Chapter 1 General Provisions Article 1 In order to strengthen the management of the use of insurance funds, prevent risks, and protect the interests of the insured, these Measures are formulated in accordance with the Insurance Law of the People's Republic of China and relevant laws and regulations.

Article 2 The securities investment funds referred to in these Measures refer to securities investment funds initiated and established or regulated in accordance with the "Interim Measures for the Administration of Securities Investment Funds" (hereinafter referred to as "funds").

Article 3 The insurance companies referred to in these Measures refer to commercial insurance companies established in accordance with the law within the territory of the People's Republic of China.

Article 4 Investment funds of insurance companies shall abide by laws, regulations and these Measures, as well as relevant laws and regulations on securities business and relevant financial accounting systems.

Insurance companies investing in funds should follow the principles of safety and value-added, invest prudently, operate independently, and bear their own risks.

Article 5 The China Insurance Regulatory Commission (hereinafter referred to as the “China Insurance Regulatory Commission”) is responsible for the organization and implementation of these Measures.

Chapter 2 Qualification Conditions Article 6 An insurance company that applies to engage in investment fund business shall have a complete internal risk management and financial management system; specialized investment management personnel; and shall have a specialized fund utilization management department, audit department, and investment decision-making department.

; Necessary information management and risk analysis systems should be in place.

Article 7 Senior managers and main business personnel of investment fund business must meet the following conditions: (1) have good conduct, integrity and honesty, and have good professional ethics; (2) have not been criminally punished or related to financial or securities business

Serious administrative penalties; (3) Senior managers must have necessary financial, securities, legal and other relevant knowledge, be familiar with securities investment operations, have a bachelor's degree or above and more than 3 years of experience in securities business or more than 5 years of work experience in financial business.

Senior managers refer to the person in charge of the investment management department and above who are responsible for the investment fund business.

(4) The main business personnel should be familiar with the relevant business rules and business operating procedures, have a bachelor's degree or above, more than 2 years of work experience in securities business or more than 3 years of financial business experience, and hold a securities practitioner qualification certificate.

The main business personnel refer to the supervisory personnel and main operating personnel engaged in investment fund business.

(5) Other conditions required by the China Insurance Regulatory Commission.

Chapter 3 Application and Approval Procedures Article 8 Each insurance company shall apply to the China Insurance Regulatory Commission for the qualification to start investment fund business in accordance with these Measures.

Article 9 When an insurance company applies to open investment fund business, it shall submit the following documents to the China Insurance Regulatory Commission: (1) Application report; (2) Financial status and fund utilization report in the past three years; (3) The establishment and functions of the fund utilization department

; (4) List of senior managers and main business personnel of the investment fund business and their resumes; (5) Internal management systems related to the use of insurance funds, including the internal organizational structure, functions, job responsibilities, and work processes of the insurance company's fund use management

, authorization credit system, main risk control measures, information confidentiality system, etc.

(6) Other materials required by the China Insurance Regulatory Commission.

Article 10 The materials submitted by insurance companies to the China Insurance Regulatory Commission shall ensure that the contents are true, accurate, and complete, and contain no false statements or major omissions.

Chapter 4 Risk Control and Supervision and Management Article 11 The proportion of investment funds of insurance companies shall meet the following requirements: (1) The proportion of investment funds of insurance companies in total assets shall not exceed the proportion approved by the China Insurance Regulatory Commission; (2) The proportion of investment funds of insurance companies in

The cost price of a single fund shall not exceed 20% of the funds that an insurance company can invest in the fund; (3) the share of an insurance company investing in a single securities investment fund shall not exceed 10% of the fund's share.

Article 12 The proportion of investment funds of an insurance company shall be determined by the China Insurance Regulatory Commission on the basis of the total assets at the end of the previous year based on relevant factors such as the asset-liability ratio, asset structure and quality, capital utilization rate of return, and implementation of the internal control system of the insurance company.

Article 13: The investment fund business of an insurance company shall be conducted uniformly by the head office, and branches of insurance companies shall not buy or sell funds.

Article 14 The investment fund business of an insurance company must ensure the mutual independence of fund transactions, fund allocation, accounting and internal audit positions.

Article 15 The use of securities trading accounts by insurance companies shall comply with the Securities Law and the relevant regulations of the China Securities Regulatory Commission. All securities trading accounts and capital accounts opened must be reported to the China Insurance Regulatory Commission for filing.

Article 16 When an insurance company engages in investment fund business, it may apply to the stock exchange for special seats in accordance with relevant regulations; it may also conduct entrustment transactions at the seats of a securities business institution with securities entrustment agency qualifications.

Article 17 The entrusted securities operating institution shall be a securities operating institution with a registered capital of RMB 1 billion (inclusive) or more, a good reputation in the securities brokerage business, and standardized management.

Insurance companies that choose securities operating institutions with a registered capital of less than 1 billion yuan must obtain approval from the China Insurance Regulatory Commission.

Article 18 The original vouchers for the investment fund business of an insurance company as well as relevant business documents, information, account books, statements and other necessary materials shall be properly kept for at least 15 years.