promoting the economy towards "new" and insurance funds step up efforts to support the capital market
2024-09-25
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original title: promoting the economy towards "new" and insurance funds step up efforts to support the capital market
people's daily, beijing, september 25 (reporter du yanfei) "the capital market undoubtedly plays an important role in financial stability and economic development. the financial regulatory administration has always attached great importance to the capital market and actively guided banks, insurance and asset management institutions to maintain the stability of the capital market." li yunze, director of the financial regulatory administration, said at a press conference held by the state information office on the 24th that insurance funds are large in scale, long in term, and stable in source. they naturally have the attributes of patient capital and will surely become value investors who support the healthy and sustainable development of the capital market.
previously, with the approval of the state council, the financial regulatory bureau promoted china life and new china life to carry out a pilot project to jointly establish a private securities investment fund to raise insurance funds for investment in the capital market. the fund has a registered capital of 50 billion yuan and has officially started investment operations, which are currently progressing smoothly.
the "several opinions on strengthening supervision, preventing risks and promoting high-quality development of the insurance industry" (hereinafter referred to as the "opinions") recently issued by the state council clearly stated that the long-term investment advantages of insurance funds should be brought into play. real patient capital should be cultivated to promote a virtuous cycle of funds, capital and assets. investment in strategic emerging industries, advanced manufacturing, new infrastructure and other fields should be increased to serve the development of new quality productivity. insurance funds should be guided to provide support for scientific and technological innovation, venture capital, rural revitalization, and the development of green and low-carbon industries.
industry insiders said that insurance funds are large in scale, long in duration, and stable in source, and naturally have the attributes of patient capital, and will surely become an important value investor in supporting the healthy and sustainable development of the capital market. at the same time, the long-term characteristics of insurance funds can also effectively fill the financing gap in the early stages of the development of technological innovation companies, accompany the growth of technological innovation companies, and accelerate the cultivation and expansion of new quality productivity. this not only meets the needs of national development, but also provides a broader development space for the insurance industry.
the reporter sorted out that at present, the financial regulatory authorities have issued a number of policies to guide insurance funds to make long-term investments and support technological innovation and industrial upgrading, including adjusting the solvency supervision standards, allowing insurance funds to invest in equity investment funds actually invested by non-insurance financial institutions, etc., to remove relevant restrictions on investing in science and technology enterprises.
"the investment operation of medium- and long-term funds is highly professional and stable, which is of great significance for overcoming short-term market fluctuations and playing the role of 'stabilizer' and 'ballast' of the capital market." wu qing, chairman of the china securities regulatory commission, said at the above-mentioned state information office press conference that at present, the total amount of medium- and long-term funds in the capital market is insufficient, the structure is not good, and the leading role is not fully played. problems are still relatively prominent, and the institutional environment for "long-term money and long-term investment" has not yet been fully formed.
li yunze said that in the next step, the financial regulatory bureau will continue to support the sustained and steady development of the capital market. it will expand the pilot reform of long-term investment of insurance funds, support other qualified insurance institutions to establish private securities investment funds, and further increase investment in the capital market. it will urge and guide insurance companies to optimize the assessment mechanism, encourage and guide insurance funds to carry out long-term equity investment. it will encourage financial management companies and trust companies to strengthen equity investment capacity building, issue more long-term equity products, actively participate in the capital market, and cultivate and expand patient capital through multiple channels.
"we need to improve the institutional environment for 'long-term investment'. the focus is to improve the regulatory inclusiveness of medium- and long-term equity investment, and fully implement long-term assessments of more than three years. we need to remove the institutional barriers that affect long-term investment of insurance funds, promote insurance institutions to become firm value investors, and provide stable long-term investment for the capital market." wu qing said.
industry insiders said that the further increase in insurance funds' investment in the capital market means that the participation of insurance funds in the capital market will increase, which will increase the investment options of insurance funds, improve the asset allocation efficiency of insurance funds, and help the real economy grow steadily.
source: people's daily online
