In the first half of 2022, China Life will continue to adhere to the political, people-oriented and professional nature of financial work, fully implement the requirements of "preventing the epidemic, stabilizing the economy, and developing security", and leverages its comprehensive financial advantages to serve the "bigger of the country". , the industry's "head goose" role has achieved new results.

Insurance helps nearly 10 million enterprises and individuals to resume normal production and life as soon as possible

  In 2022, my country's summer grain output will reach 294.8 billion catties, the early rice harvest will exceed 60%, and the autumn grain area will exceed 1.3 billion mu. The foundation for a bumper harvest is good, and China's rice bowl is solid. It has become the "ballast stone" for China's economic and social "giant ship" to move forward steadily. .

China Life leverages its professional advantages and actively participates in full cost and income insurance for the three major staple crops.

As of the end of the first half of 2022, China Life's three major staple crops, the full cost and income insurance pilot projects, have been implemented in 11 provinces, with a cumulative coverage area of ​​30.8 million mu, providing risk protection of nearly 30 billion yuan, helping to maintain the national food security bottom line.

At the same time, it matched farmers with suitable agricultural insurance products according to local conditions. In the first half of the year, it provided risk protection for 15.1 million farmers with over 600 billion yuan and paid over 2 billion yuan in indemnity. Stable production and supply.

In Shandong, a major grain-producing province, the property and casualty insurance company under China Life Group took the lead in signing the facility insurance contract for high-standard farmland construction projects in Shandong Province, and provided more than 35 million yuan of motorized wells for 53,000 mu of high-standard farmland facilities in Lanling and Qihe counties. And supporting facilities management and maintenance guarantee, to ensure the "Three Summers" production progress.

In addition, the Group's life insurance companies launched policies to benefit the people during the epidemic, such as delaying premium payments and adjusting repayment arrangements, comprehensively promoting the exclusive group insurance protection plan of "Care Insurance", expanding insurance liabilities related to infection with the new crown, and helping small, medium and micro enterprises to resume work and production. Guarantee the personal safety of enterprise employees in a specific period, and help enterprises build a risk prevention and control barrier.

  Guaranteeing the development of agriculture and the operation of enterprises is a microcosm of China Life taking advantage of the main business of finance and insurance to help stabilize the economic market.

According to the news of China Life's work conference in the first half of 2022, in the first half of this year, the company has provided a total of over 480 trillion yuan in risk protection for the economy and society. The group's life insurance business claims over 25 billion yuan and property insurance business claims over 27 billion yuan.

China Life Charity Foundation also donated 7 million yuan to Shanghai, Jilin and other regions for epidemic prevention and control, accumulatively helping nearly 10 million enterprises and individuals to resume normal production and life as soon as possible.

The stock scale of investment directly serving the real economy exceeds 3.6 trillion yuan

  Stabilizing and expanding effective investment is an important starting point for stabilizing growth and an important force for maintaining economic growth.

As of the end of the first half of 2022, China Life's stock of direct investment in serving the real economy exceeded 3.6 trillion yuan, an increase of nearly 5% from the beginning of the year, effectively giving full play to the investment benefits of insurance funds and helping to stabilize economic and social growth and investment.

Taking traditional fixed income investment as an example, the asset management companies under China Life Group invested about 114.9 billion yuan in local government bonds in the first half of the year, and almost all of the local government special bonds allocated are ultra-long-term varieties of 20 years or more. Among them, 45% of them are invested in the central and western provinces, which has effectively played a long-term stable, accurate and effective role in insurance funds.

At the same time, among the fixed-income investments of China Life Asset Management Company, about 27.1 billion yuan was newly invested in infrastructure credit bonds such as transportation and public utilities, covering nearly 80 entities in 22 provinces.

Provide timely financial support for infrastructure enterprises such as highways, urban rail transit, railways, ports, and electricity across the country.

Increase investment in green infrastructure construction, of which about 20.3 billion green bonds are used for green infrastructure investment, providing considerable impetus to economic growth.

