Core Viewpoint - The article discusses the transformative impact of artificial intelligence (AI) in the wealth management sector, evolving from a tool for efficiency enhancement to an intelligent partner capable of understanding client needs and providing personalized advice, thereby reshaping service models and customer experiences [3][5]. Research Background - The rapid development of AI technologies, particularly generative AI, is driving a paradigm shift in the global financial industry, with wealth management at its core. The Chinese government's policy support and unique digital ecosystem are facilitating the swift advancement of AI in wealth management [5]. Research Design - A joint online survey conducted by Tsinghua University's Wudaokou School of Finance and Ant Group aimed to analyze the real-world application of AI wealth management tools in China. The survey collected 1,627 valid responses, including 1,514 from individual investors and 113 from institutional research users, ensuring a representative sample [8]. Individual Investors: Market Potential and Experience Pain Points - The survey revealed a significant gap between the recognition and actual use of AI wealth management tools among individual investors. Over half of the respondents had never used such tools, and only 14.8% were deep users, indicating that market penetration is still in its early stages [9]. - Despite low usage rates, users have a strong understanding of AI's core value, with 24.14% appreciating the service's availability, 23.31% valuing the reduction of professional barriers, and 20.69% recognizing the importance of personalized investment advice [11]. - Key application areas for AI tools include investment decision-making, with users primarily utilizing them for product comparison (22.39%), learning financial knowledge (21.48%), and obtaining market insights (21.4%) [11]. - Major experience pain points include overly theoretical responses (23.72%), concerns about product neutrality (20.97%), and insufficient emotional interaction (12.83%), highlighting challenges in transitioning from generalized suggestions to actionable plans [11]. - Individual investors envision AI as a comprehensive financial advisor, desiring roles such as market analyst (26.76%), financial planner (22%), investment behavior coach (19%), knowledge mentor (18.48%), and emotional support partner (11.59%) [11]. Institutional Research Users: Shallow Application and Need for Automation - In contrast to individual investors, institutional users exhibit different application characteristics. While over 70% have encountered AI tools, 63.7% only use them occasionally for reference, with deep reliance at a mere 7.1%, indicating that AI has not yet integrated into core workflows [15].

文/《清华金融评论》 周茗一 近 日 多 家 国 际 机 构 密 集 上 调 20 25 年 中 国 经 济 增 速 预 期 。 其 中 ， 世 界 银 行 、 国 际 货 币 基 金 组 织 、 亚 洲 开 发 银 行 分 别 上 调 0. 4 、 0. 2 、 0. 1 个 百 分 点。多家机构表示，尽管面临冲击，中国经济展现了显著韧性。 12月10日，国际货币基金组织表示，预计2025年中国经济增速将达5%，较今年10月发布的《世界经济展望报告》上调0.2个百分点。当日， 亚洲开发银行表示，得益于中国出口的韧性表现和财政政策持续发力，决定对2025年中国经济增速预期上调0.1个百分点。世界银行、国际 货币基金组织还上调了对明年中国经济增速预期，分别上调0.4、0.3个百分点。 世界银行表示，从全年来看，中国经济表现好于年初预期。中国政府更加积极的财政政策和适度宽松的货币政策支撑了国内消费和投资。 同时，中国出口市场更加多元化，为保持出口韧性提供了支撑。 对于中国经济增长前景，世界银行中国首席经济学家米丽莎认为，长期来看，中国经济增长潜力仍相当高。通过加强科技创新、提高资源 分配效率等，中国将继续提高生产 ...

