刘锡良 王之扬 金融是国民经济的血脉，是国家核心竞争力的重要组成部分。中国特色金融发展之路是我们党把马克思 主义金融理论同当代中国具体实际相结合、同中华优秀传统文化相结合，不断深化对金融工作本质规律 和发展道路认识而取得的重要成果。在《习近平经济文选》第一卷中，《走好中国特色金融发展之路》 对此作出深刻论述，指出"党的十八大以来，我们积极探索新时代金融发展规律，不断加深对中国特色 社会主义金融本质的认识，不断推进金融实践创新、理论创新、制度创新，积累了宝贵经验，逐步走出 一条中国特色金融发展之路"；以"八个坚持"对中国特色金融发展之路作出精辟概括：坚持党中央对金 融工作的集中统一领导，坚持以人民为中心的价值取向，坚持把金融服务实体经济作为根本宗旨，坚持 把防控风险作为金融工作的永恒主题，坚持在市场化法治化轨道上推进金融创新发展，坚持深化金融供 给侧结构性改革，坚持统筹金融开放和安全，坚持稳中求进工作总基调。深刻理解和把握中国特色金融 发展之路，是破解新时代金融发展难题、加快建设金融强国的内在要求。 中国特色金融发展之路与西方金融模式具有本质区别 习近平总书记在《走好中国特色金融发展之路》中指出："中国特色金融 ...

Core Viewpoint - The importance of preventing and resolving financial risks is emphasized as a fundamental task for maintaining economic stability and promoting high-quality development in China [1][2][3]. Group 1: Importance of Financial Risk Prevention - Financial risks are complex and can disrupt normal economic operations, with systemic risks posing long-term impacts on national economic development [2]. - Effective prevention and resolution of financial risks ensure the overall stability of the financial system and orderly market operations, which helps smooth economic cycles and maintain resilience against external shocks [3]. - The stability of the financial environment supports the rational flow and effective allocation of funds, which is essential for high-quality development [4]. Group 2: Measures for Financial Risk Management - The establishment of a comprehensive financial regulatory system is crucial for the stable operation of the financial system, requiring all financial activities to be regulated to eliminate blind spots [7]. - Strengthening financial law and governance is necessary to provide a solid institutional guarantee for preventing and resolving financial risks, ensuring that financial resources are effectively allocated to high-end manufacturing and emerging industries [8]. - Continuous improvement of risk prevention, early warning, and resolution mechanisms is essential to enhance the quality and effectiveness of financial risk management [6].

Group 1 - The celebration of the 100th anniversary of the All-China Federation of Trade Unions highlighted the importance of the working class and laborers in driving high-quality development in China [1] - Xi Jinping emphasized the need for workers to embrace innovation and contribute to the new era through hard work and dedication [1] - The securities industry professionals expressed alignment with the spirit of the labor model, advocating for the integration of craftsmanship into capital market services to support the transformation of the real economy [1][2] Group 2 - The public fund industry, with a scale exceeding 32 trillion yuan, is recognized as a significant institutional investor in China's capital market, focusing on high-quality development [1] - Fund industry professionals are committed to enhancing their professional capabilities and responsibilities to better serve investors and maintain market stability [2] - The emphasis on "investor-centric" principles reflects the industry's dedication to optimizing investor returns and contributing to the overall stability of the financial market [2]

Core Viewpoint - The recognition of laborers in the financial sector highlights their significant contributions to the economy and society, emphasizing the importance of their roles in achieving national goals and supporting the development of the country [1][2]. Group 1: Recognition of Laborers - A total of 2,426 laborers were honored with the title of National Labor Model and Advanced Worker, including several from the financial sector, reflecting the hard work and dedication of millions of financial employees [1]. - The event marks the 100th anniversary of the All-China Federation of Trade Unions, underscoring the vital role of the working class in the socialist state and the leadership of the Communist Party of China [1]. Group 2: Financial Sector Contributions - Financial workers are actively responding to national strategic needs by optimizing funding allocations and ensuring the safety of industrial chains, thus playing a crucial role in economic circulation [2]. - The financial sector is characterized by its commitment to serving the public, with employees working diligently across various roles to support rural revitalization and the real economy [2]. Group 3: Personal Stories of Labor Models - Labor models like Fu Xiaokang and Li Xin exemplify the deep connections between financial workers and the communities they serve, addressing challenges such as financing for farmers and contributing to local economic improvements [3][4]. - The dedication of labor models like Xie Songchen and Wang Wenjin illustrates the resilience and commitment of financial workers in overcoming obstacles to provide essential services [5]. Group 4: Innovation and Development - Financial professionals are focusing on innovation across various sectors, including technology finance, green finance, and inclusive finance, to drive economic growth and enhance service delivery [6]. - The emphasis on innovation and reform within the financial sector is seen as a means to inject vitality into the construction of a strong financial nation, aligning with the broader goals of national development [6].

