IN BRIEF (Page 10)

China Life invests

China Life Insurance Co, the nation's biggest insurer, said it will spend 8 billion yuan to buy bonds for an infrastructure project in Tianjin municipality. The company will make the investment through its asset-management arm, China Life said in a statement to the Shanghai Stock Exchange. The bonds have a duration of 12 years with an annual management fee of 0.15 percent, according to the statement.

Minmetals buys stake

China Minmetals Corp, the nation's biggest metals trader, may buy a 40 percent stake in the parent of Hunan Nonferrous Metals Corp to step up minerals exploration in China and abroad amid industry consolidation. Beijing-based Minmetals signed an initial agreement for strategic cooperation on Sept 1, the listed arm of Hunan Nonferrous Metals Group said in a statement.

Vanke rejects requests

China Vanke Co, the mainland's largest publicly traded real estate developer, said it has rejected requests from buyers for compensation on homes bought before the company cut prices to boost sales. Some customers demanded compensation and wanted to return their apartments after the company introduced a promotion "recently" in Shanghai, during which it sold 360 units worth 616 million yuan, Vanke said in a statement on Friday. The Shanghai Morning Post had reported Vanke may compensate the buyers, according to the statement.

Agencies

(China Daily 09/13/2008 page10)