a comprehensive and rigorous information disclosure workflow and system to ensure the quality and effectiveness of its information disclosure. In 2022, the Company not only comply with regulatory requirements and improved its corporate governance, but also disclosed information on its solvency ratio under the second-phase rules of the second-generation solvency supervision system (referred to as "the second generation of solvency system" below). The Company also places great emphasis on voluntary information disclosure, particularly regarding its online insurance business and city-specific commercial health insurance business, and set up a special section of "Insurance Product Analysis" to enrich product information disclosure. China Life continuously promotes the information disclosure of "Comprehensive Health and Endowment Insurance". The Company won an A-level evaluation of information disclosure for listed companies on the main board of the Shanghai Stock Exchange in 2021-2022.

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**4.1.2 Operating in compliance with laws and regulations** 

China Life has been committed to enhancing corporate governance by strengthening the leadership of the Party and reinforcing the rules and regulations of the Company. It has undertaken various tasks such as establishing new regulations and reviewing and eliminating ineffective systems, organizing system clean-up and investigation, and promoting the development of a systematic, scientific, standardized, and effective governance system. As a result, the Company has effectively transformed the system's advantages into corporate governance efficiency, resulting in the development of a more mature and standardized modern financial enterprise system that reflects Chinese characteristics.

Moreover, China Life has consistently improved its compliance management system and corporate governance structure by adhering to the local regulations for listed companies. The Company has utilized the professional committees of the Board of Directors, such as the Audit Committee and the Risk Management and Consumer Rights Protection Committee, to promote the "System Compliance Year" activities. Furthermore, the "three lines of defense" in compliance management have been leveraged to optimize compliance operation mechanisms, enhance compliance, and improve the efficiency of compliance management.

**4.2 Sustainable Governance** 

China Life adheres to the business philosophy of stability, integrity, and compliance, with a focus on forward-thinking planning and systematic thinking. The Company constantly improves its risk management system, implements the construction of a clean organization, and strengthens supply chain compliance management.

**4.2.1 Risk management** 

In terms of risk management, China Life considers risk prevention and control as the bottom line and cornerstone of its development. The Company focuses on the construction of its financial risk management system and deeply optimizes risk management measures to effectively improve its risk prevention and control.

Guided by regulatory requirements, the Company continuously upgrades its risk management system. In 2022, China Life actively adjusted the organizational leadership and top-level design of risk management, shifting its risk preference towards a "people-centered" development concept. It further improved the *Rules of Procedure for the Risk Management Committees of Provincial Branches and the Headquarter*, *Regulations for Comprehensive Risk Management*, the seven types of risk management systems, supporting systems and detailed rules for solvency risk management. The Company ensured that the requirements of the second generation of solvency system are fully integrated into the institutional framework.

China Life responded proactively to the adjustment of comprehensive risk rating indicators under the second-phase rules of the second generation of solvency system, and continuously improved its data management of comprehensive risk rating. The Company strictly carried out annual self-assessment work and promoted solid rectification. In 2022, the Company maintained a good rating on its comprehensive risk rating, keeping its Class A rating for 19 consecutive quarters, effectively highlighting the Company's risk management and control efficiency.

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***Intelligent risk control***

China Life pays attention to technological empowerment, continuously increases investment in intelligent risk control, and continuously promotes the application of new technologies such as big data and artificial intelligence in the field of risk management. Through these efforts, China Life has achieved the integration and sharing of risk data, streamlined the management of risk control information resources, and digitized and automated risk control management methods.

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![LOGO](g480514dsp58.jpg)

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***Preventing illegal fund-raising***

The Company has implemented the *Measures for the Administration of Preventing and Disposing of Illegal Fund-Raising* and continues to enhance its top-level design and architecture system to effectively prevent and address any instances of illegal fund-raising. Additionally, the Company is committed to strengthening its public education campaigns aimed at preventing illegal fund-raising. China Life actively promotes a culture of prevention of illegal fund-raising and participates in events such as the "Keep Your Money Safe and Protect Your Happy Family" campaign organized by the China Banking and Insurance Regulatory Commission. During the campaign, China Life organized nearly 10,000 activities at its outlets, with an accumulated attendance of 700,000. As part of the campaign, the Company produced 1,491 short videos for the short video collection contest to prevent illegal fund-raising, which has effectively expanded its social influence in preventing illegal fund-raising.

***Anti-money laundering***

China Life has made significant progress in enhancing its anti-money laundering risk management system through various investigation initiatives, including anti-money laundering self-examinations and self-corrections, investigations of key issues, special inquiries into suspicious cases, and high-risk customer investigations. In 2022, the Company amended the *Measures for the Administration of Anti-Money Laundering and Anti-Terrorist Financing*, as well as the *Regulations on Risk Assessment, Classification and Management of Customer Money Laundering and Terrorist Financing*. Additionally, the Company improved its anti-money laundering verification and identification system by integrating artificial intelligence and machine learning technologies, which is a first in the insurance industry. This has resulted in a 50% increase in the average processing efficiency of a single suspicious transaction and a recognition accuracy of 96%. In August 2022, the Company initiated an extensive campaign to raise anti-money laundering awareness, with the theme "Compliance with Anti-Money Laundering Laws and Regulations, Enhancing Anti-Money Laundering Awareness". The campaign was successful in attracting over 2.7 million participants, including more than 0.57 million professionals in the insurance industry.

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![LOGO](g480514g0329152707486.jpg)

**4.2.2 Anti-corruption** 

China Life is committed to upholding a culture of clean governance and strictly adheres to the internal regulations of the Communist Party of China, including *The Constitution of the Communist Party of China*, *The Norms Regarding Intra-Party Political Life In New Situation*, *The Code of Integrity and Self-discipline of the CPC*, *The Code of Integrity and Self-discipline of the CPC*, and *Rules on Integrity of Executives of State-Owned Enterprises*. The Company actively promotes anti-corruption measures to maintain integrity and transparency.

To bolster its anti-corruption efforts, the Company has developed and implemented *The List of Key Areas and Steps of Anti-corruption (Trial)* and *The Negative List of Performance for Top Leaders at All Levels （2022）*. Additionally, The Company has also reinforced the accountability mechanisms for its top leaders by precisely outlining rules regarding duty performance, bidding and procurement, personnel appointments, and performance appraisals. China Life firmly adheres to a "zero tolerance" policy towards corruption, and in 2022, no lawsuits related to corruption involving the Company were reported.

**The Negative List of Performance for Top Leaders at All Levels——Bidding and Procurement:** 

Top leaders are strictly prohibited from recommending suppliers to the procurement department during centralized procurement, daily procurement, and infrastructure projects, whether done explicitly or implicitly. Top leaders are not allowed to approve vendors who have a benefit-based relationship with them. Additionally, splitting projects to avoid centralized procurement and decisions made by the Party Committee is prohibited for top leaders.

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China Life Insurance has established a regular and standardized system for internal review, audit, performance appraisal, and reward and punishment. This system encompasses all the relevant business lines of the Company and undergoes regular external supervision. China Life also actively implements any necessary rectifications to ensure compliance and best practices.

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| &nbsp;&nbsp;&nbsp;**Internal audit** | In 2022, the Company investigated its implementation of the Eight Central Regulations. The review covered the whole system and aimed to ensure compliance with these regulations. |
| &nbsp;&nbsp;&nbsp;**External supervision** | In the same year, the Secretary and Deputy Secretary of the Discipline Inspection Commission conducted more than 40 talks about clean organization with newly appointed department and divisional-level personnel at the headquarters and the management team of provincial branches. During these talks, they emphasized the importance of clean organization discipline and put forward relevant requirements. |

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At China Life, we place great emphasis on providing regular business ethics training to all employees and marketing partners. Our training programs cover a broad spectrum of topics, including integrity education, clean organization practices, anti-corruption regulations, and laws and regulations related to business ethics. We also provide targeted training based on job levels to ensure that all employees receive the appropriate level of training. As of December 31, 2022, all members of our board of directors, board of supervisors, and executives participated in the "Special Training on Anti-money Laundering for Directors, Supervisors, and Executives," which lasted for 0.5 hours.

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| |
|:---|
| &nbsp;&nbsp;&nbsp; **Training and Courses for the Management**<br>|
| &nbsp;&nbsp;&nbsp; The "Party's Work Style and Clean Government Education" column has been published on China Life E-learning, along with the launch of three special courses aimed at party members and leaders of the whole system. These courses have received significant participation, with 60,657 people completing the study of the *Party Conduct and Integrity Pocket Book (2022)*, spending a total of 121,314 hours on the course. Similarly, the *Xi Jinping's Opinions on Building a Clean Party and Combating Corruption (2022)* had 51,206 people enrolled and a total study time of 76,809 hours, while the *Compilation of Systems for Implementing the Eight-point Regulation of the Centre*, was completed by 61,228 people, who spent 91,842 hours on the course.<br>As part of our efforts towards clean organization education, we also offer advanced training courses for young cadres and new local team members, which include clean government courses.<br>|
| &nbsp;&nbsp;&nbsp; **Training and Courses for Employees and Marketing Partners**<br>|
| &nbsp;&nbsp;&nbsp; All our employees and marketing partners have studied the *China Life Corporate Culture System (2022)*, with an impressive 1,006,000 participants completing the course. Our corporate culture system promotes the business philosophy of "honesty, innovation, human centeredness and value," emphasizing adherence to modern business ethics in our business development.<br>Furthermore, all our employees have participated in the *Education and Training Course on Integrity Compliance and Administrative Punishment Warning*, with 94,027 people completing the course, and a total study time of 188,054 hours. |

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• *Whistleblower protection* 

China Life has established multiple reporting channels and methods to report instances of disciplinary violations. These channels include a telephone number and mailing address that are prominently displayed on the official website. Upon receiving a report, the Commission for Discipline Inspection member conducts verification through conversations, letters and preliminary investigations to ascertain the authenticity of the reported issue. Once the problem is verified, the commission members handle it according to regulations and company policies.

To protect the legal rights of whistleblowers, China Life adheres to *The Rules for Handling Accusations by Disciplinary Inspection and Inspection Authorities*. The Company has also implemented additional measures to safeguard the identities of whistleblowers. These measures include encrypting and protecting their personal information and prohibiting anyone from tracing their identities without proper authorization. Any individual or entity found violating these rules will face disciplinary actions in accordance with company regulations.

**4.2.3 Supply chain management** 

China Life adheres to the *Bidding Law of the People's Republic of China* and other relevant laws and regulations. To ensure procurement quality, the Company has established and continually improves its supply chain management process. This includes the formulation of *Regulations on Supplier Management*, *Environmental, Social, Governance and Green Financial Management Regulations*, and other documents that aim to build a sustainable supply chain. China Life integrates ESG evaluation standards into supplier management, focusing on suppliers' performance in areas such as information security, occupational health and safety, and environmental management. The Company further refines its ESG management requirements to suppliers and promotes anti-corruption. China Life makes it clear in its *Statement to Suppliers* that suppliers must commit to ethical business practices during the cooperation, actively maintain a fair and clean business environment, abide by international anti-corruption conventions, protect the legitimate rights and interests of their employees, and comply with laws and regulations related to environmental protection.

China Life has put in place a supplier management system that enables the effective management of supply chain risks. This system encompasses risk identification, classification, and regular assessment. The Company uses the scores of suppliers' annual reviews as the basis for their classification, which ensures the quality of supply services while facilitating differentiated supplier management. In cases of supplier violations, China Life strictly follows the supplier withdrawal mechanism and implements corrective measures such as requiring suppliers to make improvements within a specified time frame, disqualifying partnership eligibility, implementing penalties, and blacklisting. As of December 31, 2022, China Life has 21,524 registered suppliers for centralized procurement, including 179 overseas suppliers.

**4.3 Responsible Governance** 

China Life is committed to implementing its ESG strategy by continuously improving its ESG governance structure, carrying out ESG risk management, and enhancing ESG management.

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**4.3.1ESG strategy** 

China Life has set a ESG strategic goal of becoming a world-class and responsible life insurance company, guided by the ESG strategic concept of being people-oriented, caring for life, creating value, and serving society. To achieve this goal, China Life has developed an ESG and social responsibility strategic model that encompasses three dimensions: environment, society, and governance, and considers the interests of seven stakeholders, including the country, society, industry, customers, enterprises, employees, and the environment.

The Company has formulated *The ESG & Social Responsibility Strategy Plan (2021-2025),* to gradually promote ESG management and lead the life insurance industry in ESG management by 2025.

![LOGO](g480514g0329152707704.jpg)

China Life ESG strategy model

Three phases promotion of ESG strategy

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Environment<br> Society<br> Governance | Ensure the healthy operation |
| &nbsp;&nbsp;&nbsp; Employee<br> Enterprise<br> Industry<br> Society<br> Country<br> Client | Ensure the healthy upgrade |
| &nbsp;&nbsp;&nbsp;Build a world-class and responsible life insurance company | Ensure the healthy life |
| &nbsp;&nbsp;&nbsp;Ensure the healthy growth | Ensure the healthy development |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Ensure the healthy environment | Ensure the right of health |
| &nbsp;&nbsp;&nbsp;Ensure the healthy update | Ensure the healthy operation |
| &nbsp;&nbsp;&nbsp; Phase I<br> ·Laying a solid foundation<br> ·Improving key points<br> ·Continuously embracing | Phase II<br> ·Fully improvement<br> ·Systematic promotion<br> ·Regular management |
| &nbsp;&nbsp;&nbsp; Phase III<br> ·Pursuing excellence<br> ·Deep integration<br> ·Leading development | |

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**4.3.2 ESG and green finance management structure** 

China Life is dedicated to establishing a robust ESG and green finance management structure that features well-defined roles and responsibilities. In line with the *Guidelines on Green Finance for the Banking and Insurance Industries*, which were issued by the China Banking and Insurance Regulatory Commission in 2022, the Company upgraded its ESG and green finance management structure from its existing ESG management system, thereby ensuring that roles and responsibilities for ESG and green finance management are clearly defined.

**China Life ESG and green finance management structure** 

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Governance** | Board of Directors | Taking on the main responsibility of promoting the Company's green finance, ESG, and other sustainable development initiatives.<br>Establishing and implementing green development concepts, include those related to the economy, low carbon, environmental protection, and sustainable development.<br>Leveraging the Company's resources and influence, the Board of Directors promote the construction of an ecological civilization system and drive comprehensive green transformation in economic and social development, with the aim to establish a sustainable development model that benefits both the Company and society.<br>|
| &nbsp;&nbsp;&nbsp;**Governance** | Strategy and Assets and Liabilities Management Committee of the Board of Directors | The Committee is responsible for the management and supervision of sustainable development initiatives, such as low carbon measures, environmental protection and green finance. |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Management** | President's Office | The Office is responsible for taking on specific tasks related to sustainable development management, such as ESG initiatives and green finance, as authorized by the Board of Directors. |
| &nbsp;&nbsp;&nbsp;**Management** | ESG/Green Finance Committee | The Committee's role is to guide, coordinate and supervise the system-wide sustainable development management work in all aspects, including ESG and green finance. |
| &nbsp;&nbsp;&nbsp;**Execution** | Brand and Public Relations Department/Reputation Risk Management Department (Office of the ESG/Green Finance Committee)<br>| This department is the lead department for sustainable development management, including ESG and green finance. |
| &nbsp;&nbsp;&nbsp;**Execution** | Relevant departments of the headquarter, provincial branches and professional institutions directly under provincial branches, and city and county branches | These departments are responsible implementing ESG and green financial management tasks. |

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![LOGO](g480514g0329152707876.jpg)

**China Life ESG and green finance management structure** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Board of Directors | ESG/Green Finance Office |
| &nbsp;&nbsp;&nbsp;Approval | Relevant departments of the headquarter, provincial branches，and city and county branches |
| &nbsp;&nbsp;&nbsp;Report | Strategy and Assets and Liabilities Management Committee of the Board of Directors |
| &nbsp;&nbsp;&nbsp;ESG/Green Finance Committee | |

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**4.3.3 ESG and green finance management system** 

China Life has implemented *Environmental, Social and Governance and Green Finance Management Regulations*, in accordance with the green and low-carbon development goals, environmental protection laws and regulations, industrial policies, industry access policies, and other regulations, to standardize the Company's ESG and green finance management system. The Regulations cover key areas such as the organization and management of ESG and green finance, routine construction, ESG risk and internal control management, and institutionalization of major work items such as green investment, green insurance, green operation, green workplace, environmental target management, ESG rating management, climate change response, ESG supply chain management, and social welfare.

To manage ESG risks, China Life has formulated *Measures on ESG Risk Management (Trial)*. These measures clearly define the risk management process, which includes risk identification, risk assessment, risk response and control, following and improvement of risk trends, reporting and filing, to comprehensively improve the risk management capability.

**ESG risk management process** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Risk identification | Identify and assess points of ESG risk faced by the Company during its operations, establish a comprehensive ESG risk database, conduct an annual review of ESG risks at least once a year, and ensure timely updates to the risk library. |
| &nbsp;&nbsp;&nbsp;Risk assessment | Score points of risk in the ESG risk library from three dimensions: impact, frequency and occurrence speed; and divide ESG risk into three levels based on the scores. |
| &nbsp;&nbsp;&nbsp;Risk response and control | Upon completion of the annual ESG risk assessment, implement appropriate measures and controls based on the level of ESG risk identified. In the event of a major ESG risk incident, the ESG Risk Emergency Leading Group will provide leadership and oversee response efforts. |
| &nbsp;&nbsp;&nbsp;Trend following and improvement | <br>Continuously monitor industry trends related to ESG risk, update the ESG risk library in time and improve relevant special solutions for ESG risk. |
| &nbsp;&nbsp;&nbsp;Reporting and filing | Conduct at least one assessment of ESG risk management. Issue an annual ESG risk management assessment report and ESG risk identification and judgment based on the assessment. |

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In 2022, China Life identified the top five ESG risks as information security risks, climate change risks, corruption risks, human capital and customer relationship management risks, and talent attraction and retention risks. To address these risks, the Company has developed targeted management strategies to closely monitor the progress and trends of each risk.

**4.3.4 Materiality analysis** 

As part of its commitment to sustainable development, China Life prioritizes the suggestions and needs of its stakeholders. This involves continually gathering stakeholder expectations and demands through efficient and effective communication channels and responding to them in a practical and effective manner.

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Stakeholders** | **Expectations & Appeals** | **Mode of Communications** |
| &nbsp;&nbsp;&nbsp; Government and<br> Regulators | Operate in compliance with laws and regulations<br>Pay taxes according to laws<br>Create job opportunities<br>Serve the national strategy<br>Prevent risks | Work report and communication<br>Participate in meetings and major activities<br>Documents and special reports<br>Accept supervision |
| &nbsp;&nbsp;&nbsp; Shareholders and<br> Investors | Create stable returns<br>Improve corporate governance<br>Strengthen investor relationship management<br>Disclosure information in a timely, accurate and complete manner | Shareholders' meeting<br>Regular announcements and roadshows<br>Press conference<br>Meeting of analysts<br>Arrange investors and analysts to survey branches and subsidiaries |
| &nbsp;&nbsp;&nbsp;Customers | Good faith and quality services<br>Satisfactory customer experience<br>Rich insurance products<br>Protect legitimate rights and interests | Smart service processes<br>Survey of customers demand/satisfaction<br>Service hotline<br>Handling of customer complaints<br>Characteristic customer activities and value-added services |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Partners | Fair competition<br>Good faith and mutual benefit | Daily informal communication<br>Sign cooperation agreements<br>Morning sessions and symposiums of sales agents<br>Special surveys and lectures<br>Survey of related parties |
| &nbsp;&nbsp;&nbsp;Employees | Safeguard basic rights and interests<br>Assurance for salary and benefits<br>Occupational health and safety<br>Career advancement and development<br>Care for employees | Pay wages in full and on time<br>Congress of workers and staff<br>Employees symposiums<br>Training of employees<br>Help needy employees<br>President's letter box<br>Investigate the needs and satisfaction of employees |
| &nbsp;&nbsp;&nbsp;Community & Public | Promote local employment<br>Take part in public welfare programs<br>Drive community economy<br>Rural revitalization<br>Serve people's livelihood | Community communications and surveys<br>Carry out public welfare activities<br>Volunteer services<br>Disaster relief<br>Insurance for poverty alleviation, e-commerce poverty alleviation, donations for medical care<br>Develop health insurance and inclusive medical care |
| &nbsp;&nbsp;&nbsp;Environment | Climatic changes<br>Energy saving and emission reduction<br>Integrated utilization of resources<br>Green offices | Publicity about environmental protection<br>Disclosure of environmental information<br>Public welfare activities of environmental protection<br>Green buildings<br>Electronic service process |

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***Materiality principle***

China Life carefully analyzes and consolidates stakeholder expectations and demands, and adheres to the *Environmental, Social and Governance Reporting Guide* issued by HKEX. The Company also implements a rigorous process for identifying and evaluating material ESG issues. This includes conducting multidimensional research and analysis, such as macro-policy research, analysis of domestic and international social responsibility standards, strategic planning, industry benchmarking, and stakeholder engagement and interviews. As a result of this process, China Life has identified 19 material ESG issues based on their relevance to both stakeholder concerns and company development. These issues have been consolidated into an ESG matrix for 2022.

**Materiality Identification Process** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Identification | Comparison with domestic and foreign industrial standard<br>Development strategy and plan of the Company<br>Macro state policies<br>Analysis of domestic and foreign standards for social responsibility |
| &nbsp;&nbsp;&nbsp;Survey | Influence on the Company<br>Influence on stakeholders |
| &nbsp;&nbsp;&nbsp;Analysis | Analysis from management of the Company<br>Anylysis from external experts |
| &nbsp;&nbsp;&nbsp;Confirmation | Confirm material issues and have materiality matrix of China Life |

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Materiality MatrixMateriality Identification Process

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| | | | | |
|:---|:---|:---|:---|:---|
| ![LOGO](g480514g88m04.jpg) | Win-win partnership | Information safety | Implementing major national strategies<br>Rural revitalization | Financial risk prevention and control |
| ![LOGO](g480514g88m04.jpg) | Responding to climate change | Protecting consumers' rights | Inclusive financial<br>Green finance | Upgrading customer experience |
| ![LOGO](g480514g88m04.jpg) | Public welfare program | Science and Technology Innovation | Corporate governance | Product Diversity |
| ![LOGO](g480514g88m04.jpg) | Supply chain management | Protect rights & interests and development of employees | Leading the development of the industry | Compliance with laws and regulations |
| ![LOGO](g480514g88m04.jpg) | <br> ![LOGO](g480514g88m05.jpg)  | <br> ![LOGO](g480514g88m05.jpg)  | <br> ![LOGO](g480514g88m05.jpg)  | <br> ![LOGO](g480514g88m05.jpg)  |

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| |
|:---|
| &nbsp;&nbsp;&nbsp;Very High |
| &nbsp;&nbsp;&nbsp;Importance for the Sustainable Development of China Life |
| &nbsp;&nbsp;&nbsp;Importance for the Sustainable Development of Stakeholders |
| &nbsp;&nbsp;&nbsp;High |

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**4.3.5 United Nations Sustainable Development Goals (SDGs)** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**SDGs** | **China Life took the following actions:** |
| &nbsp;&nbsp;&nbsp; ● ![LOGO](g480514g0329152708079.jpg) ![LOGO](g480514g0329152708282.jpg) ![LOGO](g480514g0329152708486.jpg)  | • Invested cumulative RMB 239 million in rural assistance, RMB 138 million in assistance through conception.<br>• Established over 300 youth volunteer teams with more than 7,000 registered young volunteers, organized more than 1,500 volunteer services, resulting in over 30,000 participants in volunteer service.<br>• Donations to China Life Charity Foundation reached RMB 34 million.<br>• Donated 11 million public welfare insurance products, leveraging the characteristic role of commercial insurance in helping and assisting.<br>• Provided nearly 90 million student insurance products, with a total of 28.5 trillion insured amounts.<br>• Underwrote more than 52 million endowment insurance policies, accumulating over RMB 1.7 trillion in pension reserves for residents.<br>• Continued the "China Life Little Painters" art education activities for 12 consecutive years.<br>|
| &nbsp;&nbsp;&nbsp; ![LOGO](g480514g0329152708689.jpg) | • Protected the rights and interests of women workers and promoted gender equality.<br>• Refined 487 files of women employees with difficulties.<br>• The signing rate of women employee collective contracts reached 100%. |
| &nbsp;&nbsp;&nbsp; ![LOGO](g480514g0329152708876.jpg) | • Completed the signing of China Life Investment-Xinyuan Yihao equity investment plan; partnered with entities under China Energy Investment Corporation to jointly invest in clean energy projects, such as wind power and photovoltaic projects. |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; ![LOGO](g480514dsp074.jpg) | • Providing careers for over 100,000 employees.<br>• 2,509 employee received assistance and condolences . |
| &nbsp;&nbsp;&nbsp; ![LOGO](g480514dsp074a.jpg) | • Implemented more than 100 city-specific medical insurance projects, with 50 newly added in 2022 and a cumulative insured people of 22 million. |
| &nbsp;&nbsp;&nbsp; ![LOGO](g480514dsp074b.jpg)  | • Invested about RMB 1.5 billion in ESG and green finance portfolio, and the accumulated scale of green investment in stock exceeded RMB 430 billion.<br>• Advocated for a paperless work style and saved resources by achieving a 99.99% of paperless operation rate in individual business. The company also built a comprehensive online policy service for customers, and the self-service rate of online preservation reached 92.79%. |

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**List of Measures and Regulations<sup>7</sup>** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;HKEX ESG Guidelines | Names |
| &nbsp;&nbsp;&nbsp;Aspect A1: Emissions | The Interim Measures for Energy Conservation and Emission Reduction of China Life Insurance Company Limited |
| &nbsp;&nbsp;&nbsp;Aspect A2: Use of Resources | Fix Asset Management Regulations of China Life Insurance Company Limited<br>Vehicle Management Regulations of China Life Insurance Company Limited |
| &nbsp;&nbsp;&nbsp;Aspect A3: Environment and Natural Resources | Environmental, Social and Governance and Green Finance Management Regulations of China Life Insurance Company Limited |
| &nbsp;&nbsp;&nbsp;Aspect A4: Climate Change | Environmental, Social and Governance and Green Finance Management Regulations of China Life Insurance Company Limited<br>Regulations for Comprehensive Risk Management of China Life Insurance Company Limited<br>Measures for the Administration of Anti-Money Laundering and Anti-Terrorist Financing of China Life Insurance Company Limited<br>Measures on ESG Risk Management of China Life Insurance Company Limited (Trial) |
| &nbsp;&nbsp;&nbsp;Aspect B1: Employment | Administrative Measures for Employee Recruitment in the Branches of China Life Insurance Company Limited<br>Measures for Employee Performance in Branches of China Life of China Life Insurance Company Limited<br>Measures on Management of Employee Benefits at Branches of China Life of China Life Insurance Company Limited |
| &nbsp;&nbsp;&nbsp;Aspect B2: Health and Safety | / |
| &nbsp;&nbsp;&nbsp;Aspect B3: Development and Training | Management Measures for Staff Education and Training of China Life Insurance Company Limited<br>Management Regulations on the Annual Staff Training Plan of China Life Insurance Company Limited<br>Management Measures on External Qualifications of China Life Insurance Company Limited<br>Measures for Employee Performance in Branches of China Life Insurance Company Limited |
| &nbsp;&nbsp;&nbsp;Aspect B4: Labour Standards | Measures for Employee Management in the Branches of China Life Insurance Company Limited |

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<sup>7</sup> Only the measures and regulations disclosed in this report are included. Other policies and systems of the Company are not covered.

