今年，险资对权益市场的配置热情延续。 据21世纪经济报道记者统计，年内险资举牌次数已经达到30次，其中，有6次A股市场举牌，25次H股市 场举牌，涉及行业以银行、保险为主，也涵盖公用事业、能源、生物医药、科技等板块。 在低利率及保险行业资金成本偏高的背景下，保险资管需要通过更加审慎的态度，以及长线的投资思维 获取市场收益。近期，21世纪经济报道旗下栏目《对话资管30人》专访了中国太保副总裁、首席投资 官、财务负责人苏罡，请他详解当前环境下保险资金对权益、固收、另类等资产配置的道与术。 低位加仓，以股息价值策略为核心 《21世纪》：请介绍一下公司最近一年来在投资端的整体表现，以及其中你认为比较突出的亮点。 苏罡：中国太保坚持"价值投资、长期投资、稳健投资、责任投资"的投资理念。近年来，中国太保坚持 落实精细化的哑铃型资产配置策略，一方面，持续加强长期利率债的配置，以延展固定收益资产久期， 公司在政府债上的配置比例逐年提升，居上市同业前列，资产负债修正久期缺口持续缩短；另一方面， 适当增加权益类资产以及未上市股权等另类投资的配置，以提高长期投资回报。 中国太保多次在权益市场低位时择机进行加仓，近一年来，在2024 ...

据21世纪经济报道记者统计，年内险资举牌次数已经达到30次，其中，有6次A股市场举牌，25次H股市 场举牌，涉及行业以银行、保险为主，也涵盖公用事业、能源、生物医药、科技等板块。 在低利率及保险行业资金成本偏高的背景下，保险资管需要通过更加审慎的态度，以及长线的投资思维 获取市场收益。近期，21世纪经济报道旗下栏目《对话资管30人》专访了中国太保副总裁、首席投资 官、财务负责人苏罡，请他详解当前环境下保险资金对权益、固收、另类等资产配置的道与术。 低位加仓，以股息价值策略为核心 《21世纪》：请介绍一下公司最近一年来在投资端的整体表现，以及其中你认为比较突出的亮点。 苏罡：中国太保坚持"价值投资、长期投资、稳健投资、责任投资"的投资理念。近年来，中国太保坚持 落实精细化的哑铃型资产配置策略，一方面，持续加强长期利率债的配置，以延展固定收益资产久期， 公司在政府债上的配置比例逐年提升，居上市同业前列，资产负债修正久期缺口持续缩短；另一方面， 适当增加权益类资产以及未上市股权等另类投资的配置，以提高长期投资回报。 21世纪经济报道记者 吴霜 上海报道 今年，险资对权益市场的配置热情延续。 对于保险资金的举牌行为， ...

Core Viewpoint - The regulatory penalties imposed on Ningyin Consumer Finance highlight the ongoing challenges in balancing growth and compliance within the consumer finance industry, as companies face increasing scrutiny from regulators while trying to expand their market share [1][3][4]. Group 1: Regulatory Penalties - Ningyin Consumer Finance was fined 1.65 million yuan for five violations, including inadequate control over customer credit limits and issuing loans to ineligible clients [1][2]. - The company has been under scrutiny since its establishment in 2016, with a registered capital of 3.6 billion yuan and a loan balance of 59.035 billion yuan as of the end of 2024 [2][3]. - The penalties reflect a broader trend in the industry, with multiple consumer finance companies facing similar fines for compliance failures since 2025 [3][4]. Group 2: Risk Management and Compliance Challenges - The violations at Ningyin Consumer Finance expose significant gaps in its risk management framework, particularly in credit assessment and data quality [2][4]. - The reliance on partnerships for loan origination has led to a dilution of risk management standards, as companies prioritize growth over compliance [2][3]. - The industry is experiencing heightened regulatory pressure, necessitating increased investment in internal controls and compliance systems to meet evolving regulatory demands [3][4]. Group 3: Industry Trends and Future Outlook - Despite regulatory challenges, consumer finance companies continue to seek funding through financial bonds and asset-backed securities, indicating persistent market demand [5][6]. - The issuance of bonds by various consumer finance firms, with amounts typically ranging from 1 billion to 5 billion yuan, suggests a robust appetite for expansion despite rising compliance costs [6]. - The need for a balanced approach to growth and compliance is critical for the sustainability of individual firms and the overall stability of the financial system [6][7].