Core Insights - The event "Boosting Consumption and Protecting Rights" focused on the theme of "New Silver Economy Driving Consumption Upgrade" and gathered over 170 representatives from well-known companies and media [1][3] - A report indicated that the consumption needs of the new silver group have shifted from traditional "low-price and practical" to "quality, functionality, and experience," suggesting a significant market potential in the trillion-yuan range across various sectors [3][4] Company Strategies - Herbalife is addressing the health management needs of the new silver group by launching innovative products such as protein nutrition powder and other supplements aimed at enhancing nutrition and immune support [6][7] - The company emphasizes a "Nutrition + Exercise" health lifestyle, aiming to provide personalized health support for the elderly [6][10] Innovation Areas - Herbalife is innovating in three main areas: product innovation, solution innovation, and business model innovation [7] - In product innovation, Herbalife has developed unique combinations of amino acids to support elderly vitality and is integrating modern Western concepts with traditional Chinese health practices [7] - For solution innovation, Herbalife has acquired high-tech companies to create a personalized nutrition advice platform based on individual biological data [7] - In business model innovation, Herbalife operates over 3,000 nutrition clubs across the country, providing personalized health management support and community health activities for the elderly [7] Future Outlook - Herbalife plans to leverage over 40 years of expertise to promote the "Nutrition + Exercise" concept and cater to the growing health consumption needs of various demographics, including the silver population [10]

"在当前全球经济变局下，中国发展环境的确定性、稳定性更加彰显。中国拥有充满活力和潜力的超大 规模市场，过去是、现在是、将来也必然是全球金融机构展业兴业的沃土。"6月18日，国家金融监督管 理总局局长李云泽在2025陆家嘴论坛上表示。 在李云泽看来，银发经济方兴未艾，养老金融大有可为。中国老龄化进程加快，预计2035年60岁以上人 口将突破4亿人，银发经济规模有望达到30万亿元。希望更多外资机构积极参与试点，更好发挥产品设 计、保险精算、投资管理等专业优势，共享中国养老市场发展红利。 过去5年中国信托、理财、保险资管受托管理资产规模年均增速约8%，已成为全球第二大资产和财富管 理市场。"我们支持外资机构在理财投资、资产配置、保险规划等领域加大布局，更好满足客户财富保 值增值等综合化金融需求，促进财富管理行业提质升级。"李云泽表示。 当前，全球政治经济格局深刻调整，经济稳定增长与金融体系韧性都面临诸多挑战和考验。在李云泽看 来，开放合作是金融发展的时代主题，中国金融高水平开放前景广阔，合力构建金融高水平开放新格 局。 李云泽介绍，目前，全球前50大银行有42家在华设有机构，40家最大的保险公司近半数已进入中国。八 ...

Financial Policy Initiatives - The People's Bank of China announced eight significant financial opening measures at the 2025 Lujiazui Forum, including the establishment of an interbank market trading report database to analyze trading data across various financial sub-markets [2][3] - A digital RMB international operation center will be set up to facilitate the use of digital currency in international transactions [2] - The establishment of personal credit institutions aims to provide diversified credit products and enhance the social credit system [2] Offshore Trade and Financing - A pilot program for offshore trade financial services will be launched in the Shanghai Lingang New Area to support the development of offshore trade [3] - The development of offshore bonds will follow international standards to broaden financing channels for enterprises involved in the Belt and Road Initiative [3] - The optimization of free trade account functions will enhance the efficient flow of funds between quality enterprises and foreign capital [3] Digital Transformation in Textiles - By 2027, over 70% of key business processes in large-scale textile enterprises are expected to be fully digitized, as part of a digital transformation initiative led by six government departments [7] - The initiative aims to create over 150 digital transformation scenarios and 60 benchmark enterprises, promoting high-quality development in the textile industry [7] Silver Economy Development - The city of Foshan is focusing on the silver economy, with plans to hold a high-quality development conference to discuss strategies for enhancing the welfare of the elderly [11] - Foshan has over 1,000 enterprises related to elderly products, indicating a growing market in this sector [11] Software Industry Growth - The 2025 Nanjing Software Conference aims to support the development of a trillion-level software city, focusing on industrial software innovation and collaboration [13] - The conference will launch several reports and initiatives to promote high-quality development in the software industry [13] Hong Kong-Shanghai Financial Cooperation - The signing of the "Hong Kong-Shanghai International Financial Center Collaborative Development Action Plan" aims to deepen financial cooperation between the two cities [15] - The plan includes measures to enhance connectivity, support mainland enterprises in going global, and promote financial innovation [15] Monetary Policy Support in Chongqing - A new monetary policy tool with a total scale of 50 billion yuan has been launched in Chongqing to support high-quality economic development in various sectors [17] - The initiative will provide low-cost credit funding to high-tech and specialized small and medium-sized enterprises [17]

