Core Viewpoint - The Shanghai Financial Court introduced the "Several Opinions on Serving and Guaranteeing the Development of Financial 'Five Major Articles'" to enhance judicial support for financial development, focusing on specific measures for various financial sectors [1][4]. Group 1: Overall Requirements - The "Several Opinions" consist of three main parts: overall requirements, specific measures, and supporting guarantees, totaling 18 articles [1]. - The document emphasizes the need to elevate judicial support capabilities, particularly in the technology finance sector, by improving the special trial mechanism for the Sci-Tech Innovation Board [1][6]. Group 2: Specific Measures - The "Several Opinions" outline specific measures for five financial sectors: technology finance, green finance, inclusive finance, pension finance, and digital finance, detailing 35 types of new financial dispute adjudication concepts and 21 actionable judicial support mechanisms [4][6]. - In technology finance, the focus is on enhancing the special trial mechanism for the Sci-Tech Innovation Board and streamlining loss assessment procedures for third-party institutions [1][6]. - In green finance, collaboration with the Shanghai Environment Energy Exchange is planned to explore new carbon trading models, ensuring maximum value realization of carbon trading products [7]. - For inclusive finance, mechanisms to incentivize trust and credit repair will be established to support small and micro enterprises in obtaining loans [7]. Group 3: Supporting Guarantees - The "Several Opinions" stress the need to improve financial trial execution mechanisms, support temporary arbitration, and enhance execution collaboration to create an optimal international financial dispute resolution environment [8]. - The document aims to balance financial innovation with risk prevention through regular publication of typical financial cases and legal risk prevention reports [8]. - It also emphasizes the importance of cultivating financial trial talent to build a highland of composite financial trial professionals [8]. Group 4: Typical Cases - Ten typical cases were released, reflecting potential risk issues in the development of the financial "Five Major Articles," particularly in technology finance where financing difficulties exist due to stringent buyback obligations [9][10]. - The cases illustrate the integration of political, legal, and social effects, showcasing innovative dispute resolution models in green finance [10].

Core Viewpoint - The China Securities Association (CSA) is planning to implement a trial evaluation for securities firms to effectively contribute to the financial "Five Major Articles" by 2025 [1] Group 1 - The CSA is developing a "Special Evaluation Method for Securities Companies to Effectively Contribute to the Financial 'Five Major Articles'" [1] - The evaluation aims to enhance the industry's functional performance and provide a reference for the classification supervision of securities firms [1] - The CSA intends to organize trial evaluations based on the indicators outlined in the evaluation method to ensure the smooth execution of the 2025 evaluation [1]

Domestic News - The National Development and Reform Commission, Ministry of Commerce, and State Administration for Market Regulation announced a campaign to eliminate unreasonable market access barriers, aiming to create a fair market environment and support the construction of a unified national market [1][2] - The Ministry of Commerce reported that in the first quarter, the total service trade import and export amounted to 19,741.8 billion yuan, a year-on-year increase of 8.7%. Exports reached 8,351.5 billion yuan, growing by 12.2%, while imports were 11,390.3 billion yuan, increasing by 6.2%. The service trade deficit was 3,038.8 billion yuan, a decrease of 244.6 billion yuan compared to the same period last year [2] International News - The European Central Bank's inflation expectations survey indicated that consumers' median inflation expectations for the next 12 months and 3 years are 2.9% and 2.5%, respectively, both rising by 0.3 and 0.1 percentage points from the previous survey [3] - A report from Boston Consulting Group stated that Europe's asset management scale reached a historical high of 25 trillion dollars in 2024, a 7% increase from the previous year, although this growth rate is still below the global average [3] - T. Rowe Price analysts expect the Bank of Japan to maintain interest rates unchanged in the upcoming meeting due to ongoing uncertainties surrounding economic growth [3]