The Financial Supervisory Commission (FSC) issued the interpretative letter foritem 3 of paragraph 2 of article 5 of the Regulations Governing Use of Insurer's Funds in Special Projects, Public Utilities and Social Welfare Enterprises (the "Regulations"), Ref. No. Jin-Guan-Bao-Cai-Zi No. 10701944711 dated September 3, 2018. Relevant rules are explained as follows:

 

Insurer’s Funds invested in a domestic private equity fund, which is established by the subsidiary reinvested by a securities firm which acts as a general partner under the letter issued by the FSC dated June 1, 2018, Ref. No. Jin-Guan-Zheng-Quan-Zi No. 1070320901, to invest in one of the following items would be deemed as other investment targets meeting the requirements of the competent authority under item 3 of paragraph 2 of article 5 of the Regulations:

 

1. The investment in public services and utilities under Article 3 of the Regulations.

 

2.    The projects listed under paragraph 1 of the Letter (Ref. No. Jin-Guan-Bao-Cai-Zi No. 10610908021 dated March 21, 2017) issued by the FSC, referring to 7 projects: Green Energy Technologies, Asian Silicon Valley, Biotechnology, National Defense, Smart Machinery, New Agriculture and Circular Economy.