12月5日，证监会主席吴清在人民日报发表署名文章《提高资本市场制度的包容性适应性（学习贯彻党 的二十届四中全会精神）》指出，着力提升资本市场监管的科学性、有效性。金融创新更新迭代快，具 有明显的顺周期性和强外溢性。要适应市场的快速发展变化，加快构建全方位、立体化的证券期货监管 体系，完善对金融创新活动的监测监管和风险应对机制。加强战略性力量储备和稳市机制建设，强化重 点领域风险和跨市场跨行业跨境风险防范化解，持续提升资本市场内在稳定性。运用好大数据、人工智 能等现代信息技术手段，高效识别违法违规线索和风险隐患。坚持依法监管、分类监管，严厉打击财务 造假、欺诈发行、市场操纵和内幕交易等恶性违法行为，维护公开公平公正的市场秩序。 ...

Group 1 - Recent illegal activities are being conducted under the guise of "financial innovation" and "blockchain," involving the issuance of so-called "virtual currencies," "virtual assets," and "digital assets" to absorb funds and infringe upon public rights [1][3] - These activities are characterized by significant networked and cross-border operations, utilizing the internet and chat tools for transactions, which broadens the risk exposure and accelerates the spread of these activities [1][3] - Many perpetrators rent overseas servers to set up websites targeting domestic residents, making it difficult for regulatory bodies to track and manage these illegal activities [1][3] Group 2 - The deceptive, enticing, and concealed nature of these schemes is strong, as they exploit trending concepts and fabricate various high-profile theories, often using endorsements from influential figures to promote their schemes [2][4] - Perpetrators manipulate the prices of virtual currencies and set thresholds for profit and withdrawal to illegally extract profits, while also using various methods like ICOs, IFOs, and IEOs to issue tokens [2][4] - These activities present multiple legal risks, as they attract public investment through promises of "static returns" (profit from currency appreciation) and "dynamic returns" (profits from recruiting others), resembling illegal fundraising, pyramid schemes, and fraud [2][4] Group 3 - Such activities are essentially Ponzi schemes disguised as "financial innovation," making it difficult to sustain the flow of funds over the long term [2][4] - Public awareness is urged to critically assess blockchain claims and avoid blindly believing in extravagant promises, while also encouraging reporting of any discovered illegal activities to relevant authorities [2][4]

在上个月28日，中国人民银行突然召开高规格虚拟货币监管协调会议。 这次会议不一般，来了14个部门的负责人，阵容强大得让人有点意外。 这种级别的联合行动，在虚拟货币监管史上还真不多见。 监管升级，十四部门联手织密防护网 这次会议的背景其实不复杂，最近虚拟货币市场又开始活跃，各种地下交易渠道换着花样出现。 就像去年破的那个12亿USDT洗钱案，要是搁以前，单靠一个部门还真未必能这么快破案。 技术手段也跟上了，听说现在有了专门的区块链溯源系统，虚拟货币的流向能追到小数点后八位。 这种分工协作，比之前单打独斗效率高多了。 有个做技术的哥们透露，他们开发的监测平台，连暗网的交易信息都能扒下来一些。 不过这活儿也挺难，那些搞投机的人，反侦察能力比想象中强。 有朋友在金融圈工作，他跟我说，现在场外交易搞得跟谍战片似的，微信转账加线下见面，隐蔽性特别强。 十四部门联手可不是简单凑数，央行管总协调，公安部负责打击犯罪，网信办盯着网络平台，外汇局严防资金外流。 数字人民币的推进也给监管加了码，本来想，虚拟货币和数字人民币都是数字形式，应该差不多吧？后来发现完全不是一回事。 数字人民币背后是国家信用，虚拟货币说白了就是一串代码。 ...

