state administration of financial supervision: as of the end of august, the insurance industry had provided financial support of 28.8 trillion yuan to the real economy.
2024-09-28
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recently, the state council issued the "several opinions on strengthening supervision and preventing risks to promote high-quality development of the insurance industry." on september 27, the state council information office held a regular briefing on state council policies to introduce the relevant situation.
at the meeting, luo yanjun, director of the personal insurance supervision department of the state administration of financial supervision, introduced that by the end of august this year, the balance of insurance funds used was 31.8 trillion yuan, a year-on-year increase of 10.4%. the insurance industry provides financial support to the real economy through debt, equity and other means. 28.8 trillion yuan, a year-on-year increase of 12.2%.
▲the conference site
according to reports, the main work and results include three aspects.
the first is to maintain a prudent and steady industry investment philosophy and actively carry out long-term investment and value investment.insurance funds mainly come from various reserves formed from policy liabilities. in recent years, we have established and improved interest rate transmission and liability cost adjustment mechanisms, urged insurance companies to strengthen asset-liability linkage, and continue to improve cross-market and cross-cycle investment management capabilities. by the end of august, insurance funds had allocated more than 21 trillion yuan in various fixed-income assets such as bonds and bank deposits, and investment in equity assets such as stocks, securities investment funds, and unlisted corporate equities exceeded 6 trillion yuan. the overall allocation of major types of assets stable and balanced, the overall risk is controllable.
the second is to support insurance funds to serve major national strategies, key areas and key projects through various methods.the investment methods of insurance funds are relatively diverse, including bonds, stocks, securities investment funds, insurance asset management products, trust plans, unlisted enterprise equity, etc. in terms of serving major national strategies, the registered scale of insurance asset management products and insurance private equity funds to support the development of the yangtze river economic belt exceeds 1.7 trillion yuan, the scale to support the coordinated development of beijing-tianjin-hebei is nearly 750 billion yuan, and the scale to support the construction of the guangdong-hong kong-macao greater bay area the product registration scale exceeds 430 billion yuan; in terms of supporting technological innovation, insurance funds have invested more than 600 billion yuan in technology enterprises through listed company stocks, direct equity investment, venture capital funds, etc. in addition, insurance funds have continued to increase financing support for infrastructure projects such as water conservancy, water transportation, highways, and logistics, and have invested in a number of typical projects in the fields of highways, subway construction, cold chain logistics, and air transportation.
the third is to cultivate real patient capital and actively support the steady development of the capital market.in recent years, a series of regulatory policies have been issued to allow insurance funds to invest in public infrastructure securities investment funds, to cancel the industry scope of financial equity investment, to cancel the restrictions on the scale of investment in a single venture capital fund, and to support insurance companies in their role as value investors and investors. the role of institutional investors helps increase the proportion of direct financing. up to now, long-term equity investment of insurance funds has reached 2.8 trillion yuan, and investment in stocks and stock funds has exceeded 3.3 trillion yuan. in addition, with the approval of the state council, insurance institutions are encouraged to carry out long-term stock investment pilot projects through the establishment of private securities investment funds. the pilot funds are currently operating well. we will expand the scope of the pilot in the future, support other qualified insurance institutions to participate in the pilot, and continue to increase investment in the capital market.
red star news chief reporter wu yang reports from beijing
editor guo yu editor-in-chief li binbin
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