Core Viewpoint - The "Action Plan" aims to enhance the competitiveness and influence of Shanghai as an international financial center, promoting high-level financial openness to drive high-quality economic development [1][2]. Group 1: Key Measures and Focus Areas - The "Action Plan" emphasizes the gathering of financial institutions in Shanghai, enhancing financial service functions, and encouraging foreign financial institutions to play a larger role in the development of Shanghai's international financial center [2]. - It aims to expand institutional openness and improve the internationalization of Shanghai's financial industry by aligning with international high-standard economic and trade rules [2]. - The plan includes improving regulatory standards and promoting proactive risk management capabilities among financial institutions in Shanghai to ensure financial safety [2][4]. Group 2: Open Cooperation and Innovation - Open cooperation is highlighted as a driving force for financial reform and development, with significant contributions from foreign institutions to China's modern financial system [3]. - The "Action Plan" encourages innovation in technology finance and cross-border finance, aiming to expand the breadth and depth of financial openness in Shanghai [3]. - It supports the establishment of a financial innovation regulatory mechanism to facilitate pilot projects that serve the real economy and foreign trade [4].

为了最大程度释放免签政策红利，需要继续下足功夫。要不断完善入境游产业链，以更优质的产品供 给、更多元的消费场景和更便利的服务保障，提升外国游客来华体验。比如，在出行方面，已有多家航 司发布暑运计划，部分航司宣布新增洲际航线；在优化支付环境方面，不少旅游景区逐渐完善移动支 付、银行卡、现金等所需的软硬件设施，推动线上线下支付更加便利。 还应持续优化营商环境。近年来，《关于进一步优化外商投资环境加大吸引外商投资力度的意见》《扎 实推进高水平对外开放更大力度吸引和利用外资行动方案》等相继发布，各部门、各省市也纷纷出台吸 引外资、改善营商环境、便利外籍人士工作的相关措施。未来，要给予外国游客及投资者稳定预期，以 对外开放的确定性对冲外部环境的不确定性。 （文章来源：经济日报） 6月9日起，中方对沙特、阿曼、科威特、巴林持普通护照人员试行免签政策。至此，适用单方面免签政 策的来华国家已扩展至47个。免签"朋友圈"的扩大，彰显了我国持续推进高水平对外开放的坚定决心。 近年来，随着免签政策红利持续释放，外国朋友来华旅游、投资意愿不断增强，越来越多的外籍人员到 访中国、感受中国。一组数据最具说服力：今年前4个月，我国新设立外 ...

Financial Policy Announcements - The People's Bank of China announced eight financial policies aimed at enhancing the openness and international competitiveness of China's financial markets, while also improving financial services for the real economy and cross-border trade [1] - The new policies are expected to attract more international capital inflow, boosting confidence in the stock and bond markets amid uncertain US-China trade policies [1] Key Financial Policies - Establishment of an interbank market trading report database to analyze transaction data across various financial sub-markets [2] - Creation of a digital RMB international operation center to promote the internationalization of digital RMB and support financial innovation [2] - Establishment of personal credit institutions to provide diversified credit products and improve the social credit system [2] - Pilot offshore trade financial services reform in Shanghai's Lingang New Area to support offshore trade development [2] - Development of offshore bonds to broaden financing channels for enterprises involved in the Belt and Road Initiative [2] - Optimization of free trade account functions to enhance efficient capital flow for quality enterprises [2] - Implementation of structural monetary policy tools in Shanghai to guide funds towards weak areas of the real economy [2] - Collaboration with the China Securities Regulatory Commission to promote RMB foreign exchange futures trading for better risk management [2] Support for Technology Innovation - The China Securities Regulatory Commission announced the establishment of a "growth layer" on the Sci-Tech Innovation Board to support high-quality, unprofitable technology companies [3][4] - The new growth layer aims to address the challenges faced by technology firms and enhance the capital market's support for innovation [4] - Specific requirements for investor protection and risk disclosure have been established to safeguard the interests of small and medium investors [5]