Core Insights - The article highlights the leadership of Wang Xiuli in the financing leasing industry, emphasizing her commitment to development and risk control as fundamental principles [1][4][5] - It outlines the strategic direction and operational management of the company under her guidance, focusing on the integration of technology, finance, and industry [4][6] Group 1: Strategic Development - Since its establishment in 2011, the company has focused on aligning with national strategic initiatives, particularly in Shanghai's "Five Centers" and the Yangtze River Delta integration [4] - The company has concentrated on strategic emerging industries and essential sectors, with over 90% of investments directed towards artificial intelligence, advanced manufacturing, and life sciences [4][5] - The company has facilitated the introduction and delivery of over 70 multi-purpose aircraft and more than 150 vessels, supporting low-altitude economy and national shipbuilding initiatives [4] Group 2: Financial Innovation - The company has developed a comprehensive financial service system addressing the entire lifecycle of enterprises, launching customized solutions like "Sci-tech Quick Loan" and "Low-carbon Flash Rental" [4][6] - It has achieved nearly 100 billion yuan in leasing asset investments and generated over 5 billion yuan in tax revenue, connecting with over a thousand enterprises across numerous cities [5][6] - The company has been proactive in green finance, with 63.96% of leasing assets in the green sector, and has established the first cross-strait green low-carbon project in the industry [6][7] Group 3: Risk Management - The company has transitioned its risk management approach from passive to proactive, developing a credit risk quantification management system certified by Moody's [7] - It has implemented a dual protection system for property and debt rights, enhancing the balance between business innovation and compliance risk control [7] - The company has maintained high asset quality for several consecutive years through effective organizational restructuring and process reengineering [7] Group 4: Talent Development - The company recognizes talent as a core competitive advantage and has established a comprehensive talent cultivation and incentive system [8] - It prioritizes selecting individuals with strong curiosity, self-drive, and a commitment to lifelong learning [8] - The company has built a professional team that embodies the spirit of excellence and has become a talent hub in the leasing industry [8] Group 5: Industry Outlook - The company believes that financing leasing aligns with market efficiency principles, with increasing demand as the market economy develops [8] - It emphasizes the importance of adapting to market needs and enhancing service depth and breadth to support the modernization of industrial chains [8]

探讨海南自贸港产业优势和发展潜力—— 知名经济学家为海南自贸港发展把脉献策 海南日报全媒体记者 王赫 开栏的话 12月18日，海南自贸港将正式启动全岛封关。今日起，海南日报推出"经济学家看海南"栏目，邀请 国内多位知名经济学家围绕海南自贸港建设深入探讨，从不同角度深入剖析海南自贸港的战略地位、政 策红利、产业优势和发展潜力，描绘未来发展图景。 "十四五"临近收官，"十五五"蓝图待展，在这承前启后的关键节点，海南自贸港即将启动全岛封 关。作为中国对外开放的新高地，海南自贸港凭借独特的战略定位、优越的政策环境、丰富的产业潜力 和广阔的国际合作前景，吸引着全球目光。近日，多位知名经济学家接受海南日报全媒体记者采访，为 海南自贸港发展把脉献策。 开放前沿 金融创新 海南自贸港战略使命与独特优势 对外经济贸易大学校长赵忠秀指出，海南自贸港是中央赋予海南的历史性机遇，海南必须在新一轮 对外开放中勇担"排头兵"重任。海南自贸港以"'一线'放开、'二线'管住、岛内自由"为核心特征，形成 了海关监管特殊区域，使其能够更顺畅地对接全球资源，包括人才、货物和技术。这一独特的政策优 势，结合海南的天然地理条件，为海南成为全球范围内经 ...

