Interpretation Order on Articles 2 and 7 of the Management Measures for Special Use of Insurance Industry Funds for Investment in Public and Social Welfare Enterprises

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Interpretation Order on Articles 2 and 7 of the Management Measures for Special Use of Insurance Industry Funds for Investment in Public and Social Welfare Enterprises

2026-06-16

Financial Supervisory Commission Order
Date of Issue: June 16, 2026 (Republic of China Year 115) Document Number: Jin Guan Bao Cai Zi No. 11504916972

1. This order is issued in accordance with Article 2, Paragraph 2, Item 2, and Article 7, Paragraph 1, Item 3 of the "Management Measures for Special Use of Insurance Industry Funds for Investment in Public and Social Welfare Enterprises" (hereinafter referred to as "these Measures").

2. The private equity funds referred to in Article 2, Paragraph 2, Item 2 of these Measures, which meet the conditions prescribed by the competent authority and have an investment scope aligned with government policy items, are limited to the following targets:
   (1) Domestic private equity funds established by a subsidiary of a securities investment trust enterprise approved by this Commission to use its own funds for investment, acting as the general partner.
   (2) Domestic private equity funds established by a subsidiary of a securities firm approved by this Commission for investment, acting as the general partner.
   (3) Domestic private equity funds that have obtained qualification letters in accordance with the "Guidelines for the Promotion and Management of Private Equity Fund Investment in Industries by the National Development Council."

3. For insurance companies conducting private equity fund investments as described in the preceding paragraph, the investment scope is limited to the following items:
   (1) Government-approved infrastructure as referred to in Article 2 of these Measures, public investment items listed in Article 3, and social welfare enterprises as referred to in Article 4.
   (2) The five-plus-two new innovative key industries approved by the government, as interpreted by this Commission's Order Jin Guan Bao Cai Zi No. 10610908021 dated March 21, 2017 (Republic of China Year 106), including green energy technology, Asia's Silicon Valley, biotechnology and pharmaceuticals, defense industry, smart machinery, new agriculture, and circular economy industries. (3) The six core strategic industries approved by the government, as interpreted by this Commission's Order Jin Guan Bao Cai Zi No. 11004365981 dated January 28, 2022 (Republic of China Year 111), including information and digital industries, cybersecurity excellence industries, Taiwan precision health industries, defense and strategic industries, green electricity and renewable energy industries, and livelihood and strategic reserve industries. (4) Enterprises whose main economic activities meet the sustainability recognition conditions prescribed in the "Reference Guidelines for the Recognition of Sustainable Economic Activities," as interpreted by this Commission's Order Jin Guan Bao Cai Zi No. 11404904512 dated March 26, 2025 (Republic of China Year 114), and other targets recognized by the competent authority of the relevant industry as having benefits in climate change adaptation, net-zero emissions, or sustainable transformation. (5) The five trusted industries approved by the government, as interpreted by this Commission's Order Jin Guan Bao Cai Zi No. 11504904221 dated February 12, 2026 (Republic of China Year 115), including the semiconductor industry, artificial intelligence industry, military industry, security control industry, and next-generation communication industry. (6) Industries that align with the "AI New Ten Major Construction Promotion Plan" and other promotion plans approved by the Executive Yuan, and are recognized by the competent authority of the relevant industry as encouraged for investment under these promotion plans, as interpreted by this Commission's Order Jin Guan Bao Cai Zi No. 11504916971 dated June 16, 2026 (Republic of China Year 115).

4. For insurance companies conducting private equity fund investments as described in Point 2, in accordance with Article 7, Paragraph 1, Item 3, Sub-item 2 of these Measures, the investment shall not exceed 25% of the total number of issued shares or the total paid-in capital of the private equity fund.

5. This order takes effect immediately; the Commission's Order Jin Guan Bao Cai Zi No. 11504904222 dated February 12, 2026 (Republic of China Year 115) is hereby repealed effective immediately.

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Last Updated: 2026-06-16

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