Core Viewpoint - The recent issuance of the "Action Plan for Promoting the High-Quality Development of Public Funds" by the China Securities Regulatory Commission marks a significant reform initiative aimed at enhancing investor returns and ensuring the long-term development of the public fund industry, transitioning it towards a new phase focused on quality and returns [1][3][5]. Group 1: Industry Development and Trends - The public fund industry has seen continuous expansion, with net assets reaching 32.83 trillion yuan by the end of 2024, reflecting a significant year-on-year growth [4]. - The number of investors in public funds is steadily increasing, indicating a growing interest from both individual and institutional investors in asset allocation through public funds [4]. - The industry faces challenges such as heightened competition and increasing demands from investors for product quality and service transparency, necessitating a shift from a scale-focused approach to one that emphasizes returns [5][6]. Group 2: Strategic Directions - The "Action Plan" serves as a guiding framework for the industry, shifting the focus from "scale" to "returns," thereby establishing a virtuous cycle of "return increase - capital inflow - market stability" [5]. - Fund companies are encouraged to enhance asset management capabilities and optimize product offerings to better align with client needs, thereby improving customer experience and fostering a wealth management ecosystem [5][6]. Group 3: Innovation and Technology - The integration of digital technologies such as artificial intelligence and big data into the asset management industry is becoming increasingly important, with firms investing in digital transformation to enhance efficiency and reduce costs [8]. - The development of a modern investment research system and a refined product system is essential for achieving long-term stable returns for investors [8][10]. Group 4: Risk Management and Compliance - A comprehensive risk management framework is crucial for maintaining financial stability, which includes embedding risk monitoring and early warning mechanisms throughout all business processes [9][10]. - Strengthening compliance culture is fundamental to risk prevention, requiring ongoing training and education to foster a proactive risk management environment [10]. Group 5: Future Outlook - The public fund industry is positioned to play a vital role in supporting national strategies and the transformation of the real economy, with a focus on innovation in products and services that cater to emerging sectors [7][11]. - Companies are committed to continuous improvement in their core competencies and aligning their strategies with the evolving needs of the economy and investors [11].

专题：2025基金高质量发展大会 宝盈基金作为公募基金的一员，我们也将持续围绕高质量发展这一核心任务，在推动"平台化、一体 化、多策略"投研体系升级、提升产品管理能力、助力居民财富管理、保护投资者权益、筑牢安全底线 等方面聚焦发力，通过深化内部沉淀、强化自我革新、拓展外部视野，持续夯实核心竞争力体系。以专 业能力为纽带，精准对接实体经济发展需求，深度融入中国式现代化与现代化经济体系建设浪潮，不断 探索创新服务模式，在时代发展进程中注入更多金融智慧，为国家经济高质量发展持续贡献坚实力量。 MACD金叉信号形成，这些股涨势不错！ 杨凯提出，"以道统术，以术得道，方能乘势而上"。在金融强国建设征程中，公募基金需以专业能力为 基石，在做好科技金融、绿色金融、普惠金融、养老金融、数字金融"五篇大文章"的同时，筑牢风险防 控底线，维护金融安全稳定。既要精进投研体系升级、产品创新之"术"，建立投资者为中心的价值框 架，增强投资者获得感、幸福感；又要精进风险管理之"术"，构建覆盖全业务流程的风险监测与预警机 制，强化合规文化建设，全面提升风险管理能力，从而在服务实体经济和居民资产配置中稳健前行，为 金融强国建设贡献坚实力量。 ...

2025年5月17日至18日，2025清华五道口全球金融论坛在深圳隆重召开。作为本届论坛的重要专题之 一，主题论坛十一以"人口老龄化的机遇与挑战"为题，聚焦全球养老金融体系建设，深入探讨人口结构 变化带来的深层影响，以及政策引导与市场机制协同下的制度应对路径。 本场论坛由清华大学五道口金融学院研究员、中国保险与养老金融研究中心主任、金融MBA教育中心主 任魏晨阳主持，并以圆桌讨论的形式展开。 论坛全程以英文进行，吸引了来自不同国家和地区的专家学者积极参与。 图为会议现场 本场论坛邀请了四位海内外嘉宾参与讨论，分别是：日本央行前行长、日本青山学院大学杰出客座教 授白川方明，原中国保险监督管理委员会党委副书记、副主席周延礼，清华五道口养老金融50人论坛 秘书长、中国人民大学公共管理学院、劳动人事学院原院长董克用，以及欧洲保险业联合会前主席塞 尔吉奥·巴比诺特。四位专家围绕养老金制度改革、人口结构变化对金融体系的影响、以及应对全球 老龄化趋势的跨国经验进行了深入研讨与交流。 魏晨阳 清华大学五道口金融学院研究员 日本青山学院大学杰出客座教授 中国保险与养老金融研究中心主任 金融MBA教育中心主任 论坛伊始，主持人魏 ...

