Jin Rong Shi Bao·2025-08-08 07:25Core Viewpoint - The China Insurance Regulatory Commission has approved Xinhua Insurance's participation in the third batch of long-term investment reform pilot programs, with plans to establish the Honghu Fund Phase III in collaboration with China Life and other institutions [1] Group 1: Honghu Fund Initiatives - Honghu Fund Phase I was established with a total capital of 50 billion yuan, contributed equally by China Life and Xinhua Insurance, focusing on key industries related to national economy and people's livelihood [2] - Honghu Fund Phase II involves a total investment of 20 billion yuan, with both Xinhua Insurance and China Life contributing 10 billion yuan each, targeting large listed companies that meet specific governance and operational criteria [3] - The third phase of the Honghu Fund will continue to adhere to principles of marketization, rule of law, and long-term investment, focusing on stable dividend returns from blue-chip stocks [1][3] Group 2: Investment Strategy and Market Impact - The insurance capital market is expanding, with regulatory bodies emphasizing the need for increased long-term investments to inject more capital into the market [4] - Xinhua Insurance aims to enhance its investment management through strategic and tactical asset allocation, focusing on long-term growth and diversification to benefit from China's economic growth [5] - The ongoing operation of the Honghu Fund and the influx of more medium- to long-term capital are expected to support the capital market's transition to a new phase of high-quality development [5]