来源：中国金融家杂志 平安养老保险股份有限公 司党委书记、董事长 甘为民 灵蛇辞岁去，骏马迎春来。在这个辞旧迎新的重要时刻，我谨代表平安养老保险股份有限公司，向《中 国金融家》杂志的广大读者们，向长期在养老金融事业默默耕耘的同仁们，向长期关心支持平安养老险 的朋友们，致以最诚挚的祝福，祝愿大家新春快乐、阖家幸福！ 新春畅想 责任编辑：曹睿潼 来源：中国金融家杂志 2026年是"十五五"开局之年，是中国共产党建党105周年，也是落实积极应对人口老龄化国家战略和加 快建设金融强国的重要一年。作为养老金融行业的一员，我们既是这些伟大事业的见证者，更是参与 者、建设者。在这一重要历史节点，我们将以高度的责任感和使命感，助力国家加快建设应对人口老龄 化的养老金融体系。 锚定"十五五"，勇担新使命。作为第一家冠以"养老"字样的持牌金融机构，平安养老险目前管理的年金 资产规模已超万亿元。20多年来，我们深知使命光荣、责任重大，认识到年金既是老百姓的"养老钱"， 也是国家养老保险体系的重要支柱。"十五五"期间，我们将继续深耕养老主业，贯彻国家对保险资金、 年金基金等中长期资金入市的要求，强化数字化转型，优化投资策略，为老百姓 ...

来源：中国金融家杂志 新春畅想 新春伊始，万象更新。让我们以金融报国的责任担当，在"十五五"的壮阔征程中，共同书写金融服务中 国式现代化的崭新篇章！ 责任编辑：曹睿潼 来源：中国金融家杂志 光大永明人寿保险有限 公司党委书记、董事长 张晨松 值此2026年新春来临之际，我谨代表光大永明人寿，向《中国金融家》杂志、广大读者及长期支持我们 的各界朋友致以最诚挚的新春祝福！ 党的二十届四中全会对"十五五"时期加快建设金融强国作出战略部署，明确提出"优化金融机构体系， 推动各类金融机构专注主业、完善治理、错位发展"等一系列要求，为做好新时代新征程金融工作提供 了根本遵循和行动指南。 回望2025年，我国金融业在高质量发展道路上稳步前行，光大永明人寿在光大集团的正确领导下，深入 贯彻落实党中央重大决策部署，始终坚持将自身发展融入国家战略全局，坚定落实金融工作的政治性、 人民性，在服务实体经济、防控金融风险、深化改革创新中展现责任担当，实现了经营质量与风险抵御 能力的同步提升，为"十五五"的良好开局打下了坚实基础。 面向新征程，光大永明人寿将紧跟国家战略部署：一是不断提升金融"五篇大文章"服务质效，充分发挥 保险资金耐心 ...

Core Viewpoint - The company emphasizes its commitment to aligning with national goals and enhancing its core competitiveness while actively participating in the construction of a strong financial nation, aiming for high-quality development during the "14th Five-Year Plan" period [1][11]. Group 1: Implementation of Party's Guidelines - The company has actively implemented the spirit of the 20th Central Committee, organizing over 780 collective study sessions and nearly 260 concentrated publicity activities for employees [1][2]. - The company has undergone internal audits and inspections, resulting in a purified political ecosystem and more standardized operational mechanisms [2]. Group 2: Focus on Real Economy - The company has shifted its focus from merely facilitating IPOs to providing comprehensive support for listed companies, enhancing their operational standards and value [2]. - It has prioritized green finance, significantly increasing its issuance and underwriting of green bonds, supporting projects in clean energy and transportation [2]. Group 3: Governance and Risk Management - The company has strengthened its governance by integrating party leadership into all governance aspects, enhancing the effectiveness of its governance structure [4]. - A comprehensive risk management system has been established, with over 20 new or revised regulations to meet regulatory requirements by 2025 [6]. Group 4: Investment Banking Development - The company aims to build a first-class service-oriented investment bank, with a target of achieving a record high in financing for the real economy by 2025, reflecting a 10% year-on-year increase [5]. - It has successfully launched several market-first projects, including technology innovation bonds and real estate asset-backed securities [5]. Group 5: Talent and Cultural Development - The company is focused on building a high-quality talent pool, implementing training programs that have reached over 8,000 participants [7]. - It promotes a unique financial culture, integrating cultural values into its operational framework and enhancing its influence in the industry [8]. Group 6: Commitment to Social Responsibility - The company is dedicated to serving the real economy and fulfilling its social responsibilities, actively participating in initiatives that support rural revitalization and public welfare [10]. - It aims to enhance its product offerings to better meet the wealth management needs of residents, while also responding to social responsibility assessments [10].

