国家统计局工业司首席统计师于卫宁表示，各地区各部门认真落实更加积极有为宏观政策，培育壮大新 经济增长点，高技术制造业、装备制造业等新质生产力较快增长，叠加低基数效应影响，规模以上工业 企业利润增速继续回升。 工业企业营收增长加快。前9个月，规上工业企业营收同比增长2.4%，其中9月份营收增长2.7%。营业 收入当月增速连续两个月加快，为企业盈利持续恢复创造有利条件。 国家统计局10月27日发布数据，前9个月，规上工业企业利润同比增长3.2%，为去年8月份以来各月累 计最高增速；较前8个月加快2.3个百分点，呈现加快恢复态势。9月份，规上工业企业利润同比增长 21.6%，较8月份加快1.2个百分点。 不同规模类型企业利润均有改善，私营和外资企业利润明显加快。前9个月，规上工业大型、中型、小 型企业利润同比分别增长2.5%、5.3%、2.7%。分企业类型看，私营企业、外商和港澳台投资企业利润 分别增长5.1%、4.9%。 营收利润率回升。前9个月，规上工业企业营业收入利润率为5.26%，同比提高0.04个百分点；其中，9 月份规上工业企业营业收入利润率为5.49%，同比提高0.85个百分点。 国家金融与发展实验室 ...

国家统计局10月27日发布的数据显示，1~9月份，规模以上工业企业利润同比增长3.2%，为去年8月份 以来各月累计最高增速；较1~8月份加快2.3个百分点，呈现加快恢复态势。 随着更加积极有为的宏观政策落地见效，叠加低基数效应影响，规模以上工业企业利润增速继续回升。 于卫宁分析，高技术制造业带动作用明显。1~9月份，规模以上高技术制造业利润同比增长8.7%，较 1~8月份加快2.7个百分点，拉动全部规模以上工业企业利润增长1.6个百分点。其中，9月份高技术制造 业利润两位数增长，增速达26.8%，拉动当月全部规模以上工业企业利润增长6.1个百分点，成为工业企 业高质量发展的重要动力。 企业效益方面，1~9月份，规模以上工业企业营业收入利润率为5.26%，同比提高0.04个百分点；其中， 9月份规模以上工业企业营业收入利润率为5.49%，同比提高0.85个百分点，已连续两个月提高。 庞溟分析，从利润角度看，9月份营收利润率为5.49%，与8月份利润率相比大致保持稳定，且每百元营 业收入中的成本和费用继续环比减少，表明企业在成本控制和产品结构优化方面继续取得积极进展。 庞溟表示，9月工业企业利润增长面和回升面进一 ...

Core Viewpoint - The National Financial Regulatory Administration aims to enhance support for major strategies, key areas, and weak links in the economy, focusing on modern industrial system construction and new productivity development [1] Group 1: Financial Support and Policy - The administration will increase financial resources for traditional industries' optimization, emerging industries, and future industries, emphasizing intelligent, green, and integrated development [1] - Policies will be improved to support long-term capital investment, particularly in hard technology, ensuring comprehensive financial security throughout the investment cycle [1] Group 2: Domestic Demand and Consumption - The administration will strengthen funding supply for major projects to boost consumption and upgrade the market [1] - Trade financing and export credit insurance services will be optimized to facilitate the integration of domestic and international trade, enhancing the dual circulation of the economy [1] Group 3: Financial Inclusion and Social Welfare - The administration aims to effectively meet financial needs in education, healthcare, and other public welfare sectors, expanding coverage for small and micro enterprises, private businesses, and rural areas [1] - There will be efforts to enrich pension and health insurance products and improve disaster insurance protection systems [1]

Group 1 - The core viewpoint emphasizes the strategic decision made by the Central Committee, led by Xi Jinping, to accelerate the construction of a new development pattern, which is crucial for maintaining China's development initiative [1] - The "dual circulation" development pattern was conceived in response to the changes in the global environment due to the pandemic, highlighting the need for new development strategies [1] - The "14th Five-Year Plan" period has seen significant contributions from domestic demand, with an average contribution rate of 86.4% to economic growth from 2021 to 2024 [2] Group 2 - China's goods trade volume is projected to grow from 32.2 trillion yuan in 2020 to 43.8 trillion yuan in 2024, reflecting an annual growth rate of 8.0% [2] - The focus on strengthening domestic circulation is seen as essential for countering uncertainties in international circulation, with a strategic emphasis on building a robust domestic economic system [2] - The Central Committee's commitment to expanding domestic demand is aimed at enhancing the internal dynamics and reliability of the domestic circulation [3] Group 3 - The importance of a strong domestic market is highlighted as a strategic foundation for China's modernization, supported by a well-developed industrial and infrastructure system [3] - The plan includes promoting urbanization, rural revitalization, and improving living standards to stimulate investment and consumption [3] - The Central Committee's deployment for expanding high-level opening-up reflects China's confidence in open cooperation and mutual benefits, with a 4% year-on-year increase in goods trade in the first three quarters of the year [4] Group 4 - Despite challenges from unilateralism and protectionism, the commitment to high-level opening-up and the Belt and Road Initiative aims to enhance the efficiency of domestic and international market interactions [4] - Historical resilience against external risks has been a key factor in China's ability to navigate challenges, emphasizing the importance of focusing on domestic development [4]

