12月11日，由中外企业文化、北京商报社主办的2025年度北京商业品牌大会金融消费专题论坛在北京召开。上海金融与发展 实验室首席专家、主任曾刚就"十五五"期间金融工作的重点与前瞻发表演讲。他指出，"十五五"是我国承上启下的关键五 年，金融工作将紧紧围绕国家战略，回归本源、服务实体经济，加快推进金融强国建设。 消费领域仍是关注重点，但"结构变化与新兴变化需要我们把握和捕捉"。金融从业者需提升对产业与科技的认知能力，在规 范发展中捕捉新的增长空间，真正实现"回归本源、服务实体"的初心使命。 在此背景下，金融领域的改革方向也相应明确。 从"十五五"规划建议关于金融的表述来看，曾刚对比指出，"十四五"期间金融工作的主题是"深化金融供给侧改革"，旨在解 决金融总量过剩、结构失衡问题，政策环境相对偏紧；而"十五五"规划建议则明确提出"加快金融强国建设"，标志着基础工 作已基本完成，政策环境将更加积极，金融体系进入发力支持高质量发展的新阶段。 与之相应，资本市场的定位也更趋重要，从偏重融资功能转向"投资与融资功能协调发展"，意味着更注重市场的健康与长期 价值培育。在人民币国际化方面，表述也从"稳慎推进"调整为直接"推进人民 ...

中新网重庆12月12日电 题：做民生 "缓冲垫" 当产业 "压舱石" 重庆保险业惠企利民促发展 作者 马佳欣 在两江新区，外卖小哥、网约车司机等新市民也有了专属保障。针对出行、外卖等高风险行业，当地推 出新就业形态职业伤害保障，由平台缴费，劳动者免费享受保障。这个采用"政府主导+商保承办"模式 的保障项目，按行业差异化定价(出行每单0.04元、同城货运0.2元)，已覆盖12万新业态从业者，2023年 以来赔付4300余笔、超5000万元。 产业"压舱石" 筑牢屏障护企发展 走进重庆市荣昌区三惠餐饮文化股份有限公司展厅，卤鹅、板鹅、风干鹅、酱鹅等一系列与鹅相关的美 食陈列其间，展示着荣昌餐饮文化的主打特色。"卤鹅飘香的背后，是保险为我们撑起了安全伞。"该公 司负责人邹朝文说，随着"荣昌卤鹅"名气越来越大，企业规模不断扩大，但食品安全、员工安全等风险 也随之而来。中国人寿保险股份有限公司重庆市荣昌区支公司为企业定制了"食品安全责任险+员工意 外险+雇主责任险"的组合方案，累计提供超亿元风险保障，为企业从生产到经营全方位保驾护航。 "我们除了提供承保，更多的是深度参与风险管理。"在能源输送的"最后一公里"，英大泰和 ...

Core Insights - The conference emphasized the importance of identifying, cultivating, and leveraging growth advantages in the context of profound changes in economic conditions [1][3] Group 1: Growth Advantages - The first advantage discussed is the "catch-up potential," which remains stable from both demand and technology perspectives, requiring a humble and willing attitude to learn for significant growth at lower costs and shorter timeframes [1][3] - The second advantage is the "new technological revolution," where China has a relatively small gap in digital and green technologies, allowing it to either catch up or lead in certain fields [1][3] - The third advantage is the "super-large market economy," which encompasses all categories of industries classified by the United Nations, providing a larger innovation network and more sources of innovation [1][3] Group 2: National Strengths - Based on these three advantages, the next step is to promote the construction of three national strengths: manufacturing, consumption, and financial power [2][4] - The emphasis is on building a modern financial system to support the manufacturing and consumption power of the country [2][4]

近日，中央经济工作会议在北京召开。通过深入学习领会会议精神，申万期货公司上下深受鼓励、倍感 振奋，同时深感使命在肩，公司必须以更高政治站位、更强使命担当将党中央决策部署转化为服务实体 经济、防范化解风险的具体行动，努力书写好金融强国建设进程中的期货篇章。 深入学习领会中央经济工作会议精神，积极践行金融工作的政治性与人民性。本次会议以"稳中求进、 提质增效"为总基调，明确了宏观政策取向与八大重点任务。从政策导向看，积极的财政政策与适度宽 松的货币政策形成合力，为实体经济注入活力，也为期货市场提供了稳定的政策环境。从任务部署看， 无论是扩大内需、创新驱动，还是绿色转型、风险化解，都与期货功能紧密相关。期货及衍生品作为风 险管理核心工具，在价格发现、套期保值等方面的作用，正是落实"提升宏观经济治理效能"要求的重要 支撑。申万期货将自觉把思想和行动统一到党中央对形势的科学判断和决策部署上来，践行金融工作的 政治性与人民性，找准期货服务经济大局的切入点。 坚定发展信心，在强化党建引领中凝聚奋进力量。会议传递的发展信心，是我们奋进的底气。当前，我 国经济长期向好的基本面未变，政策集成效应持续释放，特别是资本市场投融资改革 ...