Core Viewpoint - The article emphasizes the importance of steadily developing the digital RMB as a key task in building a strong financial nation, highlighting the recent establishment of a "dual-center" framework for its promotion and the need for infrastructure and strategic upgrades in its implementation [2]. Group 1: Infrastructure Development - The construction of digital RMB infrastructure is accelerating, with the establishment of the Digital RMB International Operation Center in Shanghai and the Digital RMB Operation Management Center in Beijing, aimed at enhancing cross-border applications and financial market innovations [3]. - As of September 2025, the cumulative transaction amount in pilot areas for digital RMB is expected to reach 14.2 trillion yuan, with 33.2 billion transactions processed and 225 million personal wallets opened through the digital RMB app [3]. Group 2: Positioning of Digital RMB - Experts argue that the digital RMB should not be limited to M0 (cash in circulation) but should be recognized as a comprehensive digitalization of the RMB, allowing for broader applications beyond cash management [4]. - The current M0 positioning of digital RMB restricts its potential, and adjustments are necessary to extend its functionality towards M1 and M2, which would incentivize both individuals and businesses to adopt it [5]. Group 3: Upgrading Measurement Framework - The digital RMB's measurement framework needs to be upgraded to enhance its monetary derivation capabilities, aligning with economic growth and ensuring that commercial banks and users are motivated to engage with it [6]. - The article suggests that the digital RMB should evolve to support a more integrated monetary system, allowing for better service to the real economy through technological advancements [6]. Group 4: Expanding Application Scenarios - The digital RMB is being positioned to support a wide range of payment scenarios, including C-end personal payments, B-end merchant payments, and cross-border transactions, with a focus on enhancing user experience and accessibility [7][8]. - The establishment of a market-driven ecosystem for digital RMB is crucial to stimulate its usage among market participants, requiring a management system that attracts professional talent and enhances competitiveness in the financial market [8].

12 月 1 0 日 至 11 日 ， 中 央 经 济 工 作 会 议 在 北 京 举 行 ， 总 结 20 25 年 经 济 工 作，分析当前经济形势，部署2026年经济工作。12月13日，由中国国际 经济交流中心举办的" 2 025 - 202 6中国经济年会"在京举行，今年年会的主 题 为 " 贯 彻 落 实 中 央 经 济 工 作 会 议 精 神 以 高 质 量 发 展 为 ' 十 五 五 ' 开 好 局"。中央财办分管日常工作的副主任、中央农办主任韩文秀发表《坚持 稳中求进、提质增效 努力实现"十五五"良好开局》的主旨演讲。 韩文秀表示，2024年9月26日中央政治局会议以来，我国先后出台实施了一系列政策措施。明年还将根据形势变化出台实施增量政策，要协同发挥存量政 策和增量政策集成效应，推动经济稳中向好。 2025年经济增长5%左右 韩文秀表示，回望"十四五"，我国有效应对世纪疫情、脱钩断链、自然灾害等超乎寻常的冲击挑战。经济实力明显壮大，我国经济总量连续跨过110万亿 元、120万亿元、130万亿元的台阶，今年预计达到140万亿元左右。 韩文秀表示，今年是中国式现代化进程中具有重要意义的一年，是很 ...

Core Viewpoint - The article highlights the recognition of "Tsinghua Financial Review" as one of the "Top 100 Digital Reading Influential Journals" for 2025, ranking 64th in the overseas category, indicating its growing influence in digitalization and internationalization [2][12]. Group 1: Event Overview - The "2025 Digital Reading Influence TOP100 Journals and Cities Ranking Release and AI Knowledge Service Scenario Application Seminar" was held in Beijing, where two key lists were announced: "Top 100 Digital Reading Influential Journals (Domestic)" and "Top 100 Digital Reading Influential Journals (Overseas)" [2]. - The recognition of "Tsinghua Financial Review" marks a significant achievement in its influence-building efforts in the digital and international arenas [2]. Group 2: Future Development and Suggestions - The article discusses the importance of content metadata, including title, author, column, field, theme, and publication time, to analyze content production patterns and enhance quality [5]. - It emphasizes the need for journals to leverage AI and big data to transform knowledge production and dissemination, with initiatives like "One Journal, One AI" already aiding several journals in their digital transformation [5][10]. - The article suggests that journals should focus on expanding their reach in populous provinces like Shandong and Sichuan, as well as economically developed regions like Jiangsu and Zhejiang, to seek future growth [5].

