China Life shares double on debut

China's largest life insurer saw its shares more than double on their Shanghai debut yesterday, showing massive investor interest in the first insurance stock listed on the domestic market.

China Life's A shares opened at 37 yuan, 96 percent higher than their initial public offering price of 18.88 yuan, beating most analysts' expectations, which were around 30 yuan.

"We are encouraged by such a high opening price but also feel even more pressure, as we will have to strive to meet investors' expectations," Wu Yan, president of China Life, told China Daily, adding that the opening price was appropriate given the firm's potential for growth.