南开大学金融发展研究院院长田利辉认为，中央经济工作会议的这一安排是顶层设计对资本市场功 能定位的战略性升级，其核心考量有三层。一是服务新质生产力的迫切要求。二是破解当前经济核心矛 盾的现实需要。三是夯实金融强国建设的制度基础。"连续两年聚焦，表明这不是短期刺激，而是构建 安全、规范、透明、开放、有活力、有韧性的现代资本市场体系的'持久战'，关乎国家金融竞争力的全 局。" 回顾过去一年中国资本市场投融资综合改革，薛洪言认为，改革在多方面取得扎实进展。一方面， 投资端呈现积极变化，中长期资金入市步伐加快，公募基金规模创下历史新高，保险资金权益投资比例 稳步上升。另一方面，融资端的制度包容性持续增强，科创板"1+6"改革允许未盈利硬科技企业上市， 并购重组"绿色通道"有效促进了产业整合，推动A股"含科量"显著提升。 中新社北京12月11日电 (记者 陈康亮)中央经济工作会议12月10日至11日在北京举行。会议提出， 持续深化资本市场投融资综合改革。这是中央经济工作会议连续两年部署"资本市场投融资综合改革"。 田利辉认为，过去一年的改革突出体现了"融资端激活"与"投资端筑基"的双向发力。但不足之处依 然明显，如投资端 ...

Core Viewpoint - The insurance industry, particularly China Life Insurance Co., is focusing on high-quality transformation and reform to align with national development goals and enhance its role in serving the public and the economy [2][3]. Group 1: Business Development and Market Position - As of November 30, 2025, China Life's total premium income is expected to exceed RMB 700 billion, marking a significant breakthrough compared to the total premium income for 2024 [2]. - China Life has provided insurance services to over 600 million customers, with compensation payments exceeding RMB 160.9 billion in the first half of 2025, including over RMB 34 billion for health insurance [3][6]. - The company has actively participated in the construction of the third pillar of pension insurance, with individual pension premium income showing significant growth [3][5]. Group 2: Product Innovation and Customer Service - In the health insurance sector, China Life has launched various products addressing real health needs, including insurance for middle-aged and elderly individuals [4]. - The company is expanding its pension insurance offerings and has developed a diverse range of commercial annuity products to meet various retirement needs [5]. - China Life is transitioning from a "post-compensation" model to an "insurance + service" model, enhancing its health and elderly care service systems [5]. Group 3: Growth and Internal Dynamics - China Life emphasizes value creation and efficiency improvement as its core operational strategy, adapting to the increasingly diverse and personalized insurance needs of consumers [7]. - The company has diversified its product offerings and accelerated channel transformation, achieving a new business value growth of 41.8% in the first three quarters of 2025 [8][9]. - The total sales force reached 657,000 by September 30, 2025, with a focus on enhancing the quality and retention of its sales team [8]. Group 4: Long-term Investment Strategy - China Life is committed to long-term and value investment principles, aligning its investment strategies with national economic needs and regulatory guidance [11][12]. - The company has increased its equity investments significantly, with over RMB 380 billion added to its public market equity holdings by the third quarter of 2025 [12]. - China Life is also investing in strategic emerging industries and innovative asset classes, including technology and green transition projects, to enhance its investment portfolio [12][13].

Core Viewpoint - The article discusses the strategic direction and responsibilities of China Great Wall Asset Management Co., Ltd. in the context of the 14th Five-Year Plan, emphasizing its role in supporting high-quality economic and social development during this period [1][2]. Group 1: Strategic Alignment with National Goals - The company aims to enhance its understanding of national strategies and improve its capacity to serve the overall development of the country, aligning its operations with the central government's directives [2][3]. - It emphasizes the importance of adhering to the Party's leadership in financial governance, ensuring that its development strategies and business operations are consistent with national policies [2][3]. Group 2: Focus on High-Quality Development - The company is committed to high-quality development by optimizing its business models and operational strategies, focusing on compliance, scientific asset allocation, and effective collaboration [3][4]. - It aims to enhance its capabilities in asset value discovery and restructuring, reinforcing its core business of non-performing asset disposal and corporate rescue [3][4]. Group 3: Key Business Areas for Future Development - The company plans to support the construction of a modern industrial system by providing financial support for technological innovation and upgrading traditional industries, particularly in critical sectors like integrated circuits and renewable energy [4][5]. - It is actively involved in revitalizing distressed real estate projects and facilitating the circulation of assets to support domestic economic cycles [5][6]. Group 4: Risk Management and Financial Stability - The company has participated in the resolution of risks in small and medium-sized financial institutions, acquiring over 220 billion yuan in non-performing debts in the past three years to mitigate regional financial risks [6][7]. - It aims to enhance its risk management capabilities through a modern governance structure and comprehensive risk control systems, ensuring sustainable development [7][8]. Group 5: Technological Empowerment and Digital Transformation - The company is focusing on digital transformation by implementing an "AI + Empowerment" strategy to enhance asset valuation, business review, and risk management through intelligent technologies [8].

