Group 1 - The Chinese asset management industry is entering a golden development period, with the total scale of entrusted management approaching 180 trillion yuan [1] - Bank wealth management and insurance asset management, which together account for approximately 70 trillion yuan, are identified as the core forces in the asset management market [1] - These sectors serve three main functions: providing a variety of products for long-term wealth growth, offering long-term financing support for stable capital market operations, and injecting continuous financial resources into the real economy for high-quality development [1] Group 2 - Insurance funds have supported major strategic areas such as the Yangtze River Economic Belt and the Greater Bay Area, with a registered scale exceeding 3 trillion yuan [2] - As of the end of Q3 this year, the balance of long-term equity investments by insurance funds exceeded 2 trillion yuan, providing full lifecycle support for technological innovation and emerging industries [2] - Insurance funds have actively participated in the construction of the capital market, with a total investment in stocks and securities investment funds reaching 5.6 trillion yuan, enhancing the role of cornerstone investors [2]

中经记者 樊红敏 北京报道 在资本市场建设方面，保险资金积极参与科创板改革，通过优化投资者结构、稳定估值、平滑波动，营 造良好融资环境。截至今年三季度末，人身险公司和财产险公司投资于股票和证券投资基金的余额合计 为5.6万亿元，长期股票投资试点运行良好，余额超2200亿元，切实发挥了基石投资者功能，提升了直 接融资比重。 "在当前发展的关键阶段，金融市场改革持续深化，大资管行业加速进入了一个发展黄金期。"12月12 日，在第十九届华夏机构投资者年会上，中国银行保险资产管理业协会党委委员、秘书长贺竹君称。 此外，贺竹君还特别介绍了保险资金服务国家战略与赋能新质生产力的进展。 在重大战略领域，保险资金通过债权、股权投资计划支持长江经济带、京津冀协同发展、大湾区建设等 项目，登记规模超3万亿元；同时加大对医疗健康、绿色环保、新能源、半导体等产业的投资力度。 在培育耐心资本方面，截至今年三季度末，保险资金长期股权投资余额超2万亿元，通过"直投+基金"双 轮驱动，为科技创新与战略性新兴产业等新质生产力领域提供全生命周期支持。 据贺竹君介绍，目前，国内大资管市场受托管理总规模接近180万亿元，其中，由国家金融监督管理总 ...

【环球网财经综合报道】"在当前发展的关键阶段，金融市场改革持续深化。大资管行业加速进入了一 个发展黄金期。"12月12日，在华夏时报主办的第十九届华夏机构投资者年会暨华夏金融（保险）科技 论坛上，中国银行保险资产管理业协会党委委员、秘书长贺竹君称。 他进一步指出，作为资管市场重要的资金管理者和机构投资者，银行理财和保险资管发挥着多方面的基 本职能。 其一，为居民财富的长期稳健增值提供丰富的产品工具，是主要产品供应者之一；其二，为资本市场的 稳定运行提供长期融资支持，基石投资者角色影响力日益凸显；其三，为实体经济高质量发展持续注入 源头活水，通过提供股权性资本供给和直接融资，助力新质生产力的培育壮大。同时，其是长期资金、 耐心资本及股权性资金的主要供给者。 此外，贺竹君表示，银行保险资管业的活力、韧性及赋能效应可从以下层面得以体现： 市场主体层面，保险资管形成了以36家保险资产管理公司为核心，16家保险私募基金公司为补充，200 余家保险资产管理中心和部门为主干的多元体系，并汇聚超过1.2万名专业投资者。在银行理财领域， 目前有32家银行理财子公司凭借着广泛渠道覆盖、灵活服务模式，面向广大投资人提供普惠金融的服 ...

银行理财与保险资管双支柱作用显著 本报（chinatimes.net.cn）记者吴敏 北京报道 12月12日，由华夏时报社主办的第十九届华夏机构投资者年会暨华夏金融（保险）科技论坛在北京成功 举办。 本届论坛以"活力与韧性 拓新与赋能"为核心主题，由中央财经大学数字经济融合创新发展中心、华夏 时报金融思想荟、华夏时报金融研究院联合提供智力支持，意在回应时代之问，凝聚发展共识，探寻未 来路径。 中国银行保险资产管理业协会党委委员、秘书长贺竹君发表致辞指出，我国大资管行业正步入发展黄金 期，银行理财与保险资管合计受托管理规模约70万亿元，已成为资本市场稳定运行的"压舱石"和实体经 济长期资金的重要供给者。 他强调，行业将持续聚焦服务国家战略、培育耐心资本与支持新质生产力。同期，协会完成更名换届， 标志着我国资管行业自律管理进入协同发展的新阶段。 重点投向国家重大战略、新质生产力及耐心资本领域 贺竹君特别介绍了保险资金服务国家战略与赋能新质生产力的进展。在重大战略领域，保险资金通过债 权、股权投资计划支持长江经济带、京津冀协同发展、大湾区建设等项目，登记规模超3万亿元；同时 加大对医疗健康、绿色环保、新能源、半导体 ...