各位投资者，大家好，我是东吴证券的首席经济学家鲁哲。在这里，我跟大家交流讨论一 下我们这次对货币政策近期的一些判断。这就是我们每天一次的这个早班机，每天 10 分 钟，我们都会跟大家交流交流市场观点、经济变化或者重要的事件，一些回顾梳理。近期 我们能够感觉到，其实对市场的降息预期又有所提升。那么站在这个时点，其实也即将进 入春节，然后很快又是两会，这样的一个分歧或者说预期有变化也是比较正常的。但实际 上我们相对的看法，首先我们认为近期或者一季度，大概率不太可能会出现类似降息这样 的行为。 全年的降息次次数，我们觉得 0~1 次，应该也不会特别多或者特别大的这个量，10 个 BP 左右。那么降准，全年的概率相对大一些。我们觉得，比如说一到两次，大概，比如说 50 个 BP 左右，这是我们整体的对这个降息降准的全年和这个当季度的一个判断。首先我们 为什么说觉得近期，一季度不像是有太大可能性去操作 OMO、 LPR 这种政策利率下调的 原因。第一就是我们非常清楚，现在目前降息最核心的制约因素，最核心的掣肘是什么？ 非常明显，就是银行的净息差问题。 十年之前降 10 个 BP，和十年之后的今天降 10 个 BP 是不 ...

来源：中国金融家杂志 新春畅想 记、董事长 李晓刚 岁律更新，春启新元。值此2026年新春佳节，谨向《中国金融家》的读者朋友们及所有关心支持海南农 商银行发展的各界同仁，致以诚挚的祝福与衷心的感谢！ 自全省统一法人改革以来，海南农商银行根基日固、稳健前行。2025年，我们坚持党建引领，紧扣自贸 港封关运作的时代步伐，在深耕本土中筑牢根基，在改革创新中勇毅突破。这一年，我们坚守支农支小 海南农商银行党委书 初心，涉农贷款增量稳居全省前列，"机器管三资"平台惠及万千乡村；紧抓开放机遇，跨境业务实现跨 越式增长，全力服务自贸港重点项目建设；总资产突破4100亿元，对地方税收贡献持续位居前列，荣获 双 AAA 评级，跻身中国银行业百强……我们以实干交出了高质量发展的答卷。 2026年是"十五五"规划开局之年，海南自贸港建设迈向新阶段，金融强国使命在肩。作为地方法人银 行，我们将锚定时代责任：坚持以高质量党建统领全局，深耕自贸港沃土，聚焦现代化产业、新质生产 力与乡村振兴，创新跨境金融产品，引导金融活水精准灌溉实体经济；加速数字化转型，提升普惠金融 服务的温度与效率；严守合规底线，健全全面风险管理体系，筑牢自贸港金融安 ...

