After the three quarter war, James made 14 of 24 shots, made 3 of 6 three-point shots and scored 40 points and 6 rebounds.

This is the 26th time James has scored more than 30 points this season, setting a record since joining in 2018-19.

James has averaged 29 points this season, unlike a 37 year old veteran. He scored 43 points in the highest game and 39 points in two more games.

Last season, James scored more than 30 points only nine times, but he scored 46 points in the highest game.

In the season of winning the championship, he scored more than 30 points 21 times, and the highest game also had 40 points.

In the 2018-19 season, he scored more than 30 points 15 times and scored 51 points in the highest game.

James scored 40 + for the second time this season. James went off to rest before the end of the third quarter. The Lakers are still behind the warriors, and the situation is not very good. (Angkor)

Insurance funds expand PE investment territory and go to the next city.

Recently, China Life Insurance Co., Ltd. newly invested in Wuxi Guoshou Chengda equity investment center (limited partnership).

Statistics show that Wuxi Guoshou Chengda equity investment center (limited partnership) was established on February 25 this year. The executive partner is Guoshou Chengda (Shanghai) health care equity investment management Co., Ltd., and its business scope includes private equity investment, investment management, asset management, etc.

In the view of a partner of a large domestic equity investment institution, this is also an epitome of the continued overweight of insurance funds in equity investment in recent years.

It is worth noting that at the end of last year, the China Banking and Insurance Regulatory Commission issued the notice of the China Banking and Insurance Regulatory Commission on amending some normative documents in the field of insurance fund application (hereinafter referred to as “document 47”), which not only abolished the previous limit that the raising scale of a single fund invested by insurance funds in venture capital funds should not exceed 500 million yuan, Insurance funds are also allowed to invest in equity investment funds actually controlled by non insurance financial institutions, providing new policy support for insurance funds to expand the scope of equity investment.

A director of the equity investment department of an insurance company told reporters that since this year, they have been in close communication with a number of industry leaders PE / VC institutions, which actively invite insurance companies to invest in their new PE / VC products.

“At present, we maintain a relatively cautious investment strategy.” He spoke bluntly. The reasons are as follows: first, insurance companies need to comprehensively evaluate whether these PE / VC funds are in line with the business development plan of insurance companies, that is, equity investment is complementary to the main business of insurance. At present, his insurance company is more inclined to invest in venture capital institutions focusing on New drug research and development, AI diagnosis and treatment, Internet hospitals, biotechnology and other fields; Second, insurance companies will carefully check whether equity investment funds comply with relevant regulations. For example, the Interim Measures for equity investment of insurance funds (hereinafter referred to as “document 79”) stipulates that equity investment funds invested by insurance companies require the latter to have determined investment objectives, investment plans, investment strategies, investment standards, investment processes, follow-up management Income distribution and fund liquidation arrangements also make the due diligence and investment decision-making process of insurance companies relatively long.

The above-mentioned partners of large domestic equity investment institutions pointed out to reporters that the current domestic equity investment market still lacks “long-term investment funds”. If more insurance funds can actively participate in equity investment, it can not only guide more long-term funds to flow into domestic high-tech industry investment, help China’s industrial iterative upgrading, but also promote the “institutionalization” of fund-raising in the field of private equity investment, Boost the sound development of the venture capital industry.

Insurance institutions “two pronged” overweight equity investment

According to the filing information of the fund industry association, incomplete statistics show that up to now, there are about 18 private fund managers initiated by insurance institutions, of which some insurance groups have initiated the establishment of two private fund managers, such as China Life Insurance launched Guoshou equity investment company and Guoshou Jinshi asset management company; Ping An Group created Ping An chuangying capital management company and Ping An basic industry investment fund management company; Taikang Insurance has established Beijing Taikang investment management company and Taikang health industry fund management company.

At present, these insurance private equity fund managers have established a total of 105 private equity funds.

“A lot of private equity investment is based on private equity, and many of them are based on private equity.” A person in charge of the asset allocation Department of an insurance asset management institution told reporters. The reason is that the equity investment of insurance companies in enterprise projects needs to be approved before, and the insurance companies need to weigh the matching between the assessment mechanism and the project investment cycle, so it is relatively safe to adopt the investment mode of “one project and one fund”.

