Who is Selling as Tech Stocks Retreat? Insured Capital Reaffirms 'Long-Term Investment' and Refrains from Commenting on Short-Term Market Fluctuations

Recent pullbacks in China's A-share tech sector have sparked intense market debate. Recently, Liang Hong, founder of billion-yuan private equity giant Hainan Xisha, stated in his latest weekly report to fund holders that he learned certain insurance asset management giants bought tech stocks at peak levels in July but significantly reduced positions and cut losses by late September. 'Long-term capital that should serve as the market's ballast is instead fueling declines through short-term trading,' related discussions quickly spread through institutional circles. A senior executive from a leading insurance asset management firm told reporters that, supported by policy measures such as 30% of new premiums entering the market annually and reduced equity investment risk factors, the company steadily raises its equity allocation central tendency while continuously providing long-term, stable capital supply to the capital markets. Another unnamed securities analyst stated that while there were position reductions in insurance outsourced (public) funds at the end of Q3, the impact on the market was not as significant.