中经记者 孟庆伟 北京报道 9月22日下午，备受关注的"十四五"时期金融业发展成就发布会在国新办举行。中国人民银行行长潘功 胜，国家金融监督管理总局局长李云泽，中国证监会主席吴清，中国人民银行副行长、国家外汇管理局 局长朱鹤新出席发布会，介绍"十四五"时期金融业发展成就，并答记者问。 潘功胜表示，"十四五"期间，我国金融事业取得了新的重大成就。截至今年6月末，我国银行业总资产 近470万亿元，居世界首位；股票、债券市场规模居世界第二；外汇储备规模已连续20年位居世界第 一。 针对外界期待的"是否会有新政策出台"，潘功胜在发布会一开始就明确表示，本次发布会不涉及短期政 策调整。关于"十五五"及下一步的金融改革安排，将在中央统一部署后对外沟通。 金融体制改革全面深化 记者在会上了解到，"十四五"期间，人民银行有序化解重点领域金融风险，守住了不发生系统性金融风 险的底线。 扩展，满足不同生命周期企业的融资需求。"十四五"时期，科技型中小企业贷款、普惠小微贷款和绿色 贷款年均增速均超过20%。特别是2024年9月中央政治局会议以来，人民银行出台一系列货币金融政策 举措，有效稳定预期、提振信心，推动经济持续回升向好。 ...

Core Viewpoint - The article discusses the significant achievements of China's financial sector during the "14th Five-Year Plan" period, highlighting reforms, risk management, and the enhancement of financial services to support the real economy. Group 1: Financial Sector Achievements - China's financial sector has made substantial progress, with total banking assets reaching nearly 470 trillion yuan, ranking first globally, and stock and bond market sizes ranking second worldwide [4] - The financial system has seen a comprehensive deepening of reforms, with improved governance and a more robust financial service framework, leading to enhanced quality, efficiency, and inclusiveness of financial services [4][5] - The average annual growth rate of loans to technology-based small and medium-sized enterprises, inclusive micro-enterprises, and green loans exceeded 20% during the "14th Five-Year Plan" [5] Group 2: Financial Risk Management - Significant progress has been made in preventing and resolving financial risks, with a focus on orderly handling of key risk areas and maintaining the stability of the financial system [6][14] - The financial system remains generally stable, with financial institutions in good health and the market operating smoothly [6][14] - The article emphasizes the importance of a unified leadership from the central government in managing financial risks effectively [15] Group 3: Financial Market Development - The capital market has seen a notable increase in the proportion of technology sector market capitalization, now exceeding 25%, which is significantly higher than the combined market capitalization of banking, non-banking financial, and real estate sectors [26][27] - The regulatory framework for capital markets has been strengthened, with the implementation of new securities laws and the establishment of a more comprehensive market system [26][28] - The article highlights the improvement in market transparency and fairness, with increased enforcement against financial misconduct [27] Group 4: Future Directions - The People's Bank of China plans to continue deepening reforms and enhancing the central bank's macro-prudential and financial stability functions to support high-quality economic development [10][16] - There is a commitment to maintaining a balance between growth and risk prevention, ensuring the stability of the financial market and the renminbi exchange rate [11][17] - The focus will be on further enhancing the openness of the financial sector and improving the regulatory framework to support a higher level of financial security [22][33]

22日举行的"高质量完成'十四五'规划"发布会上，中国人民银行行长潘功胜说，我国金融事业取得新的 重大成就，截至今年6月末，银行业总资产近470万亿元，位居世界第一；股票、债券市场规模位居世界 第二；外汇储备规模连续20年位居世界第一……跟随海报，一起了解。 新华社权威速览 ·非凡"十四五 盒融体制改革进一步 设立中央金融委员会、中央金融工作委员会 加强党中央对金融工作的集中统一领导 加快构建现代金融体系 着力推动我国金融业高质量发展 新华社权威速览 ·非风 "十四五 金融服务实体经济质效大幅提 坚持支持性的货币政策立场 中国特色现代货币政策框架初步形成 有力支持国家重大战略、经济社会发展的 重点领域和薄弱环节 "十四五"时期,科技型中小企业贷款、普惠小微 绿色贷款年均增速超过20% 新华社权威速览 ·非风 "十四五 金融业改革开放持续推进 持续推动金融供给侧结构性改革,深化金融机构改 发展多层次金融市场,优化金融结构 稳步推动金融业高水平双向开放 提升制度型开放水平 在国际金融治理合作中的参与度、影响力、话语权 显著提高 策划：令伟家 统筹：于卫亚 文案：李依伦、冯松龄 制作：卓越 ...

