BNP ANALYSTS UP PROFIT FORECAST FOR CHINA LIFE - REPORT

China Life’s confirmation that it has cut its equity investments in a bid to shore up its financial position has prompted BNP Paribas analysts to up their target price for the insurer. The analysts lifted the price target to HK$20.25 from HK$20.12 and kept their "underweight" on China Life, according to Xinhua news agency. BNP’s analysts are now forecasting full-year profit for China Life in 2008 of Yuan12.6bn, down 46% compared with last year. Their new prediction is up from the earlier Yuan4bn, and reflects the revamped investment policy.