GENERAL Electronic Co and China Life Insurance Group signed a memorandum of understanding in Shanghai this morning, unveiling a strategic partnership between the two giants.

The duo pledged to launch new financial products in the market while GE will help China Life, the biggest insurer on the mainland, to seek "investment opportunities in China," officials said during a meeting at the Grand Hyatt Jinmao.

GE will also help China Life to expand its overseas market.

The two parties will set up a taskforce to overlook the cooperation that will include Wan Feng, deputy general manager and chief information officer at China Life.