金融新规热读（3月刊）

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report highlights the increasing focus on economic promotion and the implementation of new financial regulations aimed at enhancing consumption and supporting various sectors such as technology and green finance [5][9][60] Summary by Sections 1. Overview of Financial New Regulations - In March 2025, a total of 42 important new regulations were issued by various regulatory bodies, focusing on consumer finance, pension finance, intellectual property finance, equity investment, and consumer rights protection [5][6] 2. Economic Promotion - The central government has released several initiatives to boost consumption, including the "Special Action Plan for Boosting Consumption" and various opinions aimed at supporting high-quality development of the private economy [6][8] 3. "Five Major Articles" - The State Council issued guidelines to promote five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance, with significant achievements expected by 2027 [15][19] 4. Regulatory Changes - The report discusses the introduction of new administrative penalty measures and the optimization of enforcement methods to enhance regulatory transparency and fairness [11][35] 5. Intellectual Property Finance Ecosystem Pilot - A pilot program for intellectual property finance was launched in several regions to improve services related to intellectual property pledges and valuations, aiming to address existing challenges in the sector [24][30] 6. Measures to Boost Consumption - Financial institutions are encouraged to increase the supply of consumer finance, optimize management practices, and provide support for individuals facing repayment difficulties [49][55] 7. Commercial Bank Agency Sales Regulation - New regulations were introduced to clarify the responsibilities of commercial banks in agency sales, emphasizing the need for robust internal management and consumer protection mechanisms [74][75]