The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← China Life

Capital · available

No free dry powder — the pile is a liability-matched, state-directed life general account. Deployable headroom is C-ROSS solvency surplus only; allocation is steered by Beijing. Cash figure not separately pulled this session.

high confidence · as of 2026-07-26 · about China Life

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