The Guangdong Financial Regulatory Bureau has issued the "Guiding Opinions on Supporting the High-Quality Development of the Province’s Insurance Industry to Help Guangdong Take the Lead in China’s Modernization," which proposes fostering patient capital and promoting a virtuous cycle of funds, capital, and assets. The bureau will encourage insurance companies to establish private securities investment funds in Guangdong and launch pilot programs for the long-term investment of insurance funds. Leveraging the advantages of insurance funds—namely their long investment horizons and high stability—the bureau will increase investment in Guangdong’s integrated circuit, artificial intelligence, low-altitude economy, and biopharmaceutical sectors to drive technological innovation and industrial restructuring. It will also support insurance companies in establishing reinsurance companies or reinsurance operation centers in Guangdong to accelerate the enhancement of the province’s reinsurance service capabilities.