China Life Holds Work Conference for the First Half of 2023

　　From July 17 to 18, China Life Insurance held a work conference for the first half of 2023. Bai Tao, Secretary of the Party Committee and Chairman of China Life Group, made a speech on behalf of the Party Committee of the GroupDeepen theme education, strengthen practical responsibility, and accelerate the construction of a world-class financial and insurance group“Speech, Cai Xiliang, deputy secretary of the party committee and president of the group, made a report on the operation and management of the first half of the year. The relevant departments of the group will make special reports on finance, risk, customer management and investment, and the life insurance companies, China Guangfa Bank and asset companies under the group will make special reports on business development. The meeting closely focused on deepening the study and implementation of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, scientifically studied and judged the situation, grasped the law of development, guided the majority of cadres and employees to strengthen their responsibilities, and accelerated the construction of a world-class financial and insurance group.

Overcome difficulties and take active actions

Better Structure Better Quality Better Value

The development pattern is basically formed

Speech by Bai Tao, Secretary of the Party Committee and Chairman of the Group

　　The meeting pointed out that in the first half of 2023, China Life will adhere to the general tone of the work of seeking progress while maintaining stability, and conscientiously implement the “One increase, one excellence, six enhancements“Working ideas, the momentum of high-quality development” progress has been significantly enhanced, and a future-oriented development pattern has initially formed. The group’s consolidated operating income632.5 billion yuancombined premium income549.7 billion yuanyear-on-year growth6%,7.2%; A breakthrough in the scale of assets under management12 trillion yuan.

　　Overall, China Life presents a “Three more,three last“Good situation:

In-depth theme education

　　Endeavor attitudemorepowerful

A number of development problems and historical problems have been gradually solved, the ideals and beliefs of the system have become firmer, and development confidence has become stronger.

Actively serve the overall situation of the country

　　Responsible for central enterprisesmorehighlight

　　Vigorously Expand People’s Livelihood Security Servicesmanagement scale of enterprise annuity and occupational annuityOver 1.5 trillion yuanthe accumulated reserves of annuity insurance with strong pension attributesup to 1.7 trillion yuanthe scale of personal pension and commercial pension business is industry-leading, and the number of people covered by long-term care insuranceMore than 33 million peopleThe layout of the elderly care industry continues to expand.Comprehensive support for the development of the real economythe stock scale of insurance funds invested in the real economy has broken through4.2 trillion yuana number of influential projects were implemented; the balance of strategic emerging industry loans, medium and long-term manufacturing loans, and agriculture-related loans increased compared with the beginning of the year31%,32%and12%.In-depth service to national security and social governance systemcatastrophe insurance premiums increased year-on-year5%agricultural insurance premium growth rate25%.

Comprehensively strengthen value creation

　　development patternmoreoptimization

Each sector and each unit has a better structure, higher value, and better momentum.

Continuously deepen reform and innovation

　　Development momentumcontinuedenhance

The digital transformation has been accelerated in an all-round way, the coordinated development has reached a new level, and the reform of the marketing system has been steadily advanced.

Focus on preventing and defusing risks

The bottom line of safety continues to be strengthened

Strengthen risk situation analysis and dynamic monitoring and early warning, systematically investigate and actively resolve potential risks in key areas, and comprehensively strengthen compliance management and consumer rights protection.

Promote comprehensive and strict governance of the party

　　political ecologycontinuedpurify

Comprehensively strengthen the management and use of cadres, innovate and implement the “big supervision” system, and persevere in the discipline and anti-corruption.

Facing the future and laying a solid foundation

Accelerate the construction of world-class enterprises in an all-round way

　　The meeting emphasized that it is necessary to closely focus on highlighting political leadership, market leadership, excellent benefits, innovation-driven, and excellent image”five outstanding“And first-class operating efficiency, first-class product service, first-class brand reputation, first-class corporate governance, first-class innovation ability, first-class resource gathering and allocation ability, first-class talent team, first-class risk prevention and control”eight first class” to comprehensively accelerate the construction of a world-class enterprise.

　　do “five outstanding“”eight first class“The key is to make good use of Xi Jinping’s socialist ideology with Chinese characteristics in the new era to arm the mind, guide practice, and promote work.four aspects:

　　Continue to strengthen strategic thinking ability and grasp the overall situation.Insurance, as the “heavy weapon of the country”, will play an increasingly important role in the overall situation of the party and the country. For a long time to come, China will still be the insurance market with the most potential and vitality in the world.

　　Firmly establish the concept of maximum integrity and boost the social image of the industry.It is necessary to firmly establish the concept of customer-centered development, change the management model, upgrade product services, and make insurance become the confidant and good partner of the people.

　　Always adhere to legal and compliant operations to consolidate the value foundation.It is necessary to focus on the construction of a compliance culture, continue to improve the training system, continuously improve the system and process, and strictly supervise the implementation of the system.

　　Adhere to the responsibility of guarding the soil and fulfilling the responsibility of guarding the soil, and actively resolve risks.It is necessary to continue to improve the full-coverage and penetrating risk perception system, make every effort to resolve existing risks, contain incremental risks, and resolutely hold the bottom line of no systemic risks.

 

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