Wangdaizi(wangdaizi@sohu.com) 美联储最高银行监管负责人鲍曼计划12月2日在向众议院金融服务委员会提交的书面证词中强调，监管 机构需以"负责任的方式鼓励创新"，同时持续提升对"创新带来的安全稳健性风险"的识别与管控能力。 这场听证会正值金融行业激辩数字资产监管未来之际，鲍曼的表态释放出监管层平衡创新与风险、推动 公平竞争的明确信号。 创新与风险双轮驱动：构建高效安全金融体系 鲍曼指出，新技术正重塑银行业生态——通过提升运营效率、扩大信贷覆盖范围，为消费者与企业创造 价值。她特别提及，金融科技与数字资产公司的蓬勃发展需匹配"公平竞争环境"，监管机构将致力于打 破行业壁垒，确保传统银行、金融科技公司及加密货币企业在同一起跑线上竞争。 稳定币监管框架加速成型：锚定《天才法案》要求 作为监管创新的核心抓手，鲍曼透露将联合多机构为稳定币发行机构制定资本与多元化监管规则，严格 落实《天才法案》对"注册备案+等额储备金"的硬性要求。此举旨在防止稳定币脱离传统金融监管框 架，避免成为系统性风险新源头。她承诺，监管方将发布清晰的数字资产监管指引，并对创新应用案例 提供及时反馈，确保规则既能包容技术迭 ...

记者乘车刚一驶下浏洪高速，大瑶镇的烟火气息就裹着声响扑面而来，此起彼伏的烟花爆响混着清脆的 噼啪声从街巷深处、厂区周边漫出来。同行的大瑶镇党委书记潘定一笑着说："这是我们的'背景音'， 产销旺季一到，更热闹。" 作为全国第一批特色小镇，大瑶镇的"特色"非常鲜明——作为湖南省浏阳市烟花产业的核心腹地，大瑶 镇制造的烟花产品曾成功绽放在伦敦奥运会、北京世园会、军运会、70周年国庆等诸多国内外大型活动 上。可以说，全球每三支烟花里，就有一支带着大瑶镇的印记。但比烟花更动人的，是声响背后强劲搏 动的产业脉搏和面向未来的产业新蓝图。 湘赣边彩印包装集中工业区内，厂房里的高端印刷设备高速运转，刚下线的烟花包装盒色彩明艳、纹路 精致。园区布局科学规整，以安全环保为核心的同时，凭借产业集群优势吸引订单纷至沓来，生产排期 早已延伸至明年。 傍晚，记者走进李畋剧场，这座以花炮祖师命名的新地标正亮起点点灯光。3600个观众席已布置妥当， 燃放区的安全设施全部就位。这个投资1000多万元的剧场，三个月就实现了建成投用，不仅能做中小型 烟花秀、企业新品试样，还能承接求婚、团建等定制活动。 夜色渐浓，李畋剧场旁的烟花小屋前围满了人。店长 ...

近年来，天津港保税区区管国有企业紧密围绕金融创新运营示范区建设要求，持续深化对区域企业特色 需求的研究与对接，不断探索金融支持实体经济新路径，先后成功发行资产支持商业票据（ABCP）、 获批发行资产支持证券（ABS），并积极推进不动产投资信托基金（REITs）项目发行，为区域产业 的"串链、补链、强链"以及区管国企自身做强做优做大注入了强劲动能。 未来，天津港保税区区管国企将继续把握国家金融创新政策机遇，推动相关成功模式的复制与推广，助 力区域产业链协同创新与能级提升，为实现区域经济高质量发展贡献更大力量。 据悉，该项目由天津天保商业保理有限公司牵头实施，项目储架总规模达10亿元，本期成功发行规模为 4.95亿元，期限2年，债项评级为AAA。作为全国首创，该项目不仅为科创企业募集急需资金，也是区 管国有企业积极推动市场化转型、拓展业务范围的有益尝试，进一步强化了金融对实体经济的支撑效 能。 央广网天津11月28日消息（记者周思杨）近日，全国首单以产业园区集合类科技创新企业为基础资产的 资产支持证券项目成功发行，标志着天津港保税区在金融支持科技创新、服务实体经济发展方面迈出关 键一步。 ...

