Recently, China Post Life Insurance Company Limited (China Post Insurance) has increased an investment of 2 billion yuan (about 280 million US dollars) in a new energy development company, the new energy development platform under the State Power Investment Corporation Limited (SPIC). This investment is another important act of China Post Insurance to actively respond to the national green development strategy, map out green finance and ESG (Environment, Social and Governance) investment, and contribute to the real economy.
SPIC is one of China's five major power groups and also the world's largest clean energy power generation enterprise. The new energy development company is a market-oriented platform built with priority by SPIC, which possesses good development space. The project is expected to become the largest financing project in the field of new energy private placement in China and the largest project of introducing strategic investment in mixed-ownership reform of central government enterprises this year.
In recent years, China Post Insurance has been accelerating its transformation and development, and giving full play to its own professional advantages and its capabilities of serving the real economy as a financial institute to actively support the high-quality development of the real economy. China Post Insurance's additional investment in the project will be conducive to further optimizing the corporate governance structure of the subject company and facilitating its long-term high-quality development. At the same time, it is also an effective act in implementing the national strategic goals of carbon peaking and carbon neutrality and practicing the philosophy of green investment.