Directly hitting the press conference | CSRC's Wu Qing: Strive for large state-owned insurance funds to invest 30% of the newly added premiums each year in A-shares starting from 2025
The Chairman of the China Securities Regulatory Commission, Wu Qing, stated that major matters should not be delayed overnight, let alone over the New Year. We only strive for the present. Medium- and long-term funds are an important professional investment force in the capital market
At 9 a.m., the State Council Information Office held a press conference where Wu Qing, Chairman of the China Securities Regulatory Commission, Liao Min, Vice Minister of Finance, Li Zhong, Vice Minister of Human Resources and Social Security, Zou Lan, Member of the Party Committee of the People's Bank of China, and Xiao Yuanqi, Deputy Director of the National Financial Regulatory Administration introduced efforts to vigorously promote the entry of medium- and long-term funds into the market and to facilitate the high-quality development of the capital market, and answered questions from reporters.
Chairman Wu Qing stated at the press conference, "Major matters should not be delayed overnight, let alone for a year. We only strive for the present." Medium- and long-term funds are an important professional investment force in the capital market.
Wu Qing indicated that the "Implementation Plan for Promoting the Entry of Medium- and Long-term Funds into the Market" clearly states that the market value of publicly offered funds holding A-shares should increase by at least 10% annually over the next three years. For commercial insurance funds, efforts will be made to ensure that large state-owned insurance companies allocate 30% of their new premiums for investment in A-shares starting from 2025.
He also mentioned that the second batch of pilot projects for long-term stock investments by insurance funds will be implemented in the first half of 2025, with a funding scale of no less than 100 billion yuan.
Vice Minister of Finance Liao Min stated at the press conference that, based on the operation of funds from large state-owned commercial insurance companies in China, there is still some room to increase investment in the capital market. Efforts will be made to further promote the entry of insurance funds into the market and to revise the long-cycle assessment system for state-owned commercial insurance companies.
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