Core Insights - Chengdu Bank won the "Best Innovative Service City Commercial Bank" award at the "2025 First Financial Value List (CFV)" ceremony, highlighting its achievements in financial services and innovation [1][2] - The award signifies Chengdu Bank's commitment to high-quality development through innovation, particularly in the context of digital finance and inclusive finance [1][2] Group 1: Financial Services and Innovation - Chengdu Bank, established in 1996 and listed in 2018, is the first listed bank in Sichuan Province and the eighth city commercial bank listed on A-shares in China [2] - The bank has integrated its development into national and regional strategies, providing over 1 trillion yuan in credit to the Chengdu-Chongqing economic circle over the past five years, with a projected 300 billion yuan for major projects in 2024 [2][3] - Chengdu Bank has supported over 28 billion yuan in rail transit and TOD projects in 2024, contributing to significant infrastructure developments [2] Group 2: Industry Focus and Support - The bank focuses on industrial collaboration in sectors such as electronic information, aerospace, green low-carbon, and health, providing over 15 billion yuan in credit to more than 200 core technology enterprises in Sichuan [3] - Chengdu Bank has pioneered cultural and creative finance, establishing the first specialized branch in the Midwest and launching innovative products like "Cultural Creative Pass" and the first asset-backed note (ABN) project backed entirely by copyrights [3] Group 3: Financial Innovation Practices - Chengdu Bank has actively engaged in the "Five Major Financial Articles" initiative, demonstrating how finance can drive local economic development through innovative measures [4] - The bank established a technology branch in 2009, creating a specialized team and products to support technology finance, becoming a hub for innovation in Sichuan [4] - In green finance, Chengdu Bank has launched various products such as "green bonds" and "carbon emission rights pledge loans," increasing credit support for clean energy and environmental protection [4] Group 4: Inclusive and Elderly Finance - The bank has developed diverse financial products for the elderly, enhancing services through partnerships with communities and institutions, and utilizing big data and AI for personalized services [5] - Chengdu Bank has introduced products tailored for small and medium-sized enterprises, such as "Growth Loan" and "Cultural Creative Pass," streamlining processes and reducing costs to promote inclusive finance [5] - The recognition as the "Best Innovative Service City Commercial Bank" reflects both an honor and a responsibility, positioning Chengdu Bank as a model for transformation in the city commercial banking sector [5]

Core Insights - The 20th China Economic Forum and the 2025 Greater Bay Area Technology and Financial Innovation Development Conference successfully took place in Shenzhen, where the "14th Five-Year Plan" financial innovation excellent cases were announced, with Guangdong Financial Trust's case on "Supporting the Issuance of Intellectual Property Securitization Products" awarded the "Collaborative Innovation Case" award, reflecting the company's active role in implementing the national innovation-driven development strategy [1][2] Group 1 - During the "14th Five-Year Plan" period, the government is vigorously promoting technological innovation through various policies, including the "Plan for Deepening the Reform of the Technology Reward System," aimed at encouraging independent innovation [2] - Many technology companies possess substantial intellectual property but face challenges such as difficulty in intangible asset evaluation, unstable cash flow, and poor liquidity, making it hard for these assets to gain recognition in traditional credit systems [2] - Guangdong Financial Trust proposed an innovative operation model of "government-led + multi-party collaboration + financial innovation" in the "Supporting the Issuance of Intellectual Property Securitization Products" case, issuing the "Guangdong Financial Trust Intellectual Property No. 1 Single Fund Trust Plan," which primarily provides trust loans to high-tech enterprises in Shaoguan with patent rights [2][3] Group 2 - The trust funds are transferred to the "Shaoguan City-Guangdong Financial-Guangdong Intellectual Property-Guohai Securities Intellectual Property Phase 1 Asset-Backed Special Plan," effectively lowering financing costs for enterprises and facilitating the issuance of the first non-local enterprise securitization product in the country and the first intellectual property securitization product in Guangdong's eastern and northern regions [2] - Guangdong Financial Trust has actively promoted business transformation and strengthened business model innovation, leading to the launch of several innovative products, including the first national public utility green technology asset securitization product and the first charitable trust supporting astronomical infrastructure in the country [3] - Looking ahead, Guangdong Financial Trust aims to continue implementing the national innovation-driven development strategy, deepen financial innovation, and optimize service models, contributing to the construction of an international technology innovation center in the Guangdong-Hong Kong-Macao Greater Bay Area [3]