香帅，著名金融学者 曾任北京大学金融系副教授、博士生导师 近日，在经济学家香帅与" 日本消费社会研究第一人 "三浦展的访谈中提到： 在日本银发经济赛道上，有没有特别成功的案例、品牌、商品或服务？ 对此， 三浦展老师是这样回答的： 日本已经进入超老龄化社会，所有企业都需要面对银发经济或老年人。 即使是销售儿童服装的企业，也会在产品研发时，重点调研老年人需求。 因为给孩子买衣服的，往往是祖辈。 日本食品行业，正在集中精力解决老年人需求。 其中， 养乐多Y1000 ，就是这样的成功案例。 三浦展， " 日本消费社会研究第一人 " 著有《孤独经济》、《第五消费时代》等 日本市场很少出现爆款商品，但这款产品因为有助眠效用而热销。 这反映出， 希望拥有好的睡眠，是老年人的共性需求。 以酒类企业为例， 三得利 在银发经济背景下，除了酒类产品以外，还重点研发健康食品与营养品。 我虽然不怎么喝酒，却会选择两款健康食品。 味之素 ，也推出了大量面向老年人的商品。 最后，香帅老师总结： 其实，没有所谓的"银发赛道"。 而是，所有商家都在自己原有的商品基础上，做了一些微创新，去适应一个正在老龄化的社会。 所以，在人口结构变化时，所有 ...

随着居民财富持续积累，财富管理需求正在向多元化、专业化配置转型。过去五年中国信托、理财、保险资管受托管理资产规模年均增速约8% 文｜《财经》记者 陈洪杰 研究员 丁艳 编辑 | 张颖馨 杨芮 中国已成为全球第二大资产和财富管理市场、支持外资机构加大布局，支持符合条件的银行在沪设立金融资产投资公司(AIC)，支持外资机构参与 更多金融业务试点…... 6月18日上午，国家金融监督管理总局局长李云泽在"2025陆家嘴论坛"上发表主题演讲。他表示，从金融资产配置比例看，当前中国家庭的现金和 储蓄占比超过一半，远高于OECD（经济合作与发展组织）国家约三分之一的平均水平。随着居民财富持续积累，财富管理需求正在向多元化、 专业化配置转型。 在银发经济方面，李云泽表示，银发经济方兴未艾，养老金融大有可为。中国老龄化进程加快，预计2035年60岁以上人口将突破4亿，银发经济规 模有望达到30万亿元。 "过去五年中国信托、理财、保险资管受托管理资产规模年均增速约8%。我们支持外资机构在理财投资、资产配置、保险规划等领域布局。"李云 泽表示。 另外，目前中国数字金融市场快速发展，规模稳居世界首位。李云泽称，欢迎外资机构深度参与 ...

Core Viewpoint - The insurance industry in China is undergoing significant reforms and opening up to foreign investment, which is seen as a key component of financial reform and development, particularly in Shanghai [1][5][6]. Group 1: Policy and Regulatory Developments - The China Banking and Insurance Regulatory Commission has approved the establishment of insurance asset management companies by AIA and Dutch Global Life in Shanghai, indicating a commitment to further financial openness [1][7]. - The "Action Plan to Support the Construction of Shanghai International Financial Center" has been launched, aiming to attract more insurance institutions to Shanghai and promote the development of an international reinsurance center [1][5]. Group 2: Market Dynamics and Foreign Investment - Nearly half of the world's 40 largest insurance companies have entered the Chinese market, with foreign insurance premiums increasing from 4% in 2013 to 9% currently, reflecting the market's strong appeal and competitive environment [5][6]. - The influx of foreign insurance companies is expected to enhance market competition, drive innovation, and improve insurance awareness and demand [6][10]. Group 3: Development of the Silver Economy - The silver economy, focusing on services for the elderly, is emerging as a significant growth driver, with projections indicating that the population over 60 will exceed 400 million by 2035, creating a market potential of 30 trillion yuan [9][10]. - The establishment of a multi-tiered pension insurance system is crucial for meeting diverse retirement needs and ensuring the sustainability of the pension system in the face of an aging population [10][11]. Group 4: Opportunities for Foreign Insurers - Foreign insurance institutions are encouraged to participate in the development of the pension market, leveraging their expertise in product design, actuarial science, and investment management to create tailored offerings for the elderly [10][11]. - The involvement of foreign players is expected to stimulate market vitality, enhance the professionalism of the domestic insurance industry, and expand the supply of pension products [11].

