Core Insights - The Sanya International Forum and the Fifth Sanya Wealth Management Conference highlighted the theme of "Future Positioning of Hainan Free Trade Port and New Opportunities in Sanya" [1] - Financial technology and artificial intelligence are identified as core drivers for the transformation and upgrading of the wealth management industry post-Hainan's customs closure [3] Financial Technology and AI Applications - Financial institutions are expected to gather in Hainan, leading to demands for innovation in financial markets and infrastructure [3] - AI can significantly enhance investment research efficiency, reducing report writing discrepancies from over 25% to around 15% [8] - AI systems can generate personalized asset allocation suggestions based on client profiles, covering various financial products [10] - AI plays a crucial role in risk management and intelligent customer service, enhancing operational efficiency [10] Future Outlook for Sanya - Sanya is projected to become a hub for the globalization of the Renminbi, financial technology applications, and financial data services [3][13] - The wealth management sector is shifting from yield-driven to risk-driven models, increasing the demand for financial technology and data services [6] Infrastructure and Market Development - The influx of investors will lead to the establishment of new financial institutions and innovative market infrastructure [5] - The development of trading systems, including potential 24/5 trading models, is being explored to enhance transaction efficiency [5] Data Utilization and AI Integration - Data is becoming increasingly vital in Sanya, with a focus on providing global data related to the Renminbi [11] - The introduction of AI-friendly databases aims to facilitate easier access to relevant data for wealth management institutions [11] - AI's capabilities are being integrated into customer service processes, enhancing client interactions and satisfaction [10][13]

Group 1: Wealth Management Industry Trends - The wealth management industry is transitioning from a focus on single product sales to diversified, solution-oriented services, emphasizing the need for a variety of investment tools tailored to individual life cycles and wealth planning [1][3] - The industry is shifting from a product-centric approach to a client-centric model, highlighting the importance of understanding customer needs and providing diversified global asset allocation [1][3][4] Group 2: Opportunities from Hainan Free Trade Port - The official launch of the Hainan Free Trade Port is expected to create a convenient channel for global asset allocation, with policies facilitating cross-border asset management and the dual 15% tax policy providing tangible benefits [2][3] - Hainan's unique environment and service industry foundation are anticipated to attract a significant number of retirees, leading to emerging demands in retirement finance and wealth planning, thus presenting new growth opportunities for the wealth management sector [3][4] - The policies in Hainan are seen as advantageous for family trusts, enhancing their security, flexibility, and internationalization, which can support the establishment of robust asset isolation and inheritance structures [4] Group 3: Role of Technology in Wealth Management - Financial technology and artificial intelligence are identified as core drivers for the transformation and upgrading of the wealth management industry following the Hainan Free Trade Port's operations, necessitating innovative financial market and infrastructure development [4]

Core Viewpoint - The securities industry is undergoing a digital transformation driven by technology and AI, with increasing regulatory scrutiny on compliance in IT operations [1][4]. Group 1: Digital Transformation and Investment - The securities industry has significantly increased its investment in information technology, with 44 firms disclosing a total expenditure of 28.11 billion yuan in 2023, where 14 firms invested over 1 billion yuan, accounting for 70.46% of total investments [2]. - The focus of IT investment is shifting from quantity to quality, emphasizing optimization and application rather than mere expansion, with efficiency and output becoming key metrics [2]. - The introduction of domestic AI models like DeepSeek has accelerated the localization of AI deployment in the financial sector, with firms exploring AI applications across various business scenarios [2]. Group 2: Role of Chief Information Officers (CIOs) - The role of Chief Information Officers (CIOs) has become increasingly critical in securities firms, with many firms appointing new CIOs who possess strong backgrounds in both IT and securities management [3]. - CIOs are seen as key figures in driving digital transformation, responsible for coordinating IT strategy, governance, and risk management within the firm [3]. Group 3: Regulatory Environment and Compliance - Regulatory scrutiny in the IT sector has intensified, with several firms receiving penalties for inadequate risk management and compliance failures, highlighting the importance of system security and data compliance [4][5]. - The regulatory focus includes zero tolerance for system failures that affect investor rights, strict penalties for IT-related misconduct, and accountability measures extending to individual CIOs [5]. - The need for enhanced compliance management is emphasized, with firms required to adapt their IT departments from a purely operational role to one that integrates business management and compliance [6][7]. Group 4: Upgrading Compliance Management - The rapid development of financial technology necessitates a stronger emphasis on data permissions and compliance, with regulatory bodies stressing the importance of information isolation and monitoring [6]. - Firms are encouraged to improve their IT governance capabilities, enhance service continuity, and strengthen defenses against information security risks [7].

