每经记者｜王砚丹 每经编辑｜肖芮冬 2025年5月15日，是第七个"5·15全国投资者保护宣传日"。自去年"924新政"以来，A股市场发生了深刻 变化。随着市场活跃度提升，个人投资者开户意愿提升，尤其是2024年10月，单月新开户数近684万 户。上交所数据显示，截至2025年4月30日，个人投资者A股总账户数达到3.78亿户。 如何保护投资者合理权益？如何引导不同人生阶段、不同专业知识的投资者正确看待市场波动？如何增 强投资者获得感？这些均是摆在资本市场管理者、建设者面前的课题。 2019年4月3日，证监会决定将每年5月15日设立为"全国投资者保护宣传日"，该节日旨在向全社会积极 倡导理性投资文化，强化投资者保护意识，全面构建资本市场投资者保护新格局。 七年以来，"5·15"成为投资者共同的节日。《每日经济新闻》记者注意到，相比往年，2025年"5.15全国 投资者保护宣传日"已成为覆盖全国、贯穿线上线下的系统性工程，推动投资者保护从单向宣教向生态 化服务转型，为资本市场高质量发展筑牢根基。 看点一：多方主体积极参与，构建投资者保护公益化服务生态 从"5.15"活动的开展与组织工作来看，监管部门、自律组织、 ...

Core Viewpoint - The article highlights the prevalence of fraudulent stock trading practices on social media, where individuals falsely claim to have high returns using fabricated trading records to lure investors into paid groups or courses [10][11][12]. Group 1: Fraudulent Practices - Many so-called high-return "real trading records" are actually fabricated using stock trading slip generators, which are easily accessible for purchase online [10][17]. - The fraudulent activities often follow a pattern of attracting followers, leading them to paid stock trading courses or groups, creating a gray market for stock recommendations [10][12]. - Individuals posing as stock trading experts often promise high returns and require investors to share their trading accounts for management, which is illegal and poses significant risks to investors [11][12]. Group 2: Social Media Influence - Social media platforms are being used to showcase fake high-return trading slips to attract users to expensive stock trading courses and communities [12][14]. - Some influencers claim to have insider information and encourage followers to mimic their trades, often leading to financial losses for the investors involved [11][16]. - The article notes that these practices are not only misleading but can also lead to criminal charges for those involved in orchestrating such schemes [19][20]. Group 3: Legal and Regulatory Concerns - Experts warn that using simulated trading records for profit constitutes fraud and can lead to severe legal consequences [18][19]. - The article emphasizes the need for investors to be cautious and to enhance their financial literacy to avoid falling victim to such scams [18][19]. - Regulatory bodies are urged to take action against these fraudulent practices, as they undermine the integrity of the financial markets [19][20].

Core Viewpoint - The company, Shouchuang Securities Co., Ltd., is optimizing its branch layout by closing the Shanghai Putuo District Changshou Road Securities Office and transferring its clients to the Shanghai Baoshan District Yinggao Road Securities Office by June 21, 2025 [1][2] Group 1 - The Shanghai Changshou Road Securities Office will cease operations on June 15, 2025, and clients must agree to transfer to the new office or complete account closure procedures by June 11, 2025 [2] - Clients' account details, including account numbers and passwords, will remain unchanged after the transfer, ensuring no disruption in securities trading and fund transfers [1][2] - Any agreements and services previously signed with the Shanghai Changshou Road Securities Office will be inherited by the Shanghai Baoshan District Yinggao Road Securities Office post-transfer [1] Group 2 - Clients who do not wish to transfer must visit any Shouchuang Securities branch with valid identification to complete account closure and related procedures [2] - If clients do not take action by the specified date, they will be considered as agreeing to the transfer to the new office [2] - Contact information for inquiries regarding the closure and transfer process is provided, including customer service hotline and addresses for both offices [2]