制造业重镇佛山正将目光投向银发经济"新蓝海"。6月19日，佛山市银发经济高质量发展大会暨佛山市 发展银发经济增进老年人福祉行动方案发布会即将举行。大会将发布《佛山市发展银发经济增进老年人 福祉行动方案》，并成立佛山市银发经济促进会，政府部门、企业代表、行业协会代表将齐聚一堂，共 商制造业大市押注"夕阳红"赛道的新路径。 作为全国重要的制造业基地，佛山正经历着人口结构的转型。2023年佛山市60岁以上户籍人口占比达 17.76%，佛山老龄化程度已高于全省平均水平，预计2025年将升至19.08%。人口老龄化程度不断加 深，对传统以家庭为主的养老模式形成巨大压力，更对养老服务与产品的供给质量与效率提出了新的要 求。 "银发经济"已连续两年被写入政府工作报告。据预测，到2035年中国银发经济规模将突破30万亿元，占 GDP比重超10%，潜力巨大。北京、上海等城市正积极推进银发经济产业布局。 佛山布局银发经济，源于它的产业基因与独特禀赋。在佛山，制造业的链条早已悄然延伸至银发领域， 数据显示，佛山的泛家居产业占全国七成，为适老化家居改造提供强大产能支撑；生物医药与健康、医 疗器械产业产值位列广东省前三，康复辅具类用品 ...

值得一提的是，在去年的陆家嘴论坛上，潘功胜介绍了中国的货币政策立场和未来货币政策 框架的演进。一年来，中国人民银行坚持支持性的货币政策立场，从数量、价格、结构等方 面，出台了多项货币政策措施，有效支持了经济持续回升向好和金融市场的稳定。 "同时，我们完善货币政策框架，优化货币政策中间变量，培育政策利率，提升货币政策传导 效率，丰富货币政策工具箱，做好政策沟通和预期引导。货币政策框架的转型是一个渐进、 持续的过程，未来我们还将不断地做好评估和完善。"潘功胜如是说。（详情→ 潘功胜：单一 主权货币主导跨境支付局面正在改变 ） 作 者丨唐婧 崔文静 杨坪 余纪昕 编 辑丨周炎炎 李新江 张伟贤 杨希 黎雨桐 6月18日，2025陆家嘴论坛在上海开幕，本届论坛以"全球经济变局中的金融开放合作与高质 量发展"为主题。中国人民银行行长潘功胜、金融监管总局局长李云泽、中国证监会主席吴 清、国家外汇局局长朱鹤新出席会议并发表主题演讲，以下为要点汇总： 潘功胜：单一主权货币主导跨境支付局面正在改变 中国人民银行行长潘功胜宣布了设立银行间市场交易报告库、数字人民币国际运营中心、个 人征信机构等八项金融开放举措。 21视频（编辑柳 ...

Group 1 - The report highlights that the food and beverage industry is experiencing a shift from inventory reduction to capacity reduction, particularly in the liquor sector, with a focus on new products and channels for mass-market products [1][12][26] - The overall effective demand remains insufficient, with consumption structure adjustments driven by "emotional premium" and "new channel transformation" [2][3] - The report emphasizes the importance of new retail channels, such as instant retail, which are reshaping the value chain for brand owners, distributors, and retailers, with efficiency being a key factor [2][31] Group 2 - In the liquor sector, the report notes a significant decline in government consumption, which has dropped from 30-40% to around 5% since the introduction of the "three public consumption ban" in 2012, impacting business and mass consumption indirectly [18][21] - The report outlines the 2025 operational goals for various liquor companies, indicating a rational approach to growth targets amid industry consensus on deceleration [23][24] - The report forecasts that the market size for instant retail in the liquor sector will exceed 100 billion yuan by 2025, with significant growth observed in online sales during promotional events [32][36] Group 3 - The report indicates that the white liquor sector is undergoing a deep adjustment period, with macroeconomic cycles, supply-demand imbalances, and a lack of consumption scenarios affecting stock performance [40][41] - It highlights that the white liquor index has underperformed compared to the broader market, with a year-to-date decline of 12.1% as of June 12, 2025 [40][39] - The report suggests that the social attributes of white liquor are evolving, with younger generations favoring different social consumption patterns, such as casual gatherings and emotional consumption [26][29]

【导读】李云泽：中国金融高水平开放前景广阔 中国基金报记者 晨曦 6月18日上午，国家金融监督管理总局局长李云泽出席2025陆家嘴论坛开幕式，并以"坚定不 移推动金融高水平开放 谱写互利共赢新篇章"为主题进行演讲。 图片来源：国家金融监管总局官网 基金君总结主要看点如下： • 目前，全球前50大银行有42家在华设有机构，40家最大的保险公司近半数已进入中国。八 成全国性银行通过引入境外战略投资者，提升了公司治理效能和经营管理水平。 • 外资银行和保险机构总资产超过7万亿元，各项业务保持良好增长态势。外资保险公司保费 占国内市场份额比例已从2013年的4%提升至目前的9%。外资银行衍生品业务国内市场占比 近五分之一。中资机构也在70多个国家和地区广泛展业，有力促进了贸易和投资发展。 • 近年来，消费已成为中国经济增长的主引擎，中国消费市场规模已达到全球第二，其中，汽 车、手机、家电等实物消费量均排名世界第一。中国正在加速成为全球最大消费市场，不少 外资机构在消费金融、普惠金融领域有丰富经验和独特专长，深耕中国市场必将大有作为。 • 金融监管总局正在大力推进金融资产投资公司股权投资、科技企业并购贷款等相关试点，不 ...