On March 28th, Premier Wen presided over a meeting, approved the implementation of the overall plan of the comprehensive financial reform pilot zone in Wenzhou, Zhejiang Province, and proposed that "through institutional innovation, a diversified financial system matched with economic and social development will be built, the level of financial services will be significantly improved, the ability to prevent and resolve financial risks will be significantly enhanced, and the financial environment will be significantly optimized, providing experience for the national financial reform".
On April 26th, Xiang Junbo led a team to Wenzhou for field investigation. Xiang Junbo said that the policies and new measures for the use of insurance funds can be tried first in the experimental zone for comprehensive financial reform in Wenzhou, with emphasis on supporting policies for insurance funds to invest in infrastructure construction projects in Wenzhou, participate in industrial investment funds in Wenzhou, and participate in affordable housing, pension industry and medical industry in Wenzhou.
Following the promulgation of the Interim Measures for the Investment of Insurance Funds in Bonds on July 19 and the Interim Measures for the Administration of Entrusted Investment of Insurance Funds on July 23rd, the CIRC issued the Notice on Issues Related to the Investment of Insurance Funds in Equity and Real Estate and the Interim Measures for the Administration of Insurance Asset Allocation at the end of July.
From October 22nd, 65438/KLOC-0, the CIRC issued six investment policies for two consecutive days-the Interim Provisions on the Management of Infrastructure Creditor's Rights Investment Plan, the Detailed Rules for the Implementation of the Interim Measures for the Management of Overseas Investment of Insurance Funds, the Notice of Insurance Asset Management Companies on Relevant Matters, the Notice of Insurance Funds Investing in Financial Products, the Provisions on Insurance Funds Participating in Stock Index Futures Trading and the Interim Measures for Insurance Funds Participating in Financial Derivatives Trading. At this point, the insurance investment policy "13" has been issued 10, and the use of insurance funds has further promoted market-oriented reform.
Since 20 12, under the background of financial reform, the insurance industry has further deepened the market-oriented reform process of insurance fund utilization. On the premise of effectively preventing risks, the control is relaxed, the scope is broadened and the audit procedure is simplified. At the same time, insurance companies are required to make independent decisions, invest independently and take risks independently.
Xiang Junbo, chairman of the China Insurance Regulatory Commission, said during a field survey in Wenzhou that the new policies and measures for the use of insurance funds can be tried first in the experimental zone of comprehensive financial reform in Wenzhou. Immediately, the CIRC issued a document to refine and relax the scope of use of insurance funds. Among them, the widening of the issuance mode of unsecured corporate bonds has brought more unsecured corporate bonds into the scope of investment, which reflects the policy orientation of the China Insurance Regulatory Commission to deregulate, broaden the scope and simplify the audit procedures.
The financial reform in Wenzhou and Shenzhen and the liberalization of unsecured debt for insurance investment have announced that the prelude of "reform and innovation" has been gradually opened. The introduction of 10 insurance investment policy not only lowered the investment threshold of insurance funds, expanded the investment scope, increased the investment proportion, increased the initiative and flexibility of insurance asset allocation, and broke down the industry barriers, making insurance enterprises compete with banks, brokers, trusts and other financial institutions on the same stage.
In the current situation of low economic growth, it is of great significance to mobilize funds from all aspects of the insurance industry to support the overall economic development. The expansion of insurance investment channels will also help insurance companies to better control investment risks and strive for more valuable investments, especially for the stability of long-term investment of life insurance companies. At the same time, insurance companies should also realize that the goal of investing in insurance policies is not only to improve the profitability of insurance funds, but more importantly, to strengthen risk management and control capabilities.