Core Viewpoint - The successful execution of the first northbound commodity futures return swap transaction by Shenwan Hongyuan Securities marks a significant step in enhancing cross-border financial services and aligns with national strategies for stabilizing foreign investment and promoting high-level opening-up [1][2]. Group 1: Transaction Details - The FICC Division collaborated with Shenwan Hongyuan (International) Group to complete the first northbound return swap transaction linked to domestic commodity futures, expanding the range of cross-border return swap products offered by the company [1]. - This transaction facilitates a foreign bank's participation in the domestic commodity futures market, addressing the limited pathways and low convenience for foreign institutions in accessing this market [2]. Group 2: Future Outlook - The collaboration highlights the company's capabilities in cross-border derivatives and comprehensive financial services, with plans to deepen cooperation with Shenwan Hongyuan (International) Group [2]. - The FICC Division aims to enhance cross-border trading capabilities and product creation, attracting diverse participants such as sovereign funds, financial institutions, and private equity products to engage in the Chinese market [2].

Core Insights - The article emphasizes the importance of wealth management in the securities industry, highlighting the shift towards a "long money, long investment" policy framework to better meet the growing wealth management needs of the public [1] Group 1: Development of the Fund Industry - The public fund sector is increasingly dominated by index tools, with index fund scale growing to 12.3 times that of 2013 and 2.5 times that of 2021 by the end of 2024, while "fixed income+" and FOF scales have decreased by nearly 30% during the same period [2] - The number of ETFs has surged to nearly 1,200 with a total scale of 3.6 trillion yuan, reflecting a fivefold increase over five years, while actively managed mixed funds have only increased by 60% [2] Group 2: Cost Reduction in Fund Management - The regulatory push for fee reductions has led to a significant decrease in management fees, with the weighted fee for actively managed mixed funds dropping from 1.49% to 1.15% from 2013 to 2024, and stock index funds seeing their fees nearly halved [3] - This fee reduction is expected to foster the establishment of a buy-side advisory system, although it may disrupt existing institutional interests in the short term [3] Group 3: Challenges in Wealth Management - The wealth management industry faces challenges such as a focus on short-term gains over long-term client service, with many actively managed mixed funds experiencing a decline in scale shortly after their launch [4][5] - The market shows a tendency for crowded fund issuance, particularly during market trends, which does not support the development of a sustainable investment environment [6] Group 4: New Tool Demands in Wealth Management - The introduction of fund investment advisory services has led to a need for more precise tools to enhance client service capabilities, with a focus on personalized solutions for different client segments [7][8] - The company has developed over 30 customized fund advisory strategies in the past year and has significantly increased its client base, indicating a successful implementation of a tiered service approach [8] Group 5: Custom Funds and Buy-Side Advisory Transformation - The expansion of the middle-income group and the aging population are driving the demand for tailored wealth management solutions, which can facilitate the transition of securities companies towards a buy-side advisory model [10] - The development of ETFs and the encouragement of diverse fund types, including overseas QDII funds and commodity index funds, are seen as essential for enhancing asset allocation capabilities [11]

Group 1: Company Overview and Market Position - Guangxi Securities Company is the only comprehensive securities firm registered in Guangxi and the only listed financial institution in the region, actively participating in local economic development and capital market growth [3] - The company maintains the highest market share in securities brokerage in Guangxi, with 48 branches covering all 14 prefecture-level cities [4] - The company has established strong brand recognition and loyalty, accumulating a rich resource of institutional and retail clients [4] Group 2: Support from Government and Major Shareholder - The Guangxi government supports the company in becoming a key platform for capital market development, aligning with the "Belt and Road" initiative and other strategic projects [3] - Guangxi Investment Group, the company's actual controller, is a local Fortune 500 enterprise that provides strong support for business development and client maintenance [5] - The group encourages a market-oriented operational mechanism while participating in corporate governance and decision-making processes [5] Group 3: Future Financing Plans - The company received approval from the China Securities Regulatory Commission to issue corporate bonds totaling up to 10 billion yuan [6] - A successful issuance of 2 billion yuan in corporate bonds occurred in the first phase of 2025, with future issuance plans to be determined based on market conditions and business needs [7]