Group 1: Insurance Sector Development - The 2025 Financial Street Forum highlighted the direction for the insurance sector during the 14th Five-Year Plan, focusing on optimizing trade financing and export credit insurance to enhance cross-border services and promote domestic and international dual circulation [1] - The government has increased support for export credit insurance as part of policies to stabilize foreign trade, emphasizing its role in mitigating risks for exporters and contractors [3] - Export credit insurance is recognized as a tool for promoting foreign trade, covering political risks and commercial risks, ultimately safeguarding the interests of domestic exporters and overseas investors [3] Group 2: Financial Services for Livelihoods - The insurance sector is urged to meet financial needs in education, health, and other livelihood areas, with a focus on developing pension and health insurance products to address the growing demand due to aging populations [4] - There is a shift in pension and health insurance from optional to essential, prompting insurers to innovate products and services that cater to these needs [4] - Insurers are encouraged to integrate health management with insurance offerings, creating a comprehensive health ecosystem to better serve the aging population [4] Group 3: Disaster Risk Management - The insurance industry's role as a stabilizer in response to natural disasters has become increasingly important, with significant losses reported from recent weather events [5] - Policies are being developed to enhance the catastrophe insurance system, aiming to create a robust risk management framework for natural disasters [5] - Collaboration among government, market, and society is essential to establish an effective disaster risk management system that can improve societal resilience to climate uncertainties [5]

Core Viewpoint - The speech by Li Yunzhe at the 2025 Financial Street Forum emphasizes the importance of strengthening financial support to ensure the high-quality development of the economy and society during the "14th Five-Year Plan" and moving forward into the "15th Five-Year Plan" period [1] Group 1: Economic and Financial Adaptability - The focus is on enhancing economic and financial adaptability to promote sustainable and healthy economic development, with a new financial service model that balances direct and indirect financing, investment in goods and people, and aligns financing terms with industrial development [2] - There is a commitment to support major strategies and key areas, particularly in smart, green, and integrated development, to provide more financial resources for traditional and emerging industries [2] - The strategy includes optimizing trade financing and export credit insurance to facilitate domestic and international trade integration, thereby enhancing domestic and international dual circulation [2] Group 2: Reform and Opening Up - The plan includes deepening reforms and expanding openness in the financial sector to enhance development momentum and vitality, focusing on structural reforms in financial supply [3] - There is an emphasis on building a modern financial institution system and promoting differentiated development among various financial institutions to create a healthy financial ecosystem [3] - The initiative aims to improve the international operational capabilities of Chinese financial institutions and actively participate in international financial governance reform [3] Group 3: Financial Development and Security - The need to balance financial development with security is highlighted, with a focus on preventing systemic financial risks and enhancing risk management frameworks [4] - Measures will be taken to improve the efficiency of financial regulation and to establish a clear and effective regulatory framework [4] - The strategy includes strengthening international cooperation in financial regulation to address major risks and challenges globally [4] Group 4: Financial Development in Beijing - The speech notes that during the "14th Five-Year Plan" period, Beijing has made significant progress in implementing the "Four Centers" strategic positioning, with a focus on attracting quality financial resources to support high-quality economic and social development [5] - The establishment of financial asset investment companies by major banks in Beijing is mentioned as part of the ongoing efforts to enhance the financial ecosystem in the capital [5]

Core Viewpoint - The article emphasizes the strategic decision made by the Chinese government to accelerate the construction of a new development pattern, focusing on strengthening domestic circulation while optimizing the domestic and international dual circulation system [1][2]. Group 1: Economic Growth and Domestic Circulation - The average contribution rate of domestic demand to economic growth from 2021 to 2024 is projected to reach 86.4% [2]. - The total import and export volume of goods is expected to increase from 32.2 trillion yuan in 2020 to 43.8 trillion yuan in 2024, with an annual growth rate of 8.0% [2]. - The article highlights the importance of a strong domestic market as a strategic foundation for China's modernization, leveraging the vast market potential of over 1.4 billion people [3]. Group 2: Investment and Consumption - The article discusses the need to promote a virtuous cycle of investment and consumption, emphasizing the integration of improving people's livelihoods and stimulating consumption [3]. - It advocates for the construction of a unified national market to eliminate barriers and enhance market efficiency, thereby releasing the benefits of China's large-scale market [3]. Group 3: International Cooperation and Openness - The article outlines the commitment to expand high-level opening-up, despite challenges from unilateralism and protectionism, with a focus on maintaining a multilateral trade system [4]. - It notes that in the first three quarters of the year, China's goods trade imports and exports grew by 4% year-on-year, with exports increasing by 7.1% [4].