It is worth noting that among 105 insurance private equity funds, 24 products have been liquidated.

He told reporters that behind this is the completion of the listing or M & A exit of the single projects invested in these fund products, which promotes the liquidation of relevant fund products.

In recent years, with relevant policies encouraging insurance funds to participate in equity investment, many insurance companies not only independently initiated private institutions to create PE products, but also increased equity investment in third-party PE products.

A founder of an equity investment fund funded by an insurance company told reporters that the biggest advantage of winning the LP contribution of the insurance company is that the existence and investment period of PE fund is relatively long. Even if the short-term economic cycle fluctuates greatly, PE fund can realize relatively stable investment return through cross cycle investment.

“Therefore, we rarely invest in high valuation pre IPO mid and late stage projects, but invest most of our funds in high-tech enterprises in the growth stage.” He said. In the actual operation process, to do this work well, we still need to do a lot of “balance” - for example, some insurance companies need to take into account the matching between the assessment mechanism and the investment cycle, and also suggest to invest in some mid and late projects that can be listed as soon as possible to achieve a higher DPI (cash return); In addition, individual insurance companies pay special attention to the investment safety of insurance funds, and there is an investment operation of “clear shares and real debts” in individual projects.

“At present, the biggest challenge for us is that the insurance company requires the investment direction of PE Institutions to complement the main business of the insurance company. It is suggested that we increase the equity investment in AI medical treatment, Internet health management, new drug research and development, and we have to adjust the investment strategy.” The founder of the equity investment fund spoke bluntly. If relevant departments can further relax the industry restrictions and amount ceiling of equity investment with insurance funds and continuously improve the risk tolerance of insurance companies, it will undoubtedly promote venture capital institutions to carry out investment more flexibly and realize higher economic effect and social value of equity investment with insurance funds.

Venture capital involved in early project equity investment “many challenges”

Many people from venture capital institutions said frankly that it is still difficult to attract insurance funds and increase investment in venture capital funds and early projects.

“After the No. 47 document cancels the limit that the raising scale of a single fund of insurance capital investment venture capital fund shall not exceed 500 million yuan, I

“Zhijin sand pottery” needs more than 70 pure manual processes from raw material processing to finished products. Due to the impact of modern cooking utensils, as well as the complex production process and single product, the “Zhijin sand pottery” in Bijie City, Guizhou Province was once on the verge of loss. In recent years, the artists of “Zhijin sand pottery” in Zhijin County aim at the modern consumer market. In addition to producing traditional casseroles, tripod pots, ladle pots, convex bottom soldering pots, flat bottom soldering pots and other products, they also continue to innovate and improve, launch a number of sand pottery crafts into the market, which are favored by consumers and exported to the United States, France, Japan and Southeast Asian countries. At present, Zhijin County, Guizhou Province can sell 300000 pieces of sand pottery products every year, with a sales volume of more than 10 million yuan. While the intangible cultural heritage technology radiates new vitality, it effectively drives the development of local economy and society.

On October 9, workers of Yisha pottery factory in Zhijin County, Bijie City, Guizhou Province were sorting out semi-finished sand pottery products. Issued by Xinhua News Agency (photographed by Wang Chunliang)

On October 9, workers of a sand pottery factory in Zhijin County, Bijie City, Guizhou Province were making sand pottery products. Issued by Xinhua News Agency (photographed by Wang Chunliang)

On October 9, workers of a sand pottery factory in Zhijin County, Bijie City, Guizhou Province were making sand pottery products. Issued by Xinhua News Agency (photographed by Wang Chunliang)

On October 9, workers of a sand pottery factory in Zhijin County, Bijie City, Guizhou Province were making sand pottery products. Issued by Xinhua News Agency (photographed by Wang Chunliang)

The sand pottery products being fired were photographed in Yisha pottery products factory, Zhijin County, Bijie City, Guizhou Province on October 9. Issued by Xinhua News Agency (photographed by Wang Chunliang)

On October 9, workers of a sand pottery factory in Zhijin County, Bijie City, Guizhou Province were making sand pottery products. Issued by Xinhua News Agency (photographed by Wang Chunliang)

On October 9, workers of a sand pottery factory in Zhijin County, Bijie City, Guizhou Province were making sand pottery products. Issued by Xinhua News Agency (photographed by Wang Chunliang)