"投资者是市场之本，保护投资者合法权益是证券监管的首要任务。"中国证监会主席吴清在2025年开年 初调研投资者教育基地时强调。为夯实投资者保护工作基础，近年来，广东一直积极探索投教模式创 新，助力更好满足人民群众日益增长的财富管理需求。 为破解"自说自话"的投教视频宣传情况，助力机构投教工作更好地"走出去"，2024年11月，由广东证券 期货业协会、南方都市报社、湾财社主办的广东证券期货业首届微视频比赛在广州启动。活动启动后， 获得机构踊跃参与，共收到75个参赛微视频。 在"5・15全国投资者保护宣传日"来临之际，本次活动举办了专家评审，最终从众多投稿短视频中评选 出一、二、三等奖以及优秀作品奖等多个奖项，共19部作品获奖，以此肯定及鼓励各机构在投教工作中 所付出的努力。据悉，获奖作品还将作为行业标杆进行广泛展示与推广，形成行业内积极向上、共同进 步的良好氛围，为广东地区金融市场的稳定发展和投资者权益的有效保护奠定坚实基础。 19部获奖作品新鲜出炉 2024年11月，广东证券期货业首届微视频比赛正式启动。比赛启动以来，获得广东（不含深圳）证券、 期货等金融机构积极响应，踊跃参与，围绕服务实体经济、践行投资者保 ...

Core Viewpoint - The joint issuance of the "Opinions" by the central bank, financial regulatory authorities, and the Guangdong provincial government aims to enhance financial support for Nansha, promoting its role in the Guangdong-Hong Kong-Macao Greater Bay Area development through 30 key measures [1][4]. Financial Services for Innovation and Entrepreneurship - Support for enterprises aligned with Nansha's industrial development through bill financing and encouragement of "loan + external direct investment" models [4] - Promotion of high-end manufacturing industries and social capital investment, including mechanisms for accounts receivable confirmation and support for issuing technology innovation bonds [4] - Facilitation of youth innovation and entrepreneurship, allowing Hong Kong and Macao residents equal access to support policies and employment opportunities [4] Social and Livelihood Financial Services - Promotion of cross-border payment systems, credit financing, and the facilitation of international professionals' practices [4] Development of Specialized Financial Services - Encouragement for the Guangzhou Futures Exchange to explore electricity futures and support for green and sustainable bond issuance in Hong Kong and Macao [4] - Establishment of a digital financial research think tank and support for the application of generative AI models in finance [4] - Support for quality securities firms to obtain public fund qualifications and the development of cross-border wealth management pilot programs [4] Cross-Border Financial Innovation and Communication - Research on establishing an international commercial bank in the Greater Bay Area and support for Hong Kong and Macao investors to set up securities and fund companies [5] - Promotion of higher-level trade and investment renminbi settlement facilitation and support for fund companies in Nansha to participate in mutual recognition arrangements [5] Support Measures - Emphasis on increasing policy support, including housing and talent policies, to create favorable conditions for domestic and international professionals in Nansha [5]

Group 1 - The short-term bond ETFs have seen significant growth, with the short bond ETF reaching a record high of 39.162 billion yuan, and the city investment bond ETF also hitting a new high of nearly 17 billion yuan [1] - The current market discussion is focused on whether there is still room for interest rate declines in the second quarter, with optimistic institutions expecting further easing in the bond market [1][2] - The overall bond ETF scale managed by Hai Fu Tong Fund has surpassed 70 billion yuan, indicating strong investor interest in bond products [1] Group 2 - Short-term market sentiment is improving as external negative factors diminish, with expectations for a return to technology growth in the market during May and June [2] - The monetary market rates need to be lowered to alleviate the current low-interest spread in the financial system, which could lead to a downward trend in actual interest rates [2] - The bond market is expected to benefit from reduced supply pressure and ongoing expectations for policy easing, suggesting a favorable environment for bond investments in the second and third quarters [2][3] Group 3 - The market is shifting focus from external risks to domestic economic fundamentals, with expectations for strong export data and continued economic growth in the second quarter [3] - The positive outcomes from US-China trade negotiations may improve short-term risk sentiment, potentially leading to a rise in interest rates, although the effects of monetary easing have yet to fully materialize [3]