China Life signed a 5 billion yuan contract with Guangxi Communications Investment
On September 21, the 8th “China-ASEAN Insurance Cooperation and Development Forum” (hereinafter referred to as the “Forum”), jointly organized by the State Administration of Financial Supervision and the People’s Government of the Guangxi Zhuang Autonomous Region, was held in Nanning, Guangxi. At the forum, China Life Investment Company, a subsidiary of China Life Group, and Guangxi Communications Investment Group signed a landing agreement on the “China Life Investment-Nanchong Railway Green Debt Investment Plan” with a contract size of 5 billion yuan. The successful signing of this project is an important measure for China Life to implement the concept of green development and support the construction of the “One Belt, One Road” initiative.
The “China-ASEAN Insurance Cooperation and Development Forum” is one of the important high-level forums within the framework of the China-ASEAN Expo. It has gradually become an important platform for deepening exchanges and cooperation in the insurance field between China, ASEAN and neighboring Asian countries and regions. The forum invited representatives from ASEAN countries, some countries along the “Belt and Road” and insurance regulatory agencies in Hong Kong and Macao to attend. Qin Rupei, a member of the Party Leadership Group of the People’s Government of the Guangxi Zhuang Autonomous Region, and Liu Fushou, chief risk officer of the State Administration of Financial Supervision, attended the forum and delivered speeches. Fang Haiyan, member of the Party Committee and Vice President of China Life Investment Company, attended the signing ceremony and delivered a keynote speech on the theme of the forum “Building a New Pattern of Open Cooperation in Insurance between China and ASEAN”.
Nanning-Chongzuo-Pingxiang Railway is Guangxi’s first self-built high-speed intercity railway(hereinafter referred to as the “Project”), byGuangxi Communications Investment Group(hereinafter referred to as “Guangxi Communications Investment”) investment and construction, in the future it can be connected with Hanoi-Vientiane-Bangkok-Kuala Lumpur-Singapore, forming an important international transportation channel from China to ASEAN.Improve the level of interconnection between Guangxi and Southeast Asia and other regions,Accelerate the construction of the new land-sea corridor in the westof great significance.
China Life Investment Company has given full play to its long-term and stable advantages in insurance funds and establishedChina Life Investment-Nanchong Railway Green Debt Investment Plan”, provided for this project5 billion yuanConstruction funds.The concept of green development was thoroughly implemented during the construction process of this project, and it will achieve annual carbon dioxide emission reductions after completion.15,000 tonssave standard coal7000 tons.
In recent years, China Life Investment Company has given full play to its advantages in insurance funds and established a long-term, in-depth and good cooperative relationship with Guangxi Communications Investment.China Life Investment-Guangxi Communications Investment Debt Investment Plan(Phase I,Phase II) provides financial support for Guangxi Communications Investment’s expressway projects. The signing of this agreement lays a good foundation for the two parties to further deepen cooperation.
About China Life Investment Company
Founded in 2007, China Life Investment Company is a professional alternative investment platform under China Life Insurance Company. It is the first licensed professional alternative insurance asset management company approved by the former China Banking and Insurance Regulatory Commission. Over the past 16 years, the company has resolutely implemented the decisions and arrangements of the Party Central Committee, served the overall development of the country, and adhered to the “Serve national strategy,Serving the real economy,Serving society and people’s livelihood”, giving full play to the core advantages of insurance funds in long-term investment, value investment, and stable investment, and comprehensively deploying alternative investment segments such as infrastructure, real estate, equity, inclusive finance, and special opportunities,Always be political,People’s character,Continuously improve professionalism, actively integrate the company’s high-quality development into the overall development of the party and the country’s undertakings, and contribute to the comprehensive construction of a modern socialist country.As of June 2023, China Life Investment Company’s cumulative contract signingsOver 730 billion yuanthe scale of assets under managementOver 470 billion yuanhas become the first large-scale insurance asset management company in China that focuses on alternative investments, and continues to lead the domestic alternative investment industry.
About Guangxi Communications Investment
Guangxi Communications Investment was established in 2008. It is a wholly state-owned enterprise directly under the People’s Government of the Autonomous Region. It is mainly responsible for the construction and development of highways and railways in Guangxi. It is an important investment and financing platform and state-owned asset management entity in the Autonomous Region.As the district-level state-owned enterprise with the largest net assets in the Guangxi Autonomous RegionGuangxi Communications Investment owns a toll road that has been opened to traffic51 items(part), the total mileage isOver 5,300 kilometersaccounting for approximately62%; Participate in the construction and operation of railways23 items,yesThe only railway investment and financing platform in the autonomous region, with obvious leading advantages in Guangxi region.As of the end of 2022, the company’s total assets629.5 billion yuan,Net assets214.7 billion yuanannual operating income67 billion yuan,The total profit2.2 billion yuan.
