Finance Veteran Zhao Peng Set to Become President of China Life’s Listed Unit

What’s new: Zhao Peng, a finance industry veteran who worked for China Life Insurance (Group) Co. for more than two decades is returning to the state-owned insurance giant to head its listed subsidiary China Life Insurance Co. Ltd. (601628.SH), Caixin has learned from sources with knowledge of the matter.

Zhao will be named president and Communist Party secretary of the group’s Shanghai- and Hong Kong-listed unit, succeeding 59-year-old Su Hengxuan, who is stepping down as president but will remain as a vice president of the group, the sources said.