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China Insurance News Depth Report China Assets Support Real Economy and Promote High Quality Development

January 22, "China Insurance News" to "PICC assets: to support the real economy to promote high-quality development" as the title, from the insurance assets in transition under the new economic situation and better support the real economy news perspective, Depth coverage of the five major ideas of the PICC asset-backed real economy and the multiple measures to promote the company's high-quality development. China Insurance News is the only publicly-issued newspaper in China's insurance industry and a designated media authorized by the China Insurance Regulatory Commission to grant significant information disclosure rights.

PICC assets: support the real economy and promote high quality development

China Insurance Daily reporter: Feng Nana

In the early 2018, the reporter of "China Insurance Daily" interviewed the person in charge of PICC Asset on this topic in the light of how the insurance fund can achieve higher quality development under the current new economic situation and how to better support the development of the real economy.

New Opportunities and New Challenges Facing Insurance Capital

In the opinion of the person-in-charge of PICC Asset Protection, the Central Economic Work Conference is the implementation and implementation of the 19th Plenum of the Party in the economic field and will continue to make new progress in our economy on a high-quality basis. It will also have a profound impact on China's economic development and transformation influences. The Central Economic Work Conference has made it clear that our country's economic development has entered a new era. Under the new economic situation, the CPA assets should actively grasp the changes in the major social conflicts, pay more attention to the quality of economic development, pay more attention to the effectiveness of financial services in the real economy, and pay more attention to the role of insurance funds in serving the construction of a modern economic system.

As the insurance industry accelerates its return to security orientation and the scale of the third-party asset management business such as de-channeling and de-leveraging, the insurance asset management industry faces the pressure of declining funding sources in the near term and asset allocation caused by economic growth shift The dilemma and the pressure on the liquidity of insurance funds through the transformation of product mix in the industry will also pose greater challenges to the investment returns of insurance funds. The person in charge of PICC said: "The challenges are still there. The opportunities are still vast." This is reflected in the fact that insurance funds have relatively large scale, cost advantages and strong ability of risk identification, and have obvious competitive advantages over other asset management industries in the strict regulatory cycle. With the insurance industry deeply involved in the construction of social security and governance systems, insurance The size of asset management institutions in the management of pensions and corporate annuities will increase substantially. The development speed of insurance funds in mezzanine funds, M & A funds, real estate funds and private equity equities will continue to accelerate and the scale and quality of overseas investment are expected to continue to increase. Investment in such areas as loans, commodities and long-term rental apartments is also expected to make breakthroughs. Innovation in Insurance Funds in Areas of "One Belt, One Road", Healthy and Old-Age Industries, "Supporting Agriculture, Small Towns," Will Provide New Opportunities for the Use of Insurance Funds .

Five major ideas to support the real economy

Looking back to 2017, a large amount of work has been undertaken by PICC assets in support of the real economy. From the traditional perspective, in 2017, PICC's assets of over 300 billion yuan will be invested in bonds, financial bonds and corporate bonds (corporate bonds) that are in line with the structural reform of the supply-side reform and national industrial policies. The means of financing provided long-term and steady development funds for outstanding real economy enterprises. From the point of view of alternative investment, PICC Asset Management Co., Ltd. issued a total of nearly 100 billion yuan of registered alternative investment products through the issuance and establishment of various types of infrastructure debt plans, real estate investment plans and equity investment plans. By subscribing to alternative investment products of other entities, More than 100 billion yuan was provided to the real economy projects.

PICC Asset Support The real economy can be summed up as "Five Ways of Thinking," including the participation of insurance funds in deepening supply-side structural reforms; participating in major national strategies, major projects and key regions; participating in the construction of an innovative national strategy; participating in promoting the implementation of inclusive financial , Green finance, supporting small-scale businesses in agriculture and poverty alleviation work as well as grasping the opportunities for extending and perfecting the insurance industry chain.