专题：第十九届华夏机构投资者年会暨华夏金融（保险）科技论坛 专题：第十九届华夏机构投资者年会暨华夏金融（保险）科技论坛 12月12日金融一线消息，"第十九届华夏机构投资者年会暨华夏金融（保险）科技论坛"今日召开。中国 银行保险资产管理业协会党委委员、秘书长贺竹君出席并致辞。 贺竹君指出，我国大资管行业已进入发展黄金期，目前国内大资管市场的受托管理规模总量达到了176 万亿左右，其中银行理财与保险资管合计受托管理规模约70万亿元。 贺竹君强调，当前，正处于"十五五"谋篇布局阶段，我国经济回升向好势头巩固，居民对于财富管理的 需求持续增加，实体经济特别是科技创新和新模式转换的融资需求有所增大，保险业保持着高质量发展 的速度，这些都十分有利于银行保险资产管理业的发展，行业的发展也进入了持续的快速发展的黄金 期。 贺竹君表示，中国银行保险资产管理业协会将在金融监管总局的指导下，积极发挥桥梁纽带作用，深化 行业自律管理，引导行业增强投研能力建设，搭建机构交流平台，促进资管产品的服务创新，共同为实 体经济高质量发展、加快建设金融强国贡献积极的力量。 12月12日金融一线消息，"第十九届华夏机构投资者年会暨华夏金融（保险） ...

Core Insights - The 19th Shenzhen International Financial Expo opened on November 19, featuring the "2025 China Financial Institutions Annual Conference and China Securities Asset Management Summit" [1] - The asset management industry is experiencing new opportunities for high-quality development amidst growth and diversification, but also faces new challenges [1] Industry Overview - The overall scale of the asset management industry has exceeded 164 trillion yuan this year, highlighting structural differentiation within sub-sectors [1] - Public funds, insurance asset management, bank wealth management, and trusts collectively exceed 30 trillion yuan, indicating an intensifying Matthew effect [1] - In contrast, private equity, securities asset management, and futures asset management are facing severe competitive pressures [1] Securities Asset Management Specifics - The entrusted scale of securities asset management stands at 7 trillion yuan, which has stabilized in the short term, but the industry requires new growth breakthroughs due to the end of large collective rectifications and declining fixed-income asset yields [1] - Only 14 securities firms and asset management subsidiaries currently hold public fund management qualifications, with a market share of only 2% in the public fund sector and an incremental share of 2% this year [1] - The intense competition in the public fund space demands higher comprehensive capabilities from securities asset management firms [1]

Core Viewpoint - 华夏理财 has achieved a significant milestone by surpassing 1 trillion yuan in asset management, marking both a culmination of its first five years and the beginning of a new phase of growth [1] Group 1: Growth Strategy - The company emphasizes a market-oriented development approach, achieving a 60% share of external sales and direct sales, the highest in the market [1][2] - The "理财工厂" (Wealth Management Factory) model has been upgraded to a 2.0 version, focusing on customized production, standardized processes, and digital transformation [2] - The integration of sales and investment (投销一体化) enhances collaboration and responsiveness to market demands, improving overall efficiency [2][3] Group 2: Market Environment - The growth of 华夏理财 is supported by favorable industry trends, including a shift from bank deposits to wealth management products due to declining deposit rates [3] - The company acknowledges the challenges of maintaining stable product quality and differentiating itself in a competitive market where product styles are becoming increasingly similar [3][4] Group 3: Investment Strategy - The company is actively increasing its equity investment, leveraging index funds and enhancing its investment team to better navigate market conditions [5][6] - There is a focus on developing a systematic equity research framework to improve investment capabilities and meet client preferences [6][7] Group 4: Future Outlook - The company plans to invest more in technology finance, aiming to build a robust capability system around core industries and enhance its equity investment business [8][9] - By integrating external research resources and forming specialized teams, the company seeks to effectively convert social capital into technology capital, supporting its growth and contributing to national financial goals [9]

