Group 1 - The core viewpoint emphasizes the need to provide more financial resources for traditional industries' optimization and the cultivation of emerging and future industries, focusing on intelligent, green, and integrated directions [1] - During the 2025 Financial Street Forum Annual Meeting, the focus will be on enhancing economic and financial adaptability during the "14th Five-Year Plan" period [1] - The new financial service model will promote the synergy of direct and indirect financing, balance investment in goods and people, align financing terms with industry development, and link domestic and international markets [1] Group 2 - The financial regulatory department aims to strengthen risk prevention measures and consolidate risk disposal achievements [2] - There will be a focus on the orderly merger and restructuring of small and medium financial institutions, as well as enhancing the quality of financial services [2] - A new financing system will be developed to align with the new model of real estate development, helping to mitigate local government debt risks [2]

Core Viewpoint - The Financial Regulatory Administration emphasizes the need to balance financial development and security to ensure a new development pattern, addressing the unprecedented challenges facing global economic and financial stability [2]. Group 1: Financial Risk Management - The Financial Regulatory Administration will prioritize risk prevention, aiming to maintain a bottom line against systemic financial risks [2]. - There will be a focus on consolidating risk disposal achievements and promoting the merger and restructuring of small and medium-sized financial institutions in a steady and orderly manner [2]. - Efforts will be made to enhance the disposal of non-performing assets and capital replenishment, ensuring a robust financial system [2]. Group 2: Regulatory Efficiency and Framework - The administration plans to accelerate the reform of financial laws and regulations, establishing a clear and effective tiered regulatory framework [2]. - There will be an emphasis on leveraging technology to optimize resource allocation and support the five major regulatory areas [2]. - Strengthening collaboration between central and local authorities, as well as inter-departmental coordination, is essential to enhance regulatory effectiveness [2]. Group 3: Global Financial Cooperation - The administration aims to strengthen multilateral and bilateral coordination to improve cross-border risk monitoring, early warning, and response mechanisms [2]. - Enhancing international regulatory cooperation and crisis management efficiency is crucial for addressing major risks and challenges [2]. - The ultimate goal is to work collectively to maintain global financial stability [2].

Core Viewpoint - The head of the National Financial Supervision Administration, Li Yunzhe, emphasized the need to enhance the adaptability of economic and financial systems during the 2025 Financial Street Forum, advocating for a new financial service model that balances various financing methods and aligns with industry development [1] Group 1 - The new financial service model aims to promote synergy between direct and indirect financing [1] - The model emphasizes equal importance on "investment in goods" and "investment in people" [1] - It seeks to match financing terms with industrial development [1] Group 2 - The initiative also focuses on linking domestic markets with international markets [1]

金融监管总局还将进一步深化金融供给侧结构性改革，促进机构布局更加合理，发展质量和韧性持续增 强，国际影响力明显提升，推动金融制度型开放向更宽领域、更深层次迈进，全面落实准入前国民待遇 加负面清单管理制度。不断提高中资机构跨国经营管理能力，有力保障高质量共建"一带一路"。积极参 与国际金融治理改革，为完善国际金融监管规则和行业标准贡献更多中国智慧。 金融监管总局还将更好统筹金融发展和安全，以新安全格局保障新发展格局，坚定履行防风险首位主 责，积极识变应变求变，牢牢守住不发生系统性金融风险底线。 李云泽表示，下一步，金融监管总局将一如既往推动更多金融政策在京先行先试，引导更多优质金融资 源汇聚首都，助力首都经济社会高质量发展再上新台阶。 10月27日，金融监管总局局长李云泽在2025金融街论坛年会上表示，金融监管总局将着力提升经济金融 适配性，更好促进经济社会持续健康发展，同时坚定不移深化改革扩大开放，不断增强金融业发展动力 和活力。 着力提升经济金融适配性方面，金融监管总局将推动构建直接融资与间接融资协同、投资于物与投资于 人并重、融资期限与产业发展匹配、国内市场与国际市场联动的金融服务新模式，强化对重大战略、 ...

【导读】 国家金融监督管理总局局长 李云泽：提升经济金融适配性，更好促进经济社会持续健 康发展 中国基金报记者 晨曦 10 月 27 日，国家金融监督管理总局局长李云泽出席 2025 金融街论坛年会开幕式，并发表 演讲。李云泽的演讲主题为 " 强化金融支撑 守牢风险底线 全力服务 ' 十五五 ' 经济社会高 质量发展 " 。 来看此次演讲的重点内容： 着力提升经济金融适配性 更好促进经济社会持续健康发展 李云泽表示，金融监管总局将推动构建直接融资与间接融资协同、投资于物与投资于人并 重、融资期限与产业发展匹配、国内市场与国际市场联动的金融服务新模式，强化对重大战 略、重点领域和薄弱环节的支持，助力经济实现质的有效提升和量的合理增长。 高效服务现代化产业体系建设和新质生产力发展。聚焦智能化、绿色化、融合化方向，为传 统产业优化提升、新兴产业和未来产业培育壮大提供更多金融资源。锚定高水平科技自立自 强，完善长期资本投早、投小、投长期、投硬科技的支持政策，强化全周期综合金融保障， 推动科技创新和产业创新深度融合。 有力支持构建新发展格局。围绕扩大内需这个战略基点，强化重大项目资金供给，助推消费 扩容升级。优化贸易融 ...

