China Life actively practices the concept of ESG development. Moving forward in pursuit of green, integrating environmental, social and governance (ESG) concepts into operations, investment, management and services, focusing on major national strategies, giving full play to the advantages of long-term cyclical insurance funds and risk management, and promoting industrial development and serving Chinese-style modernization; Upgrade green finance actions and create a green and environmentally friendly insurance service ecology through low-carbon technology innovation.
* The Financial Work Conference emphasized that finance is the blood of the national economy and an important part of the country's core competitiveness. China Life has always closely followed the national strategy, carried out investment work in key areas such as advanced manufacturing, strategic emerging industries, and new energy, and gave full play to the long-term stable role of insurance funds, so as to promote the implementation of the national "dual carbon" goal and high-quality economic development.
In the past two years, China Life has made achievements in the fields of water conservancy infrastructure, ecological environment industry and green infrastructure upgrading, and clean energy. In 2023, China Life will invest 4500 million yuan invested in the "Guohua Xingyi-Yellow River Water to East Diversion Infrastructure Debt Investment Plan", in the same year, the company invested 400 million yuan in the "Guohua Xingyi-Beijing Liulihe Infrastructure Green Debt Investment Plan" In 2022, China Life invested 100 million yuan to subscribe to the "Chinese Life-State Power Investment Clean Energy Equity Investment Plan".
As of the end of the third quarter of 2023, China Life has invested a total of 950.2 billion yuan, trust plan 181.3 billion yuan, real estate claims plan 50.1 billion and infrastructure debt plan 135 billion yuan, unlisted equity investment**74.7 billion yuan, equity investment plan 10.2 billion yuan. The credit bond investment covers infrastructure, comprehensive, transportation, chemical and other industries, and provides bond financing support for 118 entities in 19 provinces and 74 cities. The real estate creditor's rights plan and trust plan cover coal mining, non-ferrous metals, infrastructure construction, comprehensive and other industries, and provide debt financing support for 20 entities in 13 provinces and 15 cities. Actively contribute to the healthy and steady development of the real economy.
In addition, China Life has also indirectly invested in a large number of small and micro enterprises in the fields of medical and health, scientific and technological innovation and new energy, and continued to increase investment in high-end manufacturing, low-carbon and environmental protection, contributing to the construction of an innovative country.
China Life said that it has incorporated financial support for major national strategies into the company's overall performance appraisal system as a social responsibility indicator, and has established an organizational leadership mechanism for the implementation of green finance, clarifying the working mechanism for the board of directors to assume the main responsibility, senior management to lead, head office to take the lead, and branches to cooperate, so as to effectively promote the implementation of the green finance strategy.
In terms of products and insurance services, China Life focused on its core business advantages and strengthened product and service innovation in accordance with local conditions. Since 2020, China Life has developed 7 pension insurance products and nearly 20 critical illness insurances. Nearly 20 special medical insurance products; It has met the diversified needs of the people, and completed the development of women-specific disease insurance and children's disease insurance, providing targeted risk protection for women and children.
In terms of customer service, China Life has accelerated its own digitalization process, empowered the industry through technological innovation, continued to explore and promote the innovation and reform of service models, and built a multi-dimensional service platform to enable customers to enjoy services without leaving home, and promoted the upgrading of warm-hearted services.
China Life, which adheres to its original intention and bravely assumes responsibility, has also won wide recognition from the outside world. On December 6, China Life won the "ESG Finance Pioneer of the Year" award sponsored by National Business Daily for its outstanding performance in the field of ESG finance.
China Life said that it will adhere to the concept of "sticking to its original mission, deepening reform and innovation, and striving to achieve high-quality development in the new pattern of service", actively implement national strategies such as "Healthy China", "Construction of the Third Pillar of Elderly Care" and "Rural Revitalization", and use the power of science and technology to return to the source of protection and practice social responsibility.
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