China approves 52b yuan in 2nd batch of pilot programs for long-term stock investments
BEIJING -- China's financial regulatory authority has approved the launch of the second batch of pilot programs for long-term stock investments, with a scale of 52 billion yuan. China Pacific Life Insurance Co Ltd, Taikang Life Insurance Co Ltd, Sunshine Life Insurance Co Ltd, and relevant insurance asset management firms are authorized by the National Financial Regulatory Administration to participate in the pilot through contractual funds, engaging in long-term stock investments to leverage long-term capital and patient capital, thereby supporting the stable operation of the capital market. The second batch of pilot programs for long-term stock market investment from insurance funds will be implemented in the first half of 2025, with a minimum scale of 100 billion yuan, gradually expanding thereafter, Wu added. In March 2024, China Life Insurance and Xinhua Insurance jointly launched the country's first private equity securities investment fund established by insurance companies to enter the stock market, with an investment scale of 50 billion yuan, which marks one of the first pilot projects for the long-term stock investment reform of insurance funds.
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