Docvit News | Innovation and Legal Health Development Summit Forum of Insurance and Insurance Asset Management Industry under Financial Opening New Pattern - 2018 Blue Book of Legal Health of China's Insurance Industry Conference was successfully held
Source: Time: 2019-09-02 15:35:49 Author:
Innovation and Legal Health Development Summit Forum of Insurance and Insurance Asset Management Industry under Financial Opening New Pattern - 2018 Blue Book of Legal Health of China's Insurance Industry (Index and Topics) Conference jointly held by Green Legal Global Alliance, Beijing Docvit Law Firm and SINA Finance was successfully held in Beijing on August 31, 2019. Representatives from various institutions and enterprises in the financial institutions, insurance and insurance asset management industries attended the forum to discuss the sound development of the insurance asset management industry under the new opening-up pattern.
News Conference of 2018 Blue Book of Legal Health of China's Insurance Industry (Index & Topics)
Mr. LIU Guangchao, the founding partner and director of Beijing Docvit Law Firm and the director general of Green Legal Global Alliance, hosted the forum. The forum officially released the 2018 Blue Book of Legal Health of China's Insurance Industry and announced the 2018 China Insurance Industry Legal Health Index - 112.44. At the forum, Director Liu Guangchao interpreted the Blue Book. He said that Beijing Docvit Law Firm, as a professional support unit, jointly released the 2015-2017 China Insurance Industry Legal Health Index with Green Legal Global Alliance and Sina Finance on December 16, 2018. 2018 Blue Book of Legal Health of China's Insurance Industry released today supplemented the legal health index and the special report on the basis of the index. The legal health index reflects the current development status quo and the future development trend of China's insurance industry, from the perspectives of business entity, business operation, capital utilization, supervision and regulation system, in a comprehensive, objective and three-dimensional manner on the basis of law. The special report focuses on the frontiers and hot issues in the insurance and insurance asset management industry. It has conducted the comprehensive analysis and interpretation for several topics related to the legal and insurance industries, including equity investment, insurance internationalization, and insurance finance, which further expands and enriches the evaluation system of the legal health status of the insurance industry. Beijing Docvit Law Firm will continue to exert its strength in the legal field and continue to conduct research on the legal health index of the industry, with the aim of providing advice and suggestions for the healthy development of the industry under the new economic situation.
Industry experts gathered together for discussions
The road to innovation and healthy development of the insurance and insurance asset management industry under the new financial pattern
During this forum, the guests present put forward different opinions concerning "Practical Dilemma of Equity Investment in Insurance Funds under the New Policy of Pan-asset Management and Integrated Regulation", "Exploration of Insurance Fund Equity Investment Path and Innovation of Regulation Ideas under the New Situation", "Opportunities and Challenges of Insurance Funds Participating in Overseas Equity Investment under the Financial Openness", "Discussion on Risk Management and Control of Future Insurance Fund Equity Investment" and other topics.
Miss YANG Fan, the vice president of New China Asset and deputy director of the Equity Special Committee of Insurance Asset Management Association of China, expressed her exclusive views on the topics such as "Problem Faced by the Development of Private Equity Investment and Countermeasures". In addition, Miss YANG Fan said that as an insurance asset management institution, New China Asset is looking forward to the further opening of China's finance and a clearer legal regulatory system in the legal field, which is the basic guarantee for financial markets. Therefore, the release of the Blue Book and the industry research conducted by the Green Legal Global Alliance look to future improvement.
Mr. TAN Guobin, the chief investment officer of PICC Capital Investment Management Company Limited, shared his understanding on the equity investment in insurance funds from the aspects of "equity investing method of insurance funds from the perspective of allocation" and "equity investing method of insurance asset management institutions". He said that since the insurance funds released equity investment in 2010, the regulatory authorities have been guiding insurance funds to invest in equity, but insurance funds are relatively cautious in making equity investments, including risk factors, solvency and many other issues.