Group 1 - The asset management industry is transitioning from "scale expansion" to "quality improvement," driven by favorable economic conditions, structural diversity, and a growing middle-income population in China [1][2] - In the first half of the year, China's GDP grew by 5.3%, indicating stable economic progress and the continuous expansion of the asset management market [1] - By the end of 2024, Shanghai is expected to have 1,782 licensed asset management institutions, with foreign financial institutions accounting for one-third of this total, showcasing Shanghai's attractiveness and clustering effect [1] Group 2 - Shanghai Pudong Development Bank (SPDB) has established a "digital intelligence" strategy focusing on five key areas: technology finance, supply chain finance, inclusive finance, cross-border finance, and financial asset management [2] - SPDB's total assets have surpassed 9.6 trillion yuan, ranking 19th in the "Global Bank 1000" list by "Banker" magazine for 2025 [2] - The bank aims to provide comprehensive and friendly services by adhering to the principles of brand globalization, diversified asset allocation, long-term value, and digital ecological development [2]

Core Viewpoint - The asset management industry is transitioning from "scale expansion" to "quality improvement," driven by favorable economic conditions, the development of Shanghai as an international financial center, and a growing middle-income group in China [3][4]. Group 1: Economic Context - China's GDP grew by 5.3% year-on-year in the first half of the year, indicating stable economic progress and high-quality development [3]. - The asset management market in China is expanding, with a more diverse industry structure, showcasing a "hundred flowers blooming" scenario [3]. Group 2: Industry Development - By the end of 2024, Shanghai is expected to have 1,782 licensed asset management institutions, with foreign financial institutions accounting for one-third of this total, highlighting Shanghai's attractiveness and clustering effect [3]. - The bank has established a "digital intelligence" strategy focusing on five key areas: technology finance, supply chain finance, inclusive finance, cross-border finance, and financial asset management [3]. Group 3: Future Outlook - The bank aims to adhere to the mission of building a strong financial nation and fulfilling its responsibility to serve the public, focusing on "one center and four developments" [4]. - The implementation paths include global brand integration, diversified asset allocation, long-term value creation, and a digital ecosystem for asset management services [4][5].

Core Insights - The report by CITIC Financial Holdings analyzes the domestic asset management industry, highlighting its scale, performance, product innovation, and internationalization trends [1] Industry Overview - As of the end of 2024, the overall asset under management (AUM) in China's asset management industry is approximately 163.16 trillion yuan, with various segments contributing as follows: - Bank wealth management: 29.95 trillion yuan - Public funds: 32.83 trillion yuan - Pension funds managed by fund companies: 5.94 trillion yuan - Private asset management by securities and futures institutions: 12.18 trillion yuan - Private equity funds: 19.91 trillion yuan - Trust assets managed by trust companies: 27.00 trillion yuan - Insurance fund utilization balance: 33.26 trillion yuan - Asset-backed special plans: 2.07 trillion yuan [1] Performance Analysis - In Q1 2025, the performance of public funds showed notable results, with REITs achieving the highest index return of 9.76%. Conversely, pure bond funds experienced a decline. - Among fund products, domestic passive bond funds and medium to long-term pure bond funds averaged losses, while other products averaged profits, with commodity funds (14.99%) and REITs funds (11.82%) showing the best average performance. - Private equity funds demonstrated strong performance in macro strategies, subjective stock, quantitative long, long-short, arbitrage, and convertible bond strategies, while futures, trend-following, and pure bond strategies underperformed [4] Product Innovation - The report identifies three key advancements in product innovation for Q1 2025: - Bank wealth management is focusing on customer-centric personalized wealth management solutions - Public ETFs are seeing growth, with multiple free cash flow index ETFs launched across various sectors, and the total scale of ETFs related to the Sci-Tech Innovation Board reaching 250 billion yuan - Cross-border products are expanding, with 26 domestic ETFs included in the northbound product pool and mutual recognition fund quotas being eagerly pursued by mainland investors [5] Policy Support - The report emphasizes that recent policy documents, such as those promoting long-term capital market investments and enhancing the functional positioning of asset management institutions, are driving the industry towards standardization and professionalism [5]