Insurer reports strong H1 growth

China Pacific Insurance (Group) Co Ltd, one of the country's largest insurers, reported a 5.8 percent year-on-year increase in its business income to 212 billion yuan ($31.5 billion) in the first half of 2026, according to its interim report. The group's net profit attributable to its parent company increased by 10.4 percent year-on-year to 30.8 billion yuan. Due to the insurer's efforts to strengthen its sales channels and product competitiveness, the new business value of its life insurance sector climbed 12.7 percent year-on-year to 10.8 billion yuan in the first half, the interim report showed.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 29 pips to 6.7811 against the US dollar on Friday, according to the China Foreign Exchange Trade System.

XINHUA-CHINA DAILY