A new landmark building designed as a financial center for China Life Insurance (Group) Co is located at the core area of Shanghai's Lujiazui financial district. [Photo/sohu.com]

China Life Insurance (Group) Co marked the completion of a new finance center in Shanghai's Lujiazui on Dec 29, a landmark skyscraper located in the core area of the financial district.

The new building is designed by Kohn Pedersen Fox Associates (KPF), a noted architecture firm headquartered in New York, US. With a design inspired by bamboo, the center is seeking to help grow businesses.

Covering a total floor area of 108,000 square meters, the 52-story building integrates office space, a dining hall for employees, and a 60,000-sq-m shopping center with restaurants, fashion stores, gyms, and entertainment facilities.

The project, a joint effort of China Life and CITIC Group, started in October 2012 and took four years to complete. After its completion, the building will become home to Shanghai-based branches of China Life, such as Shanghai Life Insurance Co, Shanghai Life Property & Casualty Insurance Co, and China Guangfa Bank, providing clients with convenient and easier access to financial services including insurance, banking, and investment.

Yang Mingsheng, chairman of China Life, said at the inauguration ceremony of the new building that it represents a win-win strategy for China Life and CITIC Group and that he expected further cooperation between the two sides.

At the ceremony, China Life Investment Holding Co and CITIC Pacific (China) Investment Co also struck a cooperation deal to promote the integration of finance and property business.