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Aspect B5: Supply Chain Management | Environmental, Social and Governance and Green Finance Management Regulations of China Life Insurance Company Limited<br>Regulations on Supplier Management of China Life Insurance Company Limited |
| &nbsp;&nbsp;&nbsp;Aspect B6: Product Responsibility | ESG/Green Investment Basic Guiding Rules of China Life Asset Management Company Limited (Trial)<br>User Information Authorization and Personal Information Protection Policy of China Life Insurance Company Limited<br>Administrative Measures of China Life Insurance Limited for the Protection of Intellectual Property Right<br>Measures on Customer Experience of China Life Insurance Company Limited (Trial) |
| &nbsp;&nbsp;&nbsp;Aspect B7: Anti-corruption | The List of Key Areas and Steps of Anti-corruption of China Life Insurance Company Limited (Trial)<br>The Negative List of Performance for Top Leaders at All Levels of China Life Insurance Company Limited<br>Measures for the Administration of Anti-Money Laundering and Anti-Terrorist Financing of China Life Insurance Company Limited<br>Regulations on Risk Assessment, Classification and Management of Customer Money Laundering and Terrorist Financing of China Life Insurance Company Limited |
| &nbsp;&nbsp;&nbsp;Aspect B8: Community Investment | Regulations on Public Welfare Donations of China Life Insurance Company Limited |

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**Table of KPI** 

**Environmental Performance<sup>8</sup>** 

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| | | | | |
|:---|:---|:---|:---|:---|
| Performance | Unit | 2020 | 2021 | 2022 |
|  Gasoline consumption of the fleet | L | 20589331.69 | 17959731.50 | 14496376.72 |
|  Gas consumption | cubic meters | 5628108.02 | 6225082.64 | 6223777.72 |
|  Coal consumption | kg | 1088744.20 | 248905.60 | 144094.34 |
|  Diesel consumption | L | 604309.24 | 575546.18 | 715450.91 |
|  Liquefied petroleum gas | kg | 262592.65 | 440375.95 | 330568.93 |
|  Electric power consumption | kWh | 467976768.60 | 551218573.61 | 536106340.74 |
|  Purchased thermal consumption | GJ | 5825015.22 | 4564593.37 | 3219229.11 |
|  Comprehensive energy consumption | ton of standard coal | 287676.33 | 252559.85 | 201009.51 |
|  Comprehensive energy consumption density | kg standard coal / RMB 10,000 revenue | 3.49 | 2.94 | 2.43 |
|  Total greenhouse gas emission | tons | 1104841.23 | 1062662.36 | 708241.70 |
|  Scope I (including greenhouse gas emissions from all fuel combustion) | tons of carbon dioxide equivalent | 61770.86 | 56112.28 | 48385.05 |
|  Scope II (including greenhouse gas emissions from purchased electricity used) | tons of carbon dioxide equivalent | 1043070.36 | 1006550.08 | 659856.65 |
|  Greenhouse gas emission density | kg CO2 equivalent / RMB 10,000 revenue | 13.39 | 12.38 | 8.57 |

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<sup>8</sup> The calculations were made according to the General Principles for *Calculation of Comprehensive Energy Consumption (GB/T2589-2020)* and *2006 IPCC Guidelines for National Greenhouse Gas Inventories*. The emission factors of purchased power are calculated with reference to the Notice on the Management of Greenhouse Gas Emission Reporting for Enterprises in the *Power Generation Industry from 2023 to 2025* published by the Ministry of Ecology and Environment of the People's Republic of China on February 7, 2023. 

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| | | | | |
|:---|:---|:---|:---|:---|
|  Waste batteries | pieces | 673105.0 | 646607.0 | 565347.0 |
|  Waste ink boxes | pieces | 111924.0 | 111585.0 | 95720.0 |
|  Waste toner cartridges | pieces | 72390.0 | 74050.0 | 64645.0 |
|  Electronic waste | tons | 717.59 | 1097.82 | 480.15 |
|  Kitchen garbage | tons | 2740.64 | 3821.18 | 3701.42 |
|  Other office waste | tons | 2601.45 | 2812.84 | 2472.89 |
|  Total office paper consumption | tons | 7072.73 | 4827.09 | 4472.58 |
|  Total office water consumption | tons | 8702311.3 | 9840934.36 | 8278165.86 |
|  Water use density | Kg/RMB 10,000 revenue | 105.49 | 114.63 | 100.21 |

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**Social Performance** 

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| | | | | |
|:---|:---|:---|:---|:---|
| Performance | Unit | 2020 | 2021 | 2022 |
|  The number of intellectual property rights obtained by the Company | / | 152 | 39 | 38 |
|  The number of new product development and upgraded product | / | 237 | 160 | 88 |
|  Social insurance coverage | % | 100 | 100 | 100 |
|  Donate funds | RMB 10,000 | / | / | 3495.98 |
|  Total public benefit insurance endowment coverage | RMB 10,000 | / | / | 91152240.69 |
|  The number of male staff | person | 44336 | 43998 | 43656 |
|  The number of female staff | person | 58167 | 57461 | 56722 |
|  The number of staff in mainland China | person | 102496 | 101450 | 100362 |
|  The number of overseas staff<sup>9</sup> | person | 7 | 9 | 16 |
|  The number of senior and middle management staff<sup>10</sup> | person | / | 159 | 159 |
|  The number of general employees | person | / | 101300 | 100219 |
|  The number of salesmen | in ten thousand | 145.8 | 89 | 72.9 |

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<sup>9</sup> Number of contract employees from Hong Kong, Macao, Taiwan and foreign countries working in the China mainland.

<sup>10</sup> Definition of middle and senior management: senior managers of the head office and members of the general manager office in provincial branches, excluding the full-time secretary of the Discipline Inspection Commission.

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| | | | | |
|:---|:---|:---|:---|:---|
|  Total number of contracted employees | person | 101528 | 101459 | 100378 |
|  The number of employees aged under 35 | person | 47953 | 38494 | 36085 |
|  The number of employees aged from 35 to 50 | person | 40974 | 48596 | 49184 |
|  The number of employees aged over 50 | person | 13576 | 14369 | 15109 |
|  The number of ethnic minority employees | person | 6431 | 6486 | 6442 |
|  Annual employee turnover rate | % | / | 2.78 | 1.99 |
|  Turnover rate of the male employee | % | / | 3.05 | 2.17 |
|  Turnover rate of the female employee | % | / | 2.55 | 1.85 |
|  Turnover rate of employees aged under 35 | % | / | 5.68 | 4.35 |
|  Turnover rate of employees aged from 35 to 50 | % | / | 1.09 | 0.73 |
|  Turnover rate of employees aged over 50 | % | / | 0.3 | 0.2 |
|  Turnover rate of employees in mainland China | % | / | 2.78 | 1.99 |
|  Turnover rate of employees overseas | % | / | 0 | 0 |
|  Total amount of new employees | person | / | 3894 | 3515 |
|  The number of work-related death | person | / | 8 | 3 |
|  The rate of work-related death | % | / | 0.0078 | 0.003 |
|  The number of day lost due to work-related injury | day | / | 8870.5 | 5779 |
|  Training rate of the male employees | % | / | 100 | 100 |
|  Training rate of the female employees | % | / | 100 | 100 |

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| | | | | |
|:---|:---|:---|:---|:---|
|  Average training hours for employees | hours | 111 | 119.0 | 114.56 |
|  Average training hours for the male employees | hours | 103 | 108.3 | 110.82 |
|  Average training hours for the female employees | hours | 127 | 125.97 | 118.31 |
|  Training rate of employees | % | 100 | 100.0 | 100.0 |
|  Training rate of new employees | % | 100 | 100.0 | 100.0 |
|  Training rate of senior and middle management employees | % | 100 | 100.0 | 100.0 |
|  General employee training rate | % | / | 100.0 | 100.0 |
|  Average training hours for senior and middle management employees | hours | 162.4 | 156.15 | 159.53 |
|  Average training hours for normal employees | hours | 105.3 | 113.09 | 109.46 |
|  The number of trainers in the system | person | 220363 | 176423.0 | 143189.0 |
|  Network courseware | pieces | 5805 | 7354.0 | 5912.0 |
|  The number of people learning online | in ten thousand | 2358.25 | 2914.51 | 2813.21 |
|  The number of people taking the online exam | in ten thousand | 189.11 | 272.85 | 276.39 |
|  Employee training and development expenses | in RMB 100 million | / | 1.776 | 0.9449 |
|  The number of registered suppliers in centralized procurement | / | / | 21524.0 \* | 29442.0 |
|  The number of new registered suppliers in centralized procurement | / | / | 9341.0 \* | 7918.0 |
|  The number of new registered suppliers in centralized procurement in mainland China | / | / | 9288.0 \* | 7856.0 |
|  The number of new registered suppliers in centralized procurement in Hong Kong, Macao, and Taiwan China | / | / | 23.0 \* | 36.0 |
|  The number of new overseas registered suppliers in centralized procurement | / | / | 30.0 \* | 17.0 |

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\* After adjustment, we retroactively updated some data in 2021.

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**ESG Index** 

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**General Disclosure and KPIs** | &nbsp;&nbsp;&nbsp;**General Disclosure and KPIs** | **Response** |
| &nbsp;&nbsp;&nbsp;**Environmental** | &nbsp;&nbsp;&nbsp;**Environmental** | &nbsp;&nbsp;&nbsp;**Environmental** |
| &nbsp;&nbsp;&nbsp;**A1 Emissions** | &nbsp;&nbsp;&nbsp;**A1 Emissions** | &nbsp;&nbsp;&nbsp;**A1 Emissions** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P14-17 |
| &nbsp;&nbsp;&nbsp;A1.1 | The types of emissions and respective emissions data. | P75 |
| &nbsp;&nbsp;&nbsp;A1.2 | Direct (Scope 1) and energy indirect (Scope 2) GHG emissions (in tonne) and, where appropriate, intensity (e.g., per unit of production volume, per facility). | P74-75 |
| &nbsp;&nbsp;&nbsp;A1.3 | Total hazardous waste produced (in tonne) and, where appropriate, intensity (e.g., per unit of production volume, per facility). | P75 |
| &nbsp;&nbsp;&nbsp;A1.4 | Total non-hazardous waste produced (in tonnes) and, where appropriate, intensity (e.g., per unit of production volume, per facility). | P75 |
| &nbsp;&nbsp;&nbsp;A1.5 | Description of emissions target(s) set and steps taken to achieve them. | P14-17 |
| &nbsp;&nbsp;&nbsp;A1.6 | Description of how hazardous and non-hazardous wastes are handled, and a description of reduction target(s) set and steps taken to achieve them. | P14-17 |
| &nbsp;&nbsp;&nbsp;**A2 Use of resources** | &nbsp;&nbsp;&nbsp;**A2 Use of resources** | &nbsp;&nbsp;&nbsp;**A2 Use of resources** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P14-17 |
| &nbsp;&nbsp;&nbsp;A2.1 | Direct and/or indirect energy consumption by type (e.g., electricity, gas or oil) in total (kWh in '000s) and intensity (e.g., per unit of production volume, per facility). | P74 |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;A2.2 | Water consumption in total and intensity (e.g., per unit of production volume, per facility). | P75 |
| &nbsp;&nbsp;&nbsp;A2.3 | Description of energy use efficiency target(s) set and steps taken to achieve them. | P14-17 |
| &nbsp;&nbsp;&nbsp;A2.4 | Description of whether there is any issue in sourcing water that is fit for purpose, water efficiency target(s) set and steps taken to achieve them. | N/A |
| &nbsp;&nbsp;&nbsp;A2.5 | Total packaging material used for finished products (in tons) and, if applicable, with reference to per unit produced. | N/A |
| &nbsp;&nbsp;&nbsp;**A3 Environment and Natural Resources** | &nbsp;&nbsp;&nbsp;**A3 Environment and Natural Resources** | &nbsp;&nbsp;&nbsp;**A3 Environment and Natural Resources** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P14-17 |
| &nbsp;&nbsp;&nbsp;A3.1 | Description of the significant impacts of activities on the environment and natural resources and the actions taken to manage them. | P14-17 |
| &nbsp;&nbsp;&nbsp;**A4 Climate change** | &nbsp;&nbsp;&nbsp;**A4 Climate change** | &nbsp;&nbsp;&nbsp;**A4 Climate change** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P17-20 |
| &nbsp;&nbsp;&nbsp;A4.1 | Description of the significant climate-related issues which have impacted, and may impact, the issuer, and the actions taken to manage them. | P17-20 |
| &nbsp;&nbsp;&nbsp;**Social** | &nbsp;&nbsp;&nbsp;**Social** | &nbsp;&nbsp;&nbsp;**Social** |
| &nbsp;&nbsp;&nbsp;**Employment and Labor Practices** | &nbsp;&nbsp;&nbsp;**Employment and Labor Practices** | &nbsp;&nbsp;&nbsp;**Employment and Labor Practices** |
| &nbsp;&nbsp;&nbsp;**B1 Employment** | &nbsp;&nbsp;&nbsp;**B1 Employment** | &nbsp;&nbsp;&nbsp;**B1 Employment** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P50 |
| &nbsp;&nbsp;&nbsp;B1.1 | Total workforce by gender, employment type (full-time or part-time), age group and geographical region | P75-76 |
| &nbsp;&nbsp;&nbsp;B1.2 | Employee turnover by gender, age group and geographical region | P75-76 |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**B2 Health and Safety** | &nbsp;&nbsp;&nbsp;**B2 Health and Safety** | &nbsp;&nbsp;&nbsp;**B2 Health and Safety** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P52-53 |
| &nbsp;&nbsp;&nbsp;B2.1 | Number and rate of work-related fatalities in each of the past three years (including the reporting year). | P76 |
| &nbsp;&nbsp;&nbsp;B2.2 | Lost days due to work-related injury. | P77 |
| &nbsp;&nbsp;&nbsp;B2.3 | Description of occupational health and safety measures adopted, and how they are operated and monitored. | P52-53 |
| &nbsp;&nbsp;&nbsp;**B3 Development and Training** | &nbsp;&nbsp;&nbsp;**B3 Development and Training** | &nbsp;&nbsp;&nbsp;**B3 Development and Training** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P50-52 |
| &nbsp;&nbsp;&nbsp;B3.1 | The percentage of employees trained by gender and employee category (e.g., senior management, middle management). | P77 |
| &nbsp;&nbsp;&nbsp;B3.2 | The average training hours completed per employee by gender and employee category. | P77 |
| &nbsp;&nbsp;&nbsp;**B4 Labour Standards** | &nbsp;&nbsp;&nbsp;**B4 Labour Standards** | &nbsp;&nbsp;&nbsp;**B4 Labour Standards** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P50 |
| &nbsp;&nbsp;&nbsp;B4.1 | Description of measures to review employment practices to avoid child and forced labour. | P50 |
| &nbsp;&nbsp;&nbsp;B4.2 | Description of steps taken to eliminate such practices when discovered. | P50 |
| &nbsp;&nbsp;&nbsp;**Operating Practices** | &nbsp;&nbsp;&nbsp;**Operating Practices** | &nbsp;&nbsp;&nbsp;**Operating Practices** |
| &nbsp;&nbsp;&nbsp;**B5 Supply Chain Management** | &nbsp;&nbsp;&nbsp;**B5 Supply Chain Management** | &nbsp;&nbsp;&nbsp;**B5 Supply Chain Management** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P61 |
| &nbsp;&nbsp;&nbsp;B5.1 | Number of suppliers by geographical region. | P77-78 |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;B5.2 | Description of practices relating to engaging suppliers, the number of suppliers operating relevant practices and relevant operation and monitoring methods | P61 |
| &nbsp;&nbsp;&nbsp;B5.3 | Description of practices used to identify environmental and social risks along the supply chain, and how they are operated and monitored. | P61 |
| &nbsp;&nbsp;&nbsp;B5.4 | Description of practices used to promote environmentally preferable products and services when selecting suppliers, and how they are operated and monitored. | P61 |
| &nbsp;&nbsp;&nbsp;**B6 Product Responsibility** | &nbsp;&nbsp;&nbsp;**B6 Product Responsibility** | &nbsp;&nbsp;&nbsp;**B6 Product Responsibility** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P21-41 |
| &nbsp;&nbsp;&nbsp;B6.1 | Percentage of total products sold or shipped subject to recalls for safety and health reasons. | N/A |
| &nbsp;&nbsp;&nbsp;B6.2 | Number of products- and service-related complaints received and how they are dealt with. | P38-41 |
| &nbsp;&nbsp;&nbsp;B6.3 | Description of practices relating to observing and protecting intellectual property rights. | P31-32 |
| &nbsp;&nbsp;&nbsp;B6.4 | Description of quality assurance process and recall procedures. | N/A |
| &nbsp;&nbsp;&nbsp;B6.5 | Description of protection and privacy policies on consumer data, as well as relevant operation and monitoring methods | P27-31 |
| &nbsp;&nbsp;&nbsp;**B7 Anti-corruption** | &nbsp;&nbsp;&nbsp;**B7 Anti-corruption** | &nbsp;&nbsp;&nbsp;**B7 Anti-corruption** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P56-61 |
| &nbsp;&nbsp;&nbsp;B7.1 | Number of concluded legal cases regarding corrupt practices brought against the issuer or its employees during the reporting period and the outcomes of the cases. | P59 |
| &nbsp;&nbsp;&nbsp;B7.2 | Description of preventive measures and whistle-blowing procedures, and how they are operated and monitored. | P61 |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;B7.3 | Description of anti-corruption training provided to directors and staff. | P59-61 |
| &nbsp;&nbsp;&nbsp;**Community** | &nbsp;&nbsp;&nbsp;**Community** | &nbsp;&nbsp;&nbsp;**Community** |
| &nbsp;&nbsp;&nbsp;**B8 Community Investment** | &nbsp;&nbsp;&nbsp;**B8 Community Investment** | &nbsp;&nbsp;&nbsp;**B8 Community Investment** |
| &nbsp;&nbsp;&nbsp;General Disclosure | &nbsp;&nbsp;&nbsp;General Disclosure | P41-50 |
| &nbsp;&nbsp;&nbsp;B8.1 | Focus areas of contribution (e.g., education, environmental concerns, labour needs, health, culture, sport). | P41-50 |
| &nbsp;&nbsp;&nbsp;B8.2 | Resources contributed (e.g., money or time) to the focus area. | P41-50 & P75 |

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**GRI Index** 

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**GRI STANDARD** | **DISCLOSURE** | **LOCATION** | **RESPONSE** |
| &nbsp;&nbsp;&nbsp;**GRI 1: Foundation 2021** | &nbsp;&nbsp;&nbsp;**GRI 1: Foundation 2021** | &nbsp;&nbsp;&nbsp;**GRI 1: Foundation 2021** | &nbsp;&nbsp;&nbsp;**GRI 1: Foundation 2021** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-1 Organizational details | **About Us** | **P6-7** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-2 Entities included in the organization's sustainability reporting | **About the Report** | **P2** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-3 Reporting period, frequency and contact point | **About the Report** | **P2** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-4 Restatements of information | **About the Report** | **P2** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-6 Activities, value chain and other business relationships | **Sustainable governance** | **P61** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-7 Employees | **Focus on Personnel Development and Training** | **P50** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-9 Governance structure and composition | **Sound Governance** | **P54-56** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-10 Nomination and selection of the highest governance body | **Sound Governance** | **P54-56** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-11 Chair of the highest governance body | **Sound Governance** | **P54-56** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-12 Role of the highest governance body in overseeing the management of impacts | **Sound Governance** | **P54-56** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-13 Delegation of responsibility for managing impacts | **Responsible Governance** | **P61-70** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-14 Role of the highest governance body in sustainability reporting | **Sound Governance** | **P54-56** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-16 Communication of critical concerns | **Responsible Governance** | **P61-66** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-17 Collective knowledge of the highest governance body | **Responsible Governance** | **P61-66** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-18 Evaluation of the performance of the highest governance body | **Responsible Governance** | **P61-66** |
| &nbsp;&nbsp;&nbsp;**GRI 2: General Disclosures 2021** | 2-19 Remuneration policies | **Focus on Personnel Development and Training** | **P50-52** |

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| | | | |
|:---|:---|:---|:---|
|  | 2-20 Process to determine remuneration | **Focus on Personnel Development and Training** | **P50-52** |
|  | 2-22 Statement on sustainable development strategy | **Responsible Governance** | **P62--63** |
|  | 2-23 Policy commitments | **List of Measures and Regulations** | **P72-73** |
|  | 2-24 Embedding policy commitments | **Responsible Governance** | **P62-66** |
|  | 2-25 Processes to remediate negative impacts | **Sustainable governance** | **P56-61** |
|  | 2-26 Mechanisms for seeking advice and raising concerns | **Sustainable governance** | **P56-61** |
|  | 2-27 Compliance with laws and regulations | **Sound Governance** | **P54-56** |
|  | 2-28 Membership associations | **Recognitions in 2022** | **P7-8** |
|  | 2-29 Approach to stakeholder engagement | **Responsible Governance** | **P66-70** |
| &nbsp;&nbsp;&nbsp;**GRI 3: Material Topics 2021** | 3-1 Process to determine material topics | **Responsible Governance** | **P66-70** |
| &nbsp;&nbsp;&nbsp;**GRI 3: Material Topics 2021** | 3-2 List of material topics | **Responsible Governance** | **P66-70** |
| &nbsp;&nbsp;&nbsp;**GRI 3: Material Topics 2021** | 3-3 Management of material topics | **Responsible Governance** | **P66-70** |
| &nbsp;&nbsp;&nbsp;**GRI 201: Economic Performance 2016** | 201-1 Direct economic value generated and distributed | **About Us** | **P6-7** |
| &nbsp;&nbsp;&nbsp;**GRI 201: Economic Performance 2016** | 201-2 Financial implications and other risks and opportunities due to climate change | **Promoting Low-carbon Operations** | **P14-20** |
| &nbsp;&nbsp;&nbsp;**GRI 201: Economic Performance 2016** | 201-3 Defined benefit plan obligations and other retirement plans | **Converging Multiple Products** | **P21-24** |
| &nbsp;&nbsp;&nbsp;**GRI 203: Indirect Economic Impacts 2016** | 203-1 Infrastructure investments and services supported | **Sticking to Responsible Investment;**<br> **Converging Multiple Products** | **P11-13,**<br> **P21-24** |
| &nbsp;&nbsp;&nbsp;**GRI 203: Indirect Economic Impacts 2016** | 203-2 Significant indirect economic impacts | **Sticking to Responsible Investment;**<br> **Converging Multiple Products** | **P11-13,**<br> **P21-24** |
| &nbsp;&nbsp;&nbsp;**GRI 204: Procurement Practices 2016** | 204-1 Proportion of spending on local suppliers | **Sustainable governance** | **P61** |
| &nbsp;&nbsp;&nbsp;**GRI 205: Anti-corruption 2016** | 205-1 Operations assessed for risks related to corruption | **Sustainable governance** | **P56-61** |
| &nbsp;&nbsp;&nbsp;**GRI 205: Anti-corruption 2016** | 205-2 Communication and training about anti-corruption policies and procedures | **Sustainable governance** | **P56-61** |
| &nbsp;&nbsp;&nbsp;**GRI 205: Anti-corruption 2016** | 205-3 Confirmed incidents of corruption and actions taken | **Sustainable governance** | **P56-61** |