Group 1: Issuance Overview - The company plans to issue A-shares to specific investors, with a total fundraising target of up to RMB 120 billion, which will be used to supplement its core Tier 1 capital [2][3] - The issuance has been approved by the company's board and relevant regulatory bodies, including the China Securities Regulatory Commission (CSRC) [2][3] - The issuance price is set at RMB 8.51 per share, adjusted from an initial price of RMB 8.71 due to dividend distributions [4][5] Group 2: Subscription Details - The specific investors include the Ministry of Finance, China Tobacco, and Shuangwei Investment, with subscription amounts of RMB 1,124.20 billion, RMB 45.80 billion, and RMB 30 million respectively [3] - The shares subscribed by these entities will be subject to a five-year lock-up period, with the Ministry of Finance committing not to transfer its shares for 18 months post-issuance [6] Group 3: Shareholder Structure - Post-issuance, the Ministry of Finance will hold over 30% of the shares, making it the controlling shareholder of the company [6] - The company has outlined its profit distribution policy and plans for shareholder returns over the next three years [6] Group 4: Regulatory Compliance - The issuance complies with regulations set forth by the CSRC and other relevant authorities, ensuring that the transaction adheres to legal and procedural requirements [2][3] - The company has established measures to address potential dilution of immediate returns due to the increase in share capital from this issuance [6]

Core Viewpoint - Tianjin Bank has established a pension financial alliance with 10 organizations, marking a significant advancement in pension financial services in Tianjin [1] Group 1: Pension Financial Alliance - The alliance aims to enhance pension financial services, contributing to social harmony and the well-being of citizens [3] - The establishment ceremony was attended by representatives from various governmental and educational institutions, indicating strong institutional support [1] Group 2: Financial Service Development - Tianjin Bank is upgrading its "Golden Autumn Harbor" pension financial service brand, focusing on a "six-special" service system that includes specialized products, services, resources, support, research, and education [3] - The bank emphasizes the integration of research and technology to foster the "silver economy" and enhance pension financial services [3] Group 3: Collaborative Efforts - The bank collaborates with various sectors including healthcare, insurance, tourism, smart services, legal consulting, and media to create a comprehensive pension financial product matrix [6] - Partnerships with local health organizations and educational institutions aim to integrate elderly healthcare resources and innovate in elderly tourism and leisure services [6] - A dedicated radio program has been launched to provide financial knowledge and health information tailored for the elderly, enhancing community engagement [6]

金融是支撑科技强国的重要力量，一直以来，兴业银行成都分行高度重视科创企业培育成长，全面提速 推进高标准建设，加速形成全生命周期服务体系，努力将科技金融打造成为绿色银行、财富银行、投资 银行"三张名片"之后的"第四张名片"。截至2024年末，成都分行科技金融客户突破1.1万户、贷款余额 超380亿元，双创历史新高。 布局养老金融 关爱银发人群 兴业银行"安愉品牌"扎根天府十二年来，以安愉专"蜀"卡为载体，"金融+非金融"双重服务体验为工作 思路，"老有所学、老有所乐、老有所依"为框架打造安愉人生俱乐部权益体系，着力打造全川"第一养 老金融"品牌。截至目前，分行已与省内各级老体协、老年大学协会、老年协会等近100个主流协会、机 构开展系列活动。 2023年，兴业银行成都分行携手成都市老年大学开创了四川省内"金融+教育"办学先河，形成"金融服务 点+老年教学点"格局，惠及青羊区10余个主要老龄社区超1200人，让综合金融服务的触角打通社区 的"最后一公里"。2024年，成都分行适老化服务再进一步，青羊支行营业厅进行全面"适老化"改造升 级，打造集金融服务、社交活动、学习娱乐于一体的"一站式"老年乐享空间，为兴业银行 ...

Core Viewpoint - The development of pension finance by commercial banks has shown significant results, but is constrained by customer demand, banking products, and service networks. To achieve sustainable development in pension finance, banks should enhance promotional efforts, improve employee skills, develop age-friendly products, increase credit support for the pension industry, and leverage both online and offline channels while ensuring consumer rights [1]. Group 1: Constraints on Development - The demand from elderly customers is increasingly diverse, transitioning from traditional savings to high-value investment products, highlighting the need for banks to cater to varying financial needs [2]. - There is an urgent need to strengthen credit support for the pension industry, as many projects are in their infancy and require tailored banking solutions to meet their specific needs [3]. - The lack of age-friendly financial products is evident, as banks primarily offer low-yield savings accounts, failing to meet the growing demand for higher returns among elderly clients [4]. - The role of bank branches in serving elderly customers is not fully realized, with improvements needed in both hardware and software environments to better accommodate this demographic [5]. - There is insufficient awareness and protection of elderly consumers' rights, particularly against financial fraud, necessitating more comprehensive education and communication from banks [6]. - Marketing strategies targeting elderly customers are inadequate, with many banks underestimating their potential contribution to overall profitability [7]. Group 2: Improvement Measures - Banks should enhance the promotion of pension finance, ensuring that employees are well-informed about policies and practices, and integrating this knowledge into daily operations [8]. - A comprehensive credit support system for the pension industry should be established, focusing on selecting appropriate clients and streamlining the approval process for loans [9]. - More diverse pension financial products need to be developed to meet the varied needs of elderly clients, ensuring continuous availability and adaptability of these products [12][13]. - Bank branches should improve their physical environments to better serve elderly customers, focusing on both hardware and service quality enhancements [14]. - Continuous education and awareness campaigns are necessary to protect elderly consumers from financial fraud and to improve their understanding of financial products [16]. - Banks should ensure that qualified personnel are assigned to serve elderly clients, enhancing the overall service quality and expertise in pension finance [17][18].

