其中，华泰资产管理有限公司荣获"金牛保险资管公司奖"；华泰资产旗下产品"华泰资产稳利二号资产 管理产品"荣获"五年期组合类保险资管产品奖（固收类）"，"华泰资产-价值严选资产管理产品"荣获"一 年期组合类保险资管产品奖（权益类）"。 保险业投资金牛奖设立于2021年，旨在展示行业内优秀的保险机构和资管产品，促进行业健康、可持 续、高质量发展。自该奖项设立以来，华泰资产已连续五年榜上有名，累计斩获11座金牛奖奖杯。 第三方业务占比领跑行业 在大资管时代下，保险资管行业是不可忽视的力量。作为脱胎于保险公司的专业资产管理机构，保险资 管公司经过多年发展，在服务保险主业、稳定资本市场、服务实体经济等方面扮演着日益重要的角色。 目前，国内已开业的保险资管公司达35家，行业整体管理规模持续增长。 9月28日，由中国证券报主办的"长钱 长投 长青"2025保险业、信托业高质量发展大会在北京举办。会 上，第五届保险业投资金牛奖获奖名单正式揭晓。 其中，作为国内首批设立的保险资管公司之一，华泰资产的成长历程与行业发展同频共振。华泰资产于 2005年1月成立，其前身为华泰财险投资部，经过二十年的发展与积淀，已从最初单一的保险资金 ...

与会嘉宾认为，当前资本市场环境发生了一些积极变化，险资机构的信心在增强。 "自去年9月以来，市场环境发生了很多变化，最重要的变化是信心在修复。"中意资产总经理贡磊表 示，最为直观的体现就是今年以来资本市场的表现。在经济增速放缓、央行维持支持性货币政策的情况 下，债券利率出现较大幅度上行，股票市场大幅上涨。 贡磊认为，宏观经济与资本市场的走势体现出基本面的变化：一是以人工智能为核心的科技产业进入发 展快车道；二是以"反内卷"为代表的改革预期增强，预计"十五五"期间将是我国改革推进最为密集的阶 段；三是出口的韧性增强，体现的是全球经济不确定性下中国经济的确定性。 "在保险机构的大类资产配置方面，保险机构的风险偏好在提升。"贡磊说。 9月28日，由中国证券报主办的"长钱 长投 长青"2025保险业、信托业高质量发展大会在北京举行。在 以"低利率之下保险机构金融资产配置的变与不变"为主题的圆桌论坛上，与会嘉宾就利率中枢下行环境 下资管机构面临的资产配置的新挑战进行了讨论。 面对新环境新形势，与会嘉宾认为，作为市场上重要的长期资金，保险资金需在坚守长期投资、绝对收 益理念的同时，积极优化资产配置结构，拓展投资能力边界， ...

Core Viewpoint - The conference highlighted the need for insurance institutions to adapt their asset allocation strategies in a low interest rate environment while maintaining a long-term investment approach to support the high-quality development of the real economy [1][3]. Group 1: Market Environment and Confidence - Insurance institutions are experiencing increased confidence due to positive changes in the capital market since September of last year, with notable improvements in market performance despite economic slowdowns [4]. - Key factors contributing to this confidence include the rapid development of technology industries driven by artificial intelligence, expectations of intensified reforms during the 14th Five-Year Plan, and the resilience of exports amid global economic uncertainties [4]. Group 2: Asset Allocation Strategies - The risk appetite of insurance institutions is rising, necessitating adjustments in asset allocation strategies to align with the current market environment [5][6]. - The allocation structure is shifting towards a more diversified approach, with an emphasis on both fixed income and equity assets, while maintaining a cautious stance on fixed income investments [7]. - Insurance funds have increased their equity investments, with over 8% of investments in stocks this year, reflecting a significant rise from the beginning of the year [7]. Group 3: Alternative Investments and Long-term Strategies - There is a growing focus on diversifying income sources through alternative investments to extend duration, smooth volatility, and enhance yield flexibility [8]. - The appeal of REITs is highlighted as they offer predictable cash flows in a low interest rate environment, making them attractive for insurance capital [8]. Group 4: Investment Capability Enhancement - The changing investment environment demands improved asset identification and operational management capabilities from insurance institutions [9]. - A shift from a credit-focused approach to a more asset-understanding capability is essential for long-term stability and risk management [9]. - The industry consensus emphasizes the importance of deepening value investment and focusing on high-quality growth sectors such as new energy, technology, and advanced manufacturing [9].

