China Banking and Insurance Regulatory Commission: Accumulative investment of insurance funds in the field of infrastructure is 3.31 trillion yuan
China News Service, Beijing, November 17 (Reporter Wang Enbo) The China Banking and Insurance Regulatory Commission revealed on the 17th that as of the end of September, insurance funds had accumulated investment in transportation, energy, water conservancy, and shantytown renovation through products such as debt investment plans and equity investment plans. The facility area is 3.31 trillion yuan, providing financing support for projects under construction and major projects that make up for shortcomings.
The China Banking and Insurance Regulatory Commission announced on the same day the "Notice on Issues Concerning the Public Offering of Infrastructure Securities Investment Funds for Investment in Insurance Funds" to further enrich the insurance asset allocation structure, help revitalize the existing infrastructure assets, and increase the proportion of direct financing.
According to the department, insurance funds have the characteristics of long term, large scale, and stable sources, which naturally meet the financing needs of infrastructure projects.
Infrastructure funds take infrastructure projects as the underlying assets. The project has a long operating cycle and compulsory dividends, which can better match the long-term allocation of insurance funds and provide new investment tools for insurance funds to participate in infrastructure construction.
According to reports, the formulation of the "Notice" is based on three principles: adhere to the direction of market-oriented reforms, timely include fund products with risk-return characteristics that meet the needs of insurance funds into the investment scope, diversify investment risks, and help revitalize existing infrastructure assets; The concept of penetrating supervision, infrastructure funds possess both open market equity products and real estate asset attributes, and insist on penetrating supervision in accordance with the essence of the business; adhere to the principle of prudent start, to participate in the investment of infrastructure funds by insurance institutions, in terms of investment capabilities, regulatory ratings, etc. In this regard, certain conditions shall be set to guide insurance institutions to carry out rational investment and long-term investment.
The "Notice" puts forward a number of requirements for relevant business development.
For example, for infrastructure funds invested by insurance funds, the relevant managers shall comply with the regulatory requirements on the investment of insurance funds in real estate financial products; insurance institutions shall conduct a comprehensive analysis and evaluation of the investment in infrastructure fund holding projects, and penetrate them into real estate asset investment Proportion, regular assessment of investment risks, etc.
The China Banking and Insurance Regulatory Commission stated that the next step will continue to deepen the structural reform of the financial supply side, guide insurance funds to give full play to the advantages of long-term funds, and increase investment in infrastructure and major people’s livelihood projects through debt, equity, stock and debt combinations, funds, etc. Efforts to serve the high-quality development of the economy.
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