责任编辑：杨赐 何立峰强调，要扎实做好四季度金融工作，紧盯风险、严防"爆雷"，巩固严监管氛围，加力支持经济发 展，全力推动实现全年经济社会发展主要目标任务，助力"十四五"圆满收官，为顺利开启"十五五"提供 有力支撑。 金融系统学习贯彻党的二十届四中全会精神会议10月24日在京召开。中共中央政治局委员、中央金融委 员会办公室主任何立峰出席会议并讲话。他强调，金融系统要把学习宣传贯彻全会精神作为当前和今后 一个时期的重大政治任务，迅速兴起学习热潮，分层分级、分期分批组织开展全覆盖培训，推动全会精 神在全系统入脑入心。要抓紧研究谋划"十五五"时期金融重点工作，准确把握"十五五"时期金融工作的 主要目标和面临的形势任务，持续深入贯彻落实好中央金融工作会议精神特别是习近平总书记关于做好 金融工作的系列重要讲话精神，时刻谨记金融工作的政治性、人民性，始终牢牢把握防风险、强监管、 促高质量发展工作主线，坚定不移走中国特色金融发展之路，加快构建中国特色现代金融体系，推动金 融强国建设取得新的重大进展。 ...

Core Viewpoint - The concept of "national chess" is essential for transforming China's institutional advantages into economic resilience, emphasizing coordinated development as a key strategy for success [2][4]. Group 1: National Strategy and Economic Resilience - The "national chess" approach integrates various regional strengths and promotes coordinated development, which is crucial for enhancing confidence and collective efforts in economic growth [3][4]. - This strategy is rooted in Marxist systemic views and China's historical governance practices, aiming to optimize overall goals through collaboration among subsystems [3][4]. - The current complex global environment necessitates a unified approach to address risks and challenges, ensuring national security and long-term development goals [3][4]. Group 2: Economic Development and Challenges - The "14th Five-Year Plan" period is critical for solidifying the foundation of socialist modernization, facing both external geopolitical risks and internal economic transitions [5][6]. - Key internal challenges include the need for deeper integration of technological and industrial innovation, improved financial services for the real economy, and enhanced regional development strategies [6][7]. Group 3: Systematic Approaches to Economic Growth - Emphasizing a systematic and coordinated approach is vital for enhancing the stability and security of economic development, particularly in the face of external pressures [6][7]. - The integration of various sectors and the promotion of a unified national market are essential for maintaining economic circulation and resilience [15][19]. Group 4: Financial and Industrial Development - Financial high-quality development serves as a "shock absorber" for the economy, ensuring that financial systems support real economic growth while managing risks effectively [13][19]. - The development of a modern industrial system characterized by digitalization and sustainability is crucial for fostering new productive forces and enhancing economic resilience [16][17]. Group 5: Regional Coordination and Strategic Development - Strengthening regional strategies and promoting coordinated development across different areas can enhance overall economic resilience and stability [12][18]. - The focus on regional characteristics and advantages allows for a more tailored approach to economic development, fostering collaboration and resource optimization [12][18].

截至今年6月末，中国银行业总资产近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；全球最大信贷市场和第二大保险市场地位更加稳固……"十四 五"时期是中国金融业成果丰硕的五年，金融高质量发展基础持续夯实、金融强国建设迈出坚实步伐。 回望不平凡的五年，中国金融体制改革全面深化，金融治理能力现代化迈上新台阶——金融机构更丰 富、服务实体更高效、民生保障更有力、风险防控更精准。 张大伟 制图 ◎上海证券报记者 何奎 严晓菲 五年栉风沐雨，以稳健与活力为底色，中国金融业递交出一份亮眼的"十四五"答卷。 "十四五"期间，金融服务的深度和广度持续提升。东到抚远、南到三沙、西到喀什地区、北到漠河，金 融机构网点进一步在全国铺开。 "'十四五'以来，行业高质量发展实现新跨越，综合实力更加雄厚。"金融监管总局局长李云泽说，目前 银行业保险业总资产超过500万亿元，5年来年均增长9%。信托、理财、保险资管机构管理资产近100万 亿元，规模较"十三五"末翻了一番。 ——五年来，我国多层次、广覆盖、差异化的机构体系日益成熟。 银行业金融机构数量超4000家，保险业金融机构数量超230家 ...

