第八届立信金融论坛日前在上海召开。本届论坛由上海立信会计金融学院金融学院和中国社科院财经战 略研究院《财贸经济》编辑部共同主办，主题为"金融强国建设与金融高水平开放"。 上海立信会计金融学院党委副书记刘艳表示，建设金融强国与推动高水平开放，是走好中国特色金融发 展之路的重要路径。上海作为国际金融中心，肩负先行先试使命，应在制度型开放等方面走在前列，贡 献核心力量。 中国社科院财经战略研究院原院长、中国社会科学院大学商学院院长何德旭表示，构建中国特色、全面 覆盖、高效灵活的金融监管体系至关重要，尤其要聚焦金融科技、绿色金融等重点领域，推动其创新发 展；要加强中央与地方监管协同，倡导支持型、服务型监管理念，在确保金融安全与激发创新活力间寻 求最佳平衡。 上海财经大学党委常委、副校长、教育部长江学者特聘教授刘莉亚表示，强监管和促发展在微观机制上 是内在统一、并行不悖的。她建议，要通过监管智慧和银行能力的共同进化，推动监管引导银行从"被 动合规"转向提升自身竞争力的"主动治理"。 上海交通大学文科建设处处长、教育部长江学者特聘教授吴文锋表示，政府部门内和部门间的取向一致 性均是实体效应的重要来源，其中在经济类和执行类 ...

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - The Fed's June interest rate decision and the geopolitical situation in the Middle East have influenced the market, and the A - share market is in a sideways - oscillating state. Investors should be patient and wait for better trading opportunities [14][15] Group 3: Summary by Directory 1. Market Overview and Market Review 1.1 Overall Market Performance on the Day - On June 19, 2025, the three major A - share indices declined. The Shanghai Composite Index fell 0.79% to 3362.11 points, the Shenzhen Component Index dropped 1.21% to 10051.97 points, and the ChiNext Index decreased 1.36% to 2026.82 points. The trading volume of the Shanghai and Shenzhen stock markets reached 1.2506 trillion yuan, an increase of 59.6 billion yuan from the previous day. The four major stock index futures also adjusted after closing [2] 1.2 Futures Market Data - IF2506 closed at 3840.4 points, down 30.8 points or 0.80%, with a trading volume of 43,781 lots, an open interest of 37,486 lots, a daily decrease of 18,151 lots, and a capital outflow of 5.146 billion yuan. IF2507 closed at 3798.4 points, down 31.4 points or 0.82%, with a trading volume of 28,537 lots, an open interest of 55,095 lots, a daily increase of 1,248 lots, and a capital inflow of 3.315 billion yuan [7] 1.3 Spot Market Data - On June 19, 2025, the overall index price was stable. The CSI 300 Index closed at 3843.09 points, down 31.88 points from the previous trading day [9] 2. Analysis of Influencing Factors 2.1 Comments on Important News and Events on the Day - The Fed announced to keep the current interest rate unchanged in its June interest rate decision, but the number of officials supporting two interest rate cuts this year decreased, showing a marginal hawkish signal. The Fed also lowered the GDP growth forecast to 1.4% and raised the inflation forecast to 3%, indicating increased concerns about the risk of stagflation in the US economy [12][13] - On June 18, the CSRC Chairman Wu Qing proposed three major reform directions at the Lujiazui Forum, including deepening the "1 + 6" reform of the STAR Market, enabling the third set of standards for the ChiNext Board, and implementing new regulations on mergers and acquisitions. These policies are expected to make the A - share market more active in the capital operations of technology - innovation enterprises [12] 2.2 Tracking and Interpretation of Related Data - In the overseas market, the US dollar index rose, the US Treasury bond yield first fell and then rose, the 10 - year US Treasury bond yield slightly declined, the prices of gold and crude oil futures both fell, the three major US stock indices showed a differentiated trend, the Nasdaq Golden Dragon China Index declined, and the offshore RMB exchange rate rose after fluctuations. The market focus remains on the situation in the Middle East [12][13]