Core Viewpoint - Insurance capital institutions are increasingly active in the capital market, adopting a long-term investment perspective and focusing on major national strategies and new productivity frontiers [1][2] Group 1: Investment Scale and Strategy - China Life Asset Management has over 6.5 trillion yuan in total managed assets, with nearly 4 trillion yuan serving the real economy [1] - The company aims to be a leader in capital market reform, a long-term investor, and a contributor to market stability [1] Group 2: Long-term Investment Initiatives - The launch and expansion of the insurance capital long-term investment reform pilot is a significant reform measure in the insurance sector [2] - China Life Asset has initiated the Honghu Fund, creating a new model for stable long-term investment in stocks, with three phases already established [2] - The fund focuses on high-quality, stable dividend blue-chip stocks to reduce short-term price volatility and promote sustainable investment returns [2] Group 3: Focus on Technological Innovation - China Life Asset has been actively investing in technology innovation, establishing various investment plans to support major national strategies [3] - The company has initiated projects like the "China Life-Hu Fa No. 1 Equity Investment Plan" to explore the synergy between insurance funds and government funds [3] Group 4: Investment Methodology - The company has developed a unique investment methodology that emphasizes research-driven investment and a comprehensive research team [4][5] - The "dual-line allocation" investment methodology integrates asset-liability management and aligns with national strategic needs [5] Group 5: Digital Transformation - China Life Asset has initiated a digital transformation strategy since 2018, focusing on building the CLIMB platform to enhance investment management efficiency [7][8] - The platform utilizes advanced technologies like cloud computing and AI, achieving significant operational efficiencies and supporting daily transactions exceeding 30 billion yuan [8]

Core Viewpoint - Insurance capital institutions are increasingly active in the capital market, adopting a long-term investment perspective and focusing on major national strategies and new productivity frontiers [1][2] Group 1: Investment Scale and Strategy - China Life Asset Management has over 6.5 trillion yuan in total managed assets, with nearly 4 trillion yuan serving the real economy [1] - The company aims to be a leader in capital market reform, a long-term investor, and a contributor to market stability [1][2] Group 2: Long-term Investment Initiatives - The launch and expansion of the Honghu Fund represents a new model for long-term stable investment of insurance funds in stocks [2] - The Honghu series funds focus on high-quality, stable dividend blue-chip stocks to reduce short-term price volatility and promote sustainable investment returns [2] Group 3: Focus on Technological Innovation - China Life Asset has established several investment plans targeting technological innovation, including partnerships with government funds [3] - The company is involved in significant projects that align with national strategies, such as hydropower and clean energy investments [3] Group 4: Investment Methodology - The company has developed a unique investment methodology that emphasizes research-driven investment and a comprehensive research team [4][5] - A "dual-line allocation" investment methodology has been implemented, focusing on asset-liability management and aligning investments with national priorities [6] Group 5: Digital Transformation and Efficiency - The company initiated a digital transformation strategy in 2018, launching the CLIMB platform to enhance investment management efficiency [7] - The platform integrates advanced technologies like cloud computing and AI, achieving significant operational efficiencies and supporting daily transactions exceeding 30 billion yuan [7][8] Group 6: Industry Leadership and Collaboration - China Life Asset actively promotes industry standards and collaborates on digital transformation initiatives within the asset management sector [8] - The establishment of joint innovation laboratories aims to foster new investment management systems and innovative products [8]