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**GRI 206: Anti-competitive Behavior 2016** | 206-1 Legal actions for anti-competitive behavior, anti-trust, and monopoly practices | **Sustainable governance** | **P56-61** |
| &nbsp;&nbsp;&nbsp;**GRI 301: Materials 2016** | 301-1 Materials used by weight or volume | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 302: Energy 2016** | 302-1 Energy consumption within the organization | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 302: Energy 2016** | 302-3 Energy intensity | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 302: Energy 2016** | 302-4 Reduction of energy consumption | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 302: Energy 2016** | 302-5 Reductions in energy requirements of products and services | **Promoting Low-carbon Operations** | **P14-20** |
| &nbsp;&nbsp;&nbsp;**GRI 303: Water and Effluents 2018** | 303-1 Interactions with water as a shared resource | **Promoting Low-carbon Operations** | **P14-20** |
| &nbsp;&nbsp;&nbsp;**GRI 303: Water and Effluents 2018** | 303-2 Management of water discharge-related impacts | **Promoting Low-carbon Operations** | **P14-20** |
| &nbsp;&nbsp;&nbsp;**GRI 303: Water and Effluents 2018** | 303-3 Water withdrawal | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 305: Emissions 2016** | 305-1 Direct (Scope 1) GHG emissions | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 305: Emissions 2016** | 305-2 Energy indirect (Scope 2) GHG emissions | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 305: Emissions 2016** | 305-4 GHG emissions intensity | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 305: Emissions 2016** | 305-5 Reduction of GHG emissions | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 306: Waste 2020** | 306-1 Waste generation and significant waste-related impacts | **Promoting Low-carbon Operations** | **P14-20** |
| &nbsp;&nbsp;&nbsp;**GRI 306: Waste 2020** | 306-2 Management of significant waste-related impacts | **Promoting Low-carbon Operations** | **P14-20** |
| &nbsp;&nbsp;&nbsp;**GRI 306: Waste 2020** | 306-3 Waste generated | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 306: Waste 2020** | 306-5 Waste directed to disposal | **Table of KPI** | **P74-78** |
| &nbsp;&nbsp;&nbsp;**GRI 308: Supplier Environmental Assessment 2016** | 308-1 New suppliers that were screened using environmental criteria | **Sustainable governance** | **P56-61** |
| &nbsp;&nbsp;&nbsp;**GRI 308: Supplier Environmental Assessment 2016** | 308-2 Negative environmental impacts in the supply chain and actions taken | **Sustainable governance** | **P56-61** |
| &nbsp;&nbsp;&nbsp;**GRI 401: Employment 2016** | 401-1 New employee hires and employee turnover | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 401: Employment 2016** | 401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees | **Focus on Personnel Development and Training** | **P50-53** |

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**GRI 403: Occupational Health and Safety 2018** | 403-2 Hazard identification, risk assessment, and incident investigation | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 403: Occupational Health and Safety 2018** | 403-3 Occupational health services | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 403: Occupational Health and Safety 2018** | 403-4 Worker participation, consultation, and communication on occupational health and safety | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 403: Occupational Health and Safety 2018** | 403-5 Worker training on occupational health and safety | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 403: Occupational Health and Safety 2018** | 403-6 Promotion of worker health | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 403: Occupational Health and Safety 2018** | 403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 403: Occupational Health and Safety 2018** | 403-9 Work-related injuries | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 403: Occupational Health and Safety 2018** | 403-10 Work-related ill health | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 404: Training and Education 2016** | 404-1 Average hours of training per year per employee | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 404: Training and Education 2016** | 404-2 Programs for upgrading employee skills and transition assistance programs | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 405: Diversity and Equal Opportunity 2016** | 405-1 Diversity of governance bodies and employees | **Focus on Personnel Development and Training;**<br> **Sound Governance** | **P50-53,**<br> **P54-56** |
| &nbsp;&nbsp;&nbsp;**GRI 406: Non-discrimination 2016** | 406-1 Incidents of discrimination and corrective actions taken | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 408: Child Labor 2016** | 408-1 Operations and suppliers at significant risk for incidents of child labor | **Focus on Personnel Development and Training** | **P50-53** |
| &nbsp;&nbsp;&nbsp;**GRI 409: Forced or Compulsory Labor 2016** | 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor | **Focus on Personnel Development and Training;**<br> **Sustainable governance** | **P50-53,**<br> **P56-61** |

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**GRI 413: Local Communities 2016** | 413-1 Operations with local community engagement, impact assessments, and development programs | **Serving National Strategies;**<br> **Mobilizing Public Welfare Efforts** | **P41-45,**<br> **P45-50** |
| &nbsp;&nbsp;&nbsp;**GRI 418: Customer Privacy 2016** | 418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data | **Deepening Scientific and Technological Innovation** | **P27-31** |

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**Feedback Form** 

Dear Reader,

Thank you very much for reading this report. We sincerely wish to have your comments on this report to help us continuously improve our social responsibility efforts and enhance our ability to perform social responsibility.

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You may give us your feedback in the way as described below:

Tel: +86-10-63631221

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Fax: +86-10-66575112

Email: shenhuiying@e-chinalife.com

Address: F12 Tower A, China Life Plaza, No. 16, Finance Street, Xicheng District, Beijing

Zip Code: 100033

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**Exhibit 99.1**![LOGO](g480514dsp001.jpg)

China Life Insurance Company Limited 2022 Environmental, Social and Governance & Social Responsibility Report

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![LOGO](g480514dsp002.jpg)

Contents About the Report 02 Message from the Chairman 04 Performance Highlights 2022 06 01 Engine of China Life Practicing Green Finance 14 Sticking to Responsible Investment 16 Promoting Low-carbon Operations 18 About Us 08 Recognitions in 2022 10 Statement by the Board of Directors 11 02 Efforts of China Life Converging Multiple Products 26 Deepening Scientific and 29 Technological Innovation Building Smart Services 34 03 Responsibilities of 04 China Life Credit of China Life Serving National Strategies 44 Sound Governance 56 Mobilizing Public Welfare Efforts 47 Sustainable Governance 58 Focus on Personnel Development 51 Responsible Governance 61 and Training List of Measures and Regulations 68 Table of KPI 69 ESG Index 72 GRI Index 75 Feedback Form 79

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![LOGO](g480514dsp003.jpg)

02 About the Report This report is the 16th Environmental, Social and Governance Report of China Life Insurance Company Limited (hereinafter referred to as "China Life"). This report aims at responding to stakeholders' expectations and demonstrating its concept, actions and performance related to the environment, society, corporate governance and sustainable development. Organizations Covered by the Report If not specified, all data and information disclosed in the report cover China Life. Its subsidiaries are excluded. Notes on the Data of the Report The key financial data of this report came from the audited 2022 Annual Report of China Life Insurance Company Limited and other data from the Company's internal documents and related statistics. Time Range of the Report From January 1 to December 31, 2022, with part of the content in excess thereof. Basis for Report Preparation The report is prepared in accordance with Environmental, Social and Governance Reporting Guide issued by HKEX, Notice on Strengthening Listed Companies' Assumption of Social Responsibility and the Shanghai Stock Exchange' Guidelines on Listed Companies' Environmental Information Disclosure issued by Shanghai Stock Exchange and discloses information as per Global Reporting Initiative's (GRI) Sustainability Reporting Guidelines. Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 03 Notes on Appellation For the convenience of expression and reading, China Life Insurance Company Limited is hereinafter referred to as "China Life" "the Company" or "we". If not specified, the amount is shown in RMB (yuan). Reporting Period This is an annual report. How to Obtain the Report The report is release in online version. You can browse and download the Simplified Chinese, Traditional Chinese, and English versions of the report at the following website: The official website of the Company (www.e-chinalife.com) The website of Shanghai Stock Exchange (www.sse.com.cn) The website of SEHK (www.hkex.com.hk)

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![LOGO](g480514dsp004.jpg)

04 Message from the Chairman The 20th National Congress of the Com- from MSCI, an international authoritative Our accumulated size of green investment munist Party of China in 2022 drawed an rating agency, which indicates that we are at in stock has surpassed RMB 430 billion. ambitious blueprint to advance the great the forefront of the domestic life insurance We've also achieved a paperless rate of rejuvenation of China on all fronts through industry. Our pursuit of excellence has also nearly 100% for personal long-term insur-a Chinese path to modernization. As a garnered numerous accolades, including ance purchases, an online policy service rate company with deep roots in China, China the Best Investment Value Award for Listed of over 92% and an electronification rate of Life is dedicated to following the guidance Companies of the China Securities Golden over 90% for claim settlements. We have of Xi Jinping's Thought on Socialism with Bauhinia Award and the Best Life Insurance created a full process of online services by Chinese Characteristics for a New Era. Company of the Year in Asia. We are proud making effective use of data to ensure that We actively implement the decisions and to have embarked on a "China Life ESG customers can easily accomplish their tasks. arrangements made by the CPC Central Road" with Chinese characteristics that Over the past year, we have remained com-Committee, with a steadfast focus on the align with international standards. mitted to our insurance roots, supporting precautionary function of insurance and Over the past year, we have incorporated major national strategies and leading the the principle of "insurance is for guaran- the goal of "Two Mountains Theory" and industry. Our focus on core responsibilities tee, insurance is for people". As a national sustainable development as well as carbon and businesses has contributed to the con-financial enterprise and "main force" with peaking and carbon neutrality into our op- struction of a multi-level social security sys-high-quality development, China Life is erations and management. By establishing a tem. By promoting inclusive insurance and committed to fully leveraging its exemplary new engine of green finance, we have added policy-related businesses, we've undertaken role. With a total market value that surpass- vibrancy to the Beautiful China initiative. over 200 critical illness insurance projects, es most insurance companies worldwide, Through green finance, we are promoting resulting in a reduction of more than RMB China Life is a leading insurance company green development and actively serving cus- 25 billion in medical costs for our insured that prioritizes sustainability and corporate tomers in the green industry while comple- customers. In addition, we have imple-social responsibility. Our widely recognized menting insurance coverage and liabilities. mented more than 100 city-specific medical ESG practices have earned us a BBB rating Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 05 insurance projects. Our commitment to We also recognize the unique insurance and green financial management structure serving the aging population has led us to needs of elderly customers, and we have de- with primary responsibility resting with the establish personal pension businesses in 36 veloped several service models to meet and board of directors, and established a sustain-cities. We are dedicated to supporting the accommodate their needs, providing over able development model that benefits socie-real economy with accumulated investments 25.59 million sessions of services to elderly ty. We are fully committed to implementing exceeding RMB 3.6 trillion. Furthermore, customers. Additionally, we have actively a holistic approach to national security and we've harnessed the power of insurance to carried out a pilot project of occupational integrating ESG risks into our comprehen-help with rural revitalization, with a cumu- injury protection for those employed in new sive risk management system to ensure that lative RMB 239 million in assistance funds businesses, and developed six insurance we maintain a bottom line of zero systemic and deploying nearly 1,000 cadres in 1,048 products for new urban residents. We have risks. paired assistance points. donated more than 11 million public welfare Great visions can be realized only through Over the past year, our unwavering commit- insurance products, leveraging the char- concrete actions. 2023 is the year to fully ment to providing insurance that benefits the acteristic role of commercial insurance in embrace the spirit of the 20th National Con-people has remained steadfast. Our practices assistance. gress of the Communist Party of China and are centered around improving people lives. Over the past year, we have made significant a crucial year to implement the 14th Five-Moreover, we focus our efforts on creating improvements in our corporate governance, Year Plan. It also marks the 20th anniversa-simple, high-quality, and compassionate striking a balance between development ry of China Life's share reform and listing. services. We have provided over 350 mil- and security and laying a solid foundation With determination, foresight, and courage, lion sessions of customer support, and we for China Life. We are actively promoting we will charge at the toughest and aim at have successfully processed over 19 million the organic integration of Party leadership the farthest. Our commitment to advancing claims, consistently ranking among the top and corporate governance, leveraging insti- ESG practices remains unwavering, as we performers in operational efficiency and tutional advantages to improve governance strive to contribute to the Beautiful China customer satisfaction within the industry. efficiency. We have also established an ESG initiative through high-quality development. Chairman of China Life Insurance Company Limited

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 06 07 Performance Highlights 2022 E China Life developed 84 upgraded existing 4 n Paid out to cases in critical illness insurance g Life new products products i Developed a Green Finance Development 18 million n The paperless insurance eEfforts China Life was one of the first insurance o Strategy (2023—2025) coverage rate of personal f business approached of Medical expenses of more than institutions to launch the personal pension business C 25 i h RMB billion a n 100% By 31 December 2022, a range of By December 31, 2022, China Life's accumulative size of China age-friendly services were provided to 25.59 million i L green investment in stock exceeded The rate of electronic elderly customers f The average lead time e claim settlement exceeded RMB 430 billion of claim settlement was 0.43 day 90% China Life was the first in the industry to be certified the of the National Data Management Capability Maturity The claim settlement rate was 99.65% highest level (Level 5) CR C China Life was rated Class A in the Corporate Entity Business he By December 31, 2022, r is e Evaluation for Insurance Companies for 7 consecutive years np had invested cumulative in assistance through d a Had employees i n o in rural assistance conception t i Ls o i f fb RMB 239 million RMB 138 million 100,378 e i C l h China Life was rated China Life has built an ESG and green finance i t i i n e By December 31, 2022, with female employees a s BBB in the MSCI ESG Scoring management framework f o China investments Life had of in made the real cumulative economy 3.6 trillion i L 56.51% f e development over in serving economies regional 2.3 trillion The average training hours per employee were Donated benefit insurance public more than 11million people 114.56 hours

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 08 09 About Us Corporate Culture China Life, headquartered in Beijing, is same age as that of the People's Republic of 19 thousand branches across the country1 an industry leader in China's life insur- China. Established in October 1949 and ap- and employed over 100 thousand people ance industry, with a registered capital of proved by the central government, it is one and 729 thousand exclusive individual RMB 28.265 billion. As a core member of of the earliest insurance companies in China agents in various channels. China Life is a China Life Insurance (Group) Company, and shoulders the important responsibility leading provider of individual and group life the company is one of the Fortune Glob- as an explorer and pioneer of China's life insurance, annuity, and accident and health al 500 companies and the World's 500 insurance industry. During the long-term de- insurance in China. As of December 31, Most Influential Brands. The company velopment course, the company has fostered 2022, the Company's total assets reached has won the trust of the society with its a stable professional management team, ac- RMB 5.25 trillion. It had 325 million in-long history, strong strength, professional cumulated rich management experience, and force long-term individual and group life expertise, competitive advantage and a is well versed in the domestic life insurance insurance policies, annuity contracts, long-world-famous brand. It has been a pace- market. China Life was listed overseas in term health insurance and long-term acci-setter in China's life insurance market December 2003 and returned to the domes- dent insurance policies, as well as individual and is known as the "mainstay" of China's tic A-share market in January 2007. and group accident insurance and short-term insurance industry. In 2022, China Life registered a premium health insurance policies and services. The predecessor of China Life was the income of RMB 615.19 billion. It comprised 1 Including provincial branches and municipal branches, sub-branches, business departments, and marketing service departments. China Life's Corporate Culture System Mission Serve China's overall development and protect the people's gppd ;ofe Vision: Build a world class life insurance company Core Values: Fulfill ourselves to benefit others and full others to benefit ourselves Business Philosophy: Integrity, Innovation, people-centricity and value Brand Slogan: Life-long promise, life-long partner

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10 Recognitions in 2022 Forbes Fortune Ranked 71st on the Forbes list of Global 2,000 List- Ranked 9th on Fortune's China 500 list for 2022 ed Companies in 2022 Hong Kong Ta Kung Wen Wei Media Group, Beijing Association of Listed Companies, Hong Kong Chinese Enterprises Association, Hong Kong China Finance As- 21st Century Business Herald sociation, Chinese Securities Association of Hong Kong Best Life Insurance Company of the Year in Asia 2022 and The Hong Kong Chartered Governance Insurance Company with Brank Influence in 2022 The 12th (2022) China Securities Golden Bauhinia Award Best Investment Value Award for High-quality Development Listed Companies Securities Times 2022 Ark Awards for Insurance Companies China Investment Network 2022 Ark Award for High-Quality Development Insurance Companies Influential Company 2022 of Jinxi Awards 2022 Ark Award for Golden Insurance Services 2022 ESG Green Star 2022 Ark Award for Insurance Companies of Excellence in Social Responsibility Hexun.com JRJ.com Influential Insurance Company of the Year 2022 Global Insurance Technology Enterprise Award Social Responsibility Award 2022 21st Century Business Herald Caijing Outstanding Customer Service of the Year 2022 Sustainable Development and Inclusion Award Outstanding Digital Transition of the Year 2022 of Evergreen Awards China Banking and Insurance News Investor China Top 10 Social Responsibility Reports of Jinnuo Awards Enterprise of the Year in ESG Practice of Jinqiao Prize Sina Finance Jiemian News ESG Golden Awards for China Enterprises in 2022 Excellent Corporate Social Responsibility Award of Best Company in Governance Responsibility Top 60 ESG Pioneers in 2022 Best Insurance Company in Responsible Investment Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 11 Statement by the Board of Directors The Board of Directors of China Life implements the ESG strategic goal of "building a world-class and responsible life insurance company." The Board plans to create a sound ESG work system with China Life's characteristics by 2025, including establishing an ESG governance scheme, improving ESG policies and systems, enhancing the ESG risk management system, implementing special ESG actions, exploring the application of digital technology in ESG management, strengthening ESG information disclosure, and increasing industry influence and recognition. China Life's original ESG governance structure has been upgraded to an ESG and green finance management structure with the Board of Directors as the responsible body. The Board of Directors, the Strategy and Asset-Liability Management Committee of the Board, the President's Office, the ESG/Green Finance Committee, and relevant departments and branches of the head office are assigned with clarified responsibilities. An ESG and green finance management structure with China Life's characteristics has been formed. China Life prioritizes the process of determining material ESG topics and protecting stakeholders' rights and interests. The Company conducts a materiality assessment for ESG topics every year based on the macro economic and social environment and the Company's development strategy, in which the Company's ESG risks and opportunities are discusses and determines. Management and improvement of key material topics are considered as an annual priority for ESG work The Board of Directors reviews and confirms the assessment results. It considers the material topics as part of the Company's overall strategy development and oversees the management and performance of these topics. In 2022, the Board of Directors reviewed four ESG-related proposals. Time of deliberation ESG item for deliberation March 24, 2022 • The Company's 2021 Environmental, Social and Governance & Social Responsibility Report was deliberated. • The Company's Rules of Procedure for the Strategy and Asset-Liability Management Com- October 27, 2022 mittee of the Board of Directors was revised, with ESG and green finance-related management responsibilities were organically embedded in the Company's governance structure. • The Company's Green Finance Development Strategy (2023—2025) was deliberated. December 15, 2022 • The Company's ESG and green finance management framework and the Regulations of Environmental, Social and Governance and Green Finance Management were deliberated. This report provides detailed information on the progress and effectiveness of China Life's ESG efforts in 2022 and was deliberated and adopted by the Board of Directors on March 29, 2023.

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 12 13 Engine of 01 China Life China Life thoroughly implements the CPC Central Committee's decisions and arrangements for promoting green development. In accordance with the Guidelines on Green Finance for the Banking and Insurance Industries issued by the China Banking and Insurance Regulatory Commission, the Company is advancing its green finance initiatives. With a robust green financial strategic deployment, a responsible investment approach, and an environmentally-friendly low-carbon business model, China Practicing Green Finance Life is well-positioned for continued sustainable growth. Sticking to Responsible Investment Promoting Low-carbon Operations

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14 Practicing Green Finance In 2022, China Life facilitated economic activities that brought positive impacts to both the environment and society. To further our commitment to sustainability, we developed a Green Finance Development Strategy (2023—2025). This strategy outlines the development goals and priorities in the Company's green finance initiatives, peaking carbon emissions and ultimately achieving carbon neutrality in a systematic manner. China Life's overall goal of green finance We will adhere to the new development philosophy that advocates innovation, coordination, green, openness, and collaboration in fulfilling the CPC Central Committee's strategic arrangements for carbon peaking and carbon neutrality. We aim to establish a sound model for green development and comprehensively and systematically integrate the concept of green development into all aspects of our operations and management. As a leader in green finance, we will build a green financial system with China Life's characteristics that contribute to social sustainability. 02 01 Enhance the innovation and supply capacity for green insurance products and services China's Life's • Continuously monitor the impact of ESG priorities in green finance factors on the industry and timely intro-Build a governance system for green fi-duce products as needed by regulators, nance market environment, and business require- • Adhere to the green financial development ments; philosophy, fulfill the requirements of • Improve the availability of green insurance green development, and integrate the con-services and improve the capacity and cept of green development into corporate quality of green financial services; governance, business development, risk management, corporate culture, and infor- • Ensure the steady growth of the premium mation disclosure; scale and coverage of major green insurance products. • Pursue a business model that balances self-growth and social responsibility and create a green financial system with China Life's characteristics. Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 15 05 04 Comprehensively improve green financial performance in all aspects • Adhering to the ESG strategic goal of Insist on green operations "building a world-class and responsible 03 life insurance company," internalize the • Integrate the low-carbon concept into all concept of green development into the aspects of the Company's operations and whole process and areas of the Company's achieve the overall environmental goal high-quality development; "to ensure eco-friendly operations and Practice the green investment philosophy • Improve the green financial system and contribute to the achievement of carbon internal control management for the neutrality" through green sales, green • Continue to improve the ESG/green Company to achieve superior green fi-operations, green offices, green procure-investment system and enhance green nancial performance and top ESG ratings ment, and green living; investment capabilities; within the Chinese insurance industry. Incorporate green investment considera- • Continue to promote the Company's online, • intensive, and intelligent operation services. tions throughout the asset allocation process and expand investment strategies; • Maintain the steady growth of green investment stocks and reduce the carbon intensity of the asset portfolio in a progressive with the ultimate goal of achieving a carbon-neutral investment portfolio. To support the development of green indus- and made green insurance a key metric in In 2022, China Life has provided a total of tries, we have expanded our insurance ser- evaluating our operations and corporate vices to better serve customers in the green responsibility. We have increased our efforts 417.81billion sector. We have progressed in the devel- to attract customers in green industries. Ad- RMB opment of a green insurance intelligent re- ditionally, we have enriched our insurance in insured amounts. porting system, which helps us monitor the product portfolio and launched preferential performance of our green insurance opera- rates. We provide a personal insurance tions and improve our overall sustainability package that includes accident, medical, and capabilities. To incentivize our branches to life insurance for upstream and downstream serve customers in green industries, we have enterprises in the green industry chain ac-intensified our green insurance assessments cording to customer needs.

