金融行业周报：证监会全面落实“十五五”规划建议，普惠金融持续高质量发展-20251110

Investment Rating - The industry investment rating is "Outperform the Market," indicating an expected performance that exceeds the CSI 300 Index by more than 5% over the next six months [26]. Core Insights - The China Securities Regulatory Commission (CSRC) is fully implementing the "14th Five-Year Plan" recommendations, signaling a commitment to further opening up the capital market and enhancing cooperation between mainland and Hong Kong markets [2][8]. - The development of inclusive finance continues to improve in quality, with significant advancements in financial services for rural revitalization and support for small and micro enterprises [9]. - The revised "Securities Settlement Risk Fund Management Measures" will take effect on December 8, 2025, aimed at enhancing risk management in the securities settlement system [10]. Summary by Sections Key Focus - The CSRC's commitment to deepening capital market reforms and enhancing cross-border investment facilitation is crucial for the development of both mainland and Hong Kong markets [8]. - The People's Bank of China has reported that inclusive finance is expanding, with increased loan volumes for rural areas and small enterprises, and a growing variety of financial products to meet diverse needs [9]. - The updated management measures for the securities settlement risk fund will improve the risk prevention capabilities of the securities registration and settlement system [10]. Industry Data - The banking, securities, insurance, and fintech indices changed by +2.79%, -0.72%, +1.25%, and -3.44% respectively, with the CSI 300 Index rising by 0.82% during the same period [12]. - The central bank's open market operations resulted in a net withdrawal of 15,722 billion yuan, with SHIBOR rates showing mixed trends [19]. - The average daily trading volume for stock funds was 26,999 billion yuan, reflecting a 6.4% decrease from the previous week [21].