利好！金融监管总局，最新发布

Core Viewpoint - The notice from the National Financial Supervision Administration aims to promote the sustainable and healthy development of pension financial products, expanding pilot areas nationwide and enhancing investment opportunities in the pension sector. Group 1: Expansion of Pilot Programs - The pilot areas for pension financial products will be expanded to the entire country, with a trial period of three years [4] - The total fundraising limit for a single financial company participating in the pilot will be increased to five times the net capital after deducting risk capital from the previous year's end balance [11] Group 2: Investment Strategies - Financial companies are supported to invest in pension-related assets through various means, including bonds, stocks, non-standardized debt assets, and derivatives, while adhering to compliance and functional positioning [5][9] - Encouragement for pilot financial companies to issue long-term pension financial products with a minimum holding period of five years or more, with additional regulatory benefits for those with a higher proportion of such products [6][12] Group 3: Fee Structure and Flexibility - Certain fee rate discounts will be implemented for management, sales, and custody fees of pension financial products, promoting commercial sustainability [6] - Pilot financial companies are encouraged to design flexible features for pension financial products, including aspects like purchase, redemption, and dividends, to better match individual investor needs [12] Group 4: Liquidity and Risk Management - Research will be conducted to establish mechanisms for the transfer and pledge of pension financial products to enhance liquidity for investors facing significant health issues [7] - A focus on strengthening risk management arrangements to protect investor rights and ensure smooth operation of transfer and pledge services [18] Group 5: Support for Specialized Departments - Financial companies that meet certain criteria are encouraged to explore the establishment of dedicated pension departments, enhancing investment management, risk control, and information systems [8][14] Group 6: Investment in Health and Elderly Industries - Increased funding support for investments in long-term quality assets that align with pension characteristics, including participation in major national projects [9][15] - Financial companies are encouraged to consider the risk-return characteristics of pension financial products in relation to investor risk preferences, aiming for a balance between economic and social benefits [15]