Mr. JIA Yanlong, founding partner and general manager of Source Capital, proposed that the insurance liability characteristics determine that a large proportion of that is prospective projects with cash flow investment; the short-term private placements were conducted by the investors, which is not popular with most people; the internal decision-making process is relatively complicated; the overall economic environment and the development of the insurance industry are not optimistic in recent years; the inherent problems of the private equity industry; the obvious effects of leading enterprises in the industry cause the situation of "it's not easy to earn from the insurance".
Mr. XU Yuxin, deputy general manager of CCCC Fund, made an explanation on the "Relationship between Insurance Funds and Infrastructure Investment". He believes that insurance funds and infrastructure investment have a higher degree of fitting. In addition, he said that the insurance industry is developing rapidly but not evenly, and the 2018 Blue Book of Legal Health of China's Insurance Industry released today has a good guiding significance for how to strengthen and expand the insurance industry and promote the development of the insurance industry.
Mr. YIN Kai, managing director of CASVC, from the perspective of FOF, proposed that the deep integration of science and finance advocated by the state can participate in the FOF through financial institutions, forming the pilot exploration to promote innovation and facilitate the high quality development, so as to promote the transformation of scientific and technological achievements and drive science and technology to facilitate the development of the real economy.
Mr. LU Xiaobing, chief investment officer of Hangzhou Oriental Jiafu Asset Management Co., Ltd, expressed his views on the participation of insurance funds in private equity investment. He suggested that the advantages of FOF and government guidance funds in private equity funds are more obvious. Firstly, there is a close relationship among the characteristics of insurance funds, the industrial attributes of insurance and the market capacity of equity; Secondly, since information asymmetry and friction costs lead to poor cooperation, insurance institutions tend to set up their own PE funds.
Miss ZHENG Muzi, general manager of SDIC exchanged views from the perspective of "Local AMC and Insurance Fund Cooperation". She suggested that the cooperation between local AMC and insurance funds is relatively small in the form of funds. The matching of non-performing asset investment cycle and insurance fund duration is relatively high. In addition, Ms. Zheng believes that the release of the Blue Book has made an objective research on the development status quo of the insurance industry and the situation from the legal perspective, and provided useful guidance for the further development of the insurance asset management industry.
Miss ZHUO Le, director of legal risk control of Huagai Capital Co., Ltd., expressed her views from the perspective of market-oriented fund managers. She proposed that the internal risk management of the fund is a pyramid structure, and the management company needs to focus on the internal control guidelines for insurance. About the fund, it is very important to be fully transparent and open to insurance capital.
Miss MA Yayun, the senior partner of Beijing Docvit Law Firm, shared her views on equity investment plans by combining her many years of experience in practice. She believes that the equity investment plan is facing various pressures under the current policy environment. In addition to the insurance asset management industry audit standards, the infrastructure association audit standards are also involved. Under the requirements of compliance and approval, it is more difficult to bridge the needs of both the fund side and the asset side. Product development is a relatively slow process. The product investment model will be continuously explored and shaped, forming into an investment model acceptable to the industry gradually.
In the end, Director LIU Guangchao made a summary of the conference. He suggested that Beijing Docvit Law Firm will continue to carry out research on 2018 Blue Book of Legal Health of China's Insurance Industry, with the law as the core element, constantly exploring and extending to the industry, with the aim of facilitating the green and healthy development of the industry by using the power of law.
Docvit News | Mr. LIU Guangchao got shortlisted in the Expert Bank of the First Equity Investment Plan and Insurance Private Equity Fund Evaluation of Insurance Asset Management Association of China, and became an expert both in the in insurance fund creditor's rights and equity investment Docvit News | Mr. LIU Guangchao was elected as the council of the 11th Beijing Lawyers Association Docvit News | Mr. LIU Guangchao participated in the "Equity Investment Plan and Insurance Private Equity Fund Evaluation Expert Training Seminar" of Insurance Asset Management Association of China and obtained the expert appointment letter Docvit News | Mr. LIU Guangchao was invited to attend China Finance 40 Forum Annual Conference in 2019 - special theme seminar, and obtained the letter of appointment as a council.
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