新华社北京1 2月1 2日电 全国金融系统工作会议12月1 2日在京召开。中 共中央政治局委员、中央金融委员会办公室主任何立峰出席会议并讲话。 他强调，金融系统要深入学习贯彻中央经济工作会议精神，准确把握经济 工作面临的形势和主要目标任务，坚定做好金融工作的信心和决心，坚持 防风险、强监管、促高质量发展工作主线，有力有序有效做好20 26年金 融重点工作。 全国金融系统工作会议12月12日在京召开。中共中央政治局委员、中央金融委员会办公室主任何立峰出席会议并讲话。他强调，金融系统要深入学习贯彻 中央经济工作会议精神，准确把握经济工作面临的形势和主要目标任务，坚定做好金融工作的信心和决心，坚持防风险、强监管、促高质量发展工作主 线，有力有序有效做好2026年金融重点工作。 要继续着力做好防范化解地方中小金融机构风险、房地产企业涉金融风险、地方政府融资平台金融债务风险工作，严控增量、妥处存量、严防"爆雷"，严 厉打击非法金融活动。 要进一步巩固和强化金融监管，完善重点领域监管制度体系并严格落实，持续强化金融机构合规意识和风险意识，不断提升监管能力，严肃开展金融风险 追责问责。 要全力以赴推动高质量发展，继续实施好 ...

Core Insights - The articles highlight three significant books that provide insights into investment strategies, economic dynamics, and personal entrepreneurship experiences, emphasizing the importance of adapting to market changes and leveraging unique opportunities for long-term success [3][8][13]. Group 1: Investment Strategies - "Winning the Loser's Game" by Charles D. Ellis serves as a comprehensive guide for long-term investors, focusing on avoiding pitfalls and developing effective strategies to achieve success with lower costs and risks [3][4]. - The book emphasizes the importance of setting clear investment goals and maintaining patience and determination to navigate market volatility [3][4]. Group 2: Economic Dynamics in Japan - "Who Will Dominate the Future of the Japanese Economy?" by Richard Katz analyzes the conflict between emerging startups (referred to as "gazelles") and established traditional corporations (referred to as "elephants") in Japan's economic landscape [8][9]. - The book discusses how the rigid development model post-World War II is being challenged by agile startups leveraging technology and innovation, while traditional firms struggle with digital transformation [8][9]. Group 3: Personal Entrepreneurship Insights - "Am I Being Too Subtle?" by Sam Zell offers a personal narrative of the author's journey as a successful entrepreneur and investor, sharing lessons on identifying undervalued assets and developing robust investment strategies [13][14]. - Zell's experiences highlight the importance of creativity, risk-taking, and maintaining ethical standards in business, providing inspiration for aspiring entrepreneurs [13][14].