Core Viewpoint - The company emphasizes the integration of the spirit of the 20th National Congress of the Communist Party into its operations, aiming to enhance cultural soft power and fulfill its responsibilities in serving national strategies and the real economy [1][2][10]. Group 1: Cultural and Political Direction - The company is committed to embedding the Party's leadership throughout its cultural construction and management processes, aligning with the "14th Five-Year Plan" strategic goals [2][3]. - A cultural leadership team has been established to promote the core requirements of "Five Musts and Five Must Nots," ensuring that these principles are internalized and practiced by all employees [5][6]. Group 2: Governance and Compliance - The company has incorporated Party leadership into its governance structure, ensuring clarity in responsibilities and efficient operations, while continuously optimizing its ESG governance system [3][4]. - It has implemented strict compliance measures across all levels, enhancing risk management and establishing a professional compliance management team [6][4]. Group 3: Financial Services and Innovation - The company is focused on high-quality development by optimizing its business structure and innovating service models, particularly in green finance and supporting high-tech enterprises [7][8]. - It has actively participated in the construction of the third pillar of pension finance, launching various pension fund products and enhancing services for the elderly [9]. Group 4: Community and Social Responsibility - The company has made significant contributions to rural revitalization and the development of revolutionary old areas, with substantial investments and projects benefiting over 400,000 people [8]. - It has engaged in various cultural activities to foster a positive work environment and enhance employee engagement in serving national strategies [6][5]. Group 5: Future Outlook - Looking ahead, the company aims to deepen its commitment to the spirit of the 20th National Congress and contribute to the construction of a financial power by focusing on high-quality development and strengthening its cultural foundation [10].

Core Viewpoint - The 20th Central Committee of the Communist Party of China has set clear requirements for accelerating the construction of a financial power during the 14th Five-Year Plan period, emphasizing the integration of political and people-oriented aspects into financial work [1][2]. Group 1: Company Strategy and Governance - The company emphasizes the importance of integrating the spirit of the 20th Central Committee into its operations, ensuring that the Party's leadership is embedded in cultural construction and management processes [2][3]. - The company has incorporated Party leadership requirements into its articles of association and governance processes, aiming to create a clear and efficient governance structure [3]. - The company is committed to enhancing discipline and compliance, focusing on the implementation of the Central Eight Regulations and promoting a culture of integrity [3]. Group 2: Cultural Development - The company aims to deepen the integration of the "Five Musts and Five Must Nots" cultural requirements into its operational framework, transforming cultural advantages into core driving forces for serving national strategies [4][7]. - A leadership group for cultural construction has been established, with over 300 personnel dedicated to promoting cultural values and activities within the organization [4]. Group 3: Talent and Risk Management - The company is focused on building a strong professional talent pool, enhancing political and operational capabilities through training and competitions [5]. - Strict compliance with regulatory requirements is being enforced, with a comprehensive risk management system in place to address potential risks effectively [5]. Group 4: Financial Services and Contributions - The company is actively involved in green finance, having financed 18.23 billion yuan for green industries in the first three quarters of the year, representing a 34.6% increase year-on-year [7]. - The company has also contributed to rural revitalization and the development of revolutionary old areas, underwriting 1.79 billion yuan in bonds for these initiatives [8]. - The company is expanding its offerings in pension finance, launching new pension fund products and enhancing services for the elderly [8]. Group 5: Digital Transformation - The company is leveraging digital technology to enhance operational efficiency, with significant improvements in its digital platform and automation of processes [9]. - The company has implemented over 100 optimizations in its digital services, resulting in a substantial increase in user registrations [9].

Group 1 - The banking industry in 2026 will face a mixed external environment with strong macroeconomic resilience but insufficient effective demand, leading to continued moderate monetary policy and challenges in asset allocation due to a low interest rate environment [4][10] - The "14th Five-Year Plan" emphasizes the construction of a financial powerhouse, urging banks to leverage their resource endowments and deepen their strategic initiatives over the next five years [4][10][22] - The overall financial performance of listed banks is expected to improve in 2026, driven by the recovery of net interest income and non-interest income, with a projected net profit growth of 2.4% year-on-year [4][27] Group 2 - The net interest margin is expected to narrow by 6 basis points in 2026, with net interest income growth projected to rise to 4% compared to 0.3% in 2025 [4][27] - Non-interest income is anticipated to continue improving due to the recovery of wealth management opportunities and the fading impact of fee reductions from previous years [4][27] - The overall asset quality of the banking sector is expected to remain stable, with a focus on monitoring risks in the retail sector [4][27] Group 3 - The investment strategy emphasizes high dividend yields as a protective measure, with the banking sector's average dividend yield at 3.94%, providing a significant premium over ten-year government bonds [4][27] - Specific banks such as Chengdu Bank, Jiangsu Bank, and Shanghai Bank are highlighted for their strong regional advantages and potential for continued dividend growth [4][27][34] - The report suggests that the active capital market will provide a potential boost to quality retail banks, enhancing their recovery prospects [4][27]