The 700 million shares issued online for the first time by China Taiping (601601) were listed on the Shanghai Stock Exchange today, becoming the third insurance stock in the Shanghai and Shenzhen markets. Due to the company's issuance model of A-shares followed by H-shares, there is no H-share price as a reference. However, considering the company's industry position and profitability, insiders estimate that its reasonable price in the secondary market would be around 50 yuan.