Core Viewpoint - The joint action plan by the Financial Regulatory Bureau and the Shanghai Municipal Government aims to enhance the construction of Shanghai as an international financial center through various measures, focusing on financial institution aggregation, improving financial services, expanding institutional openness, enhancing regulatory standards, and improving policy support [1][5]. Group 1: Financial Institution Aggregation - The plan emphasizes the need for commercial banks to increase support for Shanghai's international financial center by establishing dedicated institutions and authorizing local branches [1]. - It encourages foreign financial institutions to play a larger role in Shanghai's financial center development and prioritizes key foreign investment projects in Shanghai [1]. Group 2: Enhancing Financial Services - The action plan aims to improve the quality and efficiency of financial services for the real economy, particularly for technology enterprises, by exploring suitable financial service models [2]. - It promotes the development of carbon finance and aims to position Shanghai as an international hub for green finance [2]. Group 3: Expanding Institutional Openness - The plan advocates for aligning with international high-standard trade rules to explore financial institutional openness, including cross-border syndicate loans in the Shanghai Free Trade Zone [2]. - It aims to enhance the international operational capabilities of financial institutions and promote the development of Shanghai as an international reinsurance center [2]. Group 4: Enhancing Regulatory Standards - The action plan calls for improving the forward-looking risk management capabilities of financial institutions in Shanghai and promoting sound operations [4]. - It supports financial innovation pilot projects focused on serving the real economy and foreign trade, while establishing a financial risk prevention and disposal mechanism [4]. Group 5: Improving Policy Support - The plan emphasizes the integration of party building with business operations and the strengthening of legal frameworks to support the construction of Shanghai as an international financial center [4]. - It aims to enhance the technological level of financial regulation and support the establishment of a data center for the Financial Regulatory Bureau in Shanghai [4]. Group 6: Hong Kong-Shanghai Cooperation - The signing of the Hong Kong-Shanghai International Financial Center Collaborative Development Action Plan focuses on infrastructure connectivity and the strategic complementarity of offshore finance between the two cities [6][7]. - The plan includes measures to support cross-border financial services and encourages the development of financial products that meet offshore trade funding needs [8].

◎记者 陈佳怡 在当下的全球经济变局中，开放，是一种自信，更是一种担当。 这样的故事还有很多：目前，全球前50大银行有42家在华设有机构，40家最大的保险公司近半数已进入 中国；八成全国性银行通过引入境外战略投资者，提升了公司治理效能和经营管理水平…… 当前，中国正以更加开放的姿态拥抱世界。在外部环境复杂多变的背景下，这显得尤其难能可贵。"中 国对外开放的程度越深，对中国越有利，对全球经济也越有利。"伦敦金融城政府政策与资源委员会主 席贺凯思对记者说。 之于世界而言，中国的开放姿态无疑为国际合作注入了一股暖流，也注入了信心，更是一颗定心丸。正 如潘功胜所说，完善全球金融治理，需要各方加强对话与合作。"我们将坚持走改革开放之路、多边主 义之路，积极发挥建设性作用，为构建更加公平、公正、包容、有韧性的全球金融治理体系贡献力 量。" 在2025陆家嘴论坛的聚光灯下，一条从金融开放引领到市场筑基的路径清晰可见。正值科创板开板6年 之际，中国证监会发布《关于在科创板设置科创成长层 增强制度包容性适应性的意见》，以在科创板 设置专门层次为抓手，重启未盈利企业适用科创板第五套标准上市，推出一揽子更具包容性、适应性的 制度改 ...

2025陆家嘴论坛开幕式现场 新华社图 ◎记者 张琼斯 汤立斌 当天下午，证监会发布《关于在科创板设置科创成长层 增强制度包容性适应性的意见》，上交所就同 步制订的两项配套业务规则公开征求意见。证监会还发布了允许合格境外投资者参与ETF期权交易的公 告，以推进资本市场高水平制度型开放。 在论坛上，证监会、民政部和上海市政府联合举办中国资本市场学会揭牌仪式。据悉，中国资本市场学 会定位于打造资本市场理论研究、学术交流、决策咨询高端智库平台，围绕资本市场战略性基础性前瞻 性重大课题开展研究交流和宣传。 央行将以8项举措，助力上海国际金融中心建设。论坛上，中国人民银行行长潘功胜逐一介绍：设立银 行间市场交易报告库，发展自贸离岸债，在上海"先行先试"结构性货币政策工具创新，会同中国证监会 研究推进人民币外汇期货交易……八箭齐发，既关乎金融市场开放，又助力跨境贸易发展，还涉及金融 基础设施和政策工具的创新。 金融监管总局局长李云泽在会上"剧透"，将会同上海市政府联合发布《关于支持上海国际金融中心建设 行动方案》。随后，方案正式出炉，提出推动金融机构集聚、做实"五篇大文章"、扩大制度型开放、提 高监管水平等五方面内容。 ...

在"更加开放"方面，国家外汇局将推动外汇领域高水平制度型开放。深化直接投资外汇管理体制改革， 缩减外商直接投资外汇登记流程和资金使用负面清单。稳慎拓展金融市场互联互通，优化合格境外投资 者制度。深化外汇市场发展和对外开放，完善外汇市场产品体系，扩大境内外汇市场参与主体，持续优 化企业汇率风险管理服务。 在"更加安全"方面，国家外汇局将加强外汇市场"宏观审慎+微观监管"两位一体管理，维护外汇市场稳 定和国家经济金融安全。坚决防范外部冲击风险，强化跨境资金流动监测预警，加强宏观审慎管理和预 期引导，保持人民币汇率在合理均衡水平上的基本稳定，保持国际收支基本平衡。全面加强外汇领域监 管，高压打击外汇领域违法违规活动。 在"更加智慧"方面，国家外汇局将妥善运用人工智能、大数据等科技手段，提升外汇管理数字化智能化 水平。 证券时报记者贺觉渊 6月18日，中国人民银行副行长、国家外汇局局长朱鹤新在2025陆家嘴论坛发表主题演讲时表示，坚定 推进外汇领域深层次改革和高水平开放。面对外部环境急剧变化，国家外汇局积极推出多项支持性政 策。当天，国家外汇局就《关于深化跨境投融资外汇管理改革有关事宜的通知（征求意见稿）》（以下 简 ...

