January 29, 2018, insurance funds to implement the national insurance regulatory work conference was held in Xiamen special training。China Insurance Regulatory Commission Vice Chairman Chen Wenhui attended the meeting and made a keynote counseling report。  Joe Chan pointed out that in 2017, China Insurance Regulatory Commission to Xi Jinping, the new era of socialist ideology with Chinese characteristics as guidance, thoroughly implement the spirit of the party of nineteen and national financial work conference, the Central Economic Work Conference, thoroughly eliminate the pernicious influence Xiang Junbo to "1 +4 "series documents the total handle, focus on governance chaos, anti-risk, make up the short board and serve the real economy, firmly hold the bottom line does not occur systemic risk。Currently, the insurance industry has shown positive changes in the development of high-quality。First, the insurance industry steady for the better。In mid-2017 to provide risk protection 4154000000000000 yuan for the whole society。Annual premium income of 3.66 trillion yuan, an increase of 18.2%。Business structure optimization, to further enhance the security function, down 16 universal insurance accounting year.9 points。Second, the insurance capital allocation more diverse, more rational structure, steady growth in investment income, investment operations more robust prudential。Third, the incremental risk insurance has been effectively curbed, the risk of being safe disposal of stock。Radical operations, aggressive investment chaos effective control。Fourth, insurance services national strategies and efforts continue to increase the real economy。The insurance capital to participate in market-based debt, mixed ownership reform, nuclear power, and other large aircraft project, the better-performing, positive evaluation by society。Fifth, to reshape our regulatory work has made positive progress。  Joe Chan stressed, at the same time to see the positive changes in the industry, must deeply reflect on the past period of radical individual industry company problems, insurance agencies should be systematically summarizes, in-depth analysis, giving top priority to fully learn the lessons from our mistakes。Specifically include the following ten aspects: Individual complex shareholding structure and corporate governance failures, above the top of the actual controller of corporate governance and internal control; individual companies and shareholders in the capital is not real money, the actual controller misappropriation of insurance funds occupation, self capital injection, recycling, inflated capital; some companies militant operations and high risk appetite, the insurance company alienated financing platform, from the insurance function; some companies asset-liability management philosophy missing; some companies associated illegal trade and transfer of benefits ; individual companies irrational placards and big cross-border mergers and acquisitions; some companies will invest in insurance funds layers of nested product, zoom lever, forming a pool of funds, the underlying assets is unclear, vague specific invest; and some financial investment and holding company a clear understanding of the investment, regardless of the law of insurance funds for the realization of the right to control at any cost, no matter the cost; some indifferent company law compliance awareness, fight "policy edge ball" or even illegal investment; some companies distort assessment and incentives。  Joe Chan stressed that the current insurance industry entered a new era, is facing an unprecedented favorable external environment, but also face serious risks and challenges, while confidence shall further enhance the sense of thinking and the bottom line, firmly to prevent risks in the first place。First, the CPC Central Committee for the insurance industry and insurance funds pointed out the direction, to a deep understanding of the system requirements of the CPC Central Committee on the financial work, back to basics, to serve the needs of economic and social development; identify the direction, from the national strategic situation; Wenzhongqiujin , to prevent risks in the first place; deepen reform, efforts to dredge the channels and reduce costs; regulatory authorities should selves, responsible for defending their territories, defending their territories due diligence; to strengthen the centralized and unified leadership of the Party financial work。Second, the current domestic and international macro-economy stable and good, the overall improvement in the external environment for development。Third, the insurance industry is facing restructuring and development opportunities in China's economic transition from high growth stage of development of high-quality, functions and role of risk management in the insurance business will further highlight。The fourth is to focus attention and company liquidity risk, highlighting the risk of credit risk, the risk of local debt, asset-liability mismatch risk, etc., must be a consistent good risk prevention work。  Joe Chan stressed that the basic law of the coming period, insurance funds and should follow the principles include: First, we must improve the political stance。Adhere to the centralized and unified leadership of the Central Committee; adhere to the people-centered development ideas; adhere to the "regulatory surname prison," the basic philosophy; adhere to the "surname insurance protection," the direction of development。The second is to firmly establish compliance awareness of law。National legal and regulatory system is the red line, and never allow so-called "special" company, the bottom line of any legal mechanism to challenge authority and supervision, should pay the price repentant。