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16 Sticking to Responsible Investment China Life thoroughly practice the concepts of responsible investment and green finance. We As of December 31, 2022, our cumulative have enhanced our responsible investment management system and incorporated ESG into the green investment in stock exceeded investment analysis and decision-making process to drive the transformation of our investment and financing structures toward sustainability. We have defined the major objectives, use of funds, and implementation paths of key green investment segments in entrusted investment RMB guidelines and intensified the assessment of managers' progress in green investment. We have 430billion enriched and improved our portfolio of green investment strategies and promoted the establishment of market-oriented ESG green financial entrustment portfolios. China Life Asset Management Company Limited (CLAMC) is our primary investment platform, As of December 31, 2022, the stock of green committed to "serving national strategies, the real economy, and society and people's livelihood." bonds entrusted with CLAMC's accounts ex-CLAMC has developed the ESG/Green Investment Basic Guiding Rules of China Life Asset Man-ceeded agement Company Limited (for Trial Implementation), which set green investment as the central focus of business development and fully integrate it into the Company's plan for the 14th Five-Year Plan. CLAMC is taking comprehensive steps to enhance its responsible investment performance, including ESG evaluations, investment infrastructure, talent, external exchanges and cooperation, and RMB 230 billion internal project expansion. Responsible investment performance of CLAMC, China Life's major investment platform Incorporating ESG assess- CLAMC fully recognizes the importance of ESG assessments in the investment process. It has refined its green investment lists and incorporated ESG assessments into the decision-making process of bond, ments into the investment equity, and fixed income investment projects. This helps guide companies we invested to understand process the investment requirements of the positive and negative lists and to promote improvements in their environmental performance and disclosure through the exercise of our investor rights. Seeking exchanges and Since joining the United Nations Principles for Responsible Investment (UN PRI) and other international organizations, CLAMC has been exploring investment opportunities in ESG. It is looking collaboration with other organizations for ways to integrate ESG topics with the Company's business and to fully boost the sustainable and healthy development of the green financial industry. Facilitate the implemen- In 2022, CLAMC coordinated economic, social, and environmental benefits in China Life's Reform and Development Equity Investment Scheme (Phase I) for State-Owned Enterprises in Yunnan, China Life's CNNC No. 1 tation of green investment projects Equity Investment Scheme, and other projects. Additionally, CLAMC published industry ESG indices to provide references for investors to grasp ESG investment concepts and standards. Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 17 CLAMC has established an industry-leading ESG evaluation scheme that features ESG ratings and continuously improved it by refining its ESG rating policies, data, models, talent, and systems. Based Focusing on ESG invest- on the scheme, CLAMC conducts intensive ESG evaluations. It has more than 2,200 evaluation ob-ment infrastructure jects from different industries, which are highly representative, differentiated, and scalable. At present, CLAMC's ESG ratings are conducted on a regular basis with a regular and irregular tracking and review mechanism, which favors continuous optimization and further deepening of the application. CLAMC has an ESG Rating Department, staffed by employees who specialize in ESG ratings through assessments, reviews, and evaluations, to preliminarily established a professional ESG rating team. In Special emphasis on 2022, CLAMC strengthened the talent teams for strategic research and judgment, investment, product design, and risk management. In addition to training the investment research team, CLAMC collabo-investment talent rates with several industry-leading institutions to exchange share insights on ESG and best practices in the industry to better implement the overall ESG investment approach and masterthe growing trend of ESG investment. China Life's major green investment projects in 2022 Project Description Reform and Development In the Reform and Development Equity Investment Scheme (Phase I) for State-Owned Enterprises Equity Investment Scheme in Yunnan, China Life invested RMB 9 billion as equity investment in Yunnan Dianzhong Water (Phase I) for State-Owned Diversion Project Co., Ltd. to promote the dual cycle of green finance and ecological civilization Enterprises in Yunnan construction. In the CNNC No. 1 Equity Investment Scheme, China Life invested RMB 2.053 billion and became the CNNC No. 1 Equity Invest- largest strategic investor and second largest shareholder of CNNP Rich Energy, the core platform of Chi-ment Scheme na National Nuclear Corporation (CNNC) for new energy development, construction, and operation, as a way to contribute to China's carbon peaking and carbon neutrality strategy. In the Xinyuan No. 1 Equity Investment Scheme, China Life signed a partnership contract with an entity of China Energy Investment Corporation for joint investment in wind, photovoltaic, and other Xinyuan No. 1 Equity Invest-clean energy projects. This project, which supported the transition of China's energy structure and ment Scheme green development, was reported as a case in the 2021 Practice Report on Green Finance of the Asian Financial Cooperation Association2. In the Yunnan Energy Investment Project, China Life invested RMB 900 million to support Yunnan Yunnan Energy Investment Provincial Energy Investment Group Co., Ltd. (Yunnan Energy Investment). The funds were used to Project serve infrastructure construction in Yunnan, support Yunnan Energy Investment to boost the green energy industry, and increase investment in new energy and other areas. In the Debt Investment Scheme for Urumqi Municipal Integrated Pipeline Infrastructure, China Life Debt Investment Scheme for invested RMB 1,000 million in the underground integrated pipeline in Urumqi. The purpose was to Urumqi Municipal Integrated progress infrastructure construction in Urumqi, the core node of the Silk Road Economic Belt and Pipeline Infrastructure improve its capacity and performance of public services provision. China Life funded a RMB 1.5 billion ESG green financial portfolio. It set ESG and green finance-related investment targets, investment scope, and risk control in the investment guideline to guide Funding in the ESG Green the investment portfolio to stocks and bonds in line with "value investment, green investment, and Financial Portfolio responsible investment" in secondary-market transactions. By appointing and setting market-oriented entrusted investment portfolios, the Company became one of the first institutional investors to launch entrusted ESG investment. 2 The Company launched CLAMC's Xinyuan No. 1 Equity Investment Scheme in 2021, which had a contract scale of RMB 1.5 billion, and the funding started in 2022.

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18 Promoting Low-carbon Operations Carbon Peaking and Carbon Neutrality In our active response to the state's strategic goals of Cases 2022 carbon peaking and carbon neutrality, we comprehensively and systematically integrate the concept of green development into the Company's every aspect of operation and management processes and create new patterns for low-carbon development. China Life's Solution for Focusing on the Goals of Carbon Peaking and Carbon The Second Prize Neutrality and Boosting Green Development won the second prize of Carbon Peaking and Carbon Neutrality Cases 2022. We are proud to be the only life insurance company to receive this prestigious award. China Life's environmental goals Energy conservation and better resource To ensure efficiency eco-friendly operations and contribute to the achievement of carbon neutrality Low-carbon investment and serving the green finance Digital administration and championing a low-carbon lifestyle Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 19 Energy conservation and consumption reduction As a financial service institution, China Life's main business activities have a limited impact on the ecological environment and natural resources. In 2022, the Company intensified our environmental management efforts and implemented multiple measures to meet our environmental goals. The Company strictly observe the Environmental Protection Law of the People's Republic of China, the Law on Energy Conservation of the People's Republic of China, and other applicable laws and regulations. We have Interim Measures for Energy Conservation and Emission Reduction, Fix Asset Management Regulations, and Vehicle Management Regulations in place to manage resource use and energy consumption. Category Targets and measures Launching a wide range of energy conservation and emission reduction initiatives to reduce Scope 13and Scope 24carbon emissions generated in the operation process • Breaking down energy management and keeping a ledger to strengthen energy consumption monitoring; • Ensuring fixed asset allocation and management meets relevant environmental protection requirements and prioritizing the procurement of environmentally-friendly and energy-saving products; • Promoting an automatic control system in buildings to minimize energy consumption under the premise of ensuring normal work in the office; • Increasing the proportion of new energy vehicles in the whole system and phasing out traditional fuel vehicles with poor energy consumption performance; • Increasing efforts in building green data centers, renovating and optimizing existing data centers according to actual production needs, and applying new technologies such as micro-modules in new Greenhouse Gases data centers to improve energy efficiency; (GHG) • Reducing the purchase of traditionally-generated electricity and increasing the share of clean and new energy sources, such as wind, solar power, and hydroelectric power, in power generation. Establishing green offices and increasing promotion and guidance for a green lifestyle to reduce Scope 35 carbon emissions: • Handling business on electronic devices and accelerating the development of digital and intelligent services; • Increasing the promotion and enhancing employees' awareness of the low-carbon lifestyle and encouraging them to adopt such lifestyle through a wide range of promotion campaigns; • Increasing the application of online office devices and reducing carbon emissions from employees' business travel and commuting. Based on market demands, increasing green finance and green investment and green finance products to support the development of green industries. Enhancing employees' awareness of water conservation, recycling and reusing water, installing water-saving Water appliances, increasing inspections of water consumption equipment to prevent water waste due to leaks. Recycling hazardous waste for harmless disposal and reducing non-hazardous waste: • Hazardous waste: intensifying the recycling and reuse of electronic products and delivering hazard-Waste ous waste to designated agencies for recycling. • Non-hazardous waste: encouraging employees to save food and avoid waste, raising their awareness about resource conservation, reducing food waste, kitchen waste, and office waste. 3 Scope 1 refers to direct GHG emissions generated by the Company due to the use of fossil fuels for combustion, production, or transportation. 4 Scope 2 refers to indirect GHG emissions generated by the Company due to the use of purchased energy (purchased power or steam). 5 Scope 3 refers to the GHG emissions indirectly generated by the Company and beyond business control. It primarily includes indirect GHG emissions generated during employees' commuting and business trips.

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20 Highlights for China Life in energy conservation and consumption reduction in 2022 Green operations The Company has made significant efforts to advance its digital transformation and built an integrat- The Company has launched energy-saved Internet setting. It has established the China Life Hybrid Cloud and China Life IoT Technology ing management and transformation of Clusters to support cost reduction, efficiency enhancement, and green and low-carbon operations. office space initiatives to reduce carbon Its use of artificial intelligence extends to product R&D, financial payment, operational services, and emissions. many other processes. It has moved policy maintenance, claims, notification, and financial payment online, resulting in significant improvements in operational efficiency and risk prevention. In 2022: • In terms of new policies, the Company for online policy maintenance, saving • The Company replaced the fillers of the achieved a 99.99% paperless insurance 1,333.73 metric tons of paper. four air-conditioning cooling towers in application rate for personal long-term In terms of claim settlement, over 90% the headquarters building, reduced the insurance businesses, issued 1.627 • operating hours of building self-control, million electronic insurance policies of the Company's settlements were strictly controlled the operating hours for long-term insurance, and achieved a completed online, saving over 100 of central air-conditioning, and replaced 94.12% intelligent underwriting rate and metric tons of paper. high-energy-consuming light sources on a 96% electronic follow-up rate for new some floors. • In terms of notification, the Company policies. These efforts saved over 4,299 received 28.79 million e-notification • The Guangdong Huizhou Branch has set metric tons of paper in long-term insur-from clients, replacing paper author- up a building control system in the office ance applications in one year. ization letters and reducing approxi- area that automatically turns on and off • In terms of policy maintenance, the mately 35.05 million paper letters per the power supply of the corresponding Company created the industry's first year or about 700 metric tons of paper lighting lines at regular intervals to en-intelligent policy service chain, which per year. sure the lights are switched off when no features "99% self-service + 1% re- one is around. This initiative resulted in mote interactive processing = 100% a year-on-year saving of 19,936 kWh in online processing." The Company commercial electricity consumption. achieved a 92.79% self-service rate The Jiangsu Branch replaced and up- • graded its elevators, resulting in Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 21 Digital offices Green data centers Green sales The Company's conference management As per the national guidelines for the con- The Company created an efficient and system enables users to browse conference struction of green data centers, practicing user-friendly online signing platform, and materials online. Users can access electronic intensive and circular development featur- provided intensive training for our salespeo-conference materials on the internet and ing high efficiency and low-carbon, the ple to ensure its effective use. This platform mobile terminals, which efficiently promot- Company improved its technology and man- enables quick access and paperless signing ed green offices. The Company relied on agement, enhanced its green data centers, of contracts for different sales teams. The the videoconferencing system to facilitate and transformed and upgrade its equipment Company performed electronic manage-mobile offices and connect with third-party for energy efficiency. As a result of these ment of sales teams and built e-archives for video link platforms for internal and exter- efforts, China Life's data centers are now them, allowing for easy visualization of any nal conferences. In the year, a 72+1 split- at an industry-leading position in energy changes to their information. screen display was used for the first time to consumption performance. Our Shanghai display more than 200 video terminals of Data Center was recognized as the National the Company's entire system in attending a Green Data Center in 2020. conference in groups. • In 2022, 338 thousand mobile paperless conferences were held on the conference management system. reduced energy consumption and maintenance costs, and a 30% increase in operational efficiency.

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22 Responding to climate change China Life is fully committed to implementing the strategic arrangements for carbon peaking and carbon neutrality and conducting comprehensive climate risk evaluation and management based on recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) of the Financial Stability Board (FSB). In 2022, the Company continued to improve our climate change response system by enhancing our management and identifying opportunities in areas such as governance, strategy, risk identification, indices, and targets. We completed the Company's annual climate change evaluation and drafted countermeasures for the next stage related to our products, operations, and investments. Risk Climate risk Risk classifi- Risk description Countermeasures to risks type factor cation Extreme weather caused by climate change can have a significant impact The Company recognizes the potential ad-on human disease, morbidity, mortal- verse impact of climate change and extreme Acute physical ity, and accidental injury rates. Rising weather on human life and health. It con-risks and temperatures and extreme weather ducts data monitoring, tracks the revision Product chronic events pose a threat to human life and update of experience incidence data in and health over the long term. If the the insurance industry, evaluates the risk of physical risks Company fails to pay attention to changes in incidence rates and the feasibility climate change, its product R&D will of risk transfer via reinsurance. face an adverse impact. The Company fully considers geographic Extreme weather can have a signif- and climate risks when choosing its office icant impact on the offices and data locations and ensures that its business can centers where the Company operates. be operated remotely to avoid the risk of Rising sea levels and urban waterlog- halted operation in case the working place Acute ging can cause chain reactions that becomes unusable. It continuously improves Physical Operations may impact the Company's assets. the disaster recovery capability of its data risks physical risks Additionally, power outages caused centers. Based on existing facilities, it con-by extreme weather can interrupt structs multi-active data centers in different the operation of our data centers, af- places and continues to enhance disaster fecting our information security and resistance of data centers, ensuring business customer service. continuity, and reducing the risk of losses of corporate data and information. The Company monitors national policies and regulatory requirements in relation to climate change and implements relevant Climate change can potentially im- initiatives. It makes rational plans for in-Chronic pact the Company's portfolio returns vestment directions and considers integrat-Investment physical risks and cause financial losses for its in- ing ESG factors into investment strategies. vestment products and business. Additionally, it accelerates green investment and concentrates its investment portfolio on low-carbon, clean energy, and ESG-performing investment targets. Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 23 Risk Climate risk Risk classifi- Risk description Countermeasures to risks type factor cation Climate change-related insurance and The Company implements national policies investment policies are undergoing and follows up on the progress of the industry. adjustments. If the Company fails to It develops green insurance products, opti-Law and Product and investment follow the industry trend and develop mizes the proportion of green and low-carbon policy green insurance, it will not be able investment and investment in carbon-intensive to adapt to the national development industries, and makes science-based and ra-requirements. tional investment strategies. The state's strategic arrangements for carbon peaking and carbon neu- The Company is intensifying its efforts in trality place significant demands on the digital transition and building an online the Company's energy consumption integrated service setting. It launches en-Science and Operations performance. The Company should ergy-efficiency transformation initiatives, technology Tran- balance business development, energy and increases the use of online devices and sition conservation, and consumption reduc- management systems to save more energy risks tion to contribute to the state's vision of consumption. carbon peaking and carbon neutrality. Customers and the market are in- The Company closely monitors industry creasingly focused on the Company's changes and market trends and grasps the performance in tackling climate joint of its business and climate change. It change. Investors and stakeholders actively responds to national policies and have higher expectations for the Market and Product and enriches product supplies according to reg-operations Company's climate action. A lack reputation ulatory requirements. By addressing climate of responses in this area could result change, it establishes and maintains brand in reputation risks, causing the loss assets and trusts with stakeholders. By of potential customers and compro-timely disclosing corporate ESG progress, it mising stakeholders and investors' installs an image of a responsible brand. relevant decision-making. In 2022, China Life fully identified opportunities arising from climate change and incorporated them into our day-to-day management. Product Operations Investment The Company optimized and enriched prod- The Company accelerated digital transition The Company increased green investment to uct varieties; improved customer service; under the framework of relevant national contribute to the national actions to climate created a positive image by advertising for policies and laws; launched energy efficien- change responses, the goals of carbon peaking our public benefits; and enhanced all em- cy renovations and equipment upgrades at and carbon neutrality, and low-carbon and ployees' low-carbon awareness. our operation sites; continued to promote sustainable development. We participated paperless office work; and encouraged em- in investing in green areas and continued ployees to practice a low-carbon lifestyle. to increase investment in green industries The Company established a positive reputa- such as clean energy, energy conservation, tion by implementing national policies. We environmental protection, and pollution pre-hosted and participated in public welfare vention and control. The Company optimized campaigns related to climate change, miti- and adjusted our investment strategies and gating climate change with practical actions. strengthened our cooperation with relevant departments and institutions to jointly promote green investment and ecological construction.

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 24 25 02 Efforts of China Life guided by national strategies and remain committed to promoting enterprise development through practical work. This includes continuous upgrades to our services using intelligent technolo-China Life gies, the launch of diverse products and services, and a strong focus on improving the customer service quality. As we strive to meet the evolving needs of our customers and contribute to the development of China, we're always mindful of the best interests of the nation. Converging Multiple Products Deepening Scientific and Technological Innovation Building Smart Services

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26 Converging Multiple Products China Life has actively responded to the state's call for innovation by strengthening its product and service offerings based on local needs. Our commitment to meeting the diverse insurance needs of our customers through a range of professional and diversified products and services underscores our desire to contribute to the overall development of the country and improve people's quality of life. In 2022, we launched 84 new products and made changes to 4 existing ones. Building a system of inclusive insurance products China Life is committed to developing inclusive insurance products that address diverse needs, including critical illness insurance, long-term care insurance, city-specific commercial medical insurance, tax-deductible health insurance, tax-deferred endowment insurance, and special commercial endowment insurance. We also offer affordable health and accident insurance with broad coverage to provide our customers with a comprehensive range of inclusive insurance options. Critical illness insurance Long-term care insurance As of December 31, 2022, As of December 31, 2022, China Life has undertaken over providing coverage to nearly nearly 60 200 critical 350 million long-term care insurance projects illness insurance projects urban and rural residents have been undertaken In 2022, the critical illness with the total amount exceeding covering more than insurance paid out over 18 million claims RMB 25 billion 27 million people City-specific commercial medical insurance As of December 31, 2022, China Life has also successfully launched with The cumulative number of insured more than individuals for these projects exceeded 100 50 city-specific commercial medical insur- of these being new projects 22 million ance projects launched in 2022 Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 27 China Life has developed a comprehensive range of inclusive insurance products and services, with a focus on increasing protection for specific risk groups such as the elderly, women, children, and new urban residents. Student China Life has upgraded two comprehensive accident insurance products and developed four new ones to expand the cov-and child erage content and scope of students' medical insurance. insurance As of December 31, 2022, China Life insured near 90 million person-time students with total insurance coverage of RMB 28.5 trillion. The liability design and disease range of current women's disease group insurance products have been upgraded to im-Women's prove the flexibility of disease coverage and insurance liability combination. insurance As of December 31, 2022, China Life insured more than 9.55 million person-time specific women groups with total insurance coverage of RMB 1.26 trillion. China Life provides insurance protection for families, pregnant women, newborns, and other groups that meet the requirements Family of the national family planning policy. The Company is committed to driving sustained and sound development in the family planning planning insurance business, striving to earn the government's confidence and the people's satisfaction. insurance As of December 31, 2022, China Life insured more than 30 million person-time that comply with family planning regulations with total insurance coverage of RMB 1.79 trillion. • China Life has upgraded a health insurance product for the elderly, providing disease insurance coverage for diseases that are with high incidence among the elderly, including malignant tumors in specific parts serious and severe primary Parkinson's disease and severe chronic renal failure. • The Company has developed the "Zunyi Rensheng" product portfolio, adopting the design mode of main insurance (annuity) Old age + additional care insurance. This product portfolio provides annuity, survival benefits, care for specific diseases and accidental insurance injuries and disabilities to meet the needs of customers for pension and nursing care. • Two accident insurance products for the elderly, namely "China Life Xiyanghong Specific Accident Insurance (A)" and "China Life Yin Ling An Kang Comprehensive Accident Insurance (A)", were upgraded to fully protect the elderly. As of December 31, 2022, China Life has provided accident insurance coverage for approximately 54.95 million policy-holders, with a total insurance coverage exceeding RMB 3.0 trillion. In view of the increasing number of migrants and the increasing demand for social security brought about by urbanization, the Company launched new urban resident insurance. • Two accident insurance products targeting accidents in construction projects, including the "China Life Construction Projects Group Accident Insurance (C), have been created to cater to the specific risks of construction workers and engineering project managers. • "China Life New Business Group Accident Insurance" has been developed to provide basic accident insurance coverage for food delivery riders and ride-share drivers while also providing specific insurance protection for riding accidents, New urban resident motor vehicle accidents, fractures, and sudden death. Additionally, two medical insurance products, including the "Chi-insurance na Life New Business Group Accident Expense Compensation Medical Insurance (A)", have been developed to offer targeted medical insurance coverage. • "China Life Migrant Worker Group Comprehensive Accident Insurance" has been designed to provide insurance liabilities, such as accidental death, accidental medical treatment, and hospitalization benefits, for rural and urban migrant workers. • The Company has also been actively carrying out a pilot project of occupational injury protection for employees with new employment forms and has successfully won bids for four provincial projects in Beijing, Jiangsu, Sichuan, and Guangdong.

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28 Case: China Life launches its first individual pension product On November 23, 2022, China Insurance IT Management Co., Ltd. announced the first batch of individual pension insurance products, which included China Life's first individual pension product, "China Life Xinxiangbao Special Commercial Endowment Insurance (Individual Pension)". This product offers five key features, including stability and transparency, broad coverage, flexible payment, easy operation and attentive customer service, and tax deferral benefits, helping individuals provide for their elderly years. Case: China Life supports micro, small and medium-sized enterprise development In 2022, China Life launched "Yuan Fu Bao", a customized accident insurance portfolio product designed to support the development of micro, small, and medium-sized enterprises. To streamline the insurance purchase process, the company introduced an innovative online policy issuance model that is fast and efficient. This model includes automatic insertion of historical insurance information and OCR technology, simplifying the insurance purchase operation. Additionally, the model allows for seamless switches between PC and mobile phone, supporting authorization application and batch import of lists of the insured from both platforms to meet different business requirements. Building an online life insurance product system To meet the needs of online customers, China By leveraging the advantages of the Internet, gram. A new online direct sales model has Life has developed four online life insurance such as fast access, wide coverage, and high thus been established, featuring a one-stop-products: "China Life Shouhu Xing Accident efficiency, and adhering to the concepts of shop for insurance products, matrix serving, Insurance (Online)", "China Life Shouhu digitalization, intelligence, and sharing, Chi- thousands of contact points and all-platform Xing Comprehensive Accident Insurance na Life has launched the "Guo Xi Bao China linking. The mall provides more options for (Online)", "China Life Zhuoyue Qiancheng Life Insurance Mall", which integrates prod- users to purchase China Life's insurance Children Annuity Insurance (Oneline)", and ucts, services, and content, and is available products. "China Life Fuxiang Yisheng Pension Annui- on the China Life Insurance App, official ty Insurance (Online)." WeChat account, and WeChat mini-pro- Case: China Life launches "Man Man Ying Annuity Insurance" In October 2022, China Life has opened its official service hall on Ant Insurance, an online insurance mall, and introduced the "Man Man Ying Annuity Insurance" product, which marks the Company's first online life insurance product developed in partnership with Ant Insurance. This product offers stable old-age security and convenient financial insurance services to customers. Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 29 Deepening Scientific and Technological Innovation China Life is committed to promoting scientific and technological innovation, accelerating its digital transformation while strictly safeguarding information security and user privacy. The Company also strengthens its intellectual property management and protection, bolstering its efforts to advance the digital economy by contributing China Life's share of wisdom. Strengthening China Life's technological capabilities China Life has seized the opportunity presented by the digital economy and has followed the trend of mobile internet development. Guided by a new development concept and a strategic vision that emphasizes "persistent execution of a blueprint", the Company has been promoting the strategy of strengthening China Life's technological capabilities. Our digital insurance ecosystem enables us to "leapfrog from a mere online presence to intelligent China Life and now to digital China Life". We continue to focus on building our scientific and technological competencies while staying true to the distinctive characteristics that have established China Life as a prominent leader in the insurance industry. Planning ahead to create a new layout of mobile internet with China Life's characteristics China Life is building a hybrid cloud with which enabled the Company to quickly re- tends to management institutions and grassroots powerful computing power. The Company has spond to challenges brought by the explosive outlets at all levels. The Company deploys proactively responded to the nation's call to growth of internet application, including mobile intelligent hardware devices which are adapted accelerate the development of new infrastruc- working, remote collaboration, and online to multi-scenarios and connected to a wireless ture such as 5G networks and data centers. By sales. The Company's distributed hybrid cloud network, achieving centralized management establishing a private cloud with multiple sites was awarded the special prize of the Financial and control of 0.24 million electronic devices in the three centers and two locations of Bei- Innovation Achievement Award by the Second in 12 categories nationwide. The company has jing and Shanghai, China Life has seamlessly Capital Financial Innovation Incentive Project. also established an online digital twin space that connected to public cloud resources, leading China Life is also building a ubiquitous and in- mirrors the offline workplace. This has enabled the industry in building the first safe, green, and terconnected Internet of Things. By integrating a smooth supply of company resources to the elastic hybrid cloud, enabling an elastic supply cloud computing and edge computing technol- workplace and provided direct access to infor-of resources and smooth deployment. The Cov- ogies, the Company builds an interconnected mation, effectively solving the "last kilometer" id-19 pandemic highlighted the advantages of environment with full coverage. This efficient problem of insurance services. this approach, including elasticity, convenience, and flat mobile interconnection network ex-safety, reliability, and uninterrupted operation, Deepening expansion to consolidate the cornerstone of digital transformation through architectural innovation China Life is empowering science and tech- China Life is innovating its architecture to China Life is committed to creating an open and nology through a focus on digital-driven achieve standardization, safety, autonomy, and shared digital ecosystem. The Company has innovation and integration. The Company controllability. To this end, China Life leverages developed an insurance digital platform (EAC) has taken significant strides to enhance its its hybrid cloud and open layered architecture with China Life's characteristics, integrating all-round science and technology empower- to efficiently promote the innovation of infor- online digital services with offline digital work-ment, including the establishment of a sci- mation technology applications. The Company places. This platform provides a variety of ser-ence and technology application innovation promotes comprehensive architectural inno- vices that cover the entire value chain, including incubation center and an R&D sub-center. vation and realizes the integration of various from sales, to transactions, management, risk By innovatively constructing an intelligent technologies. It flexibly supplies financial and control, and office collaborations. The platform panoramic view of family insurance and insurance professional business capabilities as also aggregates external resources and supports expanding its science and technology sup- well as general technical capabilities such as institutions and partners at all levels of the ply across various dimensions, China Life artificial intelligence and real-time computing. system to integrate scenarios, flexibly assemble is advancing the integration of science and This enables real-time data processing and resources, and extend the ecology, and realize a technology businesses. This approach is em- convenient service delivery, fully enhancing the seamless connection among life, insurance, and powering the entire insurance value chain, core strength of science and technology, and services. This gradual establishment of a richer allowing the Company to provide customers providing best practices for scientific and tech- and more diversified insurance ecology leads to with convenient, efficient, and accurate fi- nological innovation in the financial industry. open, sharing and win-win results. nancial and insurance services.