近年来，险资机构日益活跃在资本市场，以长期主义视角，秉承长期投资、价值投资、稳健投资理念， 积极围绕国家重大战略和新质生产力前沿领域排兵布阵。 作为头部险资机构，国寿资产目前合并管理资产总规模已经超过6.5万亿元，服务实体经济规模近4万亿 元，积极发挥头雁作用，争做资本市场改革的行动派、资本市场的长期投资者、稳定资本市场的贡献 者，以及落实国家战略部署的引领者。 国有金融企业和中国资本市场大型机构投资者的担当，也在国寿资产独具特色的投资方法论和投资实践 中得以彰显——一方面，为实体经济引入更多源头活水，为资本市场带来更多长期增量资金；另一方 面，通过逆周期和跨周期布局，拉长资产久期，稳定自身投资收益，夯实承托万亿元民生保障的硬实 力。 ● 本报记者 薛瑾 陈露 中长期资金入市先锋 去年以来，资本市场投资端改革加速，长钱长投政策体系加快构建。在保险领域，最突出的改革举措之 一，就是保险资金长期投资改革试点的落地和扩围。 国寿资产率先响应监管部门号召，联合相关机构发起鸿鹄基金，开创了保险资金长期稳定投资股票新模 式。目前，国寿资产已携手相关机构连续发起设立了三期鸿鹄基金，对资本市场长期稳定发展的支持力 度不断增强 ...

为进一步畅通"险资入鲁"渠道，加力推动保险资金赋能山东高质量发展，9月23日，我省在济南组织召开"险资入鲁：保险资管助力山东产业升级与创新发 展"恳谈会。 会议设置项目路演和项目洽谈环节，山东省财金投资集团有限公司、潍柴控股集团有限公司、中国重型汽车集团有限公司等10家企业进行了项目路演，73 个基础设施、科技创新、绿色发展等重点领域优质项目建设方与保险机构负责人进行了深入洽谈。 截至2025年6月末，保险资金通过债权投资计划、股权投资计划、保险私募基金三类产品投向山东省累计登记规模5800多亿元，主要投向新型基础设施、 绿色产业、战略新兴产业等领域，并且形成了一批收益和口碑兼具的项目。同时，保险资金还积极通过认购债券、战配股票、参与公募REITs等方式，参 与山东经济建设。 本次会议以实际行动贯彻落实习近平总书记视察山东重要讲话精神，支持山东经济大省挑大梁，通过搭建保险资管机构与山东重点产业交流合作平台，深 化产融合作对接，为加快山东现代化强省建设注入强劲金融动能。 会议由省委金融办、山东金融监管局联合主办，中国人寿山东省分公司、中国人寿财险山东省分公司、济南市委金融办共同承办，邀请中国保险资产管理 业协会 ...

Core Insights - The article highlights the achievements of China's financial industry during the "14th Five-Year Plan" period, emphasizing high-quality development and effective risk management [1][2][4] Financial Industry Strength - As of June 2025, China's banking sector assets are expected to reach nearly 470 trillion yuan, ranking first globally; the stock and bond markets are the second largest in the world [1] - The total assets of the banking and insurance sectors have surpassed 500 trillion yuan, with an annual growth rate of 9% over the past five years [2] - The asset management of trust, wealth management, and insurance institutions has doubled compared to the end of the "13th Five-Year Plan," reaching nearly 100 trillion yuan [2] Support for the Real Economy - During the "14th Five-Year Plan," the banking and insurance sectors provided an additional 170 trillion yuan in funding to the real economy through various financial instruments [2] - Loans for scientific research, manufacturing, and infrastructure have seen average annual growth rates of 27.2%, 21.7%, and 10.1%, respectively [2] - The balance of loans to small and micro enterprises has reached 36 trillion yuan, 2.3 times that of the end of the "13th Five-Year Plan," with interest rates decreasing by 2 percentage points [2] Risk Management - The financial management departments have made significant progress in risk prevention and control, with a focus on stabilizing the overall situation and coordinating efforts [3][4] - A mechanism for coordinating real estate financing has been established, with credit support exceeding 7 trillion yuan for nearly 2 million housing units [3] - The number of local government financing platforms has decreased by over 60%, and the scale of financial debt has dropped by more than 50% compared to early 2023 [3] Governance and Market Stability - There have been breakthroughs in corporate governance regulation, with over 3,600 illegal shareholders removed and significant improvements in the governance efficiency of financial institutions [4] - The stability of the financial market has been enhanced, with the RMB exchange rate remaining stable and low bond default rates [4] - The People's Bank of China is exploring new monetary policy tools to maintain capital market stability [4] Internationalization and Openness - By the end of July, foreign institutions and individuals held over 10 trillion yuan in domestic stocks, bonds, and deposits, indicating active cross-border investment [6] - The RMB has become the largest settlement currency for China's external payments and ranks among the top three trade financing and payment currencies globally [6] - The financial industry has made systematic progress in opening up, with enhanced risk prevention capabilities in the context of a more open financial environment [6][7] Future Outlook - The foreign exchange management system will be further improved to facilitate a more convenient, open, secure, and intelligent foreign exchange management mechanism [7]

