On April 18th, the second batch of highly anticipated pilot reforms for long-term investment of insurance funds has made new progress. On April 16th, Taikang Asset Management Co., Ltd. announced that its application to establish a wholly-owned private fund management subsidiary, Taikang Wenxing Private Fund Management Co., Ltd., has been approved by the State Administration of Financial Regulation. It is also reported that the relevant application materials for China Taiping Insurance to establish a private fund company have been submitted to the State Administration of Financial Regulation and are awaiting approval. The subsequent work related to the establishment of the fund is also being intensively prepared, and various tasks are currently progressing smoothly. In addition to the two institutions mentioned above, other insurance institutions that are piloting the establishment of private fund companies are also expected to make substantial progress.
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