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30 China Life science and technology innovation measures in 2022 Promote the transformation of distributed architecture The Company has undergone an all-round trans- computing utilization, leading to significant cost Transformation in 2022" by the institution directly formation of its core business systems to a distrib- reduction, efficiency improvement, and success under the Ministry of Industry and Information uted architecture, creating an open and compatible in green and low-carbon initiatives. In 2022, in Technology. The Company's information tech-digital foundation with a brand-new proprietary recognition of this achievement, the Company's nology application innovation and construction distributed cloud architecture. This transformation distributed architecture transformation project was achievements have ranked first in the industry for has resulted in a 3-fold increase in unit space stor- selected as one of the "TOP 30 Best Innovative two consecutive years, maintaining its position as age utilization and a 266% increase in unit space Application Projects of China's Financial Digital a leader in the industry. Strengthen data management The Company recognizes data as a crucial element in its operations and established an enterprise-level data management system that covers multiple fields. Through enhanced data governance, improved institutional mechanisms, integrated data in business operations, and activation of data value, the Company has achieved an optimized level of Data Management Capability Maturity Assessment Model (DCMM) at Level (Level 5). Carry out digital risk prevention and control The Company has built an internal intelligent Furthermore, the Company has carried out big In 2022, the Company accurately issued an risk control system, using knowledge map and data monitoring and intelligent analysis based average of graph mining technologies to combat fraud and on user behaviors. This approach enables the money laundering. The system has achieved identification of abnormal login activities and 1.10 million intelligent risk identification for illegal fund- the detection of unusual user behaviors, result-raising and has filled the gap in the application ing in timely resolutions of potential security real-time safety no-tifications to users daily of artificial intelligence technology in the insur- risks. ance industry's anti-money laundering field. Improve the digital operation capabilities of science and technology The Company has established an integrated timely identification and resolution of various Company was awarded the Outstanding Con-production and operation mechanism, with the issues. The mechanism also ensures accurate tribution Award for Digital Transformation of enterprise digital operation and production com- feedback to the sales, service, and operation Financial Industry at the 2022 China Financial mand hub (ECC) at its core. This mechanism sides, continuously improving the Company's Technology Annual Conference and the 13th provides a real-time, comprehensive display digital operational capabilities. In recognition of Financial Technology Application Innovation of the enterprise's business status, enabling the its efforts, the ECC construction project of the Award Ceremony. Case: China Life achieves the first-ever highest level of Data Management Capability Maturity Assessment (Level 5) Model in the industry In 2022, China Life successfully integrated the advanced theory of the Data Management Capability Maturity Assessment Model (DCMM), the first national standard in the field of data management, with its own practices. By implementing the DCMM mechanisms, the Company improved its operations in eight major areas, comprehensively optimized the data management system, and became the first insurance company to achieve the highest level (Level 5) of the Data Management Capability Maturity Assessment Model. This achievement demonstrates the company's leadership in the industry. Data Management Capability Maturity Assessment Model Level Certificate Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 31 Information security and privacy protection China Life places great importance on en- confidentiality, integrity, and availability of information security management system suring the security and privacy of its users' information. To ensure the safe and stable certification. In 2022, it conducted infor-data. The Company has implemented var- operation of its various technological prod- mation system security certification for all ious measures to continuously strengthen ucts, China Life continuously improves its businesses, and continuously obtained ISO its network security protection capabilities information security management system 27001 information security management including optimizing its accurate prevention and conducts a comprehensive internal system certification and information security and control system and deepening its normal information technology audit every two service qualification. There were no major working mechanism. These measures have years, issuing relevant risk warnings. Addi- information security incidents in China Life been implemented to ensure the compliance, tionally, the Company continues to carry out in 2022. President's Office Cyber Security and IT Application Commission Technical Change Committee Information Security Committee Data Management Committee External Expert Committe Information Security Working Group China Life information security management organizational structure Responsibilities of all levels of the information security management system in China Life The President's Office is the highest decision-making organization for infor-President's Office mation security work. The commission is responsible for studying and formulating the medium and Decision- Cyber Security and long-term development strategy of the Company's information security and making IT Application Com- information application, reviewing the development plan of the Company's in-mission formation security and information application, and major information security and information application issues. Technology Change Committee, Information Security Committee, Data Man-Management Professional Com-agement Committee and External Expert Committee are set up to assist the mittees Cyber Security and IT Application Commission. Execution Information Security The working group is responsible for carrying out various information security Working Group tasks of the Company, ensuring the smooth implementation of information security tasks.

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32 China Life always prioritizes the protection of China Life has made continuous efforts to en- sponsible for ensuring data security throughout privacy and upholds legal and ethical stand- hance its network security operations through the product's research and development, testing, ards in information security management. The the establishment of a normalized security oper- operation, and maintenance life cycle. More-Company strictly adheres to the Data Security ation system and network security management over, the Company centralizes the collection, Law of the People's Republic of China and responsibility matrix with data assets at the core. storage, circulation, and use of all applications, the Personal Information Protection Law of The Company has improved the "three defen- software, and data inside the data center to the People's Republic of China, continuously sive lines" in information security management minimize information security exposure. The improving its internal information security and technologies, forming a three-dimensional Company requires that production data essential management system. All of the Company's cybersecurity prevention and control system that for work and other data needed for development platforms, products, and services conform to features equal attention to technology and man- and testing be approved and filed, with sensitive the User Information Authorization and Per- agement, in-depth defense and continuous opti- information filtered, thereby strengthening the sonal Information Protection Policy6. mization, realizing global security management Company's information security defense line. China Life upholds users' rights to independent- from the operating environment, technological ly access, correct, and process their personal products to people. In 2022, the Company cre-information. The Company refrains from leas- ated a list that covers 19 management fields, ing, selling, or providing personal data to third 92 work items, 134 work processes, and 191 parties without the prior written consent of us- security standards, which were strictly enforced ers. All usage of user information is conducted to ensure network information security. in a transparent and reasonable manner, with the China Life's refined data classification and pre-explicit consent of the user. When entrusting af- vention and control measures are implemented filiated companies and third-party partners with at the field level to ensure information security. user-related information, China Life ensures that The Company has clarified data security re-they comply with the Company's information quirements in the design principles of scientific protection policies and other relevant confidenti- and technological product architecture, with the Information security certification ality and security measures when necessary. scientific and technological product team re- Technological advances To continuously strengthen information security management and control, China Life has implemented the "big background and small front-end " technical layout. This approach involves implementing information security response and protection measures before, during, and after any security incidents. As a result, the Company has established an information security management mechanism featuring unified data management and the centralized storage, deployment, monitoring, and processing of data. Before incidents During incidents After incidents To strictly control the quality of technology China Life activates an emergency response After an incident occurs, China Life con-products, the Company conducts quality in- process and a coordinated response mech- ducts a thorough evaluation of the cause, spections and security tests prior to product anism to ensure that relevant personnel impact, and response to the exception. launch. This practice improves the safety can efficiently handle risks and prevent the The Company promptly detects and rec-and robustness of its technological products. spread of any potential information security tifies any security vulnerabilities while Routine monitoring is also enhanced to risks. continuously enhancing its information ensure that any operating status of the tech- security management mechanisms. nological products can be monitored and controlled, allowing for prompt detection and resolution of any exceptions. To improve information security protection, security. The Company also ensures back- de-identification technologies are also imple-the Company employs various technologies end data operation and maintenance security mented to provide secure access for remote for security management throughout the en- by implementing unified authorization, working and business processing, thereby tire data chain, including data transmission, authentication, accounts, and audit through improving front-end data security. Custom-front-end access, and data tracking. Access unified identity management technology. Wa- er-sensitive information is filtered, and virtual control, encryption, and de-identification termarking technology is utilized to prevent numbers are used in customer services and technologies are applied to enhance data data leakage and tracking. Encryption and surveys to prevent data transmission leakage. 6 The User Information Authorization and Personal Information Protection Policy has been published online on June 16th, 2002. Please refer to: https://www.e-chinalife.com/c/2022-06-16/526813.shtml Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 33 China Life integrates data protection measures awareness platform covering the entire net- also quickly understand domestic and overseas into product and service development. The work, which gradually achieved full coverage attack threat trends through threat intelligence Company applies adaptive security, spoofing of security data for all sub-network within and various technical means, and has the defense, and attack traceability systems to the network border enhancing threat aware- ability to warn and respond to major network improve the defense-in-depth system. This ness capabilities. The platform supports the security incidents. In 2022, the China Life transformation allows for active security and second-level query of tens of billions of data Insurance App passed the mobile internet data-driven defense, shifting from asset-driven and forms a closed-loop security operation application (app) security certification and be-defense to more comprehensive security meas- of "threat prevention-threat detection-threat came the first app in the industry to obtain this ures. The Company also built a situational defense-threat response". The platform can certification. Strengthening Awareness China Life has comprehensively optimized and penetration tests, and conducted one well as simulated phishing. Additionally, the its emergency plans for information systems, internal network security attack and de- Company arranged full-time network secu-basic platforms, and basic environments, fense exercise. These measures effectively rity staff from the whole system to attend incorporating external technical resources improved the Company's network security external professional training and obtain such as network operators and service pro- protection capability. professional certification. The Company viders. The Company continuously trains its China Life provides annual network secu- also regularly organized relevant personnel professionals in security countering abilities rity training to all employees to enhance to participate in the training for registered and strengthens its defense line of infor- their awareness of information security. In information security professionals. China mation security awareness through regular 2022, the Company provided online courses Life provided information security training internal offensive and defensive drills and on information security for all employees to all relevant service personnel of third-par-emergency plan drills. In 2022, the Com- and provided practical security awareness ty partners to strengthen their information pany established an emergency response education through, information security security awareness, quality, and skills, effec-process covering 21 scenarios, organized 12 behavior brochures, posters, and videos as tively protecting customer information and production environment safety inspections privacy. Intellectual property management China Life attaches great importance to the of Intellectual Property Right to continuous- tion, State Administration for Industry and management and maintenance of independ- ly enhance the management of intellectual Commerce, and Copyright Protection Center ent intellectual property rights, implement- property rights, such as patents, copyrights, of China, including one application for ing strict regulations on their application and trademarks. This strengthens the protec- invention, 14 applications for appearance, and management. The Company adheres to tion of property rights for insurance prod- and 9 applications for software copyright the Patent Law of the People's Republic of ucts and ensures that all innovations receive registration. During the same year, China China, the Anti-Unfair Competition Law of timely, comprehensive, and effective patent Life received 38 new intellectual property the People's Republic of China, the Trade- protection. certificates, including 4 appearance patent mark Law of the People's Republic of China In 2022, China Life submitted a total of 24 certificates, 24 software copyright registra-and the Copyright Law of the People's Re- intellectual property applications to China tion certificates, and 10 artwork copyright public of China. It has also formulated the National Intellectual Property Administra- certificates. Administrative Measures for the Protection Case: China Life won the World's Most Innovative Knowledge Organization Award In April 2022, the list of winners of the World's Most Innovative Knowledge Organization Award was announced, which is sponsored by Teleos, an independent British research institution, and KNOW Network. China Life was named the winner of the 2021 World's Most Innovative Knowledge Organization Award and became the first Chinese insurance company to win the in- World's Most Innovative Knowledge Organization Award ternational knowledge management award.

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34 Building Smart Services China Life continues to implement the service concept of "honesty and trustworthiness, professionalism and efficiency, customer first and extraordinary experience" and builds a service brand of "simplicity, quality and warmth", centering on customers' needs and addressing their concerns to continually improve customer service quality. Upgrading customer experience China Life attaches importance to customer feedback and continually improves its closed-loop management mechanism by conducting pre-service evaluations and implementing a customer journey breakpoint prevention and control system to promptly address any customer experience issues. In 2022, a third-party customer survey showed that the company's overall customer satisfaction level remained high. Optimizing technological services for excellent customer experience To fully embraced scientific and techno- services such as electronic return visits, The proportion of electronic intelligent logical intelligent services, China Life has electronic notifications, intelligent voice return visits for new policies exceeded upgraded its customer contact center's mul- navigation, intelligent outbound calls, and 97.43%. E Xiaobao, an intelligent online ti-service mode, which is SIP (self-service - intelligent online customer service robots. customer service robot, provided intelligent intelligent - people), and implemented new In 2022, the one-time problem-solving rate and artificial online services for 35 service technologies such as big data, intelligence, for 95519 telephone inbound services within channels such as the app and WeChat, with and cloud computing. The Company created 48 hours reached 89.1%, a year-on-year an intelligent service replacement rate of multi-contact-point services, such as 95519, increase of 3.6%. The service satisfaction of 96.31% and an average daily guide service app, WeChat, and SMS, and improved 95519 reached a new high score of 98.77%. of about 170 thousand times. The one-time problem-solving rate Intelligent service replacement rate of The service satisfaction of 95519 reached for 95519 telephone inbound services within 48 hours reached 89.1% 96.31% 98.77% Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 35 China Life's optimization measures on science and technology services in 2022 Upgrade policy services in China Life Insurance App The number of registered users of the China Life Insurance App reached about We have enhanced the carrying capacity of various services, healthcare ecological services, and online activities of China Life Insurance App to create a full process of online policy services for customers. In 2022, the number of registered users of the China Life Insurance App reached about 129 million representing a 15.2% increase over the previous year. Throughout the year, 129 million the app served customers for about 300 million times, which is an 18.7% increase year-on-year, demonstrating its stronger service capacity. Improve the service efficiency of 95519 customer line The electronification rate of customer policy preservation service has increased to China Life Insurance has improved the first-level service algorithm of its 95519 customer service line, making it faster and more efficient for customers to resolve their issues. This has 92.79% resulted in a more convenient service for customers, with no need for repeating dialing, hearing of the same message, or repeating commands. Additionally, the Company has launched the industry's first digital voice service management platform, achieving the second-level change to the 95519 intelligent voice service emergency response. Automation rate of preservation has exceeded Create intelligent preservation service model 99% The security service mode of "multi-access, several parallel tracks, and one step faster" has been comprehensively upgraded, with a focus on improving self-service contacts and intelligent review processes. All review items are now processed within one second, and the electronifica-tion rate of customer policy preservation service has increased to 92.79% and automation rate of preservation has exceeded 99%. The number of new registrations on the platform exceeded Improve the value-added service platform V Life 5 million The value-added service ecological platform V Life promotes communication between customers and sales staff by supporting regular diversified customer business activities. It provides customers with various, systematic, and professional value-added services. Massive Health Platform The Massive Health Platform is committed to improving customer experience by offering a wider range of service items and gradually improving platform functions. In 2022, the number of new registrations on the platform exceeded 5 million and the cumulative number of registrations exceeded 32 million.

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36 Developing "senior mode" to bridge the digital gap for the elderly China Life has made it a priority to address the insurance needs of elderly customers by providing various service modes tailored to their usage habits. These measures aim to alleviate the challenges that they face when navigating complex digital systems, and enable them to fully enjoy the convenience brought by intelligent services. As of December 31, 2022, a total of 25.59 million service sessions specifically designed to meet the senior's unique needs have been provided. Senior mode in China Life Insurance App 95519 fast track of special digital line for the senior China Life Insurance App has added sev- The Company launched a digital special green channel for elderly customers on the 95519 eral functions such as adjustable font size, customer service line, which automatically and accurately identifies the calling numbers of voice authentication login, information elderly customers, sets up exclusive service skill groups, and provides slow, light, and soft ser-read-aloud, and an intelligent answering vices and solutions that are more suitable for the understanding and living habits of the elderly. robot to provide an intimate service expe- In 2022, the Company provided priority access to human services for 632.9 thousand elderly rience for the elderly. The system will also customers, and the human service connection rate of elderly customers reached 97.93%. display anti-fraud warning risk prompts The Company is the first in the industry to provide "local accent" service. In addition when processing business on the app, re- to human service in mandarin, the customer service team can provide services to minding the elderly not to transfer funds elderly customers in their dialects with the customer's consent. The 95519 customer unwarily and to be cautious of financial service line team can offer services in 53 dialects, which better solves the problem of fraud and illegal fund-raising. language communication inconvenience for the elderly. Considerate services for the elderly at physical counters The Company actively launched a series of service measures to respect and care for the elderly, such as developing a "love version" of smart teller machines, which are with larger fonts and accessible services via voice. The Company also carries out the "Protect the elderly" caring activities, adding special seats for the elderly and equipping the physical counters with reading glasses, blood pressure meters, wheelchairs, and other convenience facilities. China Life has also provided fast track and convenience services for special groups to continuously improve customer service experience. In 2022, the physical counters processed 5.50 million cases for the elderly. Prioritized access to human service for the elderly at 95519 service line Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 37 Giving back to customers and living a warm life together China Life is dedicated to giving back to its customers by providing them with quality health services and fostering engagement through various activities. China Life giving-back projects As part of its customer giving-back projects, China Life organized an online customer festival with the theme of "Create the Future with China Life". The festival included an online "Energy Playground" area and an offline "Energy Playground" check-in area, with interactive activities and diverse themes, "Create Future with including "Enjoy Yourself", "Little Painters", "700 Health Walk", and "Consumer Rights Protection". China Life" events As part of the festival, the Company held a "Health Gift Package" giving-back activity, providing its customers with commonly used services such as daily discomfort consultation, pre-hospital emergency rescue, and discharge assistance arrangement. Additionally, China Life launched the "Immunity Boost to be Healthy Together" program, which offers a series of live and short video courses on health and sports for different customer groups, including Immunity boost teenagers, middle-aged, elderly people, and office workers. The program is divided into four sections: program "Body Correction for the Youth", "Health Care for the Senior", "Sports and Fitness", and "Exercise at Home". Lectures on traditional Chinese The Company also provided its customers with "Meridian Exercises", which are slow and low-intensity medicine rhythmic exercises based on a traditional Chinese medicine meridian theory. China Life launched the exclusive "Enjoy Yourself" activities for women, which included nearly 50 "Enjoy Yourself" event high-end beauty salon activities and online short video interactions with micro topics, and attracted over 300 thousand customers' participation. Lectures on first aid knowl- The Company organized 11 free first aid lectures across nine provinces, including Heilongjiang, Shan-edge dong, Fujian, Anhui, Liaoning, Hebei, and Guangdong. Increasing service outlets and innovating service models The company established a service team for ethnic minorities, nfiltrated insurance coverage into remote areas, and expanded insurance coverage. Case: China Life's insurance services cover remote pastoral areas The Qinghai Branch of China Life innovated its services by organizing a marketing service team with ethnic minority members to overcome the language barrier that previously hindered the development of insurance business. This led to better insurance coverage for herders in remote pastoral areas. In 2022, the Mongolia nationality team of the Qinghai Branch in Xiangride achieved a first-year premium payment of RMB 4.0326 million, providing insurance services for remote areas of the grassland, and taking practical actions to improve the lives of people on the grassland.

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38 Improving claims services China Life is committed to providing In 2022, China Life a "fast and warm" claims service. The Company leverages digital technologies • Processed over 19 million compensation cases, settling an average of 1 claim such as the internet, big data, cloud in less than 1.7 seconds; computing, artificial intelligence, block-chain, and 5G networks to improve the • Settled over RMB 50 billion in claims, averaging RMB 140 million in com-speed and quality of its claims service. In 2022, China Life introduced the "mo- pensation payments to customers every day; bile, convenient, and efficient" claims service on mobile devices, and integrat- • Provided direct claims payments for over 6.7 million person-times, with ed intelligent technology to enhance the compensation completed in one step immediately after customers were dis-efficiency of its claim service. charged in certain regions; • Offered efficient claims settlement, with a settlement time of 0.13 days for small-amount claims; • Responded rapidly to 88 emergency cases. China Life has diversified its claims ap- third-party data, promoting remote and rapid industry. As of December 31, 2022, China Life plication channels to provide customers settlement and payment through intelligent has utilized intelligent technologies to process with more convenient options. Customers means. And third-party data, promoting nearly 14 million cases, achieving an intelligent can now apply for claims through various remote and rapid settlement and payment processing rate of over 70%. channels, such as the China Life Insurance through intelligent means. In some regions, The Company establishes a strong connection App, official WeChat account, official web- the Company has launched "one-step" direct with customers and provides considerate ser-site, 95519 contact center, and sales outlets, payment services for claims, allowing cus- vices, such as "door-to-door compensation" for allowing them to make claims anytime, tomers to settle claims and deduct medical those who are unable to move or bedridden, anywhere. This move breaks geographical expenses directly upon discharge, providing and actively collects paper claims application restrictions and shortens waiting times for "zero lag" service for claims. materials on door and provides disability customers. Additionally, the Company has China Life is committed to optimizing its claims identification services. In 2022, the Company innovated the direct payment of claims, process through the use of artificial intelligence, provided specialized claims services for over focusing on the "medical+insurance+inter- big data, and other advanced technologies. The 110 thousand customers, where experts assist-net" scenario, promoting direct payment Company has taken the lead in the intelligent ed them at their doorstep and supported them services by enabling customers to connect handling of medical liability claims within the throughout the claims process. their social security accounts, hospitals, and China Life claims services "One-day Settlement for Critical Illness- Promoting claiming with elec-Quicker disaster claims es" faster compensation tronic documents China Life is committed to providing faster China Life has taken swift action in response to China Life has actively responded to the coun-compensation for critical illness to its eligible several significant emergencies, including the M 6.8 try's medical electronic documents reform customers, and completing the claim processing earthquake in Luding County, Sichuan Province, policy by utilizing big data to expand service within one working day, offering "immediate the M 6.1 earthquake in Lushan County, Sichuan channels and extend services, promoting compensation upon diagnosis". The Company Province, and the mountain flood disaster in Datong electronic documents claims in various re-has provided the " One-day Settlement for County, Qinghai Province. The Company quickly gions. The Company provides customers with Critical Illnesses " service to nearly 190 thou- activated its emergency claims settlement mecha- convenient and warm claims services such as sand eligible customers, with the compensation nism, proactively reached out to affected customers, paperless claims and the option to self-select amount exceeding RMB 8.5 billion. and established a fast track for claims settlement. electronic bills. Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 39 Protecting customer rights China Life is committed to meeting the operates under the leadership of the Party ests by transitioning from post-control to regulatory requirements for consumer rights Committee and the President's Office. The operations throughout the entire chain. The protection. To achieve this, has continuously Committee is responsible for overseeing the Company adopted an "extensive consumer optimized and strengthened its consumer management, organization and coordination protection" work pattern which included rights protection system and mechanisms to of consumer rights protection tasks. A work- improving consumer protection mecha-ensure their effective implementation. ing committee and offices have been estab- nisms such as consumer protection review, To manage and coordinate consumer rights lished under the Committee to implement assessment, internal training, and internal protection, the Company has set up the Con- various consumer rights protection initia- audits. These mechanisms were effectively sumer Rights Protection Committee, which tives. In 2022, China Life actively promoted implemented, accelerating the protection of the protection of consumer rights and inter- consumer rights and interests. Consumer protection review The Company reviews and evaluates its products and services to ensure consumer rights protection and provides review comments. In 2022, nearly 6.6 thousand reviews related to consumer rights protection were carried out by the Company. Consumer protection assessment The Company has incorporated consumer rights protection and customer complaint assessment indicators into its comprehensive performance assessment metrics. This assessment covers all departments of the head office and 36 provincial branches, whose work involve consumer rights protection. The assessment results serve as a critical basis for institutional accountability and leadership management. Internal training The Company has organized training courses on consumer rights protection and "Good Service" serial lectures for its sales staff. In 2022, over 3.2 million participants attended the courses. Internal audit The Company has made consumer rights protection a priority in its audit work and included it in its annual audit. In 2022, the Company completed the special audit on consumer rights protection. Consumer rights protection education and publicity As of December 31, 2022, China Life has Organization in Joint Financial Education tion awareness, and establish a transparent conducted over 15 thousand consumer rights and Publicity" during the "3·15" Education financial and insurance consumption en-protection education and publicity activities, and Publicity Week of China Banking and vironment, the Company has enriched its reaching an audience of 175 million individ- Insurance Regulatory Commission. consumer rights protection education and uals. This represents a 16.7% increase year- To further emphasize the importance of con- publicity content. Additionally, the Compa-on-year. China Life's outstanding perfor- sumer protection to all employees, enhance ny has vigorously promoted the construction mance was acknowledged, it won the titles consumer financial literacy and self-protec- of an "online + offline" and "centralized + of "Excellent Organization" and "Excellent specialized" financial publicity matrix. China Life introduces the popular science columns on financial knowledge in the China Life Insurance New layout of online plat- App and official website. The Company has also leveraged its official Weibo account to publish online form and release of original lectures, which educate the public on insurance basics and risks with long images, cartoons, and mi-content cro-videos. Set up specific publicity To expand its channel and strengthen its publicity, the Company has established financial knowledge zone offline and offer publicity zones at its counters, providing ample exclusive publicity materials, hosting special lectures, popularization education and other events.