Core Viewpoint - The article emphasizes the importance of a systematic and practical approach to economic policy in China, focusing on targeted and effective measures to address existing challenges while maintaining long-term growth potential [4][5]. Group 1: Economic Policy Direction - The Central Economic Work Conference has shifted from general principles to a more systematic and practical approach, emphasizing "targeted precision" and "solid implementation" in economic policies [5]. - The conference acknowledges the intertwining of long-term positive economic trends with new challenges, advocating for integrated effects of existing and new policies rather than a scattered use of policy tools [5][7]. Group 2: Key Focus Areas - The conference identifies three main focus areas: expanding domestic demand, fostering innovation and reform, and addressing risk in key sectors such as real estate and local government debt [10]. - It highlights the need to tackle demand shortfalls, enhance innovation-driven growth, and manage risks effectively, particularly in the real estate market and local government debt [10][19]. Group 3: Practical Implementation - The article outlines specific actions to boost domestic demand, including initiatives to enhance consumer spending and increase investment through government support and private sector engagement [13][14]. - It stresses the importance of aligning consumption and investment strategies to create a robust foundation for domestic demand growth [14][15]. Group 4: Innovation and Reform - The conference sets a clear agenda for innovation, including the establishment of international technology innovation centers and the promotion of a collaborative ecosystem for technology and industry integration [16]. - It emphasizes the need for reforms that dismantle barriers and release institutional dividends, with specific regulations and action plans to support private enterprises and improve the business environment [17]. Group 5: Social Welfare and Risk Management - The article discusses measures to enhance social welfare, focusing on employment stability, education, healthcare, and support for vulnerable groups, ensuring a safety net for the population [18]. - It outlines a structured approach to risk management, particularly in the real estate sector and local government debt, advocating for precise and gradual measures to mitigate systemic risks [19][20]. Group 6: Capital Market Development - The article highlights the importance of deepening capital market reforms to enhance attractiveness and inclusivity, aiming to create a multi-layered and differentiated market system [22][23]. - It calls for optimizing return mechanisms for investors and improving the regulatory framework to support long-term investments and facilitate market access for various stakeholders [22][23].

随着国家正式启动"十五五"规划的宏伟蓝图，可持续发展正从一项关键战略，升级为衡量未来经济高质量发展的重要标尺。在此承前启后的 关键时刻，2025年成为中国可持续发展进程从"理念构建"迈向"实践深化"的关键年份。 企业非财务信息披露正经历一场深刻的"范式迁移"。 国务院国资委、证监会及沪深北交易所密集出台《央企ESG专项行动指南(2025)》、《上市公司信息披露管理办法》、《上市公司自律监管指 引——可持续发展报告（试行）》等相关政策，明确要求将可持续发展纳入公司治理核心，推动信息披露从"可选披露"迈向"规范披露"。 在此新周期下，金融机构作为资源配置的核心，已从理念倡导者转变为关键行动者。银行、保险、资管等机构正将ESG深度融入其战略与业 务流程，通过大力发展绿色金融、创新可持续金融产品、践行负责任投资、强化环境风险管理等一系列努力，精准引导金融活水支持实体经 济绿色低碳转型。 为系统梳理并推广实践，《清华金融评论》正式启动"2025可持续发展典型案例征集"活动，旨在搭建一个高层次的实践交流平台，通过征 集、遴选并展示在绿色金融、社会责任及可持续发展治理等领域的优秀案例，树立行业标杆，促进经验共享，共同助力中 ...

不断巩固拓展经济稳中向好势头（谈体会 话落实）——与会同志谈贯彻落实中央经济工作会议精神 12月10日至11日，中央经济工作会议在北京举行。习近平总书记出席会议并发表重要讲话，总结2025年经济工作，分析当前经济形势，部署 2026年经济工作。 会议期间，部分与会同志接受了本报记者采访。大家表示，习近平总书记在会上发表的重要讲话站位高远、思想深邃、内涵丰富，为做好明 年经济工作指出了明确方向、提供了根本遵循，将认真学习领会、抓好贯彻落实。 今年是很不平凡的一年。一年来，中国经济顶压前行、向新向优发展，经济社会发展主要目标将顺利完成。过去5年，我们有效应对各种冲击 挑战，推动党和国家事业取得新的重大成就，"十四五"即将圆满收官，第二个百年奋斗目标新征程实现良好开局。 成绩来之不易，值得倍加珍惜。 沈晓明表示，湖南将全面贯彻落实会议精神，牢固树立和践行正确政绩观，完整准确全面贯彻新发展理念，把高质量发展作为确定工作目 标、制定政策措施、谋划推进工作的根本要求，把党中央各项决策部署在湖南扎扎实实落实好。 明年经济工作的大政方针已定，任务艰巨，意义重大。与会同志表示，要更加紧密团结在以习近平同志为核心的党中央周围，自 ...