Third, we should adhere to the main business of insurance service。Unswervingly to the main business of insurance services as an insurance funds development goals, security is a fundamental function, investment is accessibility, not cart before the horse。The fourth is to strengthen the asset-liability management concepts。To "insurance asset liability management regulatory approach" and five regulatory rules as an important starting point, make substantial progress in terms of philosophy, organizational, technical, regulatory, enhance the insurance industry is responsible for asset management ability and level。The fifth is to grasp the direction of serving the real economy and national strategies。Focus on supply-side structural reforms, straighten and broaden the channels of insurance funds to support a major national strategy, and actively explore the insurance capital to participate in agriculture support small, inclusive finance and rural revitalization strategy to address the problem of inadequate financial services unbalanced。Sixth, the use of systems and mechanisms to hold the bottom line risk。This is the essence of risk prevention。Seven is to persist in reform and innovation。Reform and innovation is the impetus for the development of the insurance industry, but from the real economy, to avoid regulation of false innovation, pseudo-innovation, will be resolutely ban。Eight is to nurture a prudent investment culture。Investment targets should be fixed income products, equity and other non-fixed-income products, supplemented; equity investment should be the main financial investment, strategic investment, supplemented; even if strategic investment, it should be equity-based。Nine is to adhere to the code of conduct of value investing。We must adhere to long-term investment, value investing and diversification。Ten is to strengthen the capacity building funds。Establish and improve asset-liability management and asset allocation categories ability to enhance specific areas of investment expertise investment capabilities。  Joe Chan stressed that the current and future period, supervision of insurance funds to be Xi Jinping, the new era of socialist ideology with Chinese characteristics as guidance, comprehensively implement the nineteen large, national financial work conference and the Central Economic Work Conference party, in accordance with national insurance regulatory work conference deployment, around the "three tough fight" and "three major tasks", continue to implement the "4 + 1" series documents the total handle, and promote the development of high-quality insurance funds。First, reshape the image of the industry, the whole industry to completely eliminate the pernicious influence Xiang Junbo to the case as a warning to cure the case, with practical actions to reshape the image of the insurance industry。Second, strict supervision, and resolutely stop the illegal market chaos, adhere to the "strict putting the word" strict regulation, from fast processing, severely accountability, and agency executives insist the double penalty。Third, continue to prevent the key risk areas and strengthen supervision。Strengthen the overseas investment regulations; warranty credit behavior within specifications; enhanced asset-liability management supervision, based on the assessment results, to carry out the classification regulation and differences in regulation; strengthening the investment capacity license management; and guard against insurance institutions illegal or disguised to local government financing; continue to promote information disclosure regulation and supervision of internal controls。Fourth, to actively guide the insurance funds serving the real economy, docking national strategy。Promote Chinese insurance investment fund set up special fund service national strategy, steadily supporting agriculture support small pilot financing from the investment side support commercial insurance pension products, personal tax extension of old-age insurance product development。Fifth, steadily insurance funds reform and innovation, to support the insurance funds use financial derivatives to hedge and manage risk government bonds and futures; study of insurance capital to participate in long-term lease apartments and other areas; research to advance the insurance asset securitization business development; further enhance the insurance asset management products filing and registration efficiency, and promote equity investment registration system reform plan。Sixth, better play an active role in territorial supervision, associations, registration PICC insurance asset trading system and China Insurance Co., Ltd. and other investment funds。Seventh, strengthen infrastructure construction。Improve and perfect the supervision system, enrich the regulatory tools to improve the level of regulatory information。  At the meeting, from China Ping An Insurance (Group) Co., Ltd., China People's Insurance Company, China Life Asset Management Co., Ltd., Changjiang Pension Company Limited, PICC Investment Corporation responsible person made the exchange floor。  Relevant departments of China Insurance Regulatory Commission, Insurance Regulatory Commission part, PICC Investment Co., Ltd., Shanghai Stock Exchange Insurance Company Limited, PICC Insurance Asset Register Trading System Co., Ltd., China Insurance Association, Insurance Institute of China, China Insurance Asset Management Association, each insurance group, insurance companies and insurance asset management companies primarily responsible for attending the meeting。