Core Insights - The article emphasizes the strategic goal of building a strong financial nation under the leadership of the Communist Party of China, highlighting significant achievements in financial reform and modernization [1] Group 1: Financial System Development - The financial system in China has seen comprehensive reforms, with a focus on enhancing governance and modernizing the financial governance framework [2] - As of the "14th Five-Year Plan" period, the total assets of the banking and insurance sectors have exceeded 500 trillion yuan, with an average annual growth rate of 9% over the past five years [2] - The number of financial institutions has increased, with 143 Chinese banks listed among the global top 1,000, and six of the top ten banks being Chinese [2] Group 2: Financial Services to the Real Economy - Over the past five years, the banking and insurance sectors have provided an additional 170 trillion yuan in funding to the real economy through various financial instruments [3] - Loans to small and micro enterprises have reached 36 trillion yuan, which is 2.3 times the amount at the end of the "13th Five-Year Plan" period, with interest rates decreasing by 2 percentage points [3] - The insurance sector has paid out 9 trillion yuan in claims, a 61.7% increase compared to the previous five-year period [3] Group 3: Financial Regulation and Risk Management - The financial regulatory system has undergone significant reforms, with a focus on enhancing regulatory effectiveness and implementing a multi-tiered regulatory framework [4] - The regulatory authority has imposed penalties on 20,000 institutions and 36,000 individuals, with a total fine amounting to 21 billion yuan [4] - The risk management strategy has successfully reduced the number of high-risk financial institutions and their asset scale significantly [5][7] Group 4: Financial Opening and Internationalization - The financial sector has seen steady progress in opening up, with over 10 trillion yuan held by foreign institutions and individuals in domestic stocks, bonds, and deposits [8] - The People's Bank of China has signed bilateral currency swap agreements with 32 countries, enhancing the international use of the renminbi [9] - The establishment of Shanghai as a global center for renminbi asset allocation and risk management is underway, promoting international participation in the financial market [9] Group 5: Business Environment Improvement - The cross-border trade and investment facilitation levels have significantly improved, with nearly 300 billion USD in related transactions since the beginning of the "14th Five-Year Plan" [10] - Policies have been upgraded to enhance cross-border financing for high-tech and small enterprises, with over 16,000 companies assisted in financing [10]

Core Viewpoint - The Henan Provincial Government has issued a financial service implementation plan aimed at enhancing financial support for key economic areas, focusing on high-quality financial development to support the "Two Highs and Four Efforts" strategy [1][3]. Group 1: Financial Service Implementation Plan - The plan includes 20 measures to deepen financial services for the manufacturing sector and other key areas, aiming to optimize the financial ecosystem and improve service capabilities [1]. - The overall goal is to ensure effective financial resource allocation, enhance the efficiency of financial services, and prevent financial risks while building a modern financial system [1]. - By 2025, the plan targets an increase of 1 trillion yuan in social financing and over 300 billion yuan in credit bond issuance [1]. Group 2: Support for the Real Economy - The financial system in Henan has actively supported the development of the real economy by providing convenient and efficient financial services [2]. - Zhongyuan Bank has focused on integrating with industrial chains, extending services from individual clients to entire industry chains, and enhancing investment attraction to empower industrial development [2]. - CITIC Bank's Zhengzhou branch has established a comprehensive service system for rural revitalization, with agricultural loans reaching 35.6 billion yuan, leading among regional joint-stock banks [2]. Group 3: Strategic Alignment and Impact - The plan aligns with broader strategic initiatives such as the rapid rise of central regions and ecological protection in the Yellow River basin, serving as a key layout for addressing structural challenges in the economy [3]. - The innovative mechanisms and targeted strategies outlined in the plan are expected to have significant demonstration value, with attention on the effectiveness of implementation and experience sharing [3].

Core Viewpoint - The article emphasizes the importance of enhancing financial regulation quality and effectiveness while maintaining a focus on risk prevention, strong regulation, and promoting high-quality development in the financial sector [1] Group 1: Financial Regulation - The financial regulatory authority aims to improve the quality and effectiveness of financial supervision [1] - The focus is on risk prevention, strong regulation, and promoting high-quality development as the main line of financial work [1] - There is a commitment to deepen the reform of small and medium-sized financial institutions to mitigate risks [1] Group 2: Risk Management - The authority plans to effectively respond to various financial risk challenges [1] - A comprehensive strengthening of the "five major regulations" is proposed to enhance the foresight, precision, effectiveness, and coordination of supervision [1] - There is a strong emphasis on safeguarding the legitimate rights and interests of financial consumers and rigorously preventing and combating illegal financial activities [1] Group 3: Economic Support - The financial sector is tasked with supporting high-quality economic and social development through the implementation of five major financial initiatives [1]

