In the next step, the China Securities Regulatory Commission will work with the China Banking and Insurance Regulatory Commission and other relevant parties to encourage qualified insurance asset management companies to actively carry out ABS and REITs business in accordance with the principle of equal emphasis on development and regulation, and promote other types of high-quality financial institutions to serve as ABS managers and smooth infrastructure. Channels for assets to enter the market.
In order to implement the spirit of the 20th National Congress of the Communist Party of China and the Central Economic Work Conference, in accordance with the “Opinions of the General Office of the State Council on Further Revitalizing Stock Assets and Expanding Effective Investment” to deploy and accelerate the relevant work arrangements for the normalization of infrastructure REITs issuance, the China Securities Regulatory Commission guides securities transactions The “Guidelines for Asset Securitization Business of Insurance Asset Management Companies” (hereinafter referred to as “Business Guidelines”) formulated by theHigh-quality insurance asset management companies with sound corporate governance, standardized internal control management, and rich asset management experience participate in asset securitization (ABS) and real estate investment trust (REITs) businesses, further enriching the form of participating institutions,Focus on promoting multi-levelREITsHigh-quality development of the market.
The “Business Guidelines” adheres to the principles of systematic thinking, market concepts, and pilot projects first, and clarifiesInstitutional arrangements for insurance asset management companies to apply for ABS and REITs business.One isApplication conditions.RequireAn insurance asset management company carrying out ABS business shall have sound governance, complete business systems, adequate department and personnel allocation, and strong asset management capabilities. Qualified insurance asset management companies can carry out REITs business according to regulations.two isApplication Procedures. Insurance asset management companies can simultaneously submit application documents to the Shanghai and Shenzhen stock exchanges, and the stock exchanges will carry out evaluation work in accordance with relevant rules and the provisions of the “Business Guidelines”.three isSelf-regulation. The stock exchange implements self-regulatory supervision on the ABS and REITs business of insurance asset management companies, and conducts business inspections according to regulatory needs.
In the next step, the China Securities Regulatory Commission will work with the China Banking and Insurance Regulatory Commission and other relevant parties to encourage qualified insurance asset management companies to actively developABS and REITs businesspromote other types of high-quality financial institutions to act as ABS managers,Unimpeded channels for infrastructure assets to enter the market,Promote the formation of a virtuous circle of stock assets and new investment, and strengthen market supervisionļ¼Maintain a good market ecologypromote the promotion of exchange bondsThe quality and efficiency of the bond market serving the real economyć
Source of this article: China Securities Regulatory Commission, original title: “China Securities Regulatory Commission Instructs Stock Exchanges to Issue Guidelines to Support Insurance Asset Management Companies to Develop Asset Securitization and REITs Business”
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