China Life will pay for living expenses of all earthquake orphans

[james_bond_3rd]

In addition to paying out insurance policies. (link is in chinese)
http://news.xinhuanet.com/newscenter/2008-05/14/content_8171847.htm

Basically, they have 110,000 policies in the quake affected area. They have already received 150 claims so far and paid out 26. They will shoulder all orphans' living expenses until they are 18 years old.

That's one heck of a move.

 

[mschey]

I'm sure they were persuaded by the state that it was in their best interest to do so.

 

[jficquette]

Grow them up so they can harvest organs from them.

 

[Tums]

Quote from mschey:

I'm sure they were persuaded by the state that it was in their best interest to do so.

Don't be naive.

China Life is a public company listed in multiple exchanges, I doubt the state can tell them what to do.

Nonetheless, this move will collect more goodwill than expense.

China Life is a buy. ;-)

 

[james_bond_3rd]

mschey and jficquette, you guys are disgusting. I didn't know that some petty hatred can blind someone so much.

 

[clacy]

They must be flush with cash. That's gotta be a pretty big figure.

 

[mschey]

Quote from james_bond_3rd:

mschey and jficquette, you guys are disgusting. I didn't know that some petty hatred can blind someone so much.

It has nothing to do with hatred, in China, you are property of the state, therefore, it's the state's job to care for those orphans.

Why is an insurance company stepping up to do the states job?

 

[Tums]

Quote from clacy:

They must be flush with cash. That's gotta be a pretty big figure.

They are flush with money alright, but the living expense in China can't be that high.

<img src="http://elitetrader.com/vb/attachment.php?s=&postid=1920986">

 

[james_bond_3rd]

Quote from mschey:

It has nothing to do with hatred, in China, you are property of the state, therefore, it's the state's job to care for those orphans.

Why is an insurance company stepping up to do the states job?

You don't know China then.

In China, you have the most capitalist country in the world. You are not property of anybody or anything. You're just yourself. The government controls the media but it does not control the market or the workplace. It's been like that for at least past 20 years.

 

[mschey]

Quote from james_bond_3rd:

You don't know China then.

In China, you have the most capitalist country in the world. You are not property of anybody or anything. You're just yourself. The government controls the media but it does not control the market or the workplace. It's been like that for at least past 20 years.

Wrong answer there chief.....the state still controls everything. You have to obtain permission to travel to different towns, register locally to leave, when you arrive, and when you return.

You speak out, they send in a gang of troops to beat the hell out of you. They have invaded and conquered a foreign nation and displaced it's leadership which still remains in exile.

As one chinese guy noted in a recent interview, "you can have your own opinions, but you must still DO what the partys says!"

State owns a major stake in all business and investments made.

Outside investors can't invest in there markets, and the list goes on and on about all the different ways that china is not quite the place you dream it to be, However, I will not.