Recently, the Central Committee of the Communist Party of China and the State Council issued the "Opinions on the Development of New Productivity Productivity" (hereinafter referred to as the "Opinions"), which made arrangements around promoting technological innovation, deep integration of technological innovation and industrial innovation, innovation in development methods, and innovation in systems and mechanisms, and clarified the direction for accelerating the development of new quality productivity.
Finance is the bloodline of the real economy and an important support for cultivating and developing new productive forces. The "Opinions" propose to increase the supply of financial innovative products, encourage and standardize the development of angel investment, venture capital, and private equity investment, give better play to the guiding and driving role of government investment funds, improve the support policies for long-term capital investment early, small investment, long-term investment, and investment in hard technology, and strengthen patient capital.
In recent years, Ping An Life Insurance Co., Ltd. of China (hereinafter referred to as "Ping An Life") has actively responded to the national strategic deployment, fully leveraged the "long-term, stable, and sustainable" advantages of insurance funds, and bravely acted as a "booster" and "catalyst" for the development of new productive forces. The investment scale in the field of science and technology has exceeded 250 billion yuan.
Ten billion industrial funds landed in Shenzhen to serve the development of new productivity in the Greater Bay Area
The Guangdong-Hong Kong-Macao Greater Bay Area is an important strategic highland for technological innovation and industrial upgrading. Ping An Life actively integrates into the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and injects long-term capital into the high-quality development of the Greater Bay Area. In 2024, Ping An Life will join hands with the Shenzhen Municipal Government and other relevant parties to establish a private equity investment fund with a fund scale of 10 billion yuan, focusing on Shenzhen's "20+8" industrial cluster.
Ping An Life fully leverages the advantages of large-scale and long-term insurance funds, and explores a sustainable path for insurance funds to support the development of new productive forces through the combination of long-term infrastructure investment and venture capital investment. This will help guide the flow of long-term capital to strategic emerging industries and future industries, and promote the precise connection between financial resources and regional industrial development needs.
Invest early, invest small, invest long-term, invest in hard technology to help tackle core technology problems
Scientific and technological innovation is the core element of developing new productive forces. Ping An Life actively practices investments in early stage, small investment, long-term investment and hard technology, assists in the research of key core technologies and the transformation of scientific and technological achievements, and injects financial momentum into the development of strategic emerging industries and the construction of modern industrial systems.
With its mission to serve the national strategy and the real economy, Ping An Life leverages its long-term capital advantages and joins hands with outstanding investment managers in the market to jointly anchor the long-term value of new productivity. Focusing on the new productivity direction of the 15th Five-Year Plan, Ping An Life focuses on five major sectors, covering AI algorithm computing power, embodied intelligence, high-end equipment, innovative drugs, commercial aerospace and other emerging fields. It has participated in investments in technology companies such as Yushu Technology, Changxin Technology, and DeepSeek through funds, special accounts, etc.
Increase investment in green finance to help grow the green energy industry
Building a green, low-carbon circular economic development system is an important direction for cultivating and developing new productive forces. Ping An Life actively implements the national "dual carbon" strategy, continues to increase investment in clean energy, green infrastructure and other fields, and supports the development of green and low-carbon industries with patient capital.
For example, Ping An Life invested RMB 3.726 billion to support two offshore wind power station projects in Shanwei Jiazi and Huizhou Port of China Guangdong Nuclear Power Wind Power Co., Ltd. The two projects have a total installed capacity of 1.9GW. They are the first million-kilowatt offshore wind power projects in eastern Guangdong and the Guangdong-Hong Kong-Macao Greater Bay Area respectively. By directly investing in new energy projects, Ping An Life combines the long-term allocation needs of insurance funds with the development needs of green industries. It not only expands the investment areas for insurance funds to serve the real economy, but also provides financial support for promoting the optimization of energy structure and promoting green and low-carbon transformation.
Ping An Life stated that facing the "15th Five-Year Plan", the company will thoroughly implement the decisions and arrangements of the Party Central Committee and the State Council, adhere to the political and people-oriented nature of financial work, adhere to the origin of insurance, continue to leverage the advantages of long-term capital and patient capital of insurance funds, further increase support for key areas such as technological innovation, advanced manufacturing, and green energy, promote the concentration of financial resources in major national strategies and key areas of the real economy, nourish the fertile soil of the real economy with financial vitality, and contribute Ping An's strength to the cultivation and development of new productive forces and the promotion of high-quality economic development.
