Core Viewpoint - The article emphasizes the importance of long-term assessment mechanisms for state-owned commercial insurance companies to enhance their investment management capabilities and stabilize capital market operations [1][2][4]. Group 1: Long-term Assessment Mechanism - The Ministry of Finance's notification establishes a three-year long-term assessment mechanism for state-owned commercial insurance companies, focusing on improving asset-liability management and investment management capabilities [1][2]. - The assessment will now include a five-year performance indicator alongside annual and three-year indicators, with respective weights of 30%, 50%, and 20%, promoting a focus on long-term returns and reducing the impact of short-term market fluctuations [2][4]. - The new assessment criteria will be implemented starting from the 2025 performance evaluation, aiming to guide insurance companies towards long-term, value-based, and stable investments [2][3]. Group 2: Enhancing Management Capabilities - The notification requires insurance companies to improve their asset-liability management by optimizing the matching of cash flows, cost returns, and risk balance, ensuring stable growth of owners' equity [3]. - It also emphasizes the need for robust internal assessment mechanisms and investment management systems to identify quality investment opportunities and enhance long-term stable returns [3][4]. - The introduction of long-term assessment mechanisms is expected to alleviate short-term performance pressures, allowing insurance funds to increase their equity market investments and maintain stability [3][4]. Group 3: Market Impact and Investment Potential - As of the end of 2024, the total investment balance of commercial insurance funds in China is projected to reach approximately 33 trillion yuan, with about 11% allocated to A-shares, indicating significant room for growth in equity investments [6]. - The implementation of the long-term assessment mechanism is anticipated to enhance the willingness of insurance funds to enter the market, thereby improving market stability and reducing volatility [4][6]. - The article highlights that the shift towards long-term investment strategies aligns with the increasing quality of A-share companies and their dividend rates, creating a favorable environment for insurance funds to invest [9].
刚刚!财政部,最新发布,事关长期资金入市!