Core Insights - The 2025 Financial Street Forum focuses on "Innovation, Transformation, and Reshaping of Global Financial Development" [1] - Li Yunzhe emphasizes the importance of financial support for high-quality economic and social development during the "14th Five-Year Plan" and outlines goals for the "15th Five-Year Plan" [1][4] Group 1: Financial Adaptability - The need to create a new financial service model that balances direct and indirect financing, investment in goods and people, and aligns financing terms with industry development [3] - Support for major strategies and key areas to enhance the quality and reasonable growth of the economy [3] Group 2: Modern Industrial System and New Productivity - Focus on intelligent, green, and integrated directions to provide more financial resources for traditional industries and emerging sectors [4] - As of September 2025, loans in key areas like technology, green initiatives, and digital economy are growing significantly faster than overall loan levels, with green loans leading at a 22.9% growth rate [4] Group 3: Reform and Opening Up - Emphasis on deepening financial supply-side structural reforms to enhance institutional layout and international influence [6] - Encouragement for financial institutions to focus on their core businesses and engage in differentiated competition to build a healthy financial ecosystem [6] Group 4: Financial Development and Security - Commitment to risk prevention and maintaining systemic financial stability amid global economic uncertainties [8] - As of October 15, 2025, 326 banks have exited the market through dissolution, merger, or cancellation, indicating a significant increase in the consolidation of local banks [9] Group 5: Regulatory Framework - Continuous improvement of financial regulatory effectiveness and the establishment of a tiered regulatory framework [9] - Call for enhanced global cooperation to strengthen the global financial safety net and improve crisis management efficiency [9]

金融监管总局还将进一步深化金融供给侧结构性改革，促进机构布局更加合理，发展质量和韧性持续增 强，国际影响力明显提升，推动金融制度型开放向更宽领域、更深层次迈进，全面落实准入前国民待遇 加负面清单管理制度。不断提高中资机构跨国经营管理能力，有力保障高质量共建"一带一路"。积极参 与国际金融治理改革，为完善国际金融监管规则和行业标准贡献更多中国智慧。 金融监管总局还将更好统筹金融发展和安全，以新安全格局保障新发展格局，坚定履行防风险首位主 责，积极识变应变求变，牢牢守住不发生系统性金融风险底线。 李云泽表示，下一步，金融监管总局将一如既往推动更多金融政策在京先行先试，引导更多优质金融资 源汇聚首都，助力首都经济社会高质量发展再上新台阶。 10月27日，金融监管总局局长李云泽在2025金融街论坛年会上表示，金融监管总局将着力提升经济金融 适配性，更好促进经济社会持续健康发展，同时坚定不移深化改革扩大开放，不断增强金融业发展动力 和活力。 着力提升经济金融适配性方面，金融监管总局将推动构建直接融资与间接融资协同、投资于物与投资于 人并重、融资期限与产业发展匹配、国内市场与国际市场联动的金融服务新模式，强化对重大战略、 ...

【导读】 国家金融监督管理总局局长 李云泽：提升经济金融适配性，更好促进经济社会持续健 康发展 中国基金报记者 晨曦 10 月 27 日，国家金融监督管理总局局长李云泽出席 2025 金融街论坛年会开幕式，并发表 演讲。李云泽的演讲主题为 " 强化金融支撑 守牢风险底线 全力服务 ' 十五五 ' 经济社会高 质量发展 " 。 来看此次演讲的重点内容： 着力提升经济金融适配性 更好促进经济社会持续健康发展 李云泽表示，金融监管总局将推动构建直接融资与间接融资协同、投资于物与投资于人并 重、融资期限与产业发展匹配、国内市场与国际市场联动的金融服务新模式，强化对重大战 略、重点领域和薄弱环节的支持，助力经济实现质的有效提升和量的合理增长。 高效服务现代化产业体系建设和新质生产力发展。聚焦智能化、绿色化、融合化方向，为传 统产业优化提升、新兴产业和未来产业培育壮大提供更多金融资源。锚定高水平科技自立自 强，完善长期资本投早、投小、投长期、投硬科技的支持政策，强化全周期综合金融保障， 推动科技创新和产业创新深度融合。 有力支持构建新发展格局。围绕扩大内需这个战略基点，强化重大项目资金供给，助推消费 扩容升级。优化贸易融 ...