Core Viewpoint - The article emphasizes the strategic role of Huaxin Securities in supporting China's modernization and financial strength during the "14th Five-Year Plan" and the upcoming "15th Five-Year Plan" [1][9]. Group 1: Strategic Focus - Huaxin Securities aims to leverage its unique position as a service provider in direct financing, capital market oversight, and wealth management to fulfill its historical mission [1]. - The company is committed to a differentiated development path, focusing on supporting the real economy, promoting technological innovation, and optimizing resource allocation [1][2]. Group 2: Financial Innovation and Services - The company has positioned bond financing and asset securitization as key areas to address financing challenges for enterprises, utilizing financial innovation and digital technology [2]. - Huaxin Securities successfully issued its first technology innovation corporate bond during the "14th Five-Year Plan," with a steady increase in underwriting scale [2][3]. - The company plans to expand its green bonds and technology innovation bonds, establishing a collaborative mechanism for comprehensive financing services in high-end manufacturing and new energy sectors [2][3]. Group 3: Digital Transformation - Since establishing its financial technology strategy in 2017, Huaxin Securities has focused on technological innovation to enhance its service capabilities [4]. - The company has developed a unique "AI + Finance" service ecosystem, achieving a transition from "tool empowerment" to "system support" during the "14th Five-Year Plan" [4][5]. - Huaxin Securities has created a smart investment research platform, "Xin i," which supports investment research personnel with intelligent processes and extensive data assets [5]. Group 4: Risk Management and Compliance - The company emphasizes the importance of compliance and risk management as foundational elements for high-quality development [6]. - Huaxin Securities has established a comprehensive risk control system, integrating AI and big data technologies to enhance its risk monitoring capabilities [6]. - The company aims to balance risk prevention with business development through a dynamic risk management model [6]. Group 5: Cultural Development - Huaxin Securities integrates cultural development with its operational strategies, emphasizing the importance of industry culture for high-quality growth [7]. - The company promotes a "customer-first" philosophy and actively engages in social responsibility initiatives, including rural revitalization and charitable efforts [7][8]. - The integration of party-building and cultural initiatives is seen as essential for enhancing the company's soft power and supporting its development goals [8]. Group 6: Future Outlook - The company is poised to navigate new opportunities and challenges in the evolving global economic landscape during the "15th Five-Year Plan" [9]. - Huaxin Securities will continue to focus on data asset ABS and technology innovation bonds while enhancing its intelligent investment research capabilities [9].

"证券公司学习宣传贯彻党的二十届四中全会精神"系列报道 "党的二十届四中全会为中国式现代化建设擘画了宏伟蓝图，为新时代新征程的金融改革发展指明了前 进方向。"中银国际证券股份有限公司党委书记、董事长周权日前在接受中国证券报记者专访时作出上 述表示。 长风破浪，正当扬帆远航。在他看来，"十五五"是推进中国式现代化、加快建设金融强国的关键时期， 证券行业作为直接融资的主要"服务商"、资本市场的重要"看门人"、社会财富的专业"管理者"，肩负着 服务实体经济、守护投资者利益、助力国家战略落地的时代使命。 "十四五"，中银证券始终以党建为引领，以实干笃行促进稳健发展。展望"十五五"时期，中银证券将立 足中银集团综合金融服务平台的定位，探索差异化特色化发展新路径，奋力在建设金融强国的新征程上 贡献力量。 党建引领强根基 实干笃行促发展 周权表示，"十四五"以来，中银证券始终坚持党的领导，践行金融工作的政治性和人民性，坚持统筹发 展与安全，推动各项事业实现稳健发展，为"十五五"高质量发展奠定了坚实基础。 "中银证券始终把党的领导贯穿治理全过程，将党建写入公司章程，厘清党委、董事会等治理主体权责 边界，构建'权责法定、透明协 ...