Specifically, starting from deepening the structural reforms on the supply side, PICC focuses on developing advanced manufacturing industries, supporting the optimization and upgrading of traditional industries and cultivating modern service industries to tap investment opportunities; giving full play to the advantages of large-scale insurance funds, long term and stable sources , Insurance funds can take an active part in the construction of major national strategies, major projects and key areas in the country's "Belt and Road" construction, the coordinated development of Beijing-Tianjin-Hebei and the construction of the Xiong'an New Area; proceed from accelerating the construction of an innovative national strategy to promote industrial technological innovation, We should actively explore the ways of combining insurance funds with other aspects such as strengthening military and civilian integration and nurturing and strengthening innovation entities. We should give full play to the inherent advantages of insurance in safeguarding and improving people's livelihood, promote the business model of "insurance protection + insurance funds utilization", focus on the implementation of inclusive financial, Green finance, support for small-scale businesses and targeted poverty alleviation work, and make contributions to the strategy of rural rejuvenation. From the perspective of extending and improving the insurance industry chain, we will capitalize on investment opportunities in such fields as automobile, health care, health China, and beautiful China artificial intelligence, Service insurance main business, Strong core insurance business.

PICC's assets focused on measures taken by insurance funds to promote precision out of poverty. With the introduction of the relevant person in charge of PICC Asset Protection, focusing on the product model innovation, the Bank continued to strengthen its industrial development characterized by "Pratt & Whitney Finance, supporting small and medium-sized industries in alleviating poverty", and focused on the implementation of PICC's pilot program of 25 billion yuan Quota, focus on key areas, take the initiative to explore innovative poverty alleviation model. At present, on the basis of exploring the direct financing model of insurance funds, PICC Asset further explores the indirect financing model of insurance funds and has developed and set up the "PICC Asset-PEF Financial Asset-only Asset Management Products" To provide financing for industrial poverty alleviation to PICs, poverty alleviation targets, agricultural cooperatives or agricultural production and operation enterprises in PICC P & C and make efforts to increase the supply of poverty alleviation from the supply end and coordinate with PICC to jointly promote agriculture support across the country Financing business. PICC also actively promotes small-and-medium-sized enterprises supporting agriculture through small-scale poverty alleviation and equity investment projects. By providing equity financing support to the leading enterprises in the target area, taking industries as the starting point and enterprises as the mainstay, the development of small and micro enterprises and rural construction And peasants to provide financing support to lift poverty out of poverty. In 2017, it set up the "PICC Asset-Backed-equity Investment Plan for Agricultural Microfinance Companies" and is currently promoting the plan of "investing in science and technology sector with small investment and financing of Qinghai Province" and " Small-Sized Investment Plan. "

Many measures to achieve high quality development

At present, PICC assets management scale nearly trillion yuan. The person in charge of PICC said that under the current new economic situation, the company should make every effort to implement the new development concept and promote all kinds of business to achieve higher quality development.

The implementation of PICC's assets will continue to follow the principle of "implementing various development strategies proposed by the Central Government, the state and the Group, enhancing the return on investment in entrusted assets, facilitating the control of risks and maintaining the flexibility of asset allocation, and the business Management of the soundness of "principle, promote the progress of all things. The specific idea is: First of all, a balanced development of political construction and business operations should be realized; the awareness of risk prevention and compliance with laws and regulations in the new situation should be strengthened; prevention and control risks should be placed in a more important position and the bottom line of systemic risk should be maintained; On the basis of the principle of "excellent major industry" and "fine professionalism", the Bank focused on strengthening professional capabilities, deepening the matching management of assets and liabilities, further promoting the research on major asset categories and focusing on the improvement of professional capabilities in various specialized fields. While ensuring that investment income from insurance funds met the entrusted Under the premise of the cost of liabilities, the Bank will broaden the breadth and depth of support for the real economy, implement the strategy of innovation-driven development, vigorously strengthen technological innovation and strengthen the application of financial technologies such as Internet +, Big Data and Artificial Intelligence in the business areas of the Company.

In addition, PICC assets also revealed that PICC assets will actively promote the process of group integration and exert the advantages of internal integration in innovation of investment and financing business, public offering fund business exhibition development and domestic and overseas business integration and development; Public fund platform to further promote the strategic layout in the field of private equity investment in public emerging markets such as raised funds and private equity funds and other new business areas to explore and build a new growth point; focus on building PICC's investment in the field of international platform to further enhance the coverage of the global market , Across multiple types of assets investment ability; On this basis, actively promote the development of the company's market-oriented level to a new level.

http://www.picc.com/html1/report/18022/1-1.htm