On May 25th, the launch ceremony for the Guangdong Provincial Strategic Emerging Industries Investment Guidance Fund was held in Guangzhou. Huang Kunming, Secretary of the Guangdong Provincial Party Committee, and Meng Fanli, Deputy Secretary and Governor of the province, attended the ceremony and unveiled the fund. This marks Guangdong's first perpetual, corporate-structured provincial-level government investment fund, targeting a registered scale of 100 billion yuan and based in Tianhe District, Guangzhou. It is set to become a unified provincial platform for "patient capital."
Cai Xiliang, Party Secretary and Chairman of China Life Insurance (Group) Company, was invited to attend the launch event.
"Guangdong, as a leading economic province and a powerhouse in manufacturing, launching a 100-billion-yuan strategic emerging industries guidance fund will pool 'patient capital' from broader sources and at a greater scale. This will foster the growth of strategic emerging industries, empower and accelerate the development of new quality productive forces, and help shape a new, integrated landscape where 'science and technology-industry-finance' in Guangdong are closely coupled and mutually reinforcing," stated Cai Xiliang during the ceremony.
Cai Xiliang noted that as the largest state-owned insurance group in China, China Life's business spans insurance, investment, and banking. Its investment scale in Guangdong currently exceeds 810 billion yuan, with outstanding loan balances surpassing 1.1 trillion yuan. The group will enhance overall coordination and collaborative engagement among its Guangdong-based institutions, actively promote the "introduction of insurance capital into Guangdong" through multiple channels, and leverage its multi-license service advantages in insurance, investment, and banking. This aims to provide more precisely tailored, comprehensive financial solutions—encompassing equity, debt, loans, insurance, and guarantees—for major projects.
Cai Xiliang revealed that China Life Investment Company, which is part of the initial batch of partners collaborating with the Guangdong Provincial Strategic Emerging Industries Investment Guidance Fund, is an asset management company under the China Life Group specializing in alternative investments. It has already conducted extensive exploration and practical implementation in serving the development of strategic emerging industries and using finance to empower the modernization and upgrading of industrial chains. Previously, the China Life Investment team has engaged in multiple rounds of in-depth discussions with the Guangdong fund, and a plan to jointly establish an industrial development fund has been largely finalized. The next step will be to expedite its implementation, aiming to create a model example of cooperation between government guidance funds and insurance capital.