Core Viewpoint - The Hong Kong government anticipates an acceleration in economic growth to 3.2% in 2025, driven by strong export and investment performance, alongside a positive outlook for the stock and property markets [1] Group 1: Economic Outlook - The economy of Hong Kong is expected to maintain a positive momentum into 2026, with a focus on enhancing its role as an international financial center [1] - The growth in the stock market and real estate prices is contributing to a favorable market sentiment [1] Group 2: Financial Market Development - Hong Kong aims to strengthen its competitive edge in the stock market by attracting high-quality companies from Southeast Asia, the Middle East, and other regions to list in the city [1] - The government plans to diversify the financial market by accelerating the development of fixed income and currency markets, green finance, and fintech [1] - New opportunities will be actively explored, including commodity trading and international gold trading [1]

Core Viewpoint - The Hong Kong SAR government aims to enhance its status as an international financial center by improving its financial market competitiveness and attracting high-quality companies from various regions to list in Hong Kong [1] Group 1: Financial Market Development - The government plans to strengthen its advantages in financial markets, particularly in the stock market, to attract companies from Southeast Asia, the Middle East, and the Global South [1] - There is an emphasis on diversifying the local financial market by accelerating the development of fixed income and currency markets, green finance, and financial technology [1] - The government is also looking to explore new opportunities in commodity trading and international gold trading [1] Group 2: Renminbi Internationalization - The position of the Renminbi in global cross-border trade and investment is increasing, and Hong Kong is positioned as an offshore Renminbi business hub [1] - The government will support the cautious advancement of Renminbi internationalization through three main strategies: enhancing offshore Renminbi liquidity, optimizing related financial infrastructure, and enriching investment products and risk management tools [1]

12月27日，以"迈向'十五五' 建设金融强国"为主题的中国财富管理50人论坛2025年会在北京举行。中国财富管理50人论坛理事长、原银监会主席、证监会原 主席尚福林在致辞中表示，迈向"十五五"，加快建设金融强国，是质的有效提升和量的合理增长有机统一，是综合性、系统性、引领性的跃升。 尚福林指出，"十五五"时期金融发展仍将面临一些结构性和机制性挑战。比如，社会资金配置结构不平衡问题仍有待解决，低利率、低息差时代到来也增大 了资产配置难度，传统的融资和风控模式与新经济新业态的现实需求不够适配，民营、小微企业融资难、融资贵仍不同程度存在；直接融资占比有待提高， 资本市场投资和融资功能的协调性有待进一步增强，基础性制度仍需完善；高水平双向开放要求更高，跨境风险传染渠道更加多元、更加复杂；金融科技的 新业态、新技术带来的新型风险对金融监管提出更高要求。 "这些问题是'十五五'时期金融改革发展的重点，也是建设金融强国必须攻克的难关。"尚福林建议，一要更加聚焦金融服务实体经济的根本宗旨，努力做好 金融"五篇大文章"；二要持续深化金融体制改革，加快完善中国特色现代金融体系；三要更好统筹发展与安全，筑牢金融稳定防线；四要稳步 ...

Core Viewpoint - The China Wealth Management 50 Forum 2025 Annual Meeting emphasizes the theme of "Building a Financial Powerhouse in the 14th Five-Year Plan" and discusses the challenges and opportunities presented by the low interest rate environment in the asset management industry [1][7]. Group 1: Market Trends and Investor Behavior - The low interest rate environment has significantly shifted investor demand, leading clients to reduce real estate allocations and increase investments in financial assets. There is a growing demand for risk isolation and wealth planning rather than solely focusing on single product returns [3][9]. - The long-term low interest rate period in the U.S. from 2008 to 2022 saw a rise in the proportion of financial assets from 35% to 66%, with stock and mutual fund allocations increasing from 11% to 22%. The S&P 500 index achieved an annualized return of approximately 11% during this period [4][10]. Group 2: New Business Models and Services - Asset management institutions are encouraged to embrace new trends in the capital market, which can provide stable investment returns. The insurance sector has increased its allocation to stock funds, reaching 4.74 trillion yuan, a year-on-year increase of nearly 1 trillion yuan [4][10]. - Differentiated asset management services are being developed, with public funds focusing on ETF products, which have grown from a trillion-level scale in 2020 to 6 trillion yuan this year, with an increase of 2.2 trillion yuan in the current year [5][11]. - The trust industry is seeing a transformation with the introduction of asset service trusts, which have redefined the core functions of trusts, leading to a significant scale effect. As of June this year, the total scale of trust assets reached 32 trillion yuan, with service-type assets exceeding 11 trillion yuan [5][12]. Group 3: Meeting Diverse Client Needs - The demand for wealth inheritance and security is increasing, with the potential for residents to inherit assets reaching 20 trillion yuan. The trust industry aims to provide diversified asset allocation solutions to meet these evolving needs [6][12]. - The industry is focusing on long-term client relationships and providing multi-asset cross-cycle allocation strategies, embodying the buy-side advisory concept [6][12]. Group 4: Technological Empowerment - Financial technology is expanding the possibilities within the asset management industry. Integrating data models and decision-making processes through AI and information technology is essential for enhancing asset management capabilities unique to China [6][13].

