央财养老金融白皮书：亟须完善顶层设计

Core Viewpoint - The "White Paper on the Breakthrough Path for High-Quality Development of Pension Finance in the New Era" highlights the structural bottlenecks in China's pension finance, emphasizing the need for a systematic approach to optimize the top-level design and enhance collaboration across departments [1][2]. Macro Level - The current pension finance system in China lacks systematic legal guarantees and cross-departmental collaboration mechanisms, leading to insufficient policy synergy [1]. - A clear definition of pension finance is necessary, encompassing pension financial services, pension service finance, and pension industry finance, which together form a comprehensive pension finance system [1]. Meso Level - The white paper advocates for leveraging the resource integration advantages of core financial entities to build a deep linkage ecosystem of "capital-industry-service," thereby strengthening the industrial support for pension finance [2]. Micro Level - There is a need to upgrade financial products and service models based on market demand to enhance the adaptability and accessibility of pension finance [2]. - The development of pension finance should focus on the dialectical relationship between core functions and variables such as policy, technology, and market dynamics [2]. Strategic Engines - The three strategic engines identified for promoting high-quality development in pension finance are legislation, credit system construction, and enhancing national financial literacy [2]. - Establishing a clear boundary of responsibilities among government, market, and society is essential for risk prevention and control [2].