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Core Viewpoint - The recent notification from the Financial Regulatory Administration aims to ease solvency pressure on insurance companies, encouraging long-term investments and enhancing their management capabilities in asset-liability matching [1][2]. Group 1: Risk Factor Adjustments - The risk factor for stocks in the CSI 300 index and the CSI Dividend Low Volatility 100 index held for over three years has been reduced from 0.3 to 0.27, based on a weighted average holding period over the past six years [1]. - The risk factor for Sci-Tech Innovation Board stocks held for over two years has been lowered from 0.4 to 0.36, based on a weighted average holding period over the past four years [1][2]. - The risk factors for export credit insurance and overseas investment insurance have also been adjusted, with the premium risk factor decreasing from 0.467 to 0.42 and the reserve risk factor from 0.605 to 0.545 [4]. Group 2: Encouragement of Long-term Investment - The adjustments in risk factors are designed to cultivate patient capital and support technological innovation, thereby enhancing the insurance sector's capacity to invest in equities [2][3]. - The Financial Regulatory Administration has previously indicated the need to leverage insurance funds as patient and long-term capital, with measures including a 10% reduction in risk factors for stock investments to encourage greater market participation [2][3]. Group 3: Industry Response and Future Directions - The insurance industry has expressed a strong demand for optimized solvency policies, particularly in a low-interest-rate environment, to facilitate increased allocation to equity assets [3]. - Future guidance from the Financial Regulatory Administration will focus on ensuring that insurance companies adhere to the new notification requirements and improve their long-term investment management capabilities [5].