On November 24th, CCTV News reported that insurance funds are an important long-term funding provider in China's financial market. The China Insurance Asset Management Association (hereinafter referred to as the "Insurance Asset Management Association") stated on the 23rd that under policy guidance, insurance funds will increase long-term investment in areas such as technological innovation, advanced manufacturing, and green development.

Recently, the Ministry of Finance and the State Administration of Financial Supervision have successively introduced policies to strengthen the long-term assessment of state-owned commercial insurance companies, guiding insurance funds to better play the role of market stabilizer and economic development booster for medium and long-term funds. The Insurance Asset Management Association believes that in the future, insurance funds will pay more attention to long-term investment in the real economy.

Wang Junhui, President of the Insurance Asset Management Association, stated that holding long-term funds is an advantage of the insurance asset management industry compared to other industries. Insurance asset management institutions should guide more funds to flow into fields such as technological innovation, advanced manufacturing, green development, inclusive finance, etc., to achieve a virtuous cycle of long-term fund preservation and appreciation and promote real economic growth.

The latest data shows that at the end of the third quarter of this year, the total assets of insurance companies in China reached 29.6 trillion yuan, a year-on-year increase of 10.8%. The balance of insurance fund utilization was 27.5 trillion yuan, a year-on-year increase of 10.9%. Insurance asset management institutions have become one of the largest institutional investors in China's bond market and stock market.