Cao Deyun: Insurance asset management faces strategic opportunity in China's 15th Five-Year Plan
At the 2026 Financial Institutions Annual Conference, former Insurance Asset Management Association of China head Cao Deyun stated the industry faces a strategic opportunity and reform breakthrough period during China's 15th Five-Year Plan (2026-2030). He outlined new missions including acting as patient capital for national strategies, mature institutional investors for capital market stability, core support for the insurance business, and preventing cross-market risks. Cao identified opportunities from policy dividends, new productive forces, pension system expansion, industry restructuring, and opening-up, while calling for long-term performance assessments and differentiated development.
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Insurance Asset Management Industry Faces New Mission and Opportunities in 15th Five-Year Plan Period
In a speech at the 2026 Financial Institutions Annual Conference hosted by Securities Times, Cao Deyun, former executive vice president and secretary-general of the China Insurance Asset Management Association, stated that during the 15th Five-Year Plan period (2026-2030), the insurance asset management industry will shoulder a new mission: to serve as patient capital supporting national strategies, to act as mature institutional investors for the healthy and stable operation of capital markets, and to be the core supporting force for the high-quality development of the insurance industry. Cao identified five strategic opportunities: policy dividends, new quality productive forces creating long-term asset supply, expansion of the multi-tiered pension system, restructuring of the broader asset management industry, and high-level opening-up. He emphasized that the industry must shift from short-term performance orientation to long-term performance assessment mechanisms, encourage differentiated development among institutions, and cultivate globally competitive leading firms. The period is described as both a golden opportunity and a critical reform period for the industry.
Read sourceFormer Insurance Asset Management Official Says Industry Has New Mission in 15th Five-Year Plan Period
In a speech at the 2026 Financial Institutions Annual Conference hosted by Securities Times, Cao Deyun, former Executive Vice President and Secretary-General of the China Insurance Asset Management Association, stated that during the '15th Five-Year Plan' period (2026-2030), the insurance asset management industry faces a new mission. This includes acting as patient capital to support national strategies, being mature institutional investors for stable capital markets, and serving as core support for the high-quality development of the insurance industry. Cao identified strategic opportunities from policy reforms, the growth of new productive forces, the expansion of multi-tiered pension systems, the reshaping of the asset management landscape, and increased opening-up. He emphasized the need for long-term performance assessment mechanisms, differentiated development among institutions, and cultivating globally competitive leading firms. The industry is seen as entering a golden era of opportunity but also a period of critical reform.
Read sourceCao Deyun Outlines Strategic Opportunities for Insurance Asset Management in China's 15th Five-Year Plan
In a keynote speech at the 2026 Financial Institutions Annual Conference, Cao Deyun, former senior official of the Insurance Asset Management Association of China, presented a vision for the insurance asset management industry during China's 15th Five-Year Plan period (2026-2030). He stated that the industry faces new requirements, including serving the real economy, expanding patient capital, and promoting digital transformation. Cao identified four new missions: acting as patient capital for national strategies, as mature institutional investors for capital market stability, as core support for the insurance main business, and as a key defense line against cross-market financial risks. He argued the industry is entering a strategic opportunity period driven by policy dividends, the development of new quality productive forces, the expansion of the multi-tiered pension system, and the reshaping of the asset management landscape. Cao emphasized that these factors will provide unprecedented development space and high-quality long-term assets for insurance asset managers.
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Cao Deyun: Insurance Asset Management Faces Strategic Opportunity and Reform Breakthrough in 15th Five-Year Plan
In a speech at the '2026 Financial Institutions Annual Conference and Insurance Industry Asset-Liability Management Annual Conference' hosted by Securities Times, Cao Deyun, former head of the Insurance Asset Management Association of China, outlined the outlook for the insurance asset management industry during China's '15th Five-Year Plan' period (2026-2030). He stated that the industry faces a strategic opportunity period and a reform breakthrough period. Cao emphasized that the industry must embrace new financial reform requirements, find a new positioning, and solve development pain points to achieve high-quality development. He outlined four new missions: serving national strategies with patient capital, acting as a mature institutional investor for capital market stability, supporting the core insurance business through asset-liability management, and preventing cross-market financial risks. Cao highlighted opportunities from policy reforms, the development of new productive forces (e.g., tech, green energy), the expansion of the multi-tiered pension system, the reshaping of the asset management industry, and high-level opening-up. He also acknowledged challenges such as persistent low interest rates and difficult asset allocation. To achieve breakthroughs, he called for reforms in institutional mechanisms, capacity building (e.g., asset allocation, risk control), business models, risk prevention, and industry ecology, including adopting long-term performance evaluation mechanisms and improving corporate governance.
Cao Deyun Outlines Vision for Insurance Asset Management During China's 15th Five-Year Plan
In a speech at the 2026 Financial Institutions Annual Conference, Cao Deyun, former head of the Insurance Asset Management Association of China, presented a detailed outlook for the insurance asset management industry during China's 15th Five-Year Plan period (2026-2030). He characterized this period as a strategic window of opportunity and a time for reform breakthroughs. Cao outlined five new requirements for the financial sector from the 15th Five-Year Plan, including serving the real economy, nurturing patient capital, balancing development with security, strengthening financial services for people's livelihoods, and promoting digital transformation and institutional opening. He defined five new missions for insurance asset management: acting as patient capital for national strategies, being a mature institutional investor for capital market stability, supporting the core insurance business, and preventing cross-market financial risks. Cao identified five areas of opportunity: policy dividends, new quality productive forces creating long-term assets, the expansion of multi-tiered pension systems, restructuring of the asset management industry, and high-level opening up. He also acknowledged challenges such as persistent low interest rates and difficult asset allocation. To achieve reform breakthroughs, Cao called for changes in five dimensions: institutional mechanisms, capability building, business models, risk control, and industry ecology, emphasizing long-term performance assessment, improved corporate governance, and differentiated competition among institutions.
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