The State Financial Supervision and Administration Bureau issued a notice on strengthening the supervision of universal life insurance. Insurance companies should formulate scientific and reasonable investment strategies based on the attributes and characteristics of universal insurance accounts, standardize investment behaviors, strictly control the investment proportion of major asset classes, actively control the investment concentration ratio of single industries, single products and single counterparties, effectively manage related risk exposures, and ensure that they are within their own risk tolerance. The use of universal insurance funds shall comply with the following provisions: 1. The balance of investment in the equity of a single unlisted enterprise shall not exceed 20% of the total share capital of the unlisted enterprise; the balance of investment in a single equity investment fund shall not exceed 30% of the paid-in shares of the equity investment fund. 2. The book balance of investment in a single real estate-related financial product shall not exceed 25% of the paid-in scale of the product. 3. The balance of investment in a single collective fund trust plan shall not exceed 25% of the paid-in trust scale of the product (except for those with an AAA credit rating).