Core Viewpoint - The Central Commission for Discipline Inspection has initiated a comprehensive inspection and rectification process for China Taiping Insurance Group, emphasizing the importance of political responsibility and the implementation of corrective measures to enhance governance and operational efficiency [1][2]. Group 1: Responsibility and Governance - China Taiping's Party Committee is guided by Xi Jinping's thoughts and has committed to implementing the decisions from the 20th National Congress and the Central Financial Work Conference, enhancing political awareness and responsibility in rectification efforts [2][3]. - The Party Committee has established a systematic approach to rectify issues, including holding meetings to discuss and implement corrective actions, and ensuring that all departments and subsidiaries are accountable for their respective responsibilities [3][4]. Group 2: Systematic Rectification - The Party Committee emphasizes a combination of targeted and comprehensive rectification, ensuring that key issues are addressed while also promoting overall improvement across the organization [4]. - A robust mechanism for supervision and evaluation has been established, integrating rectification efforts into performance assessments to ensure accountability [5]. Group 3: Implementation of Central Policies - China Taiping is actively implementing major decisions from the Central Government, focusing on enhancing its role as a central financial enterprise in Hong Kong and participating in significant national strategies such as the Greater Bay Area initiative [6]. - The company is committed to supporting rural revitalization and increasing investments in key sectors, including technology and small and micro enterprises, to align with national development goals [6]. Group 4: Party Governance and Anti-Corruption Measures - The Party Committee has revised its responsibility framework for strict governance, focusing on enhancing supervision and accountability, particularly for key leadership positions [7][8]. - Continuous efforts are being made to strengthen the anti-corruption framework, including regular training and education on compliance with the Central Eight Regulations [8][9]. Group 5: Future Work Arrangements - The company plans to deepen the implementation of the 20th National Congress and Central Financial Work Conference directives, focusing on enhancing governance capabilities and risk management [14][15]. - There is a commitment to ongoing improvement in governance structures and processes, ensuring that the Party's leadership is integrated into all aspects of corporate governance [9][10].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued the "Action Plan for Promoting High-Quality Development of Public Funds," which aims to enhance the public fund industry by focusing on investor interests and transitioning from a scale-driven approach to one that emphasizes investor returns [1][2]. Group 1: Action Plan Highlights - The Action Plan emphasizes strong regulation, risk prevention, and promoting high-quality development, aiming to shift the industry's focus towards investor returns [1][2]. - It is expected to serve as a significant turning point in the history of the public fund industry, with over 20 supporting regulations to follow, impacting the development of actively managed equity funds [1][2]. Group 2: Investor-Centric Initiatives - The plan proposes a binding mechanism between fund company income and investor returns, including a floating management fee linked to performance, which aims to lower costs for investors [2]. - It also calls for reforms in performance evaluation mechanisms, increasing the weight of investment return metrics for fund managers, and implementing long-term performance assessments [2][3]. Group 3: Enhancing Investor Services - The CSRC aims to improve the service capabilities of the public fund industry by optimizing investment research, product design, and risk management [3]. - There is a focus on developing low-volatility and asset allocation products to cater to various investor risk preferences [3]. Group 4: Technological Integration - The Action Plan encourages the use of emerging technologies like AI and big data to enhance service levels and improve investor interaction experiences [5]. - It highlights the importance of developing equity public funds to better connect investors with quality enterprises, thereby improving capital market efficiency [5]. Group 5: Long-Term Value Focus - The plan sets higher expectations for fund companies regarding proactive investment strategies and industry trend analysis to meet residents' wealth management needs [6]. - The initiative aims to strengthen the financial system's stability and accelerate the high-quality development of the industry [6].

Core Insights - The report highlights the transformation of China's asset management industry from "scale expansion" to "quality improvement," with an overall asset management scale reaching 165.45 trillion yuan in 2024, maintaining a compound annual growth rate of 7.45% since 2019 [1][3] - Beijing's asset management sector is a significant contributor to the national landscape, managing nearly 50 trillion yuan, accounting for nearly 30% of the national total, and housing over 3,300 asset management institutions [1][2] Summary by Categories Industry Overview - The asset management industry in China is experiencing a shift towards quality and efficiency, moving away from a focus solely on scale [3] - The report provides a comprehensive analysis of Beijing's asset management sector, emphasizing its role as a national financial management center [1][2] Key Trends - The report identifies six major trends for the future of Beijing's asset management industry, including: 1. Strengthening financial support for key areas such as technology innovation, green economy, and digital economy [3] 2. Transitioning from scale-oriented to quality and efficiency-oriented operations [3] 3. Focusing on customer needs to drive product diversification and personalized innovation [3] 4. Optimizing market structure to highlight the characteristics of leading institutions [3] 5. Enhancing the regulatory framework to support healthy industry development [3] 6. Increasing international openness and regional collaboration [3] Expert Commentary - The report's release is timely, coinciding with the conclusion of the 14th Five-Year Plan and the emphasis on high-quality financial development [2] - Experts stress the importance of adapting to non-economic factors and the long-term volatility of global dynamics for the asset management industry [3]

Group 1 - The meeting between Guangdong Provincial Secretary Huang Kunming and ICBC President Liu Jun focused on deepening government-bank cooperation and promoting high-quality financial development [1][2] - Huang expressed gratitude for ICBC's support in Guangdong's economic and social development, emphasizing the importance of finance in modern economic construction and the need for large financial institutions' involvement [1] - The strategic cooperation between Guangdong and ICBC has yielded significant progress, with a focus on key areas such as the Guangdong-Hong Kong-Macao Greater Bay Area, manufacturing, and ecological construction [1] Group 2 - Liu Jun highlighted Guangdong's economic vitality, resilience, and potential, stating that ICBC views the province as a key strategic market [2] - ICBC aims to enhance its contributions to Guangdong's modernization by focusing on five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance [2] - The bank plans to innovate financial products and services to better support the province's economic needs [2]