Core Viewpoint - The People's Bank of China Shaanxi Branch is focusing on five key financial areas: technology finance, green finance, inclusive finance, pension finance, and digital finance to support the high-quality economic development of Shaanxi Province [1][2]. Group 1: Policy Framework and Implementation - A comprehensive policy framework has been established, including the issuance of the "Overall Implementation Plan for Financial 'Five Major Articles'" and specific plans for each financial area [2]. - A regular financing docking mechanism has been set up to enhance financial service levels, requiring local branches and financial institutions to create a collaborative list of policies, products, enterprises, issues, and party-building tasks [2]. - Assessment and evaluation mechanisms have been improved, including the issuance of notifications for green finance evaluations and the promotion of successful practices [2]. Group 2: Progress in Financial Areas - In technology finance, a partnership with Xi'an University of Electronic Science and Technology has been formed, resulting in the release of 1,000 projects for technology transformation and 1,000 innovative enterprises [3]. - As of March 2025, the balance of loans to technology enterprises reached 414.603 billion yuan, with a year-on-year growth of 13.07% [3]. - In green finance, the balance of green loans reached 804.264 billion yuan, with a year-on-year increase of 5.6% [3]. - Inclusive finance initiatives have led to a balance of loans to private enterprises of 1.22 trillion yuan, growing by 11.15%, and loans to small and micro enterprises of 613.553 billion yuan, increasing by 17.19% [3]. - In pension finance, efforts have been made to enhance financing services for the elderly, with a proposed financing amount of 18.1 million yuan identified through visits to 37 elderly care institutions [3]. Group 3: Future Directions - The People's Bank of China Shaanxi Branch plans to focus on key areas and weaknesses, enhancing financial services for the real economy [4]. - Collaboration with industry authorities will be strengthened to ensure policy coherence and effectiveness [4]. - The bank aims to leverage structural monetary policy tools to guide financial institutions in increasing credit resources and optimizing credit structures [4].

Core Insights - Ping An Bank's Shanghai branch has integrated pension finance into its strategic business framework, focusing on enhancing pension financial services and exploring high-quality pension solutions [1][2] - The bank organized a series of public welfare activities themed "Ping An Heart Orange Benefit: Respect for the Elderly," celebrating its 27th anniversary and demonstrating corporate social responsibility [1] - The activities reached various locations in Shanghai, including communities, elderly canteens, nursing homes, and senior universities, combining financial services with humanistic care [1] Summary by Categories Pension Financial Services - The bank aims to expand the coverage of "age-friendly" financial services, innovate service models, and optimize service processes to enhance customer satisfaction among elderly clients [2] - Ping An Bank emphasizes that pension finance is not only about fund management but also reflects the well-being of the populace [2] Community Engagement and Activities - During the public welfare campaign, the bank's branches organized 116 various salon activities, serving over 8,000 elderly clients, which received positive social feedback and high praise from elderly customers and the community [1] - Activities included health lectures, cultural performances, spring outings, poetry recitals, choir competitions, anti-fraud knowledge salons, and movie screenings, aimed at providing warmth and care to the elderly [1]

Group 1: Characteristics of Aging Society in China - The elderly population in China is substantial, with 217 million individuals aged 65 and above in 2023, projected to exceed 300 million by 2034 and 400 million by 2052, making China the largest elderly population country globally [2][3] - Urban-rural disparities in aging are evident, with rural areas experiencing faster and deeper aging, necessitating policies that promote integrated development and address the unique needs of the elderly in rural settings [3][4] - There is insufficient understanding of the health status of the elderly, with estimates indicating that 6.18 million elderly individuals are disabled, highlighting the need for better tracking and statistics to inform health industry development [4] Group 2: Feasible Paths for Pension Finance Development - China is gradually establishing a three-pillar pension framework, consisting of basic pension insurance, enterprise/occupational annuities, and personal pensions, which aligns with international practices [5][6] - The broad concept of pension finance in China includes pension financial services, financing for related industries, and financial services for various elderly needs, indicating a comprehensive approach to pension finance [5][6] Group 3: Recommendations for Financial Institutions - Financial institutions should enhance their understanding of the necessity of pension finance, as nearly 70% of urban residents believe in planning for retirement wealth early [15] - There is a need to develop a series of health-oriented financial products that cater to individual retirement planning, integrating various financial services to ensure stability and predictability for clients [16][18] - Institutions should leverage the bond market for innovative financing solutions, such as real estate investment trusts (REITs) and asset-backed securities (ABS), to support the long-term investment nature of pension finance [20]