  In terms of alternative investment, as of the end of the first half of 2022, China Life Investment Company, a subsidiary of China Life Group, has over 371 billion yuan of projects under management to serve the real economy, and has implemented a series of fruitful investment projects.

Implement projects such as Guangzhou Urban Investment Phase II, Guangxi Investment Phase II, Urumqi Urban Investment, and Yunnan Transaction Investment to provide financial support for the coordinated development of key regions.

Invest in projects such as Far East Leasing and Jinan Urban Construction, revitalize existing assets, make up for shortcomings in public services, increase investment support for the real economy, and promote “dual carbon” strategic funds to help upgrade energy consumption.

In addition, all the investments of China Life Great Health Fund are invested in the real economy. Among the projects invested, medium, small and micro enterprises account for over 50%, technology-based enterprises account for over 70%, and private enterprises account for over 90%. The fund will be in the first half of 2022 New key areas such as biomedical innovation and technology have signed contracts exceeding 1 billion yuan, effectively supporting and stabilizing the development of key industrial chains.

Bank-specific financial service solutions do everything possible to help protect market players

  Small, medium and micro enterprises have a large number and a wide range, and support a large number of employed people. In recent years, they have been greatly affected by factors such as the epidemic, and their production and operation have faced many difficulties, which is an important part of stabilizing the economic market.

Chongqing Yueda Parking Co., Ltd. is a small and micro enterprise that provides parking lot planning and design services in the circle. Affected by the epidemic, its operation has declined significantly. However, because it belongs to the asset-light service industry and lacks collateral, it has certain difficulties in bank financing.

After learning about the situation of Yueda Parking Company, Guangfa Bank, a member of China Life Group, recommended the company to apply for the GF "Tax Yintong" credit loan product.

In the end, this credit-based financial product for credit-paying small and micro enterprises provided Yueda Parking Company with 3 million yuan of credit support, helping it sign 18 new projects and expand its business scale.

In the first half of this year, China Guangfa Bank reduced or exempted a total of more than 1.5 billion yuan in service charges, and delayed the repayment of principal and interest for nearly 1,600 inclusive small and micro enterprises by about 4.3 billion yuan. The average interest rate of newly issued inclusive small and micro enterprise loans was higher than that of the previous year. The amplitude decreased by 110BP.

Customized exclusive supply chain financial service solutions for nearly 1,000 core enterprises in the industrial chain such as construction, medicine, and high-end manufacturing.

Provide featured financial support for more than 300 "specialized, specialized, and new" small and micro enterprises above the provincial level, effectively helping to protect market players and help smooth economic cycles.

At the same time, China Guangfa Bank has launched exclusive financial services for four types of typical "new citizens", including migrant workers, self-employees, graduates of secondary schools and colleges, and urban immigrant seniors.

Launched special products such as "Chain Easy Loan", "Mortgage Easy" and "Wonderful Loan" for self-employed customers; provided "Technological Innovation Huirong", "Guangshang Loan" and "Cross-border Loan" for science and technology enterprises, cross-border e-commerce and foreign trade enterprises. Special products such as “Tongtong” have given full play to the supporting role of credit funds to market players.

China Life also supports small and micro enterprises to obtain financing through small and micro enterprise loan guarantee insurance. As of the end of the first half of 2022, it has supported nearly 14,000 small and micro enterprises to obtain financing exceeding 2.6 billion yuan.

  Bai Tao, Secretary of the Party Committee and Chairman of China Life Group, emphasized at the company's work conference in the first half of 2022 that China Life should unswervingly follow the path of financial development with Chinese characteristics, strengthen its responsibility to serve the "bigger of the country", and earnestly focus on work The point and the end point are to adhere to the "insurance surname insurance" return to the source of protection, to implement the "three tasks" of financial work, and to meet the actual needs of the people.

Focus on giving full play to the role of the "head goose" in the industry, and strive to contribute to the security of the real economy and the protection of the people's better life.