Core Viewpoint - The article highlights the significant achievements of China's financial sector during the "14th Five-Year Plan" period, emphasizing the deepening of financial reforms, enhancement of financial services to the real economy, and the ongoing efforts to mitigate financial risks while promoting high-quality development [6][10]. Financial System Reform - The financial system reform has been further deepened, with the establishment of the Central Financial Commission and the Central Financial Work Committee to strengthen the centralized leadership of the Party over financial work [6][7]. - The banking sector's total assets reached nearly 470 trillion yuan, ranking first in the world, while the stock and bond markets ranked second globally [6][7]. Financial Services to the Real Economy - Financial services to the real economy have significantly improved, with annual growth rates exceeding 20% for loans to technology-based SMEs, inclusive small and micro enterprises, and green loans during the "14th Five-Year Plan" [7][10]. - The banking and insurance sectors provided an additional 170 trillion yuan in funding to the real economy over the past five years [15]. Financial Industry Reform and Opening Up - The financial supply-side structural reform has been continuously promoted, with a focus on developing a multi-level financial market and optimizing the financial structure [9][10]. - The number of financial institutions has decreased from over 4,600 in 2019 to 4,295 by the end of 2024, indicating effective risk mitigation efforts [44]. Risk Prevention and Mitigation - Significant progress has been made in preventing and mitigating financial risks, with a focus on orderly handling of high-risk institutions and reducing the scale of high-risk assets [9][44]. - The overall health of the financial system has been maintained, with key regulatory indicators such as non-performing loans and capital adequacy remaining stable [15][16]. Capital Market Development - The capital market has seen substantial growth, with the total market value of A-shares surpassing 100 trillion yuan for the first time [21][22]. - The direct financing ratio has increased to 31.6%, reflecting a steady rise in the importance of direct financing in the economy [22]. Foreign Exchange Management - The foreign exchange market has operated steadily, with foreign exchange reserves remaining above 3 trillion USD, providing a strong stabilizing effect on the economy [29][30]. - The cross-border capital flow has remained balanced, with the international balance of payments showing resilience despite external pressures [29][30]. Future Outlook - The People's Bank of China aims to continue enhancing the financial system and supporting high-quality economic development in the "15th Five-Year Plan" period [10][40]. - The focus will be on building a more open, secure, and efficient foreign exchange management system to contribute to the modernization of China's economy [30][31].

Group 1: Achievements in Financial Sector - The financial sector in China has achieved significant milestones during the "14th Five-Year Plan" period, with total banking assets reaching nearly 470 trillion yuan, ranking first globally [2] - The stock and bond markets are the second largest in the world, while foreign exchange reserves have maintained the top position for 20 consecutive years [2] - China leads in green finance, inclusive finance, and digital finance, establishing a comprehensive and efficient cross-border payment network [2] Group 2: Financial System Reforms - Financial system reforms have deepened, with the establishment of the Central Financial Committee and the Central Financial Work Committee to enhance leadership and governance [2] - The modern financial system is being constructed to align with the six key elements required for a strong financial nation, promoting high-quality development [2] Group 3: Support for Real Economy - The effectiveness of financial services to the real economy has significantly improved, with a supportive monetary policy framework aiding economic goals [3] - Loans to technology SMEs, inclusive small and micro enterprises, and green loans have seen annual growth rates exceeding 20% [3] Group 4: Financial Risk Management - Important progress has been made in preventing and mitigating financial risks, with effective measures taken to address prominent risk points [4] - The overall financial system remains stable, with healthy financial institutions and smooth market operations [4] Group 5: Banking and Insurance Sector Growth - The total assets of the banking and insurance sectors have surpassed 500 trillion yuan, with an average annual growth of over 9% in the past five years [5][6] - New funding provided to the real economy through various channels has reached 170 trillion yuan, with significant growth in loans for technology, manufacturing, and infrastructure [5] Group 6: Capital Market Developments - The A-share technology sector now accounts for over 25% of the market capitalization, with an increase in the number of technology companies among the top 50 listed firms [7][8] - Companies have significantly increased their return to investors, with total dividends and buybacks reaching 10.6 trillion yuan, an increase of over 80% compared to the previous five years [8] Group 7: Foreign Exchange Reserves Stability - Since the beginning of the "14th Five-Year Plan," foreign exchange reserves have remained stable above 3 trillion USD, contributing to economic stability [9] - The international balance of payments has shown resilience, with a balanced current account and active cross-border investment [9]

