Express News | Fan Yanming, Vice President of China Life Asset Management: Insurance funds should leverage their long-term capital advantage to build capabilities in long-term value discovery and become true professional capital.

Today, at the special forum "Seeing the Future – Patient Capital and Hard Tech" during the 2026 China International Fair for Trade in Services (CIFTIS), Fan Yanming, a member of the Party Committee and Vice President of China Life Asset Management Co., Ltd., stated that insurance funds should leverage their long-term capital advantage to build capabilities in long-term value discovery and become true professional capital. Fan Yanming argued that what is most scarce in technology investment is often not capital itself, but the ability to judge future trends. So-called professional capital is reflected, on one hand, in forward-looking assessments of industry trends, which requires studying technological evolution and industrial transformation over longer time horizons. On the other hand, it is reflected in the professional valuation of technology assets. Technology companies often feature asset-light structures, high R&D intensity, and high volatility. Traditional metrics such as P/E and P/B ratios or static credit indicators are insufficient to accurately reflect enterprise value; thus, analysis must move beyond merely "reviewing financial statements" to "evaluating technology, industries, and ecosystems."

BreakingsSep 10 18:00

CNY 300 billion in special sovereign bonds enter the market: Six major banks bolster capital, but where will the CNY 2.6 trillion in credit come from?

On September 7, the Press Office of the Ministry of Finance announced that the ministry will soon issue CNY 300 billion in special sovereign bonds to support eight central financial enterprises in replenishing their Core Tier 1 capital. The list includes two state-owned large commercial banks—Industrial and Commercial Bank of China (ICBC) and Agricultural Bank of China; two policy financial institutions—The Export-Import Bank of China and China Export & Credit Insurance Corporation; and four central insurance enterprises—People’s Insurance Company of China Group, China Life Insurance (Group) Company, China Taiping Insurance Group, and China Reinsurance (Group) Corporation. The noteworthy aspect of this list lies not in the amount but in its structure: among the eight institutions, only two are state-owned large commercial banks.

businesstimes cnSep 9 08:48

Express News | According to data from the Hong Kong Exchange, BlackRock's stake in China Life Insurance H-shares decreased from 6.02% to 5.74% on September 3.

BreakingsSep 8 17:10

China's Capital Injection for State-Owned Institutions Shows Commitment to Financial System Resilience, Fitch Says

The Chinese government's proposed capital injection for several state-owned financial institutions signals a clear objective of boosting the financial system's resilience, Fitch Ratings said in a

MT NewswiresSep 8 14:37

Goldman Sachs: Central government capital injection into the insurance sector signals support; reiterates "Buy" rating on PICC (01339.HK)

Goldman Sachs issued a report noting that on the 6th, PICC Group (01339.HK) announced the issuance of new A-shares to the Ministry of Finance, raising up to RMB 15 billion. Meanwhile, China Reinsurance (1508.HK), China Life Insurance Group, China Taiping Group, and China Export & Credit Insurance Corporation also received capital injections. The five insurers are set to receive a combined maximum of RMB 70 billion in capital support from the Ministry of Finance. The bank views this capital support as a signal of the central government's backing for the insurance sector. The scope of the capital injection largely aligns with market expectations, targeting centrally administered insurance companies, similar to previous recapitalizations of state-owned banks; however, the scale is significantly lower than earlier media reports had suggested.

AASTOCKSSep 8 13:04

JPMorgan: Capital injections from the Ministry of Finance into domestic insurers pose limited dilution risk; recommends buying China Life (02628.HK) and Ping An (02318.HK) on dips.

JPMorgan noted that major state-owned insurers have announced capital replenishment plans, including capital injections of RMB 35 billion and RMB 7 billion by the Ministry of Finance into China Life Group and China Taiping Group, respectively, as well as a subscription to up to RMB 15 billion in a private placement of A-shares by PICC Group (01339.HK). The bank believes that while the news may appear surprising on the surface, the structure is more reassuring: funds are primarily injected at the parent group level, rather than requiring listed insurers such as China Life (02628.HK)(601628.SH) or China Taiping (00966.HK) to refinance in the market; potential equity financing for PICC Group

AASTOCKSSep 8 11:11