Insurance Regulatory Commission prohibits investment in commercial residences

400 billion the formal policy of insurance to enter the real estate, but can not invest in commercial housing.　　Morning Post trainee reporter Mio than expected a few days later, 400 billion yuan insurance was officially put the gate into the real estate. Insurance funds real estate investment and corporate equity investment rules yesterday issued by the CIRC to prohibit insurance investment in commercial residential housing than expected a few days later, 400 billion yuan insurance was officially put the gate into the real estate.　　Yesterday, the CIRC announced the interim measures for the investment in real estate of insurance funds, allowing insurance funds of up to 4.1 trillion yuan at the end of last year to invest 10% in real estate, but it is expressly prohibited to develop or sell commercial residences, and is not allowed to engage in real estate development (including first level land development). On the same day, the door to the policy of entering unlisted companies was opened.　　According to the China Insurance Regulatory Commission issued yesterday, the "interim measures for the investment of capital and equity", the risk will only invest in the growth period or maturity of the enterprise equity, can not invest in venture capital funds.　　As a matter of fact, the interim measures for the administration of the use of insurance funds, referred to as "the Basic Law of risk capital Utilization", were issued on August 11. The fundamental Dafa "should have been formally implemented on August 31, but the" fundamental law "has not been fully implemented due to the delay in the introduction of the specific rules of investment in real estate and equity investment.　　The two measures announced yesterday provide a policy basis for the implementation of the "Fundamental Law". Do not sell the land in disguise is learned, the "policy threshold" for investment in real estate is that the asset Management department has not less than 8 professionals with real estate investment and related experience; At the end of last fiscal year and at the end of last quarter, the solvency adequacy ratio of insurance company is not less than 150%; profit in the previous fiscal year,　　NET assets of not less than 100 million yuan. If an insurance company hires an investment agency to provide a real estate investment Management Service, it may appropriately relax the requirement for professional quantity.　　However, an investment institution which provides investment management services for the investment of real estate for the risk capital shall satisfy the conditions that the registered capital shall not be less than 100 million yuan and the balance of management assets should not be less than 5 billion yuan. In addition to the Government Land Reserve project, the investment in real estate can be transferred by creditor's rights, transfer of rights to property or equity transfer. However, the investment in real estate is limited to commercial real estate, office real estate, and insurance business-related pension, medical, automotive services and other real estate and personal property.　　Investment in old-age, medical care, automotive services and other real estate, its supporting construction investment should not exceed 30% of the total amount invested in the project.　　The investment of real estate shall be subject to the principle of special purpose, not to sell the land in disguise, and shall not use the name of investment endowment and personal Property (project company) to develop and sell the dwelling in the way of commercial real estate. According to the provisions, the insurance companies to invest in real estate (excluding personal property) of the book balance, should be no higher than 10% of the total assets at the end of the quarter, investment in real estate-related financial products of the book balance, not higher than the end of the last quarter of the total assets of 3%; investment in real estate and real estate related financial products, the total amount of the balance is not higher than its lastProduced 10%.　　The carrying balance of a single real estate investment plan by the insured enterprise is no higher than 50% of the scale of the plan's distribution, and the investment in other real estate related financial products is no higher than 20% of the product's distribution scale. Cannot establish the real estate development company insurance funds investment real estate, should reasonably arrange holds the real estate the way, the kind and the time limit. Real estate invested in the form of creditor's right, equity or property shall not be less than 15 and shall not be transferable within 5 years from the date of the signing of the investment agreement.　　An insurance company shall transfer its own immovable property, or entrust an investment institution to establish or issue a real estate-related financial product on the basis of its holdings of immovable property.　　An insurance company may not invest in immovable property by providing unsecured debt financing, or by providing collateral for the investment of immovable property, or by investing in the development or sale of commercial housing, or directly in the development of real estate (including first-level land development). The CIRC also requires that insurance funds not invest in the establishment of real estate development companies, can not invest in unlisted real estate Enterprise Equity (except the project company), or to invest in the stock way to hold real estate enterprises.　　If an investment has been made or has been held in a real estate enterprise, it shall be revoked or transferred out. In addition, insurance companies can not use loans, debt issuance, repurchase, borrowing and other means of financing investment in real estate.