Group 1 - The core viewpoint emphasizes the necessity of financial credit support for urban village renovation, with the Shanghai government issuing implementation opinions to accelerate this process [1][2] - Financial institutions are encouraged to learn from the "Ten Thousand Projects" experience, establishing development ledgers to enhance financial service capabilities for urban village renovation [2][3] - The current financial reform presents an opportunity for banks to transition from product selling to service provision, with urban village renovation serving as a key development outlet [3] Group 2 - The article highlights the importance of breaking down barriers in financial capital to promote collaborative innovation in financing for urban village renovation [1][3] - It discusses the challenges faced by the banking sector, particularly the downward trend in interest rates, which necessitates proactive measures from commercial banks [3] - The narrative includes a personal account from a resident in a renovated urban village, illustrating the positive impact of such projects on living conditions and community well-being [3]

Core Viewpoint - The China Financial Workers' Union has announced the dissolution of several cultural and sports associations to streamline management and better serve financial employees [3][4]. Group 1: Cultural Associations - The China Financial Literary and Art Federation, along with seven associated cultural associations, has been dissolved. These include the China Financial Calligraphers Association, China Financial Artists Association, China Financial Photographers Association, China Financial Writers Association, China Financial Drama Association, China Financial Musicians Association, and China Financial Dancers Association [3][4][6]. - The China Financial Literary and Art Federation was established on April 20, 2012, and was a national financial artistic organization under the leadership of the China Financial Workers' Union [6]. Group 2: Sports Associations - The China Financial Sports Association and its management of eight sports associations have also been dissolved. These include the China Financial Tennis Association, China Financial Table Tennis Association, China Financial Basketball Association, China Financial Poker Association, China Financial Bridge Association, China Financial Go Association, China Financial Badminton Association, and China Financial Walking Association [3][4]. - All employee cultural and sports activities organized by the China Financial Workers' Union will now be conducted under the name of the Union or its relevant departments [4].

Core Viewpoint - The rapid development of the renewable energy industry in China is reshaping traditional financial financing models, with public REITs (Real Estate Investment Trusts) in the renewable sector emerging as a significant innovation in the financial system, reflecting the government's commitment to market-oriented financial development [1][2]. Policy Support - The growth of renewable energy REITs is supported by national policies emphasizing the importance of the renewable energy sector and financial market reforms. In July 2024, the National Development and Reform Commission included energy storage and flexible coal power in the REITs asset scope, with further policy enhancements in 2025 to support the issuance of REITs for clean energy projects [2][3]. Capital Bridging - Renewable energy REITs facilitate the connection between social capital and renewable projects through asset securitization, enhancing asset liquidity and providing stable returns for investors. They help renewable companies optimize financing structures and improve capital efficiency, while also enriching the capital market's product offerings [3][4]. Legislative Support - The China Securities Regulatory Commission is advancing REITs-specific legislation to establish a clear legal framework for renewable energy REITs, addressing issues such as property rights and tax treatment, which will enhance project attractiveness and investment returns [4][5]. Demonstration Effect - Successful projects like the CITIC Construction Investment National Energy Investment REIT and the AVIC Jingneng Photovoltaic REIT have shown strong market performance, with significant increases in unit prices and operational efficiency, setting a precedent for future projects [5][6]. Future Outlook - The renewable energy REITs market is expected to diversify and become more inclusive, with encouragement for private enterprises to participate and the expansion of asset sources. As legislative and market mechanisms improve, renewable energy REITs are poised to become a benchmark for financial reform and a key driver in achieving China's dual carbon goals [6].

