Core Viewpoint - The speech by Li Yunzhe emphasizes the need to enhance the adaptability of the financial system to the economy, promote a new model of financial services that balances direct and indirect financing, and ensure the prevention of systemic financial risks [1][2][8]. Group 1: Financial Adaptability and New Models - The core task of current financial reform is to enhance the adaptability of the financial system to better support sustainable economic and social development [2]. - The proposed new financial service model includes collaboration between direct and indirect financing, equal investment in physical and human capital, matching financing terms with industry development, and linking domestic and international markets [2][3]. - The focus is on providing more financial resources for traditional industries' optimization and the growth of emerging industries, particularly in areas like intelligence, green technology, and integration [2]. Group 2: Financial Institution Reforms - Several large banks have established or are in the process of establishing financial asset investment companies (AICs) to convert bank funds into long-term capital supporting technological innovation and industrial upgrades [4][5]. - The establishment of AICs is seen as a key measure to optimize financing structures and enhance the quality of financial services to the real economy [4][5]. Group 3: Financial System Opening and Regulation - Financial opening is entering a new phase characterized by comprehensive, multi-level, and wide-ranging reforms, which is essential for deepening supply-side structural reforms in finance [5][6]. - The National Financial Regulatory Administration is committed to enhancing the development dynamics and vitality of the financial industry through continuous reform and opening up [5][6]. - Recent policies have significantly relaxed restrictions on foreign investment in various financial sectors, allowing foreign financial institutions to accelerate their entry into the Chinese market [6][7]. Group 4: Risk Management and Institutional Restructuring - The emphasis on risk management includes a commitment to prevent systemic financial risks while promoting the merger and restructuring of small and medium-sized financial institutions [8][9]. - The current challenges faced by small and medium-sized banks include deteriorating asset quality and insufficient capital, necessitating internal reforms and improved governance [8][9]. - The integration of digital tools is expected to enhance the early identification and management of financial risks, contributing to overall financial stability [9].