On September 26, the Insurance funds are taking action in the Greater Bay Area, according to the Science and Technology Innovation Board Daily (Reporter Chen Mei).

Recently, China Life Insurance established the Zhuhai Leading Kunpeng Equity Investment Fund Partnership Enterprise (Limited Partnership) in Zhuhai.

The information of the partners shows that China Life Insurance is the largest shareholder of the fund, with a contribution as high as 4 billion yuan, accounting for 99.9% of the investment. China Life Insurance Investment Management Co., Ltd. (referred to as China Life Investment) acts as the GP, contributing 1 million yuan, accounting for 0.025%.

China Life Insurance continues to make moves in Zhuhai.

Equity penetration shows that China Life Investment was established in 2007, and is a professional alternative investment platform under China Life Insurance, covering equity investment, real estate investment, infrastructure investment, special opportunities investment, inclusive finance, etc.

So far, China Life Investment has made 42 external investments. This year, China Life Investment has participated in the equity investment partnerships of Yunnan New Energy Fund Partnership Enterprise (Limited Partnership), Wuhan Hexin Xingyuan Enterprise Management Partnership Enterprise (Limited Partnership), Qinghai Zhongzhou New Energy Co., Ltd., and Ganghong Sheng Era New Energy (Yumen) Co., Ltd.

The reporter of the Science and Technology Innovation Board Daily noted that this is not the first time China Life Insurance has made a move in Zhuhai. Previously, the insurance funds had been continuously investing in cities such as Zhuhai in the Greater Bay Area.

The data shows that in 2023, China Life Insurance, through its subsidiary China Life Investment, successfully issued and completed the first investment of 2 billion RMB in the "China Life Investment - Huafa Industrial New Space Phase II Infrastructure Debt Investment Plan", supporting the construction of the 5.0 Industrial New Space project in Zhuhai.

The project, as an important strategic deployment made by the Zhuhai Municipal Party Committee and Municipal Government to promote the development of the "industry-first" strategy and solve the bottleneck problem of insufficient industrial space, will focus on introducing a group of companies in industries such as new energy, integrated circuits, biomedical and health, equipment manufacturing, and new generation information technology after completion, enhancing the integration of high-end technology industry space, and striving to inject new vitality and provide new impetus for the high-quality development of Zhuhai.

Earlier, at the end of 2022, China Life Investment coordinated and provided 2.5 billion RMB of internal and third-party funds for Zhuhai Huafa, and the aforementioned 2 billion RMB debt plan was the second cooperation.

In addition to financial cooperation, China Life Insurance also cooperates with the Zhuhai Municipal Government to carry out the "Silver Age Health Action", providing accident insurance protection for people over 60. At the same time, in business operations, Guangfa Bank, a member of China Life Insurance Group, has set up branches in Zhuhai and Macau, providing comprehensive financial services through domestic and overseas linkage.

Private equity investors believe that China Life Insurance's continued investment in Zhuhai demonstrates confidence in Zhuhai's sustained economic growth and further investment in high-tech, high-end manufacturing, and other industrial sectors.

Multiple insurance funds are layouting in the Greater Bay Area.

China Life Insurance's involvement in Zhuhai is just a glimpse of the insurance funds' layouting for the economic development of the Greater Bay Area.

The Science and Technology Innovation Board Daily noted that in early September, Ping An Life Insurance also launched a new fund in Shenzhen. Caixin Venture Capital Inc. - Commitment Data shows that Ping An Life Insurance invested 10 billion yuan in Shenzhen to establish a private equity fund.

In the private equity fund LP, Ping An Life, as the largest shareholder, contributed 9.449 billion yuan, accounting for 94.49%; Shenzhen Guiding Fund contributed 0.26 billion yuan, accounting for 2.6%; Shenzhen Maritime Investment contributed 50 million yuan, accounting for 0.5%.

Similarly, on September 6, China Pacific Insurance, in collaboration with the National Green Development Fund, Shenzhen Baoan District Industrial Investment Guidance Fund, China Taiping Property Insurance, CICC, established the CICC Titanium Green Carbon Technology Private Equity Investment Fund (Shenzhen) Limited Partnership, with a total size reaching 3 billion yuan.

In 2023, China Pacific Insurance signed a cooperation agreement with CICC for the Greater Bay Area Green Carbon Technology Fund, with a target size of 10 billion yuan, initial phase of 3 billion yuan, focusing on green energy, green transportation, green cities, and green manufacturing.

In response, China Pacific Insurance expressed that the Greater Bay Area is the main battlefield for its regional development, advocating for 'green development', introducing ESG management concepts, and increasing the supply of green financial products.

Furthermore, China Life Property & Casualty Insurance contributed 0.63 billion yuan to participate in the Guangzhou Xin Cheng Second Phase Industrial Investment Fund Limited Partnership; Taikang Life successfully acquired a piece of land in Guangzhou's Huangpu District for the construction of the Taikang Home · Yue Garden Phase II project, enhancing the supply of high-quality retirement services.

In fact, behind the investments of insurance funds in the Greater Bay Area lies the national strategic significance of the Guangdong-Hong Kong-Macao Greater Bay Area, reflecting the support and response of insurance funds to national strategies.

An investor informed reporters from the STAR Market Daily that the Greater Bay Area is one of the fastest-growing regions in the Chinese economy, with a massive economic scale and market potential, offering good investment opportunities for insurance funds.

"Due to the extensive funding required for infrastructure development in the Greater Bay Area, alternative asset allocation by insurance funds can provide long-term stable funding sources for these projects. Additionally, the intra-regional financial integration in the Greater Bay Area also offers opportunities and conveniences for the flow and investment of insurance funds."

Under diversified investment, insurance funds can also achieve risk diversification and improve investment portfolio stability through this strategy. From a business perspective, the demand for the retirement industry in the Greater Bay Area is also increasing day by day, with insurance funds having a large layout space in areas such as retirement communities and health services.

Therefore, supporting industrial upgrades, cross-border financial services, promoting connectivity, etc., has become an important reason for the active participation of insurance funds in the Greater Bay Area.