China Life Insurance, China’s biggest life insurer, is committing billions of yuan to funds focused on artificial intelligence, semiconductor development and related strategic industries. In an announcement on Sept. 24, the company said it plans to jointly establish an equity investment fund with related parties and other investors, targeting the hard technology sector. Its latest investment of up to 4.5 billion yuan, or roughly $620 million, comes as Beijing pushes to reduce the country’s dependence on foreign chip technology. By the end of 2025, China Life’s investments in sectors it classifies as tech self-reliance had exceeded RMB 510 billion, including an RMB 11.8 billion stake in a Shanghai integrated circuit fund launched in 2023. The insurer committed RMB 4 billion in January 2026 to a RMB 5.0515 billion partnership focused on AI, integrated circuits and biomedicine. Managed by China Life Capital, that fund must direct at least 70% of its capital toward AI applications, particularly autonomous driving and embodied intelligence, which enables robots and other physical systems to perceive and interact with the real world. In July 2026, China Life also committed nearly RMB 5 billion to an eight-year semiconductor equity investment partnership targeting companies with deep expertise in chip design and related services. The vehicles cover intelligent chips, AI infrastructure, integrated circuits and biomedicine, with China Life taking minority positions rather than seeking control. Insurers can deploy long-duration capital because premiums are collected years before claims are paid. With Chinese property markets recovering and bond yields compressed, investments in growth sectors have become more attractive, while Beijing has encouraged institutional investors to provide patient capital for technology development. China Life reported August 2026 revenue of RMB 434.3 billion, up 81.5% year on year, and net profit of RMB 134.5 billion, up 228%. The investments also align with a broader domestic mobilization of capital after the US and its allies tightened export controls on advanced semiconductor equipment and chips for China. Government-backed Big Fund vehicles have already deployed hundreds of billions of yuan in the sector. The eight-year fund term reflects the long development cycles for competitive processors and the manufacturing capacity needed to produce them.