As the main platform for the use of insurance funds of the whole group, Chinese Life Asset Company has continuously deepened its practice in the field of science and technology finance by actively connecting with the government, central enterprises and local leading enterprises, and a number of high-quality investment projects have emerged.
As of the end of the first quarter of 2024, the scale of funds in the company's entrusted system to support the development of the modern industrial system reached 1.66 trillion yuan. Among them, 203.4 billion yuan will be supported for the development of strategic emerging industries, 87.9 billion yuan for advanced manufacturing, 394.8 billion yuan for green investment, and 382.5 billion yuan for "two new and one heavy".
In terms of supporting strategic emerging industries
In 2022, the "Chinese Life-Electronic Mixed Reform No. 1 Equity Investment Plan" will be established, and China Electronics Co., Ltd. will increase its capital by 1.99 billion yuan to help the construction of the PKS system of the core pillars of information innovation such as domestic CPUs and domestic operating systems, and accelerate the breakthrough of key core technologies in the field of network information.
From 2022 to 2023, we will initiate the establishment of a debt investment plan with a total scale of 6 billion yuan to tackle the "bottleneck" problem in the field of integrated circuit chips.
In 2023, the "Chinese Life-Hufa No. 1 Equity Investment Plan" will be established to acquire the equity of Shanghai Integrated Circuit Industry Investment Fund Co., Ltd. held by Shanghai state-owned enterprises in the form of S-share investment, with an investment scale of about 11.8 billion yuan, to help the development of the integrated circuit industry in mainland China and support the construction of Shanghai International Science and Technology Innovation Center.
In terms of supporting advanced manufacturing
Jointly set up the Ordnance Group Fund with China North Industries Group and China Insurance Investment Corporation, and Chinese Life invested 5.486 billion yuan to support the development of Ordnance Industry Group and its core subsidiaries; set up an asset-backed special plan to invest a total of 428 million yuan in Sany Heavy Industry and XCMG Group to promote the localization of high-end equipment manufacturing industry.
In terms of supporting green investments
From 2021 to 2022, it initiated the establishment of 3 equity investment plans with a total scale of 7.796 billion yuan, and strategically increased the capital of's subsidiaries to help the development and construction of photovoltaic and new energy power generation projects.
Invested in 6 private equity funds in the field of clean energy, with a total scale of 34.309 billion yuan, to support the construction of clean energy projects under the State Power Investment Group, Huaneng Group and CRRC Group.
In the next step, Chinese Life will continue to explore investment practices in the field of science and technology finance, effectively play the leading role of the industry's "head goose", continue to innovate investment methods and risk management methods, accelerate the construction of a science and technology financial ecology rich in China Life's characteristics, promote the virtuous cycle and effective interaction of finance, science and technology and industry, and help build a financial power and a science and technology power.