China Insurance Regulatory Commission: Insurance companies banned pension real estate construction of commercial housing

Following the relaxation of investment bond market and stock market restrictions, the China Insurance Regulatory Commission issued a notice again yesterday. The threshold for investing in equity and immovable property in insurance assets has been moderately reduced, and the scope of investment has been expanded. At the same time, restrictions have been imposed on insurance companies investing in old-age real estate. .

In order to further standardize the investment of insurance funds in investing in equity and real estate, and enhance the feasibility and effectiveness of investment policies, the China Insurance Regulatory Commission recently issued the “Notice on issues relating to the investment of insurance funds to invest in equity and real estate” (abbreviated as “Notice”). The "Notice" stipulates that insurance companies investing in equity or real estate will no longer implement the provisions for profitability in the previous year; in addition, the basic requirements for net assets in the previous year shall all be adjusted to 100 million yuan***.

In terms of investment scope, the “Notice” stipulates that insurance funds directly invest in the scope of equity, increase the equity of energy companies, resource companies, and modern agricultural enterprises and new-type commercial circulation enterprises related to the insurance business, and the target companies that the equity targets should comply with National macro policies and industrial policies.

With regard to real estate investment, the "Notice" has improved the calculation method for the proportion of investment in infrastructure and real estate financial products, allowing insurance funds to adopt multiple investment methods to support the country's major people's livelihood and development projects. However, it is worth noting that in order to restrict insurance companies from building and selling commercial housing under the guise of “retirement real estate”, the “Notice” specifies that insurance companies invest in real estate projects and must not use investment in real estate for the purpose of using real estate in the name of self-use real estate, and disguisedly participate in the first class. land development.