Group 1 - The core theme of the event is "Financial Power Dream, Youth Innovation in Investment Education," aiming to promote financial knowledge among youth and encourage their participation in building a strong financial nation [3][4] - The event is organized by Caitong Securities and guided by the Zhejiang Securities Industry Association, focusing on five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance [4] - The competition encourages students to create innovative educational materials that highlight the importance of the capital market in the construction of a financial power, promoting rational investment concepts and risk awareness [8] Group 2 - The second "Caitong Securities Common Prosperity Cup" financial education competition has been launched, inviting university students to contribute to the high-quality development of the capital market [8] - Participants have the opportunity to win substantial prizes and certificates, with the best works potentially showcased on Caitong Securities' official platform [6] - The event incorporates interactive and engaging formats, such as games and challenges, to enhance students' understanding of financial markets and foster a culture of rational investment [4][6]

Core Viewpoint - CICC reported strong financial performance for 2024, with total assets of RMB 674.716 billion, operating revenue of RMB 21.333 billion, and net profit attributable to shareholders of RMB 5.694 billion, highlighting its market leadership in investment banking and wealth management [1] Group 1: Business Performance - CICC's investment banking remains a core strength, ranking first in several categories including global IPOs for Chinese enterprises, Hong Kong IPOs, and M&A activities in China for ten consecutive years [1] - Wealth management is a key revenue driver, contributing 32.73% to total revenue, with total client numbers nearing 8.5 million, an increase of approximately 1.7 million from the previous year [2] - Fixed income and asset management businesses experienced rapid growth, with public fund management scale increasing by 63% to RMB 207.3 billion [2] Group 2: International Expansion - CICC has accelerated its internationalization, establishing a network covering major global financial hubs and providing comprehensive cross-border services [4][5] - In the Hong Kong market, CICC led in underwriting IPOs, with a total underwriting scale of USD 3.835 billion, ranking first [5] - The company completed cross-border and overseas project transactions exceeding RMB 900 billion, showcasing its capability in facilitating international financing and mergers [6] Group 3: Shareholder Returns - CICC has committed to increasing mid-term dividends, with a cash dividend distribution of approximately RMB 434 million planned for 2024, reflecting its focus on enhancing shareholder value [7] - Since its A-share listing in 2020, CICC has distributed a total of RMB 4.489 billion in cash dividends to shareholders [7]

Core Viewpoint - The company has demonstrated resilience and growth in various business segments despite a challenging market environment, with significant increases in revenue and market share in key areas such as wealth management, investment banking, and asset management [5][19][30]. Group 1: Company Overview - The company is focused on providing a wide range of financial products and services to individual, institutional, and corporate clients, with major business segments including wealth management, investment banking, investment management, and trading [7][28]. - The company has appointed a new securities affairs representative effective February 21, 2025 [4]. Group 2: Financial Performance - In 2024, the company reported a total revenue distribution across its business segments: wealth management and institutional business (102.33 billion RMB), investment banking (8.58 billion RMB), investment management (9.24 billion RMB), trading (63.34 billion RMB), and other businesses (25.43 billion RMB) [7]. - The company plans to distribute a cash dividend of 3.77 RMB per 10 shares to shareholders, totaling approximately 3.28 billion RMB based on the total share count as of December 31, 2024 [3]. Group 3: Market Environment - The overall economic environment in China remained stable in 2024, with a focus on high-quality development and increased support for capital markets [5]. - The total market size of ETFs reached 3.78 trillion RMB by the end of 2024, reflecting an 85.05% year-on-year increase [5]. - A-share listed companies distributed dividends totaling 2.39 trillion RMB, marking a 7.15% increase year-on-year, the highest in history [5]. Group 4: Wealth Management and Institutional Business - The A-share market saw a significant increase in trading volume, with stock fund trading volume reaching 29.58 trillion RMB, a 22.90% increase year-on-year [8]. - The company has enhanced its wealth management services by focusing on digital transformation and improving customer experience through various initiatives [9][10]. Group 5: Investment Banking - The A-share equity financing market experienced a significant decline, with total equity financing down 72.76% year-on-year, while the Hong Kong IPO market saw a substantial increase of 89.47% [21][22]. - The company ranked 7th in A-share equity underwriting and 8th in IPO underwriting, showing resilience in a challenging market [24]. Group 6: Investment Management - The asset management sector is growing, with the company’s total asset management scale reaching 2.67 trillion RMB by the end of 2024 [30]. - The company has successfully launched new public fund products and is expanding its cross-border business [30]. Group 7: Trading and Investment - The company has actively developed its trading strategies, focusing on high-dividend investments and utilizing advanced technologies for market analysis [39][41]. - The company’s foreign exchange business has expanded significantly, maintaining a strong market presence [42]. Group 8: Future Outlook - The company aims to strengthen its wealth management and investment banking capabilities while enhancing digital services and risk management practices [19][27][36].

国务院办公厅关于做好金融"五篇大文章"的指导意见 国办发〔2025〕8号 各省、自治区、直辖市人民政府，国务院各部委、各直属机构： 为贯彻落实党中央、国务院决策部署，推动做好科技金融、绿色金融、普惠金融、养老金融、数字 金融"五篇大文章"，加快建设金融强国，经国务院同意，现提出以下意见。 一、总体要求 坚持以习近平新时代中国特色社会主义思想为指导，深入贯彻党的二十大和二十届二中、三中全会 精神，落实中央经济工作会议、中央金融工作会议部署，完整准确全面贯彻新发展理念，统筹发展 和安全，坚持和加强党对金融工作的全面领导，坚持金融服务实体经济的根本宗旨，牢牢守住不发 生系统性金融风险底线。顺应经济社会高质量发展的战略需要、阶段特征和结构特点，深化金融供 给侧结构性改革，强化金融政策和科技、产业、财税等政策衔接配合，提升金融服务能力，优化资 金供给结构，切实加强对重大战略、重点领域和薄弱环节的优质金融服务，支持因地制宜发展新质 生产力。 到2027年，金融"五篇大文章"发展取得显著成效，重大战略、重点领域和薄弱环节的融资可得性和 金融产品服务供需适配度持续提升，相关金融管理和配套制度机制进一步健全。科技金融体系与实 ...