Core Insights - The establishment of new insurance asset management companies by AIA and Dutch Global Life signifies ongoing high-level opening of China's financial industry [1][2] - AIA's new asset management company aims to enhance investment management services and support its insurance business in China [1][2] - Dutch Global Life, with over 20 years in China, plans to expand its presence and investment in the market [2][3] Expansion of Insurance Asset Management Companies - AIA Life has received approval to establish AIA Insurance Asset Management Company, marking the first batch of approved companies in 2023 [1] - The new asset management company will focus on improving the efficiency of fund utilization and providing specialized investment management services [1][2] - Dutch Global Life's establishment of an asset management company will complement its existing joint ventures and enhance its business layout in China's financial market [3] Deepening Foreign Institutions' Presence in China - Recent years have seen a significant increase in foreign investment in China's insurance market, with various new entities being established [4] - The first wholly foreign-owned insurance holding company, Allianz (China) Insurance Holding Co., was established in 2020, followed by other foreign entities [4] - As of 2024, 42 of the world's top 50 banks and nearly half of the largest insurance companies have established a presence in China [5] Richer Ecosystem in China's Insurance Industry - By the end of 2024, there are 35 insurance asset management companies in China, with 34 reporting profits and a total revenue of 41.6 billion yuan, a 14.4% increase [6] - The total assets managed by these companies reached 30.11 trillion yuan by the end of 2023, with at least 8 companies managing over 100 billion yuan [6] - The establishment of new foreign insurance asset management companies is expected to increase the total number to 38, enriching the ecosystem of China's insurance industry [6]

在稳步扩大金融制度型开放层面，金融监管总局将大力复制推广自贸区、自贸港扩大制度型开放的经验 做法，支持外资机构参与更多金融业务试点。对标国际高标准经贸协议中金融领域相关规则，探索在更 宽领域、更大幅度上加大开放力度。 上海作为中国金融高水平开放的窗口，一直走在金融业改革开放最前沿。金融监管总局还与上海市政府 联合发布了《关于支持上海国际金融中心建设行动方案》，提出了鼓励上海在科技金融、跨境金融等领 域开展创新试点，支持符合条件的全国性银行在沪设立金融资产投资公司，支持探索不动产、未上市股 权等非货币信托财产登记上海模式，提升上海国际再保险、航运保险承保能力和全球服务水平等27条具 体举措，支持上海国际金融中心建设再上新台阶。 金融监管总局有关部门负责人表示，未来还将通过建立健全金融创新监管工作机制、对标国际高标准经 贸规则、深化推进上海国际金融中心和国际科技创新中心联动建设、支持上海打造国际绿色金融枢纽等 方面的具体工作，更好发挥上海金融改革试验田作用。 "中国拥有充满活力和潜力的超大规模市场，过去是、现在是、将来也必然是全球金融机构展业兴业的 沃土。"6月18日，国家金融监督管理总局局长李云泽在2025陆家 ...

点击上图▲立即收听 " 两个大礼包，意味着中国正在推进金融业进一步开放，以掌控更大的国际金融话语权。 " 文 / 巴九灵（微信公众号：吴晓波频道） 这几天，国家在金融领域派送了两个政策大礼包，新闻刷了屏，朋友圈也跟着热闹，但不少人看了两行就放弃了——术语太多、门槛太高，看起 来很厉害，但和普通人有什么关系，搞不清楚。 这两个礼包一个来自中国金融界最高级别的年度盛会之一陆家嘴金融论坛，央行行长潘功胜宣布了8项重磅金融政策，包含设立数字人民币国际 运营中心、发展自贸离岸债、优化升级自由贸易账户功能等。 2025陆家嘴论坛央行行长潘功胜 另一个则是由中办、国办印发的高规格文件《关于深入推进深圳综合改革试点深化改革创新扩大开放的意见》，其中提到，允许在港交所上市的 粤港澳大湾区企业，按照政策规定在深交所上市。 我们认为，对普通人而言，这些政策其实可以简化为两件大事： 第一，扶持外贸，并将上海打造成" 中国最大的资金池 "。 第二，让更多优质企业回到内地上市，并将深圳打造成金融领域支持科技强国的前沿阵地。 我们一件件来说。 ◎ 发展自贸离岸债； 其中，好几条都和外贸企业直接挂钩。 例如" 发展自贸离岸债 "。 所谓"自 ...