险资投A股再迎利好！千亿增量资金将至

Core Viewpoint - The recent adjustment by the Financial Regulatory Bureau to the risk factors for insurance companies' stock investments is seen as a positive signal for the capital market, encouraging long-term capital inflow and boosting market confidence [1][3]. Summary by Sections 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 [2]. - The risk factor for ordinary shares listed on the Sci-Tech Innovation Board held for over two years has been lowered from 0.4 to 0.36 [2]. - The premium risk factor for export credit insurance and overseas investment insurance has been decreased from 0.467 to 0.42, and the reserve risk factor from 0.605 to 0.545 [2]. Impact on Capital Allocation - The adjustment is expected to release approximately 1,086 billion yuan in incremental funds, enhancing the capacity for insurance companies to invest in blue-chip stocks and Sci-Tech Innovation Board stocks [3][5]. - The reduction in risk factors will lower the capital required for insurance companies to invest in these assets, thereby increasing their investment flexibility and encouraging long-term value investments [4]. Encouragement of Long-term Investment - The regulatory changes aim to guide insurance capital to participate more actively in the equity market, particularly in technology innovation sectors, which will enhance market liquidity and support stable capital market development [7]. - Specific investment directions include high-dividend assets, technology sectors aligned with national strategic investments, and broader index and industry ETF investments [7]. Policy Continuity - This adjustment is part of a series of measures aimed at promoting long-term investments by insurance funds, reinforcing their role as a stabilizing force in the capital market [8].