【导读】企业家热议： AI 如何重塑金融服务业？内地金融科技如何全球布局？ 中国基金报记者 郭玟君 日前，在安永香港创新中心举行的，由中国基金报主办的 "2025 资本市场香港论坛 " 上， 香港投资推广署创新及科技、生命与健康科学总裁黄炜卓担任主持人，与四位专注于人工智 能（ AI ）赋能资产管理行业的企业高管进行了精彩对话。 这四位嘉宾分别是： 安永大中华区首席运营官及金融服务首席合伙人，安永亚太区金融科技及创新首席合伙人 忻 怡 前路有光董事长 何波 元聚变 CTO 殷磊 慧博集团董事长，上海外国语大学国际金贸学院教授 何佳川 AI 日益深入赋能金融服务各个领域 黄炜卓：安永如何利用 AI 赋能资产管理行业发展？ 忻怡： 五年前，安永成立以业务人员为核心的金融科技工作组，致力于以技术推动管理提升 与业务发展。在资管行业，我们将 AI 与大数据等先进技术应用于不同的业务场景，比较有代 表性的是投研、风控与估值定价三大环节： 投研方面，面对政策与市场的快速变化，传统静态模式已难以应对。通过大数据与 AI 平台， 可实时追踪全球政策动向，精准分析其对行业与企业的影响。 风控领域，穿透式管理成为关键。 AI 能 ...

二是严控成本，夯实资本实力。一方面要大力压缩各类经营成本，提升盈利能力，为资本金补充创造有利条件；另一方面 需积极推进业务创新，重点开拓低资本消耗的资产类业务，通过资本节约型发展模式满足监管要求。于学军特别提醒，随 着适度宽松货币政策持续，商业银行资产负债规模不断扩大，资本补充压力将日益凸显，提前做好相关准备比以往更为关 键。 三是科技立行，抢占转型先机。人工智能掀起的行业变革已成为市场竞争的关键变量，更是银行业系统性提升竞争力的核 心手段。当前各家银行虽已在金融科技领域多有布局与创新，部分领域甚至处于领先水平，但行业内差距依然明显。于学 军呼吁，银行需主动拥抱人工智能，全面重构科技管理、人才结构与业务体系，抢抓金融科技发展风口，以先发优势赢得 未来发展主动权。 银行频道更多独家策划、专家专栏，免费查阅>> 岁末启新，共谋发展。在"十四五"收官与"十五五"开局的关键节点，由金融界主办、宁波银行支持、清华大学经济管理学院 中国金融研究中心提供学术支持的"启航·2025银行业高质量发展年会"于12月26日在北京成功举办。本次年会以"凝心启新， 聚力致远"为主题，汇聚监管专家、学界精英、行业领袖及科技企业代表，围绕 ...

随后，现场发布《金融大模型应用评测报告（2025）》与《金融大模型评测数据集（2025）》。该报告基于真实金融业务场景构建评测任务，探索金融 垂直领域大模型应用的新理念、新机制与新手段，将有效支撑金融机构科学选型、降本增效，加速大模型在投研、风控、客服等核心环节的规模化落地。 12月26日，由上海人工智能实验室与上海库帕思科技有限公司联合主办的"2025金融大模型评测体系发布会"在上海市徐汇区举办。 上海市委金融办副主任、一级巡视员葛平在致辞中指出，人工智能正在深刻重塑金融行业发展格局，大模型技术在应用场景深化、关键要素强化和应用 生态协同推进三方面加速赋能。他强调，去年由库帕思、上海人工智能实验室等机构发布的全国首个"以金融业务为中心"的金融大模型评测体系，为行业提 供了科学选型与能力对标的重要"标尺"。今年评测体系的全面升级，将助力上海建设具有全球影响力的金融科技中心。 现场，"2025金融大模型评测体系暨金融评测基准"正式启动。该体系在标准引领、数据驱动、安全可信与生态共建四大维度实现全面升级，首次构建覆 盖金融全场景的评测基线，为行业提供统一、权威、可操作的技术评估框架。 在主题演讲中，库帕思COO施 ...