Core Viewpoint - The article emphasizes the strategic direction of Huaxin Securities, focusing on leveraging technology and responsibility to enhance its role in the financial sector during the critical "14th Five-Year Plan" and the upcoming "15th Five-Year Plan" [1][9]. Group 1: Service to the Real Economy - Huaxin Securities aims to empower the real economy by focusing on bond financing and asset securitization, utilizing financial innovation to address corporate financing challenges [2]. - The company has successfully issued its first technology innovation corporate bond during the "14th Five-Year Plan," with a steady increase in underwriting scale to support local economic development and technological self-reliance [2]. - For the "15th Five-Year Plan," Huaxin Securities plans to expand its green bonds and technology innovation bonds, establishing a collaborative mechanism to provide comprehensive financing services for high-end manufacturing and new energy sectors [2][3]. Group 2: Digital Transformation and Professional Services - Since establishing its financial technology core strategy in 2017, Huaxin Securities has focused on technological innovation to enhance its business capabilities, creating a unique "AI + Finance" service ecosystem [4]. - The company has developed a digital system that supports various business scenarios, integrating AI and big data into risk management and operational processes [4][5]. - Huaxin Securities has launched a one-stop investment platform for professional investors and smart advisory combinations for retail investors, leading to a continuous growth in client asset scale [5]. Group 3: Compliance and Risk Management - High-quality development at Huaxin Securities is underpinned by a robust compliance and risk management framework, integrating cultural values into its operational ethos [6]. - The company has established a comprehensive risk control system, utilizing AI and big data to transition from passive responses to proactive risk monitoring [6]. - Huaxin Securities aims to enhance its risk management capabilities by developing cross-market risk transmission monitoring models during the "15th Five-Year Plan" [6]. Group 4: Cultural Development - The cultural foundation of Huaxin Securities is crucial for its high-quality development, with a focus on integrating party-building efforts into its operational strategy [7]. - The company emphasizes customer satisfaction as a core metric for business development, establishing a comprehensive customer service system [7]. - Huaxin Securities actively engages in social responsibility initiatives, supporting rural revitalization and green development through charitable trusts [7][8]. Group 5: Future Outlook - The "15th Five-Year Plan" presents new opportunities and challenges for the securities industry, with Huaxin Securities committed to digital transformation and distinctive business development [9]. - The company plans to deepen its focus on data asset ABS and technology innovation bonds, enhancing its intelligent research capabilities to better serve the real economy and empower investors [9].

"党的二十届四中全会为中国式现代化建设擘画了宏伟蓝图，为新时代新征程的金融改革发展指明了前 进方向。"中银国际证券股份有限公司党委书记、董事长周权日前在接受中国证券报记者专访时作出上 述表示。 长风破浪，正当扬帆远航。在他看来，"十五五"是推进中国式现代化、加快建设金融强国的关键时期， 证券行业作为直接融资的主要"服务商"、资本市场的重要"看门人"、社会财富的专业"管理者"，肩负着 服务实体经济、守护投资者利益、助力国家战略落地的时代使命。 "十四五"，中银证券始终以党建为引领，以实干笃行促进稳健发展。展望"十五五"时期，中银证券将立 足中银集团综合金融服务平台的定位，探索差异化特色化发展新路径，奋力在建设金融强国的新征程上 贡献力量。 ● 本报记者 林倩 党建引领强根基 实干笃行促发展 周权表示，"十四五"以来，中银证券始终坚持党的领导，践行金融工作的政治性和人民性，坚持统筹发 展与安全，推动各项事业实现稳健发展，为"十五五"高质量发展奠定了坚实基础。 "中银证券始终把党的领导贯穿治理全过程，将党建写入公司章程，厘清党委、董事会等治理主体权责 边界，构建'权责法定、透明协调、有效制衡'的现代金融企业治理机制 ...

□ 杨成长 袁宇泽 龚 芳 □ 2025年在内外部复杂环境的冲击下，资本市场围绕"固本强基"推出一系列长短结合的政策举措，在有 力维护市场稳定运行的基础上深化基础制度改革，着力打通制度堵点，为服务新质生产力发展和金融强 国建设奠定坚实的制度基础 □ "十五五"规划建议明确提出，"提高资本市场制度包容性、适应性，健全投资和融资相协调的资本市 场功能"。2026年是"十五五"开局之年，资本市场肩负更高使命，亟需通过全面深化改革，全面增强四 大核心服务能力：服务新质生产力发展的能力、提升居民财富管理水平的能力、支撑金融强国建设的能 力、推进高水平对外开放的能力 □ 展望2026年，资本市场改革预计围绕五个方面展开：一是优化多元融资体系，精准服务新质生产力发 展；二是深化投资端改革，打造"长钱长投"市场生态；三是固本强基，持续推动上市公司高质量发展； 四是稳中求进，提升资本市场运行的内生稳定性；五是以开放促发展，稳步扩大制度型开放 近年来，党中央、国务院持续高度重视资本市场发展。2025年，市场基础制度不断完善，有效支撑了市 场平稳运行。2026年是"十五五"开局之年。党的二十届四中全会通过的《中共中央关于制定国民经 ...