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40 Timely feedback to customer complaints In 2022, China Life took significant steps to and Insurance Regulatory Commission on From January to December 2022, we received enhance our complaint management meas- industry complaints, our company's rela- 158,280 cases of customer complaints, re-ures. We safeguarded the legitimate rights tive number of complaints ranked well in sulting in 25.73 complaints per 100 million and interests of our customers and improved the first, second, third and forth quarters of RMB premium and 3.66 complaints per 10 their overall satisfaction. We worked tire- 2022. Specifically, the number of complaints thousand insurance policies. The distribution lessly to acknowledge and address customer per 100 million RMB premiums ranked of customer complaints across our workflow dissatisfaction and feedback promptly and 50th, 48th, 48th and 33rd, respectively, while is as follows: 60,887 for sales, 8,312 for policy kept carrying out warning education and the number of complaints per 10 thousand purchase, 16,815 for preservation, 22,333 for sharing examples of excellent case handling. policies ranked 78th, 75th, 79th and 78th, claims, 27,300 for renewal, and 21,761 for Additionally, we promoted traceable com- respectively. The number of complaints per other processes. The distribution of customer plaint management practices and increased 10thousand person-time ranked 75th, 75th, complaints across our branches is as bellow: our overall complaint-handling capabilities. 74th and 71st, respectively. (Note: A later According to a report by the China Banking ranking indicates better performance.) Branch Total amounts(Pieces) Branch Total amounts(Pieces) Beijing 5,338 Qingdao 1,769 Tianjin 5,778 Henan 8,800 Hebei 16,357 Hubei 6,571 Shanxi 2,654 Hunan 5,714 Inner Mongolia 4,490 Guangdong 17,483 Liaoning 3,144 Shenzhen 3,715 Dalian 1,075 Guangxi 1,093 Jilin 2,158 Hainan 376 Heilongjiang 6,241 Sichuan 2,639 Shanghai 1,674 Guizhou 1,057 Jiangsu 7,717 Yunnan 1,293 Zhejiang 3,826 Shaanxi 7,212 Ningbo 359 Gansu 2,483 Anhui 3,513 Qinghai 404 Fujian 8,191 Ningxia 1,672 Xiamen 1,046 Xinjiang 2,053 Jiangxi 4,896 Chongqing 3,329 Shandong 12,132 Tibet 28 Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 41 Main complaint channels 95519 Letter Visit China Life Insurance App China Life Insurance mini program Process of handling customer complaints Customer complaints Call Letter Visit Others The complainant may apply in writing for review within 30 days from the date of receiving the handling decision, and the Company will make Acceptance of complaints a review decision within 30 days from the date of receiving the review application. For consumer complaints with clear facts and simple disputes, the Investigation and handling Company will make a decision and inform the complainant within 15 days from the date of receipt; If the situation is complicated, it can be Written application to the extended to 30 days; If the situation Handling comments higher-level unit for review is particularly complicated or there are other special reasons, it may be extended for another 30 days. Reply to customers If there is disagreement Case closing

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42 03 Responsibilities of China Life Serving National Strategies Mobilizing Public Welfare Efforts Focus on Personnel Development and Training Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 43 China Life is committed to serving national strategies by actively participating in national plans such as rural revitalization and coordinated regional development, social welfare initiatives, and providing staff training. By leveraging its core strengths and professional advantages, the aim is to foster a new development pattern that will facilitate the country's all-round modernization.

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 44 45 Serving National Strategies Case: Supporting and assisting rural communities by creating a livelihood security network China Life firmly believes that ensuring a smoothly operating economy and improving people's lives are the core drivers of enterprise development. As such, the Company places great emphasis on promoting rural revitalization, upholding the founding principles of insurance, and fulfilling China Life has played a vital role in pro-the role of an economic "shock absorber" and social "stabilizer". moting insurance assistance and industrial development in Daliuhao Town, Qahar Rural revitalization Right Rear Banner, located in Ulanqab City, Inner Mongolia. In an effort to help local residents and students in the area, the Com-China Life has established and improved its gradually develop a replicable and transferable in acquiring critical illness insurance. Such pany provided insurance coverage of RMB long-term rural revitalization assistance mecha- rural revitalization program of China Life. assistance programs now constitute more than 134 million for critical illnesses and indi-nism, centered on "one theme, two pillars, five 80% of the company's offerings. Through its vidual accidents to 19,944 people who have measures, and six guarantees," with a focus on China Life has been consistently achieving Rural Revitalization health insurance product just emerged from poverty or people who the "five rejuvenations", namely, rejuvenation the highest grades in central assessments series, China Life has provided compensation are on the verge of poverty and may easily in regional industries, talents, culture, ecology, by delivering top-quality assistance to rural for 0.59 million cases. Recognizing the diverse fall back in again. Furthermore, China Life and organization. The Company leverages its communities. As of December 31, 2022, the insurance requirements of the rural population, invested RMB 4 million in assistance funds strengths to support local economic develop- Company has invested RMB 239 million in China Life is expanding its rural business Zhao Peng, Party Secretary and President of China Life, conducted an on-site to support local economic development and ment and strives to integrate assistance projects assistance funds and RMB 138 million in operations. In 2022, the Company offered risk investigation into the Company's rural revitalization efforts with its main business. China Life offers a di- consumption assistance funds, strongly sup- protection worth RMB 30.78 trillion to the ru- industrial revitalization efforts continuously. verse range of financial and insurance products porting local development. ral population, covering 310 million cases. Of and high-quality services tailored to the needs these, 99.96 million rural individuals are cov-of the population that has been lifted from pov- The Company leverages its primary business ered by short-term insurance schemes linked Case: College Student Village Official Insurance Projecterty, thereby building a defense line to prevent strengths and actively implements preferential to the rural sector, RMB 5.224 billion paid out a large-scale return to poverty. The aim is to policies to assist individuals facing challenges as compensation. China Life's rural revitalization measures in details For many years, China Life has provided comprehensive insurance coverage for severe diseases and individual accidents to all university student village officials who are on-the-job. After collaborating with the Selected Graduates program, the Company promptly updated its product categories and continued to provide comprehensive insurance coverage for all selected graduates who work in the village. As of December 31, 2022, a total • China Life implemented a preferential rate policy. From 2017 to December 31, 2022, the Company of 0.98 million policy holders have been insured under this program, with more than RMB 58 million paid out in compensation. This initiative has developed 33 insurance products, including "Poverty Alleviation Insurance", "Wonderful Life", and helped more than 610 university student village officials and selected graduates who worked in the village that has faced difficulties due to serious "Rural Revitalization", to construct a diversified and targeted insurance product system. illnesses or accidental injuries. • The Families Company and Orphans upgraded Group and developed Accident three Insurance products (A)" related "China to rural Life Small regions: Amount "China Group Life Rural Accident Poor Develop insurance products Insurance (A)", and "China Life Small Amount Accident Insurance (A)". Regional devel- Beijing-Tianjin-Hebei Coordi- Integrated Development of the for rural revitalization • "China China Life Life has Rural developed Revitalization and promoted Group Term 13 special Life Insurance" products to and support "China rural Life rejuvenation, Rural Revitalization such as opment nated Development Yangtze River Delta Group Comprehensive Accident Insurance". These insurance products provide coverage for accidents, China Life plays an active role in optimizing China Life is fully committed to support-term life insurance, severe illness, medical expenses, and other liabilities. They are particularly suitable for those who have been lifted out of poverty but remain vulnerable to returning to poverty. The China Life continuously improves its ability the economic and spatial structure of the Bei- ing the construction of a multi-level social insurance policies provide comprehensive and multi-level protection for the rural population. to serve the real economy and regional de- jing-Tianjin-Hebei region and actively partic- security system in the Yangtze River Delta velopment. By December 31, 2022, China ipates in the construction of the Xiongan New region and actively promotes city-specif-Promote the sales of agri- • tural China products Life mobilized in the assistance its whole system areas, and to increase directly consumption stimulates production assistance, and actively income purchase growth agricul- among Life had made cumulative investments of Area. The Hebei Branch established the Xion- ic inclusive commercial insurance. As of cultural products RMB 3.6 trillion in the real economy and gan Branch, based on the original institutions December 31, 2022, the Company has par-the people residing in these areas. of Xiongxian, Rongcheng, and Anxin, becom- ticipated in city-specific projects in various over RMB 2.3 trillion in regional develop-Develop a "one-stop" instant ment economies. ing the first approved life insurance company Jiangsu provincial cities, including Hang-settlement service platform • instant The Company settlement fully service leveraged platform its network to provide and customized technical advantages and considerate and actively services used to those the in "one-stop" need. in the Xiongan New Area. The Company zhou, Wuxi, Shanghai, and Changzhou, provides comprehensive insurance coverage with over 4 million underwriters. During Cumulative investments of for urban and rural residents in Xiong'an the tea-picking season in 2022, the Huzhou • China ing in Life the construction actively promoted of precision assistance assistance projects, projects starting in with key areas. project The implementation goal is to facilitate and participat- sustain- County, including supplementary medical Branch of Zhejiang Province took innova-Establish a preferential assis- RMB trillion in the real insurance services for urban workers, reducing tive steps to support tea mountain contrac-able development in industries located in poverty-stricken regions. To this end, the Company estab- 3.6 tance mechanism lished a preferential support mechanism that aids in the development and upgrading of industries, also the financial burden of medical treatment for tors by allowing them to purchase and pay economy promoting income growth and overall welfare for individuals and communities. patients through the double guarantee of basic for insurance online via mobile phones, Cumulative investments over and supplementary medical insurance. At the simplifying the insurance process. This ini- • Moreover, the Company is actively involved in education and employment assistance. It organized same time, the Company deeply participated tiative provided insurance coverage for over training courses for "three teams," which include village party secretaries, entrepreneurial leaders, in the construction of the Xiongan New Area 30,000 tea-picking workers in 10 townships Provide access to education RMB 2.3trillion in regional and practical science and technology talents, among other intellectual support activities. China Life medical insurance system and participated in in Anji. and jobs has also recruited nearly 10,000 agents from key national assistance areas, aiming to stimulate their development economies the management of designated medical institu-endogenous motivation towards hard work and wealth creation. tions with the help of insurance power.

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 46 47 Greater Bay Area Construction Mobilizing Public Welfare Efforts China Life leverages its comprehensive advantages to strengthen its investment support to the Greater Bay Area, while also enhancing its social management efforts in the region, and contributing to the construction of the financial platform in the Greater Bay Area. China Life takes an active role in supporting social welfare initiatives and strives to fulfill its corporate responsibility by organizing various community care activities, volunteer services, emergency rescue, among other efforts. Strengthen investment in Greater Bay Area Public welfare programs China Life plays an active role in strengthening investments in the Greater Bay area by promoting the "insurance funds flowing into Guangdong" program and increasing financial support for "two new and one major" projects, new strategic emerging industries, scientific and technological innovations, green transformation, and other fields, as part of its commitment as a central enterprise. The Company places great emphasis on social charity work and endeavors to establish China Life as a prominent public welfare brand. To achieve this goal, the Company has implemented the Regulations on Public Welfare Donations as a starting point. In 2022, the Company donated RMB 34 In 2022, million to the China Life Charity Foundation. • Investing about RMB 8 billion in the Guangzhou city investment projects, supporting the Guangzhou City Construction Investment Group Company Limited, a high-quality investment entity in the core cities of the Greater Bay Area. th Case: The 12 "China Life Little Painters" value-added activity • Participating in the new phase of the scientific and technological achievements transformation fund initiated by the State Development & Investment Corporation, the Ministry of Science and Technology, and the Guangdong Provincial Government. This fund not only invests in hard science and technology and scientific and technological innovation but also efficiently undertakes cutting-edge scientific and technological achieve- In July 2022, China Life officially launched In addition, China Life is promoting the "Art ments in the Greater Bay Area, which is of great strategic significance for overcoming national core technical problems. the 12th "China Life Little Painters", a social Back to the Mountain" public welfare plan. welfare activity for education of children's The Company has teamed up with authori- • Investing RMB 870 million in the COFCO Chuangxin Industrial Park to promote the development of innovative industries, with a focus on the internet social responsibilities and art. The event, tative aesthetic education experts and artists industry. The investment will be used to develop supporting software and technology information services, as well as network financial services. This themed "Hand in Hand, Draw the Children's in China to provide aesthetic education and measure optimized the debt structure and contributed to the development of real and innovative economies in the region. Future", invited children aged 3-16 from development opportunities for teenagers and all over society to participate. Through art children in 41 rural primary schools across education, children can experience the sim- 11 provinces. This initiative aims to open ple relationship between people, humanity, the doors to art education for urban and rural On the site of "Art Back to the Mountain" Improve services in the Greater Bay Area nature, and society. children across the country. activity at "China Life Little Painters" event China Life has launched special insurance products for the Greater Bay Area. • The "China Life Greater Bay Area Medical Insurance (Premium)" introduced in 2022, which provides convenient insurance protection Case: China Life's contribution to cultivating basketball young talent for residents in the area. • Exploring the community pension model in Shenzhen. As of December 31, 2022, China Life has started and operated four inclusive In 2017, China Life became the exclusive sponsor of the National Youth Baskethball Open (NYBO).which marked the beginning of the Company's community pension projects, which have been widely recognized by the public. efforts to cultivate Chinese basketball talent. Over the next five seasons, from 2017 to 2022, China Life worked in collaboration with NYBO to promote youth basketball in China. This five-year journey can be compared to planting a seed that grows into a towering tree, symbolizing new hope for Chinese basketball. Through its support, China Life has contributed to building a solid foundation for the realization of a sports powerhouse and a healthy China. The Belt and Road China Life has optimized its "foreign labor port the "Belt and Road Initiative" overall Accumulated risk protection of over and business travel insurance" expansion plan, China life has promoted the COSCO plan. As of December 31, 2022, the Com- shipping project and the eastward extension pany has underwritten personal insurance of the "Maritime Silk Road". The Company RMB 38.1billion business in several countries along the "Belt has also provided insurance services for five and Road"and provided overseas security sessions of the Dunhuang Cultural Fair, with for over 200 Chinese-funded foreign enter- accumulated risk protection of over RMB Covering more than prises, with a risk insurance amount of RMB 38.1 billion, covering more than 37,000 in-10 billion. Additionally, in its efforts to sup- dividuals. 37,000individuals On the site of the NYBO

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 48 49 Case: Case: China Life hosted a "Music Life" art salon to promote cultural and artistic education China Life's 700 Health Walk and Workout in 100 Cities Activities in 2022 From October to December 2022, China In September 2022, China Life hosted a "Music Life" art salon at the National Centre for the Performing Arts. The event consisted of a series of Life organized a series of activities with activities that covered a range of art categories, including recitation, violin, Huangmei Opera, guzheng, and more. Through engaging explanations, the theme of "Workout in 100 Cities, interactive experiences, and live performances, the event enriched the aesthetic education of young people and helped to improve their cultural and Light Up Every City". The campaign artistic accomplishments. Participants widely welcomed the event, making it a resounding success. aimed to showcase the vitality and style of cities and promote healthy living. The activities included offline health walk relays in 15 cities and online lighting of hand-painted maps. Activity sites of some cities of the "Workout in 100 Cities, Light Up Every City" campaign China Life actively carries out insurance donation work, donating over 11 million public welfare insurance products in 2022. This effort showcases the characteristic role of commercial insurance in helping and assisting individuals in need. Case: China Life Guangxi branch donates caring women's health insurance A scene of drama interactions of the "Music Life" salon China Life Guangxi Branch actively donated health insurance to women groups, including women in difficulty, low-income women, and leaders of women's federations. The Company aims to strengthen support for women's work, China: China Life launches "Azure Starry Sky" space summer camp for young reporters improve insurance protection for women, and aid in the construction of a comprehensive insurance and protection system for women. In September 2022, China Life launched the "Azure Starry Sky" public welfare space summer camp for young reporters. During the camp, partici- In March 2022, China Life Guangxi Branch pants had the opportunity to attend engaging science classes led by Chinese space science experts and lecturers. They gained a deeper understand- collaborated with the Women's Federation ing of the story behind the construction of China's space station. of the Autonomous Region in launching the "Healthy Guangxi, Women on the Way" activity. China Life Guangxi Branch donated RMB one million worth of women health insurance to the Guangxi Women and Children Development Foundation. The two parties continued to jointly donate health insurance for women to those with low incomes in rural and urban areas throughout the region. This effort has covered a total of 38,000 female policy holders with low incomes, providing an insurance coverage amount of RMB 1.9 billion. The initiative aims to aid women with severe illnesses and their families, provide warmth, and ignite hope. Launching ceremony of "Healthy Guangxi, Women on the Way" A photo of the young participants after an engaging science class The young students are making pneumatic rocket models

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 50 51 Volunteer services Focus on Personnel China Life encourages its employees to participate in volunteer services. As of December 31, 2022, the Company has established more than 300 Development and Training youth volunteer teams, with over 7,000 registered young volunteers, and has organized more than 1,500 volunteer activities with more than 30,000 participants. China Life places a high priority on the well-being of its employees, and is committed to protecting their rights and interests in accordance with the law. The Company is deliciated to implementing employee empowerment and development plans, providing a healthy and supportive work environment, and demonstrating its care for employees. Case: Excellent volunteer for mountain fire rescue at Chongqing branch of China Life Insurance Employee rights protection In mid-August 2022, Chongqing was hit by extreme high temperature weather, resulting in large-scale forest fires breaking out in Fuling, Beibei, China Life complies with the Labor Law of and promotion, and opposing child labor and The Company has established procedures Banan, Jiangjin, Nanchuan, Dazu, Tongliang, Kaizhou, and other places. The leaders and employees of China Life Chongqing Branch actively re- the People's Republic of China, the Labor forced labor. China Life promotes a diverse for employees to lodge complaints, ensuring sponded to the calls of various district party committees and governments, and took the initiative to participate in mountain firefighting. Contract Law of the People's Republic of and inclusive employment environment that that their right to express dissatisfaction is China, and other relevant laws and regula- values the unique personalities and contribu- protected. All levels of the trade union fully tions. The Company strictly adheres to the tions of all employees. In 2022, the total num- utilize the workers' and employees' con- • Comrade Zhu Mengqiao from Fuling • Comrade Su Jingxuan of China Life • Chen Yi, from Chongqing Branch, is a Administrative Measures for Employee Re- ber of employees with labor contracts at China gress to promote democratic management District of Chongqing Branch actively Chongqing Banan District Branch member of the rural revitalization team cruitment in the Branches of China Life and Life was 100,378, with 56.51% of employees and supervision, safeguarding the demo-participated in the fire rescue in Da- actively distributed relief supplies. Su stationed in Xiehe Village, Yunyang. the Measures for Employee Management being female and 6.42% being ethnic minori- cratic rights of workers. In 2022, China liangshan and Beishanping of Fuling. Jingxuan and other volunteers raced During a recent firefighting operation, in the Branches of China Life, among other ties. Life held the eighth and ninth workers and After the fire broke out, Zhu Mengqiao against time to load pieces of mineral Chen participated in the rescue efforts company policies, to safeguard the rights employees' congress of the third session of quickly mobilized nearby veterans to water and boxes of convenience food and was responsible for handling sup- and interests of its employees. China Life recognizes the challenge of em- the Company and the 10th and 11th workers form a volunteer group, and went to onto material vehicles. plies. On the night of the operation, he ployee turnover and actively monitors turn- and employees' congress of the second ses-the fire scene during their spare time bravely carried heavy extinguishers The Company upholds the principle of em- over rates while conducting assessments to sion of the headquarters organs, solidifying and on weekends to participate in the and returned to the mountain forest to ployment diversification and equal opportu- identify the causes of employee departures. It democratic management practices within the rescue as volunteers. extinguish remaining embers after the nities. Striving to prevent any discrimination implements targeted measures to optimize and enterprise. As of December 31st, 2022, the initial fire had been put out. based on factors such as gender, region, ethnic improve retention rates. In 2022, China Life workers and employees' congress of China group, religion, age, marital status, disability, maintained a stable trend in employee turno- Life covered 100% of its employees. political stance, in recruitment, salary, training, ver rates, which were at 1.99%. The total number of employees with labor contracts at China Life was 56.51% 100,378 Female employee ratio The coverage ratio of workers and employees' congress of China Life reached 100% 6.42% Ethnic minority employee ratio

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 52 53 Employee developments Employee care At China Life, we place great importance ensure continued motivation and engagement. agement Measures on External Qualifications At China Life, we prioritize the welfare and Law of the People's Republic of China, the financial-level co-construction support, along on the career development of our employees We recognize the importance of employee and establishing an external qualification data- well-being of our employees. We adhere to Regulation on Work-Related Injury Insur- with a special fund of RMB 100,000 from the and strive to offer transparent and equitable growth and have developed several systems, base, which motivates them to obtain qualifi- the country's policies on labor and person- ance, and other relevant laws and regula- financial trade union. Through our concerted promotion opportunities for all staff members. such as the Management Measures for Staff cations outside of the Company. nel, as well as regulations on salary and wel- tions. We provide regular medical examina- efforts, we successfully constructed 60 homes To achieve this goal, we have established a Education and Training of China Life and To further support employee development, fare, and have developed a comprehensive tions for our employees. We also understand for workers at the group level, and received the comprehensive personnel training program, Management Regulations on the Annual Staff we provide specialized training for employees salary and benefits system that covers all the importance of mental health and offer group's special co-construction fund of RMB including the Measures for Employee Perfor- Training Plan of China Life. These systems at all levels, to support their development and our employees. We also promote work-life 7\*24 psychological consultation services 3 million. We also constructed an additional 5 mance in Branches of China Life. This policy provide all our employees with relevant train- improve our talent management. Our specific balance and are committed to ensuring that for our employees through telephone, video, homes for workers at the company level and outlines differentiated performance appraisal ing that covers basic theory, skills training, career development training programs cover every employee's benefits are effectively and face-to-face consultations. allocated RMB 200,000 in co-construction policies for employees, regular performance professional job training, and professional new employees, grassroots managers, young guaranteed. In 2022, we further refined our Furthermore, we encourage our employees to funds towards the same. evaluations, performance reports and timely qualification training. By empowering em- leaders and professional managers. Our goal benefits management system and revised engage in physical activities to improve their handling of performance complaints. We also ployees in all directions, we improve their is to ensure that we have a sufficient number the Measures on Management of Employee overall health. In 2022, we organized the "Pas- The number of employees receiving link performance targets to variable salaries, abilities. We encourage employees to improve of talented employees with a complete skill- Benefits at Branches of China Life, which sion China Life" competition at our headquar- support and condolences in 2022 providing financial incentives to employees their professional skills by publishing Man- set and a reasonable structure. has effectively enhanced the happiness and ters and had 4,810 participants. We continued reached who meet or exceed their performance goals to sense of belonging of our employees. to support the "Home to Workers" initiative. Special Training Program in 2022 We also prioritize the occupational health of This initiative aims to construct recreational 2,509 our employees and comply with the Labor spaces for our employees, and we received Cooperative training with external profes-Training of leaders Training for fresh graduates sional institutions Case: China Life launched the "Red Power, Keep Reading" activity The Company has established the Cadre China Life has continued to promote the train- China Life has partnered with several pro-Education and Training System, which aims ing program for fresh graduates, which includes fessional training institutions, including to continuously enhance the education and a three-year and four-level training system for Shanghai Futai, KNX, and China-Europe training of leaders, improve the curriculum entry, employment, promotion, and advance- Business School to provide management In 2022, China Life initiated the "Red 13,990 employees from across the Company The company-wide numbers of partic-system for management training before and ment. Through this system, the Company accel- training programs for its headquarters, pro- Energy, Keep Reading" staff reading and participating in the activity, it significantly ipants in this activity was during their appointment, and promote lead- erates the process of assisting "new generation" vincial, municipal, and county-level compa- sharing activity, which recognized 300 stimulated the staff's passion for reading ership development and advancement for all employees in familiarizing themselves with nies. These programs cover seven types of awards under categories such as "Learning and learning, creating a positive reading at-leaders in China Life. This system strength- the Company's operations, adapting to job re- management leaders. and Reading", "Perusing and Sharing", and mosphere within the organization. 13,990 ens their ability to manage enterprises in all quirements, and integrating into the Company's In 2022, the Company collaborated with Gro- "Reading and Imagination". With a total of directions. culture through training, grassroots internship, way, a consultancy, to offer training courses In 2022, the Company collaborated with and follow-up mentoring. that aim to train junior, middle, and senior em-the Central Party School of the CPC to hold The Company has created the Spreading ployees into part-time lecturers. This initiative several special training courses on party Wings Program, a training program for fresh has resulted in a three-level training system for spirit. This initiative was designed to en- graduates in branches. Adhering to the princi- part-time lecturers and has helped the Compa- Case: Women care activities hance the political awareness and the ability ple of "strict selection, intensive training, and ny to develop a team of authorized lecturers of the departmental and divisional leaders focus on practices", the program sets up sev- for its branches. at the headquarter, executives of provincial en training mechanisms for fresh graduates, In 2022, China Life promoted several women's care activities and strengthened support for its companies and top leaders of city branches. including rotation training, double mentor- The coverage rate of special collective female employees through practical measures. These activities included: ship, practices in base, professional training, contract for female workers reached practical exercises, follow-up assessment, • Holding a special event on "Emotional Management and Living a Happy Life" and inviting re-and prioritized promotion. This program nowned developmental psychologists to share their expertise on goal-decompression strategies accelerates the training and development of and the happiness laws in the new era. Representatives from various departments of the Com- 100% young talents and provides strong support for pany participated in the event at the main venue in Beijing, and over 10,000 female employees the quality development of the Company. took part online and offline. The number of female workers in difficulty whose files were refined Case: • Promoting the establishment of care rooms for female employees, and successfully com- in 2022 was China Life Lectures training program pleting the installation of facilities and activity schedules in these spaces to provide a comfortable resting area for female employees. 487 In 2022, the Company launched the "China Life Lectures" program, which invited experts and scholars from the Central Party School of the CPC, universities, and professional institutions to conduct various special training sessions for our employees. This program proved to be highly successful, with 421,000 participants and a total training time of 45 hours.

