General Office of the China Banking and Insurance Regulatory Commission, Circular on Matters Relevant to the Investment of Insurance Capital in Publicly Offered Infrastructure Securities Investment Funds

Issued: November 10, 2021

Applicability: For the purposes of this Circular, the term "infrastructure fund" means a fund product that is established and publicly offered in accordance with relevant provisions of the State Council's securities regulator, that is managed by a qualified fund manager, that mainly invests in infrastructure asset-backed securities and that holds all of the equity of the infrastructure project company by means of the asset-backed securities (Article 1).

Main contents: An insurance group (holding) company or insurance company that invests in an infrastructure fund itself shall have immovable property investment management capabilities, the result of the assessment of its asset and liability management capabilities for the last year may not be less than 80 points and its comprehensive solvency ratio as at the end of the last quarter may not be less than 150%.