Group 1: Hot News - Six departments including the People's Bank of China jointly issued the "Guiding Opinions on Financial Support for Boosting and Expanding Consumption", aiming to keep liquidity abundant and lower the comprehensive social financing cost, and increase support for consumer - related business entities [2] - The People's Bank of China will conduct 300 billion yuan of MLF operations on June 25, 2025 [2] - At the 12th plenary session of the 14th National Committee of the Chinese People's Political Consultative Conference, Yi Gang proposed to deepen the financial system reform and strengthen financial support for the private economy and technological innovation [2] - Fed Chairman Powell stated that the Fed is focused on its dual - mission goals. The economy is in a solid position, inflation has dropped significantly but is still above the 2% target. Future interest - rate paths are variable depending on inflation and labor - market conditions [3] Group 2: Plate Performance - Key sectors to focus on are fuel oil, butadiene rubber, soda ash, urea, and coking coal [4] - Night - session performance: Non - metallic building materials rose 2.63%, precious metals rose 28.56%, oilseeds rose 12.61%, non - ferrous metals rose 2.80%, soft commodities rose 19.21%, coal - coke - steel - ore rose 13.33%, energy rose 3.62%, chemicals rose 13.02%, grains rose 1.42%, and agricultural and sideline products rose 2.81% [4] Group 3: Plate Position - The document shows the position changes of commodity futures sectors in the past five days, with specific data presented in a chart including sectors like Wind agricultural and sideline products, Wind grains, etc. [5] Group 4: Performance of Major Asset Classes - Equity: Shanghai Composite Index rose 1.15% daily, 2.18% monthly, and 2.05% annually; S&P 500 rose 1.11% daily, 3.05% monthly, and 3.58% annually; Hang Seng Index rose 2.06% daily, 3.81% monthly, and 20.52% annually, etc. [6] - Fixed - income: 10 - year treasury bond futures fell 0.11% daily, rose 0.28% monthly, and rose 0.09% annually; 5 - year treasury bond futures fell 0.07% daily, rose 0.16% monthly, and fell 0.33% annually [6] - Commodity: CRB commodity index fell 2.65% daily, rose 2.25% monthly, and rose 0.08% annually; WTI crude oil fell 5.06% daily, rose 7.10% monthly, and fell 9.57% annually [6] - Others: US dollar index fell 0.42% daily, 1.48% monthly, and 9.69% annually; CBOE Volatility Index had 0.00% daily change, 6.79% monthly change, and 14.29% annual change [6]

Core Viewpoint - The article emphasizes the importance of financial development in China's modernization and economic stability, highlighting the need for a unique Chinese approach to financial growth and governance [1][9][45]. Group 1: Historical Context and Development - The Central Financial Work Conference held in October 2023 marked a significant step in defining the goal of building a financial power in China, reflecting the evolution of Xi Jinping's economic thoughts on finance [3][45]. - Xi Jinping's early work in Fujian laid the groundwork for innovative financial practices, such as securing international loans for infrastructure and supporting local enterprises like Xiamen Airlines [5][11][12]. Group 2: Financial Stability and Economic Growth - Financial stability is crucial for the overall economy, as it directly impacts national security and social cohesion [4][9]. - The relationship between finance and the economy is described as interdependent, where a robust financial system supports economic activities and vice versa [22][31]. Group 3: Financial Services and Innovation - The article discusses the role of financial services in supporting technological and industrial innovation, with a focus on enhancing financial products to meet the needs of high-tech industries [27][30]. - The establishment of financial institutions like Xiamen International Bank has been pivotal in providing necessary funding for local economic development and financial reform [37][41]. Group 4: Rural and Inclusive Finance - Emphasis is placed on the importance of rural financial services in poverty alleviation and economic development, with initiatives to enhance access to credit for rural communities [32][36]. - The development of inclusive finance has been a priority, ensuring that financial services reach underserved populations and contribute to overall economic growth [33][36]. Group 5: Financial Reform and Risk Management - The article highlights the ongoing need for financial reform to address deep-seated issues within the financial system, advocating for a comprehensive approach to risk management [42][43]. - Xi Jinping's leadership has been characterized by a proactive stance on preventing financial risks, ensuring the stability of the financial system [43][44].