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 54 55 04 Credit of China Life China Life insists on operating in compliance with laws and regulations. The Company takes proactive measures to identify and mitigate potential risks in its business operations and remains fully dedicated to practising and upholding business ethics in all its activities. China Life actively promotes the building of a clean and honest organization, and has implemented various anti-corruption and anti-money laundering regulations. As a result, the Company has achieved new results in the development of cor-Sound Governance porate governance. Sustainable Governance Responsible Governance

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 56 57 Sound Governance China Life is committed to integrating laws and regulations into the whole process of the Company's operation. The Company actively collaborates with investors to enhance the transparency of information disclosure, providing a good guarantee for the Company's operation. Expanding investor communication Improving corporate governance China Life has thoroughly implemented local line and offline throughout the year. These China Life has continuously improved regulatory requirements for listed compa- events attracted 1,995 analysts and investors investor communication methods, with a nies and has made efforts to expand investor and garnered 37,439 views of live webcasts. focus on efficiency and convenience. The China Life continuously improves corporate promotes work related to the general share- As of December 31, 2022, the Board of services and communication channels. The Additionally, the Company held 38 online Company has utilized various tools such governance to ensure the effectiveness and holders meetings, the Board of Directors, and Directors comprises 8 directors, including Company has also improved communication non-deal roadshows to showcase its perfor- as email, telephone, and the internet to standardization of corporate governance with the Board of Supervisors in accordance with 1 female director. The Directors are expe- efficiency with the capital market and inves- mance. Throughout the year, 154 communi- establish a communication platform for a perfect governance system. The Company the relevant rules of procedure. In 2022, the rienced in industry development, financial tors. cation meetings with investors and analysts investors. In addition, China Life has been strictly abides by the regulatory requirements Company held 4 general shareholders meet- risk identification and prevention, financial In 2022, the Company organized various were held through the internet, telephone, timely sharing company information and and listing rules of its listing location. To im- ings, 14 meetings of the Board of Directors, audit, law and compliance management, forms of investor communication activities, and offline meetings, including 61 online news with investors through its official We-prove transparency, China Life continuously and 7 meetings of the Board of Supervisors. and sustainable development. All chairmen including four annual, semi-annual, and domestic and foreign investor conferences, Chat account and WeChat mini program for refines its information disclosure system and of the Special Committees under the Board quarterly performance conferences both on- with a total of more than 1,500 participants. investor relations., ensuring convenient and enhances the quality of its disclosures. The China Life attaches great importance to the of Directors are independent directors, and timely access to investor information. Company proactively engages with investors, diversity of the Board of Directors and con- members of the Audit Committee are also ensuring that all investors, especially small siders various major factors when nominat- independent directors with professional and medium-sized investors, have equal and ing and appointing directors, including gen- backgrounds and experience in financial au-accurate access to investment decision-making der, age, professional qualifications, industry diting and law and compliance management. Enhance information disclosure information. In addition, China Life solidly experience, and educational background. China Life has implemented a comprehen- solvency supervision system (referred to as Life continuously promotes the information sive and rigorous information disclosure "the second generation of solvency system" disclosure of "Comprehensive Health and workflow and system to ensure the quality below). The Company also places great em- Endowment Insurance". The Company won Shareholders Meeting and effectiveness of its information disclo- phasis on voluntary information disclosure, an A-level evaluation of information disclosure. In 2022, the Company not only comply particularly regarding its online insurance sure for listed companies on the main board with regulatory requirements and improved business and city-specific commercial health of the Shanghai Stock Exchange in 2021-its corporate governance, but also disclosed insurance business, and set up a special sec- 2022. information on its solvency ratio under the tion of "Insurance Product Analysis" to en- Board of Supervisors second-phase rules of the second-generation rich product information disclosure. China Board of Directors Operating in compliance with laws and regulations Board Secretary/Board Secretariat/Company China Life has been committed to enhancing corporate governance efficiency, resulting in agement and Consumer Rights Protection secretary corporate governance by strengthening the the development of a more mature and stan- Committee, to promote the "System Compli-leadership of the Party and reinforcing the dardized modern financial enterprise system ance Year" activities. Furthermore, the "three rules and regulations of the Company. It has that reflects Chinese characteristics. lines of defense" in compliance management undertaken various tasks such as establishing Moreover, China Life has consistently im- have been leveraged to optimize compliance new regulations and reviewing and eliminat- proved its compliance management system and operation mechanisms, enhance compliance, ing ineffective systems, organizing system and improve the efficiency of compliance Nomination and Risk Management and Strategy and Assets and Connected clean-up and investigation, and promoting corporate governance structure by adhering management. Audit Committee Remuneration Consumer Rights Liabilities Management Transactions Control to the local regulations for listed companies. the development of a systematic, scientific, Committee Protection Committee Committee Committee The Company has utilized the professional standardized, and effective governance sys- committees of the Board of Directors, such tem. As a result, the Company has effectively as the Audit Committee and the Risk Man-Governance framework of China Life transformed the system's advantages into

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 58 59 Sustainable Governance Anti-money laundering China Life has made significant progress in tion and identification system by integrating China Life adheres to the business philosophy of stability, integrity, and compliance, with a focus on forward-thinking planning and systematic thinking. The Company constantly improves its risk management system, implements the construction of a clean organization, and strengthens sup- enhancing its anti-money laundering risk man- artificial intelligence and machine learning ply chain compliance management. agement system through various investigation technologies, which is a first in the insurance initiatives, including anti-money laundering industry. This has resulted in a 50% increase self-examinations and self-corrections, in- in the average processing efficiency of a Risk management vestigations of key issues, special inquiries single suspicious transaction and a recogni-into suspicious cases, and high-risk customer tion accuracy of 96%. In August 2022, the investigations. In 2022, the Company amend- Company initiated an extensive campaign to ed the Measures for the Administration of raise anti-money laundering awareness, with In terms of risk management, China Life shifting its risk preference towards a "peo- adjustment of comprehensive risk rating in- Anti-Money Laundering and Anti-Terrorist the theme "Compliance with Anti-Money considers risk prevention and control as the ple-centered" development concept. It fur- dicators under the second-phase rules of the bottom line and cornerstone of its devel- ther improved the Rules of Procedure for the second generation of solvency system, and Financing, as well as the Regulations on Risk Laundering Laws and Regulations, Enhancing opment. The Company focuses on the con- Risk Management Committees of Provincial continuously improved its data management Assessment, Classification and Management Anti-Money Laundering Awareness". The struction of its financial risk management Branches and the Headquarter, Regulations of comprehensive risk rating. The Company of Customer Money Laundering and Terror- campaign was successful in attracting over 2.7 system and deeply optimizes risk manage- for Comprehensive Risk Management, the strictly carried out annual self-assessment ist Financing. Additionally, the Company million participants, including more than 0.57 ment measures to effectively improve its seven types of risk management systems, work and promoted solid rectification. In risk prevention and control. supporting systems and detailed rules for 2022, the Company maintained a good improved its anti-money laundering verifica- million professionals in the insurance industry. Guided by regulatory requirements, the solvency risk management. The Company rating on its comprehensive risk rating, Company continuously upgrades its risk ensured that the requirements of the second keeping its Class A rating for 19 consecu-management system. In 2022, China Life ac- generation of solvency system are fully inte- tive quarters, effectively highlighting the Anti-corruption tively adjusted the organizational leadership grated into the institutional framework. Company's risk management and control and top-level design of risk management, China Life responded proactively to the efficiency. China Life is committed to upholding a culture of clean governance Intelligent risk control and strictly adheres to the internal regulations of the Communist Party The Negative List of Performance for of China, including The Constitution of the Communist Party of China, The Norms Regarding Intra-Party Political Life In New Situation, The Top Leaders at All Levels—Bidding China Life pays attention to technological empowerment, continuously increases investment in intelligent risk control, and continuously promotes the application of new technologies such as big data and artificial intelligence in the field of risk management. Through these efforts, China Life has achieved the integra- Code of Integrity and Self-discipline of the CPC, The Code of Integrity and Procurement tion and sharing of risk data, streamlined the management of risk control information resources, and digitized and automated risk control management methods. and Self-discipline of the CPC, and Rules on Integrity of Executives of State-Owned Enterprises. The Company actively promotes anti-corrup- Top leaders are strictly prohibited from tion measures to maintain integrity and transparency. recommending suppliers to the procurement Develop an Intelligent Early Warning System of Sales Risk Introduce the Investment Risk Management Infor- department during centralized procurement, mation System (Phase II) To bolster its anti-corruption efforts, the Company has devel-The Intelligent Early Warning System can identify potential sales risks by analyz- This information system enhances the capability oped and implemented The List of Key Areas and Steps of daily procurement, and infrastructure pro- • • jects, whether done explicitly or implicitly. ing various risk factors associated with sales personnel. The system is designed to to accurately measure risk distribution and chang- Anti-corruption (Trial) and The Negative List of Top Leaders' identify high-risk sales individuals and maintain a ledger of their activities. Fur- es, enabling prompt observation of the overall Performance (2022). Additionally, The Company has also re- Top leaders are not allowed to approve ven-thermore, it can investigate and prevent abnormal sales behavior, as well as detect investment risk situation of the Company, and inforced the accountability mechanisms for its top leaders by dors who have a benefit-based relationship and mitigate potential sales violations in a timely manner. It also allows for risk improves the precision level of investment risk with them. Additionally, splitting projects to classification and effective control of sales personnel. management. precisely outlining rules regarding duty performance, bidding and procurement, personnel appointments, and performance ap- avoid centralized procurement and decisions Promote the Intelligent Sales Misinformation Identification System praisals. China Life firmly adheres to a "zero tolerance" policy made by the Party Committee is prohibited • The information system can monitor the imple- The Company has provdied sales staff with self-query services for training materi- mentation of the Company's asset allocation pol- towards corruption, and in 2022, no lawsuits related to corrup- for top leaders. • icy by measuring asset risks to enhance the value als and courseware compliance. As of 2022, the system has registered over 500,000 tion involving the Company were reported. of risk management. logins. Promote the Workplace Risk Control Platform • By project risk assessment and performance evalua- China Life Insurance has established a regular and standardized system for internal review, audit, performance appraisal, and reward and punish-tion, the system can strengthen the whole process control of investment risk and enhance the effi- ment. This system encompasses all the relevant business lines of the Company and undergoes regular external supervision. China Life also actively • The platform expands risk management and control to the frontline of the work- ciency of investment risk management. place, enhances compliance management of sales staff, and strengthens front-end implements any necessary rectifications to ensure compliance and best practices. risk management and control. In 2022, the Company investigated its implementation of the Eight Central Regulations. The Internal audit Preventing illegal fund-raising review covered the whole system and aimed to ensure compliance with these regulations. The Company has implemented the Meas- tion campaigns aimed at preventing illegal Life organized nearly 10,000 activities at ures for the Administration of Preventing fund-raising. China Life actively promotes its outlets, with an accumulated attendance In the same year, the Secretary and Deputy Secretary of the Discipline Inspection and Disposing of Illegal Fund-Raising and a culture of prevention of illegal fund-rais- of 700,000. As part of the campaign, the continues to enhance its top-level design ing and participates in events such as the Company produced 1,491 short videos for Commission conducted more than 40 talks about clean organization with newly ap-and architecture system to effectively pre- "Keep Your Money Safe and Protect Your the short video collection contest to prevent External supervision pointed department and divisional-level personnel at the headquarters and the man-vent and address any instances of illegal Happy Family" campaign organized by the illegal fund-raising, which has effectively agement team of provincial branches. During these talks, they emphasized the impor-fund-raising. Additionally, the Company is China Banking and Insurance Regulatory expanded its social influence in preventing tance of clean organization discipline and put forward relevant requirements. committed to strengthening its public educa- Commission. During the campaign, China illegal fund-raising.

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60 At China Life, we place great emphasis on tion practices, anti-corruption regulations, and 31, 2022, all members of our board of directors, providing regular business ethics training to our laws and regulations related to business ethics. board of supervisors, and executives partici-full-time and part-time employees. Our training We also provide targeted trainin g based on job pated in the "Special Training on Anti-money programs cover a broad spectrum of topics, levels to ensure that all employees receive the Laundering for Directors, Supervisors, and including integrity education, clean organiza- appropriate level of training. As of December Executives," which lasted for 0.5 hours. Training and Courses for the Management • The "Party's Work Style and Clean Government Education" column has been published on China Life E-learning, along with the launch of three special courses aimed at party members and leaders of the whole system. These courses have received significant participation, with 60,657 people completing the study of the Party Conduct and Integrity Pocket Book (2022), spending a total of 121,314 hours on the course. Similarly, the Xi Jinping's Opinions on Building a Clean Party and Combating Corruption (2022) had 51,206 people enrolled and a total study time of 76,809 hours, while the Compilation of Systems for Implementing the Eight-point Regulation of the Centre, was completed by 61,228 people, who spent 91,842 hours on the course. • As part of our efforts towards clean organization education, we also offer advanced training courses for young cadres and new local team members, which include clean government courses.bzhan Training and Courses for Employees and Marketing Partners • All our employees and marketing partners have studied the China Life Corporate Culture System (2022), with an impressive 1,006,000 participants completing the course. Our corporate culture system promotes the business philosophy of "honesty, innovation, human cen-teredness and value," emphasizing adherence to modern business ethics in our business development. • Furthermore, all our employees have participated in the Education and Training Course on Integrity Compliance and Administrative Punishment Warning, with 94,027 people completing the course, and a total study time of 188,054 hours. Whistleblower protection China Life has established multiple reporting authenticity of the reported issue. Once the has also implemented additional measures channels and methods to report instances of problem is verified, the commission members to safeguard the identities of whistleblow-disciplinary violations. These channels include handle it according to regulations and compa- ers. These measures include encrypting and a telephone number and mailing address that ny policies. protecting their personal information and are prominently displayed on the official web- To protect the legal rights of whistleblowers, prohibiting anyone from tracing their iden-site. Upon receiving a report, the Commission China Life adheres to The Rules for Han- tities without proper authorization. Any in-for Discipline Inspection member conducts dling Accusations by Disciplinary Inspection dividual or entity found violating these rules verification through conversations, letters and and Inspection Authorities. The Company will face disciplinary actions in accordance preliminary investigations to ascertain the with company regulations. Supply chain management China Life adheres to the Bidding Law of the ment requirements to suppliers and promotes pany uses the scores of suppliers' annual People's Republic of China and other relevant anti-corruption. China Life makes it clear in reviews as the basis for their classification, laws and regulations. To ensure procurement its Statement to Suppliers that suppliers must which ensures the quality of supply services quality, the Company has established and commit to ethical business practices during the while facilitating differentiated supplier continually improves its supply chain manage- cooperation, actively maintain a fair and clean management. In cases of supplier violations, ment process. This includes the formulation business environment, abide by international China Life strictly follows the supplier with-of Regulations on Supplier Management, En- anti-corruption conventions, protect the legit- drawal mechanism and implements correc-vironmental, Social, Governance and Green imate rights and interests of their employees, tive measures such as requiring suppliers to Financial Management Regulations, and other and comply with laws and regulations related make improvements within a specified time documents that aim to build a sustainable sup- to environmental protection. frame, disqualifying partnership eligibility, ply chain. China Life integrates ESG evalua- China Life has put in place a supplier man- implementing penalties, and blacklisting. tion standards into supplier management, fo- agement system that enables the effective As of December 31, 2022, China Life has cusing on suppliers' performance in areas such management of supply chain risks. This sys- 29,442 registered suppliers for centralized as information security, occupational health tem encompasses risk identification, classi- procurement, including 179 overseas suppli-and safety, and environmental management. fication, and regular assessment. The Com- ers. The Company further refines its ESG manage- Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 61 Responsible Governance China Life is committed to implementing its ESG strategy by continuously improving its ESG governance structure, carrying out ESG risk management, and enhancing ESG management. ESG strategy China Life has set a ESG strategic goal of becoming a world-class and responsible life insurance company, guided by the ESG strategic concept of being people-oriented, caring for life, creating value, and serving society. To achieve this goal, China Life has developed an ESG and social responsibility strategic model that encompasses three dimensions: environment, society, and governance, and considers the interests of seven stakeholders, including the country, society, industry, customers, enterprises, employees, and the environment. The Company has formulated The ESG & Social Responsibility Strategy Plan (2021-2025), to gradually promote ESG management and lead the life insurance industry in ESG management by 2025. Phase III 2024 — 2025 ° Pursuing Country excellence ° Deep integration y t h a l Leading e ° t Clienth n Society e e development t h m e p r l olife s u v e Ensure E n e health the dhealthy right the E Phase II 2022 — 2023 of n Ensure v i r ° Fully G o n o Build a world-class m improvement v e and responsible life t n insurance company ° Systematic the healthy Ensure the ernan Ensure upgrade healthy promotion c Environ- environment e ment Industry Regular Ensure ° management healthy the operation the Ensure healthy Phase I 2021 growth ° Laying a solid Employee foundation Enterprise ° Improving key points Society ° Laying a solid foundation China Life strategy model Three phases promotion of ESG strategy

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 62 63 ESG and green finance management structure ESG and green finance management system China Life is dedicated to establishing a robust ESG and green finance management structure that features well-defined roles and responsibilities. China Life has implemented Environmental, as the organization and management of ESG To manage ESG risks, China Life has formu-In line with the Guidelines on Green Finance for the Banking and Insurance Industries, which were issued by the China Banking and Insurance Social and Governance and Green Finance and green finance, routine construction, ESG lated Measures on ESG Risk Management Regulatory Commission in 2022, the Company upgraded its ESG and green finance management structure from its existing ESG management sys- Management Regulations, in accordance with risk and internal control management, and (Trial). These measures clearly define the risk tem, thereby ensuring that roles and responsibilities for ESG and green finance management are clearly defined. the green and low-carbon development goals, institutionalization of major work items such management process, which includes risk China Life ESG and green finance management structure environmental protection laws and regulations, as green investment, green insurance, green identification, risk assessment, risk response industrial policies, industry access policies, operation, green workplace, environmental and control, following and improvement of and other regulations, to standardize the Com- target management, ESG rating management, risk trends, reporting and filing, to compre-• Taking on the main responsibility of promoting the Company's green finance, pany's ESG and green finance management climate change response, ESG supply chain hensively improve the risk management capa-ESG, and other sustainable development initiatives. system. The Regulations cover key areas such management, and social welfare. bility. • Establishing and implementing green development concepts, include those related to the economy, low carbon, environmental protection, and sustainable development. Board of Directors • Leveraging the Company's resources and influence, the Board of Directors Governance promote the construction of an ecological civilization system and drive comprehensive green transformation in economic and social development, with ESG risk management process the aim to establish a sustainable development model that benefits both the Company and society. Strategy and Assets and Liabilities • The Committee is responsible for the management and supervision of sus- Identify and assess points of ESG risk faced by the Company during its operations, establish a compre-Management Committee of the Board tainable development initiatives, such as low carbon measures, environmen- Risk identification hensive ESG risk database, conduct an annual review of ESG risks at least once a year, and ensure timely of Directors tal protection and green finance. updates to the risk library. • The Office is responsible for taking on specific tasks related to sustainable President's Office development management, such as ESG initiatives and green finance, as authorized by the Board of Directors. Management • The Committee's role is to guide, coordinate and supervise the system-wide Score points of risk in the ESG risk library from three dimensions: impact, frequency and occurrence ESG/Green Finance Committee sustainable development management work in all aspects, including ESG and Risk assessment speed; and divide ESG risk into three levels based on the scores. green finance. Brand and Public Relations Department/Reputation Risk Management • This department is the lead department for sustainable development manage-Department (Office of the ESG/Green ment, including ESG and green finance. Finance Committee) Upon completion of the annual ESG risk assessment, implement appropriate measures and controls based Execution Risk response and Relevant departments of the headquar- on the level of ESG risk identified. In the event of a major ESG risk incident, the ESG Risk Emergency ter, provincial branches and profession- control • These departments are responsible implementing ESG and green financial Leading Group will provide leadership and oversee response efforts. al institutions directly under provincial management tasks. branches, and city and county branches Board of Directors Trend following and Continuously monitor industry trends related to ESG risk, update the ESG risk library in time and im-improvement prove relevant special solutions for ESG risk. Approval Report Strategy and Assets and Liabilities Management Committee of the Board of Directors Approval Report Conduct at least one assessment of ESG risk management. Issue an annual ESG risk management assess- Reporting and filing ment report and ESG risk identification and judgment based on the assessment. President's Office Approval Report ESG/Green Finance Committee Approval Report ESG/Green Finance Office In 2022, China Life identified the top five ESG risks as information security risks, climate change risks, corruption risks, human capital and customer relationship management risks, and talent attraction and retention risks. To address these risks, the Company has developed targeted manage-Relevant departments of the headquarter, provincial ment strategies to closely monitor the progress and trends of each risk. branches and city and county branches China Life ESG and green finance management structure

