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The People's Bank of China, the State Administration of Foreign Exchange, and the China Securities Regulatory Commission have introduced new financial measures, proposing to allocate 60 billion yuan of insurance funds to the long-term investment pilot program. China Life Asset Management is diligently pursuing qualification for the third phase of this program, with the objective of stabilizing the market and nurturing long-term capital through the Honghu Fund. Additionally, the risk factor associated with stock investments has been lowered by 10%, aiming to minimize the risk capital utilization of insurance companies' equity assets. This move is anticipated to foster greater investment in high-growth sectors and further enhance capital market liquidity.
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