证券时报见习记者 沈述红 "市场正在经历一场创新驱动的牛市。"近日，民生加银基金权益投资部总监助理、投资决策委员会成 员、基金经理尹涛接受证券时报记者采访时表示，当前AI、创新药、新消费等领域正在爆发"中国式创 新"的化学反应。 这位兼具10年财经媒体观察视角与17年跨市场投资经验的管理人，通过构建"宏观周期研判+行业轮动 配置+个股深度挖掘"的三维模型，在近年结构性市场中形成差异化投资策略。尹涛提出，"要学会在牛 市打'持久战'，在平衡市和熊市打'游击战'，让'基本面'与'活下去'同频"。 以宏观为锚 作为中国最早一批证券市场守望者，尹涛深耕行业27载，前10年投身财经媒体，后17年专注证券投资领 域。由于媒体生涯经常面对面接触发改委和财政部的高层官员与专家，他在这段经历中练就了独特 的"政策破译能力"，建立起宏观研究的视野。这为他日后转型投资奠定了基础。 2008年，尹涛加入长城人寿保险投资部，担任投资经理。当时保险资管行业尚处萌芽阶段，投资工具、 人手和范围均有限制。但正是这种"戴着镣铐跳舞"的环境，练就了他的大类资产配置能力。 2008年全球金融危机期间，市场在恐惧与贪婪中剧烈波动。尹涛判断国内通胀将 ...

Core Insights - The asset management industry in Beijing's Xicheng District has seen significant growth, with assets under management exceeding 20 trillion yuan, accounting for over 50% of the city's total and more than 1/8 of the national total [1][2] - The establishment of the Beijing Stock Exchange has further enhanced the asset management ecosystem, with over 270 listed companies and a total market capitalization exceeding 900 billion yuan [3] - Xicheng District aims to become a leading asset management hub by promoting diversification, internationalization, and professional service enhancement [4] Group 1 - The asset management sector in Xicheng District is crucial in connecting investor wealth needs with the financing demands of the real economy [1] - Since the implementation of new asset management regulations in 2019, Xicheng has attracted 171 asset management institutions, representing over 50% of newly introduced financial institutions [2] - The district's asset management industry encompasses various financial sectors, including banking, securities, insurance, funds, and trusts, creating a comprehensive asset management system [2] Group 2 - The Beijing Stock Exchange has attracted over 800 million qualified investors and has seen a significant increase in the number of professional investors from various fields [3] - The bond market ecosystem in Xicheng is robust, with nearly 80% of national bond issuance and registration handled by local institutions [3] - Xicheng District is focused on enhancing its financial services, particularly in technology-driven equity asset allocation and ESG asset management product development [3] Group 3 - The district's goal is to build a modern asset management highland, characterized by leading industry scale, openness, and a complete ecological system [4] - Future initiatives will include optimizing the asset management industry structure and accelerating the introduction of foreign asset management institutions [4] - The district aims to enhance its professional service system and attract more financial talent to support its growth objectives [4]