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 64 65 Materiality analysis Materiality principle China Life carefully analyzes and consoli- uating material ESG issues. This includes gagement and interviews. As a result of this As part of its commitment to sustainable development, China Life prioritizes the suggestions and needs of its stakeholders. This involves continu- dates stakeholder expectations and demands, conducting multidimensional research and process, China Life has identified 19 ma-ally gathering stakeholder expectations and demands through efficient and effective communication channels and responding to them in a practical and adheres to the Environmental, Social analysis, such as macro-policy research, terial ESG issues based on their relevance and effective manner. and Governance Reporting Guide issued analysis of domestic and international social to both stakeholder concerns and company by HKEX. The Company also implements responsibility standards, strategic planning, development. These issues have been con-a rigorous process for identifying and eval- industry benchmarking, and stakeholder en- solidated into an ESG matrix for 2022. Stakeholders Expectations & Appeals Mode of Communications Operate in compliance with laws and regulations Work report and communication Materiality Identification Process Pay taxes according to laws Participate in meetings and major activities Create job opportunities Documents and special reports Government and Serve the national strategy Regulators Accept supervision Prevent risks Identification Survey Analysis Confirmation Shareholders' meeting Create stable returns Regular announcements and roadshows Improve corporate governance Press conference Strengthen investor relationship management Meeting of analysts Comparison with Influence on the Analysis from Confirm material Shareholders and Disclosure information in a timely, accurate and Arrange investors and analysts to survey branches and domestic and foreign Company management of the issues and have Investors complete manner subsidiaries industrial standard Influence on stake- Company materiality matrix of China Life Good faith and quality services Smart service processes Development strat- holders Anylysis from ex-Satisfactory customer experience Survey of customers demand/satisfaction egy and plan of the ternal experts Rich insurance products Service hotline Company Handling of customer complaints Macro state policies Customers Protect legitimate rights and interests Characteristic customer activities and value-added services Analysis of domestic Daily informal communication and foreign standards Sign cooperation agreements for social responsibility Fair competition Morning sessions and symposiums of sales agents Good faith and mutual benefit Partners Special surveys and lectures Survey of related parties Materiality Matrix Materiality Identification Process Pay wages in full and on time Safeguard basic rights and interests Congress of workers and staff Assurance for salary and benefits Employees symposiums Occupational health and safety Training of employees Very Employees Career advancement and development Help needy employees Implementing major national Financial risk prevention Care for employees President's letter box Win-win partnership Information safety and control High strategies Rural revitalization Investigate the needs and satisfaction of employees Community communications and surveys Inclusive financial Upgrading customer Responding to climate change Protecting consumers' rights Promote local employment Carry out public welfare activities Green finance experience Take part in public welfare programs Volunteer services DevelopmentImportance Drive community economy Disaster relief for of Rural revitalization Insurance for poverty alleviation, e-commerce poverty the Science and Technology Community & Public Public welfare program Innovation Corporate governance Product Diversity Serve people's livelihood alleviation, donations for medical care Develop health insurance and inclusive medical care Stakeholders Sustainable Climatic changes Publicity about environmental protection Supply chain management Protect rights & interests and Leading the development Compliance with Disclosure of environmental information development of employees of the industry laws and regulations Energy saving and emission reduction Public welfare activities of environmental protection Integrated utilization of resources High Environment Green buildings Green offices Electronic service process Importance for the Sustainable Development of China Life Very High

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Engine of China Life Efforts of China Life Responsibilities of China Life Credit of China Life 66 67 United Nations Sustainable Development Goals (SDGs) Invested cumulative RMB 239 million in rural assistance, RMB 138 million in assistance through conception. Established over 300 youth volunteer teams with more than 7,000 registered young volunteers, resulting in over 1,500 volunteer events and more than 30,000 participants in volunteer service. Donations to China Life Charity Foundation reached RMB 34 million. Implemented more than 100 city-specific medical insur-Donated 11 million public welfare insurance products, leveraging the charac-ance projects, with 50 newly added in 2022 and a cumula-teristic role of commercial insurance in helping and assisting. tive insured people of 22 million. Provided nearly 90 million student insurance products, with a total of 28.5 trillion insured amounts. Underwrote more than 52 million endowment insurance policies, accumulating over RMB 1.7 trillion in pension reserves for residents. Continued the "China Life Little Painters" art education activities for 12 consecutive years. Protected the rights and interests of women workers and promoted gender Providing careers for over 100,000 employees. equality. 2,509 employees received assistance and condolences Refined 487 files of women employees with difficulties. The signing rate of women employee collective contracts reached 100%. Completed the signing of China Life Investment-Xinyuan Invested about RMB 1.5 billion in ESG and green finance portfolio, and the accumu- Yihao equity investment plan; partnered with entities under lated scale of green investment in stock exceeded RMB 430 billion. China Energy Investment Corporation to jointly invest in clean energy projects, such as wind power and photovoltaic Advocated for a paperless work style and saved resources by achieving a 99.99% projects. of paperless operation rate in individual business. The company also built a comprehensive online policy service for customers, and the self-service rate of online preservation reached 92.79%.

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68 69 List of Measures and Regulations7 Table of KPI Environmental Performance8 HKEX ESG Guidelines Names Performance Unit 2020 2021 2022 Aspect A1: Emissions The Interim Measures for Energy Conservation and Emission Reduction of China Life Insurance Company Limited Gasoline consumption of the fleet L 20,589,331.69 17,959,731.50 14,496,376.72 Fix Asset Management Regulations of China Life Insurance Company Limited Gas consumption cubic meters 5,628,108.02 6,225,082.64 6,223,777.72 Aspect A2: Use of Resources Vehicle Management Regulations of China Life Insurance Company Limited Coal consumption kg 1,088,744.2 248,905.60 144,094.34 Aspect A3: Environment and Environmental, Social and Governance and Green Finance Management Regulations of China Life Insur-Natural Resources ance Company Limited Diesel consumption L 604,309.24 575,546.18 715,450.91 Environmental, Social and Governance and Green Finance Management Regulations of China Life Insur- Liquefied petroleum gas kg 262,592.65 440,375.95 330,568.93 ance Company Limited Electric power consumption kWh 467,976,768.60 551,218,573.61 536,106,340.74 Regulations for Comprehensive Risk Management of China Life Insurance Company Limited Aspect A4: Climate Change Purchased thermal consumption GJ 5,825,015.22 4,564,593.37 3,219,229.11 Measures for the Administration of Anti-Money Laundering and Anti-Terrorist Financing of China Life Insurance Company Limited Comprehensive energy consumption ton of standard coa 287,676.33 252,559.85 201,009.51 Measures on ESG Risk Management of China Life Insurance Company Limited (Trial) kg standard coal / RMB Comprehensive energy consumption density 3.49 2.94 2.43 Administrative Measures for Employee Recruitment in the Branches of China Life Insurance Company Limited 10,000 revenue Aspect B1: Employment Measures for Employee Performance in Branches of China Life of China Life Insurance Company Limited Measures on Management of Employee Benefits at Branches of China Life of China Life Insurance Company Limited Total greenhouse gas emission tons 1,104,841.23 1,062,662.36 708,241.70 Aspect B2: Health and Safety / Scope I (including greenhouse gas emissions tons of carbon dioxide equiva-61,770.86 56,112.28 48,385.05 from all fuel combustion) lent Management Measures for Staff Education and Training of China Life Insurance Company Limited Aspect B3: Development and Management Regulations on the Annual Staff Training Plan of China Life Insurance Company Limited Scope II (including greenhouse gas emissions tons of carbon dioxide equiva-1,043,070.36 1,006,550.08 659,856.65 Training Management Measures on External Qualifications of China Life Insurance Company Limited from purchased electricity used) lent Measures for Employee Performance in Branches of China Life Insurance Company Limited kg CO2 equivalent / RMB Greenhouse gas emission density 13.39 12.38 8.57 Aspect B4: Labour Standards Measures for Employee Management in the Branches of China Life Insurance Company Limited 10,000 revenue Aspect B5: Supply Chain Man- Environmental, Social and Governance and Green Finance Management Regulations of China Life Insur- Waste batteries pieces 673,105 646,607 565,347 ance Company Limited agement Waste ink boxes pieces 111,924 111,585 95,720 Regulations on Supplier Management of China Life Insurance Company Limited Waste toner cartridges pieces 72,390 74,050 64,645 ESG/Green Investment Basic Guiding Rules of China Life Asset Management Company Limited (Trial) Electronic waste tons 717.59 1,097.82 480.15 User Information Authorization and Personal Information Protection Policy of China Life Insurance Company Limited Aspect B6: Product Responsibility Kitchen garbage tons 2,740.64 3,821.18 3,701.42 Administrative Measures of China Life Insurance Limited for the Protection of Intellectual Property Right Measures on Customer Experience of China Life Insurance Company Limited (Trial) Other office waste tons 2,601.45 2,812.84 2,472.89 Total office paper consumption tons 7,072.73 4,827.09 4,472.58 The List of Key Areas and Steps of Anti-corruption of China Life Insurance Company Limited (Trial) The Negative List of Performance for Top Leaders at All Levels of China Life Insurance Company Limited Total office water consumption tons 8,702,311.3 9,840,934.36 8,278,165.86 Measures for the Administration of Anti-Money Laundering and Anti-Terrorist Financing of China Life In-Aspect B7: Anti-corruption Water use density kg / RMB 10,000 revenue 105.49 114.63 100.21 surance Company Limited Regulations on Risk Assessment, Classification and Management of Customer Money Laundering and Terrorist Financing of China Life Insurance Company Limited Aspect B8: Community Investment Regulations on Public Welfare Donations of China Life Insurance Company Limited 8The calculations were made according to the General Principles for Calculation of Comprehensive Energy Consumption (GB/T 2589-2020) and 2006 IPCC Guidelines for National Greenhouse Gas Inventories. The emission factors of purchased power are calculated with reference to the Notice on the Management of Greenhouse Gas Emission Reporting for Enterprises in the Power Generation Industry from 2023 to 2025 published by the Ministry of Ecology and Environment of the People's Republic of China on February 7, 2023. 7 Only the measures and regulations disclosed in this report are included. Other policies and systems of the Company are not covered.

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70 71 Social Performance Performance Unit 2020 2021 2022 Performance Unit 2020 2021 2022 The number of intellectual property rights The rate of work-related death % / 0.0078 0.0030 / 152 39 38 obtained by the Company The number of day lost due to work-related injury day / 8,870.5 5,779 The number of new product development and / 237 160 88 Training rate of the male employees % / 100 100 upgraded product Social insurance coverage % 100 100 100 Training rate of the female employees % / 100 100 Donate funds RMB 10,000 / / 3,495.98 Average training hours for employees hours 111 119 114.56 Total public benefit insurance endowment Average training hours for the male employees hours 103 108.30 110.82 RMB 10,000 / / 91,152,240.69 coverage Average training hours for the female employees hours 127 125.97 118.31 The number of male staff person 44,336 43,998 43,656 Training rate of employees % 100 100 100 The number of female staff person 58,167 57,461 56,722 Training rate of new employees % 100 100 100 The number of staff in mainland China person 102,496 101,450 100,362 Training rate of senior and middle manage- % 100 100 100 The number of overseas staff 9 person 7 9 16 ment employees The number of senior and middle manage- General employee training rate % / 100 100 10 person / 159 159 ment staff Average training hours for senior and middle hours 162.4 156.15 159.53 The number of general employees person / 101,300 100,219 management employees The number of salesmen in ten thousand 145.8 89 72.9 Average training hours for normal employees hours 105.3 113.09 109.46 Total number of contracted employees person 101,528 101,459 100,378 The number of trainers in the system person 220,363 176,423 143,189 The number of employees aged under 35 person 47,953 38,494 36,085 Network courseware pieces 5,805 7,354 5,912 The number of employees aged from 35 to 50 person 40,974 48,596 49,184 The number of people learning onlin in ten thousand 2,358.2512 2,914.5076 2,813.2131 The number of employees aged over 50 person 13,576 14,369 15,109 The number of people taking the online exam in ten thousand 189.11 272.85 276.39 The number of ethnic minority employees person 6,431 6,486 6,442 Employee training and development expenses in RMB 100 million / 1.776 0.9449 Annual employee turnover rate % / 2.78 1.99 The number of registered suppliers in central- / / 21,524\* 29,442 ized procurement Turnover rate of the male employee % / 3.05 2.17 The number of new registered suppliers in Turnover rate of the female employee % / 2.55 1.85 / / 9,341\* 7,918 centralized procurement Turnover rate of employees aged under 35 % / 5.68 4.35 The number of new registered suppliers in / / 9,288\* 7,865 Turnover rate of employees aged from 35 to 50 % / 1.09 0.73 centralized procurement in mainland China Turnover rate of employees aged over 50 % / 0.30 0.20 The number of new registered suppliers in centralized procurement in Hong Kong, Ma- / / 23\* 36 Turnover rate of employees in mainland China % / 2.78 1.99 cao, and Taiwan China Turnover rate of employees overseas % / 0 0 The number of new overseas registered sup- / / 30\* 17 Total amount of new employees person / 3,894 3,515 pliers in centralized procurement The number of work-related death person / 8 3 \* After adjustment, we retroactively updated some data in 2021. 9 Number of contract employees from Hong Kong, Macao, Taiwan and foreign countries working in the China mainland. 10 Definition of middle and senior management: senior managers of the head office and members of the general manager office in provincial branches, excluding the full-time secretary of the Discipline Inspection Commission.

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72 73 ESG Index General Disclosure and KPIs Response General Disclosure and KPIs Response Environmental A3 Environment and Natural Resources General Disclosure P18-21 A1 Emissions Description of the significant impacts of activities on the environment and natural resourc- A3.1 P18-21 General Disclosure P18-21 es and the actions taken to manage them. A4 Climate change A1.1 The types of emissions and respective emissions data. P69 General Disclosure P22-23 Direct (Scope 1) and energy indirect (Scope 2) GHG emissions (in tonne) and, where ap- Description of the significant climate-related issues which have impacted, and may impact, A1.2 P69 A4.1 P22-23 propriate, intensity (e.g., per unit of production volume, per facility). the issuer, and the actions taken to manage them. Social Total hazardous waste produced (in tonne) and, where appropriate, intensity (e.g., per unit A1.3 P69 Employment and Labor Practices of production volume, per facility). B1 Employment Total non-hazardous waste produced (in tonnes) and, where appropriate, intensity (e.g., per A1.4 P69 General Disclosure P51 unit of production volume, per facility). Total workforce by gender, employment type (full-time or part-time), age group and geo-B1.1 P70 graphical region A1.5 Description of emissions target(s) set and steps taken to achieve them. P18-21 B1.2 Employee turnover by gender, age group and geographical region P71 Description of how hazardous and non-hazardous wastes are handled, and a description of B2 Health and Safety A1.6 P18-21 reduction target(s) set and steps taken to achieve them. General Disclosure P53 A2 Use of resources Number and rate of work-related fatalities in each of the past three years (including the re- B2.1 P70-71 porting year). General Disclosure P18-21 B2.2 Lost days due to work-related injury. P71 Description of occupational health and safety measures adopted, and how they are operated B2.3 P53 Direct and/or indirect energy consumption by type (e.g., electricity, gas or oil) in total (kWh and monitored. A2.1 P69 in '000s) and intensity (e.g., per unit of production volume, per facility). B3 Development and Training General Disclosure P52 A2.2 Water consumption in total and intensity (e.g., per unit of production volume, per facility). P69 The percentage of employees trained by gender and employee category (e.g., senior man-B3.1 P71 agement, middle management). A2.3 Description of energy use efficiency target(s) set and steps taken to achieve them. P18-21 B3.2 The average training hours completed per employee by gender and employee category. P71 Description of whether there is any issue in sourcing water that is fit for purpose, water ef- B4 Labour Standards A2.4 N/A ficiency target(s) set and steps taken to achieve them. General Disclosure P51 A2.5 Total packaging material used for finished products (in tons) and, if applicable, with refer- N/A B4.1 Description of measures to review employment practices to avoid child and forced labour. P51 ence to per unit produced. B4.2 Description of steps taken to eliminate such practices when discovered. P51

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74 75 GRI Index General Disclosure and KPIs Response GRI STANDARD DISCLOSURE LOCATION RESPONSE Operating Practices GRI 1: Foundation 2021 B5 Supply Chain Management 2-1 Organizational details About Us P8-9 General Disclosure P60 2-2 Entities included in the organization's sustainability reporting About the Report P2-3 B5.1 Number of suppliers by geographical region. P71 Description of practices relating to engaging suppliers, the number of suppliers operating 2-3 Reporting period, frequency and contact point About the Report P2-3 B5.2 P60 relevant practices and relevant operation and monitoring methods Description of practices used to identify environmental and social risks along the supply 2-4 Restatements of information About the Report P2-3 B5.3 P60 chain, and how they are operated and monitored. 2-6 Activities, value chain and other business relationships Sustainable governance P60 Description of practices used to promote environmentally preferable products and services B5.4 P60 when selecting suppliers, and how they are operated and monitored. Focus on Personnel De-2-7 Employees P51 B6 Product Responsibility velopment and Training General Disclosure P26-41 2-9 Governance structure and composition Sound Governance P56-57 B6.1 Percentage of total products sold or shipped subject to recalls for safety and health reasons. N/A B6.2 Number of products- and service-related complaints received and how they are dealt with. P40-41 2-10 Nomination and selection of the highest governance body Sound Governance P56-57 B6.3 Description of practices relating to observing and protecting intellectual property rights. P33 2-11 Chair of the highest governance body Sound Governance P56-57 B6.4 Description of quality assurance process and recall procedures. N/A 2-12 Role of the highest governance body in overseeing the man- Description of protection and privacy policies on consumer data, as well as relevant oper- GRI 2: General Sound Governance P56-57 B6.5 P31-33 Disclosures 2021 agement of impacts ation and monitoring methods B7 Anti-corruption 2-13 Delegation of responsibility for managing impacts Responsible Governance P61-67 General Disclosure P58-60 2-14 Role of the highest governance body in sustainability reporting Sound Governance P56-57 Number of concluded legal cases regarding corrupt practices brought against the issuer or B7.1 P59 its employees during the reporting period and the outcomes of the cases. 2-16 Communication of critical concerns Responsible Governance P61-62 Description of preventive measures and whistle-blowing procedures, and how they are op-B7.2 P60 2-17 Collective knowledge of the highest governance body Responsible Governance P62-63 erated and monitored. B7.3 Description of anti-corruption training provided to directors and staff. P59-60 2-18 Evaluation of the performance of the highest governance body Responsible Governance P62-63 Community Focus on Personnel De-2-19 Remuneration policies P51-53 B8 Community Investment velopment and Training General Disclosure P44-50 Focus on Personnel De-2-20 Process to determine remuneration P52 Focus areas of contribution (e.g., education, environmental concerns, labour needs, health, velopment and Training B8.1 P44-50 culture, sport). 2-22 Statement on sustainable development strategy Responsible Governance P61-62 B8.2 Resources contributed (e.g., money or time) to the focus area. P44-50 & P70 List of Measures and 2-23 Policy commitments P68 Regulations

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76 77 GRI STANDARD DISCLOSURE LOCATION RESPONSE GRI STANDARD DISCLOSURE LOCATION RESPONSE 2-24 Embedding policy commitments Responsible Governance P61-63 GRI 206: Anti-com- 206-1 Legal actions for anti-competitive behavior, anti-trust, and Sustainable governance P58-60 petitive Behavior 2016 monopoly practices 2-25 Processes to remediate negative impacts Sustainable governance P58-60 GRI 301: Materials 301-1 Materials used by weight or volume Table of KPI P69-71 2016 GRI 2: General 2-26 Mechanisms for seeking advice and raising concerns Sustainable governance P58-60 302-1 Energy consumption within the organization Table of KPI P69-71 Disclosures 2021 2-27 Compliance with laws and regulations Sound Governance P56-57 302-3 Energy intensity Table of KPI P69-71 GRI 302: Energy 2-28 Membership associations Recognitions in 2022 P10 2016 302-4 Reduction of energy consumption Table of KPI P69-71 2-29 Approach to stakeholder engagement Responsible Governance P64-65 Promoting Low-carbon 302-5 Reductions in energy requirements of products and services P18-23 Operations 3-1 Process to determine material topics Responsible Governance P64-65 Promoting Low-carbon 303-1 Interactions with water as a shared resource P18-23 Operations GRI 3: Material 3-2 List of material topics Responsible Governance P64-65 Topics 2021 GRI 303: Water and Promoting Low-carbon Effluents 2018 303-2 Management of water discharge-related impacts P18-23 3-3 Management of material topics Responsible Governance P64-65 Operations 303-3 Water withdrawal Table of KPI P69-71 201-1 Direct economic value generated and distributed About Us P8-9 305-1 Direct (Scope 1) GHG emissions Table of KPI P69-71 GRI 201: Economic 201-2 Financial implications and other risks and opportunities due Promoting Low-carbon P18-23 Performance 2016 to climate change Operations 305-2 Energy indirect (Scope 2) GHG emissions Table of KPI P69-71 Converging Multiple GRI 305: Emissions 201-3 Defined benefit plan obligations and other retirement plans P26-28 2016 Products 305-4 GHG emissions intensity Table of KPI P69-71 Sticking to Responsible Investment; P16-17, 305-5 Reduction of GHG emissions Table of KPI P69-71 203-1 Infrastructure investments and services supported Converging Multiple P26-28 GRI 203: Indirect Products Promoting Low-carbon Economic Impacts 306-1 Waste generation and significant waste-related impacts P18-23 Operations 2016 Sticking to Responsible Investment; P16-17, 203-2 Significant indirect economic impacts Promoting Low-carbon Converging Multiple P26-28 306-2 Management of significant waste-related impacts P18-23 Products GRI 306: Waste 2020 Operations GRI 204: Procure- 306-3 Waste generated Table of KPI P69-71 204-1 Proportion of spending on local suppliers Sustainable governance P60 ment Practices 2016 205-1 Operations assessed for risks related to corruption Sustainable governance P58-60 306-5 Waste directed to disposal Table of KPI P69-71 GRI 205: Anti-cor- 205-2 Communication and training about anti-corruption policies 308-1 New suppliers that were screened using environmental crite-Sustainable governance P58-60 Sustainable governance P58-60 ruption 2016 and procedures GRI 308: Suppli- ria er Environmental 205-3 Confirmed incidents of corruption and actions taken Sustainable governance P58-60 Assessment 2016 308-2 Negative environmental impacts in the supply chain and ac- Sustainable governance P58-60 tions taken

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78 79 Feedback Form GRI STANDARD DISCLOSURE LOCATION RESPONSE Dear Reader, Focus on Personnel De- Thank you very much for reading this report. We sincerely wish to have your comments on this report to help us continuously 401-1 New employee hires and employee turnover P51-53 velopment and Training improve our social responsibility efforts and enhance our ability to perform social responsibility. GRI 401: Employment 2016 401-2 Benefits provided to full-time employees that are not provid- Focus on Personnel De- P51-53 ed to temporary or part-time employees velopment and Training 403-2 Hazard identification, risk assessment, and incident investi- Focus on Personnel De- P51-53 gation velopment and Training 403-3 Occupational health services Focus on Personnel De- P51-53 Multiple choices (Please" "your choice) velopment and Training 1. Your relationship with China Life: 403-4 Worker participation, consultation, and communication on Focus on Personnel De- P51-53 occupational health and safety velopment and Training Government Investor Employee Customer Supplier/Contractor Focus on Personnel De- Partner Counterpart Community and Public Media NGO GRI 403: Occupa- 403-5 Worker training on occupational health and safety P51-53 tional Health and velopment and Training Others (please specify) Safety 2018 Focus on Personnel De- 403-6 Promotion of worker health P51-53 velopment and Training 2. Your opinions on China Life's ESG performance: 403-7 Prevention and mitigation of occupational health and safety Focus on Personnel De- Excellent Good Average Below average P51-53 impacts directly linked by business relationships velopment and Training 3. Your overall rating of our report is: Focus on Personnel De- 403-9 Work-related injuries P51-53 Excellent Good Average Below average velopment and Training 403-10 Work-related ill health Focus on Personnel De- P51-53 4. What do you think of the quality of ESG information as disclosed in this report? velopment and Training Excellent Good Average Below average Focus on Personnel De- 404-1 Average hours of training per year per employee P51-53 5. What do you think of the structure of this report? velopment and Training GRI 404: Training and Education 2016 Excellent Good Average Below average 404-2 Programs for upgrading employee skills and transition assis- Focus on Personnel De- P51-53 tance programs velopment and Training 6. What do you think of the layout and presentation of this report? GRI 405: Diversity Focus on Personnel De- P51-53, and Equal Opportu- 405-1 Diversity of governance bodies and employees velopment and Training; Excellent Good Average Below average nity 2016 Sound Governance P56-57 GRI 406: Non-dis- Focus on Personnel De-406-1 Incidents of discrimination and corrective actions taken P51-53 crimination 2016 velopment and Training Open-ended question GRI 408: Child 408-1 Operations and suppliers at significant risk for incidents of Focus on Personnel De- What are your suggestions to China Life on its performance of ESG or social responsibility? P51-53 Labor 2016 child labor velopment and Training GRI 409: Forced or Focus on Personnel De- P51-53, 409-1 Operations and suppliers at significant risk for incidents of Compulsory Labor velopment and Training; forced or compulsory labor P58-60 2016 Sustainable governance Serving National Strategies; P44-46, GRI 413: Local 413-1 Operations with local community engagement, impact as-Mobilizing Public Wel-Communities 2016 sessments, and development programs P47-50 fare Efforts GRI 418: Customer 418-1 Substantiated complaints concerning breaches of customer Deepening Scientific and P31-33 Privacy 2016 privacy and losses of customer data Technological Innovation

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You may give us your feedback in the way as described below: Tel: +86-10-63631221 Fax: +86-10-66575112 Email: shenhuiying@e-chinalife.com Address: F12 Tower A, China Life Plaza, No. 16, Finance Street, Xicheng District, Beijing Zip Code: 100033