- Thirty-eight projects signed as long-term insurance money flows into manufacturing and infrastructure
- Deals span advanced industry, REITs and innovation insurance products tied to tech commercialization
Chinese insurance companies signed 38 cooperation projects in Jiangsu Province on June 16, committing a combined 182.3 billion yuan ($27 billion) in investments as China’s financial regulators deepen efforts to channel long-term capital into industrial upgrading.
The agreements were announced at a forum in Nanjing themed “Invest in Jiangsu, Win the Future.”
Provincial officials said insurance funds already deployed in the province had exceeded 500 billion yuan by 2025, undercoring the growing role of long-term capital in supporting industrial policy goals.
Aligning with provincial policy goals
Jiangsu governor Liu Xiaotao said the province will strengthen regular financing coordination mechanisms and guide insurers to align with its “1650” industrial ecosystem and participate in national infrastructure programs known as the “Six Networks.”
Meanwhile, provincial authorities will continue improving policy stability and exit channels for investors.
The “1650” framework refers to 16 advanced manufacturing clusters and 50 key industrial chains. The “Six Networks” cover water conservancy, next-generation power grids, computing infrastructure, telecom networks, urban underground pipelines and logistics systems.
The 38 signed projects on June 16 span public-private cooperation, inter-insurance collaboration, finance-enterprise partnerships and innovation insurance schemes.
Infrastructure, energy and deeptech
Eleven leading domestic insurers jointly issued an initiative at the forum to deepen investment in Jiangsu, calling for long-duration capital to support key industries and high-quality development.
PICC Capital, the venture arm of People’s Insurance Company of China, said it has already moved into Suzhou and Nanjing with investments spanning infrastructure restructuring and metro-linked REITs, and is now setting its sights on deep tech, new energy and healthcare.
China Life Insurance Company’s investment arm China Life Capital has signed a five-year pact with Jiangsu Guoxin Group to back energy and emerging industries.
Zking Insurance, a local player, said it had deployed more than 11 billion yuan within the province by end-2024, largely into advanced manufacturing, infrastructure and green development.
Other participants, including China Pacific Insurance asset management and Bank of China Insurance, signed deals involving new energy REITs and talent housing projects.
‘A natural fit’
Analysts said insurance capital, given its scale and long-dated liabilities, is structurally aligned with the financing needs of advanced manufacturing and technology upgrading, which require sustained investment horizons.
With interest rates declining at home and a shortage of high-quality assets, insurers are increasingly seeking long-duration investments that match liability profiles.
Analysts say the two sides are a natural fit, analysts said.
Dedicated project database
At the forum, Jiangsu’s financial authorities also unveiled a dedicated project database covering 807 initiatives with total planned investment of 1.23 trillion yuan across advanced manufacturing, innovation, green development, infrastructure and public services.
A separate “Jiangsu Sci-Tech Insurance” signing segment brought together four insurers offering tailored products.
These range from biotech and IP insurance to data rights coverage and robotics safety policies.
The coverage was signed with firms including robotics developer Estun Automation (埃斯顿自动化) and Chinese pharmaceutical firm Nanjing Tongrentang (同仁堂), aimed at mitigating risk from R&D through to commercialization across the tech lifecycle.
