On August 27, at the 2026 interim results conference, New China Life Insurance Company Ltd. (601336.SH) President and Chief Financial Officer Gong Xingfeng addressed the newly issued "Measures for the Management of Assets and Liabilities of Insurance Companies" by regulators. He noted that the new rules impose higher, more comprehensive, and more stringent requirements across governance structures, management mechanisms, and indicator constraint systems. He acknowledged that the company still has areas to improve in response to these new demands, with impacts reflected in three key aspects.

The first impact is strengthening the governance foundation. The new rules further reinforce the responsibilities of the board of directors and senior management, requiring the company to enhance macro-level coordinated and professional management of asset-liability operations. This includes better integration between asset and liability sides, tighter capital management, and improved business planning to achieve sound asset-liability management.

The second impact is deepening refined management. The new rules provide detailed guidelines for organizational structure, indicator development, and risk management from both qualitative and quantitative perspectives. These directives help the company embed asset-liability management principles throughout the entire chain, including product development, business planning, asset allocation, and capital management, thereby boosting its operational resilience during interest rate and market fluctuations.

The third impact is enabling more scientific decision-making. The new rules set explicit requirements for enhancing stress testing, strengthening retrospective analysis, and improving informatization levels. This provides the company with a better decision-making foundation, enhancing the scientific and forward-looking nature of its strategy formulation, operational decisions, and risk assessment processes.

Looking ahead, Gong stated that the company will systematically identify and address its weaknesses and shortcomings, focusing on optimizing governance structures, improving process efficiency, and upgrading business systems. These efforts aim to build a more robust asset-liability management framework, implement detailed and practical asset-liability management practices, and further elevate the company's overall management standards.