周向勇：公募基金需强化能动性 聚焦科技赋能与内需消费主线

Core Viewpoint - The China Wealth Management 50 Forum 2025 Annual Meeting emphasizes the theme of "Building a Financial Powerhouse during the 14th Five-Year Plan" and discusses the role of asset management in supporting the real economy [1][6]. Group 1: Role of Asset Management - The fundamental basis of China's real economy provides a solid foundation for the development of capital markets, which have not fully exerted their influence on the economic foundation in recent years [3][8]. - During the 14th Five-Year Plan, the core task of public funds is to enhance their proactivity and provide higher quality services to support economic transformation [3][8]. - The functionality and profitability of asset management institutions are not in conflict; public funds should prioritize functionality to achieve profitability in the long run, ensuring a positive interaction and balance between the two [3][8]. Group 2: Focus Areas for Public Funds - Two core focus areas are identified for public funds to serve the real economy: technology as a key driver of economic and social development, and the transition from real estate-led investment to a technology-centric development model [4][9]. - The 14th Five-Year Plan emphasizes high-level technological self-reliance, and public funds should not only support advanced technology research but also promote the application of technological achievements across various sectors [4][9]. - There is a need for long-term capital that can accompany the economy through its critical transformation period, and public funds must create real value to encourage investors to keep their funds in the capital market for the long term [4][9]. Group 3: Future Directions - Public funds will focus on high-quality development under national strategic guidance, aiming to facilitate the transformation of the real economy and the implementation of planning [5][10]. - Continuous enhancement of product innovation and research capabilities will be essential to better serve technological development and expand domestic demand, promoting the formation of long-term capital [5][10]. - The goal is to assist China in transitioning from a financial power to a financial powerhouse, allowing the capital market to play a crucial role in the economy [5][10].