Group 1 - The core message emphasizes enhancing the adaptability of the financial system to better support sustainable economic and social development [2] - The financial regulatory authority aims to create a new financial service model that balances direct and indirect financing, investment in goods and people, and aligns financing terms with industrial development [2] - There is a focus on supporting the construction of a modern industrial system and the development of new productive forces, particularly in smart, green, and integrated industries [2] Group 2 - The regulatory body will deepen structural reforms in financial supply, improve the quality and resilience of financial development, and enhance international influence [3] - It aims to promote high-quality development in the financial sector by correcting disorderly competition and maintaining a healthy financial order [3] - The authority plans to expand financial openness and improve the management capabilities of Chinese institutions in international operations [3] Group 3 - The financial regulatory authority is committed to risk prevention and maintaining systemic financial stability amid global economic challenges [4] - It will strengthen risk control measures, including the orderly consolidation of small financial institutions and the management of non-performing assets [4] - A new financing system will be developed to align with the evolving real estate market, addressing local government debt risks [4] Group 4 - The authority will enhance regulatory efficiency by reforming financial laws and regulations, establishing a precise and effective tiered supervision framework [5] - There will be a focus on international cooperation to strengthen the global financial safety net and improve crisis management efficiency [5] - The financial regulatory body aims to lead more financial policies in Beijing, attracting quality financial resources to support high-quality economic development in the capital [5]

Core Viewpoint - The Director of the Financial Regulatory Bureau, Li Yunze, emphasized the need to optimize cross-border services such as trade financing and export credit insurance, aiming to accelerate the integration of domestic and international trade and enhance the smooth flow of the domestic and international dual circulation [1] Group 1 - The focus is on optimizing trade financing and export credit insurance to support cross-border services [1] - There is a strategic push to promote the integration of domestic and international trade [1] - The initiative aims to strengthen the domestic and international dual circulation system [1]

四、切实开展用途核查。资金监管行应按照穿透原则管理募集资金，对募集资金的每一流经账户进行跟 踪穿透核查，直至募集资金用于约定用途，获取募集资金是否按照披露用途使用的必要凭证，并妥善保 存核查、验证材料等工作底稿。 五、配合辅导及监测排查等工作。资金监管行应配合存续期管理机构开展对发行人的募集资金相关辅导 及监测排查等工作，同时，也应配合交易商协会不定期开展的募集资金存放、使用、资金监管账户变更 等有关事项的排查和检查。 六、若发现发行人募集资金管理和使用违反自律规则要求，或存续期管理机构未履行职责的情形，资金 监管行可向交易商协会报告。 一、完善募集资金监管机制。资金监管行应根据债务融资工具的特点完善募集资金监管相关制度机制， 建立健全内部审核机制和操作流程，加强对交易商协会关于募集资金使用、管理及账户设立等自律规则 的学习，确保账户管理、划款审核、用途核查、底稿留存等相关环节的合规运行。资金监管职责与存续 期管理职责由不同部门或业务条线承担的，资金监管行应建立畅通的内部沟通渠道，确保严格落实募集 资金管理相关工作要求。 二、切实履行资金划转的审核职责。发行人拟将募集资金划出募集资金监管账户或专项账户的，资金 ...

10月27日，在2025金融街论坛年会上，中国人民银行行长潘功胜表示，近年来，市场机构发行的虚拟 货币特别是稳定币不断涌现，但整体还处在发展早期。国际金融组织和中央银行等金融管理部门对稳定 币的发展普遍持审慎态度。 记者｜杜川 编辑｜瑜见 10天前，在华盛顿召开的IMF/世界银行年会上，稳定币及其可能产生的金融风险成为各国财长、央行 行长讨论最多的话题之一，比较普遍的观点主要集中在，稳定币作为一种金融活动，现阶段无法有效满 足客户身份识别、反洗钱等方面的基本要求，放大了全球金融监管的漏洞，如洗钱、违规跨境转移资 金、恐怖融资等，市场炒作投机的氛围浓厚，增加了全球金融系统的脆弱性，并对一些欠发达经济体的 货币主权产生冲击。 2017年以来，人民银行会同相关部门先后发布了多项防范和处置境内虚拟货币交易炒作风险的政策文 件，目前这些政策文件仍然有效。下一步，人民银行将会同执法部门继续打击境内虚拟货币的经营和炒 作，维护经济金融秩序，同时密切跟踪、动态评估境外稳定币的发展。 ...

10月27日，金融监管总局局长李云泽在2025金融街论坛年会上表示，金融监管总局将坚持同责共担、同 题共答、同向发力，深化央地协同和部门联动，切实增强监管能力。携手织密全球金融安全网，加强多 边和双边协调，健全跨境风险监测预警和响应机制，提升国际监管合作和危机管理效率，共同面对重大 风险和挑战，全力维护全球金融稳定。 ...