Mei Ri Jing Ji Xin Wen·2025-08-08 07:27Core Viewpoint - China Life has successfully completed the first gold inquiry transaction by a domestic insurance institution at the Shanghai Gold Exchange, marking a significant step in the implementation of insurance capital investment in gold [1][2] Group 1: Transaction Details - The transaction signifies the transition of insurance capital investment in gold from planning to reality amid increasing global economic uncertainty and geopolitical risks [1] - In February, the National Financial Regulatory Administration announced a pilot program for insurance funds to invest in gold, with China Life and nine other insurance institutions as participants [1] Group 2: Investment Implications - Gold investment will help broaden the channels for insurance fund utilization, optimize asset allocation, and enhance asset-liability management capabilities [1] - The entry of insurance capital into the gold market is expected to inject long-term funds, enhancing market depth and promoting healthy development, while also strengthening the RMB gold pricing power [1] Group 3: Preparatory Actions - China Life has undertaken substantial preparatory work, including staffing, process establishment, information system development, risk control system setup, and investment management [1] - The company is now equipped with the necessary conditions to conduct gold investment and has become one of the first members of the Shanghai Gold Exchange among the ten pilot insurance institutions [1] Group 4: Future Investment Strategy - China Life plans to adhere to a long-term investment philosophy, maintaining a prudent investment style while leveraging gold's unique value in optimizing portfolios, hedging risks, and resisting inflation [2] - The company aims to further enhance the long-term risk-return ratio of its overall investment portfolio [2]