Group 1 - The core viewpoint of the news highlights the active trading and growth potential of the Penghua Sci-Tech Bond ETF, which has reached a scale of 173.17 billion yuan as of September 19, 2023, with a trading volume of 63.49 billion yuan on the same day [1] - The market is currently influenced by two main factors: the potential for the central bank to restart bond purchases and issues related to redemption fees for public bond funds, leading to a defensive investment strategy [1] - The Penghua Sci-Tech Bond ETF tracks the Shanghai Stock Exchange AAA Sci-Tech Innovation Company Bond Index, which includes bonds with strong credit ratings, thus helping to control credit risk in the ETF investment portfolio [1] Group 2 - Compared to single bond buying strategies, the Sci-Tech Bond ETF offers advantages such as low fees, low trading costs, high transparency, and high liquidity, which help in diversifying investment risks and improving capital efficiency [2] - The market for Sci-Tech bonds is expected to expand significantly under favorable policies, with the Sci-Tech Bond ETF being the only indexed tool in the technology bond sector, enhancing its long-term investment value and market influence [2] - Penghua Fund has been actively developing a range of fixed-income products since the second half of 2018, aiming to become a domestic expert in fixed-income indices, with the total scale of bond ETFs exceeding 22 billion yuan [2]

Core Insights - The overall performance of Shenzhen state-owned enterprises' new media accounts has declined in August, with significant drops in both article output and reading volume compared to July [4][20] - The "Shenzhen State-owned Enterprises New Media Information Release Observation List" evaluates the performance of 54 accounts, including 31 state-owned enterprise accounts and 23 listed companies [3] Group 1: New Media Performance - In August, 21 out of 31 state-owned enterprise accounts reduced their article output, with notable decreases from Shenzhen Stock Exchange, Shenzhen Anju, and Shenzhen Innovation Investment Group [4][20] - Reading volume for 21 accounts also fell, with some experiencing declines of over 50%, while the Special Zone Construction Group saw a significant increase of 16,610 in reading volume [4][20] - The top three accounts by article output were Shenzhen Bus Group (71 articles), Shenzhen Energy (64 articles), and Shenzhen Metro (63 articles) [5][20] Group 2: Reading Volume and Engagement - The top three accounts by reading volume were Shenzhen Metro (361,000+), Guoxin Securities (135,000+), and Shenzhen Eastern Bus (133,000+) [6][7] - The lowest reading volumes were recorded by Special Zone Development Group (408) and Shenzhen Capital Group (165) [6][7] - The top three accounts by likes were Shenzhen Metro (4,079), Shenzhen Bus Group (2,881), and Shenzhen Gas (1,957) [8][9] Group 3: Listed Companies Performance - Among the 23 listed company accounts, 14 experienced declines in reading volume, indicating instability in content planning [13][20] - The top three accounts by article output were Deep Special Power (51 articles), Shenzhen Airlines (24 articles), and Yiyaton (21 articles) [14][20] - Reading volume leaders included Shenzhen Airlines (110,000+), CIMC (50,913), and China Ping An (43,212), although many accounts saw significant drops [15][20] Group 4: Recommendations for Improvement - The overall data indicates a need for optimization in content output and engagement strategies, particularly for lower-performing accounts [20] - Recommendations include focusing on data review, strategy adjustment, content quality improvement, and maintaining a consistent output rhythm to enhance account influence [20]

北京商报讯（记者 郝彦）9月22日，国务院新闻办公室举行"高质量完成'十四五'规划"系列主题新闻发 布会，介绍"十四五"时期金融业发展成就。 近年来，特别代表人诉讼首单康美药业案赔偿投资者约24.6亿元，紫晶存储案、泽达易盛案分别赔付投 资者10.9亿元和2.8亿元，一批标志性案例在各方共同努力下得以落地，提升了投资者合法权益保护的质 效。 会上，中国证监会主席吴清表示，扎牢织密了投资者保护"安全网"，先后完善了股份减持、量化交易、 融券等监管规则，推动出台了先行赔付、当事人承诺、欺诈发行责令回购等一系列制度，明确了申报即 担责、中介机构执业质量评价等硬性监管要求。 ...

会上，中国证监会主席吴清表示，"十四五"期间，新增核准13家外资控股证券基金期货机构来华展业兴 业，外资持有A股市值3.4万亿元，269家企业境外上市，中国资本市场的"朋友圈"越来越大。 北京商报讯(记者郝彦)9月22日，国务院新闻办公室举行"高质量完成'十四五'规划"系列主题新闻发布 会，介绍"十四五"时期金融业发展成就。 ...

国务院新闻办公室于今日下午3时，举行"高质量完成'十四五'规划"系列主题新闻发布会，中国人民银行行长潘功胜，金融监管总局局长李云泽，中国证 监会主席吴清，中国人民银行副行长、国家外汇局局长朱鹤新介绍"十四五"时期金融业发展成就，并答记者问。 发布会上，证券时报记者提问： "十四五"期间，我国资本市场遭遇了一系列超预期的风险考验，请您介绍下证监会在加强资本市场监管、防范化解风险方面主要做 了哪些工作？ 吴清答证券时报问：过去五年外部输入性风险挑战风高浪急 资本市场作为各类风险交汇地和敏感带首当其冲 吴清在国新办新闻发布会上表示，过去五年资本市场面临的环境发生了复杂深刻变化，外部输入性风险挑战风高浪急，国内部分领域风险"水落石出"，资本 市场作为各类风险交汇地和敏感带首当其冲。 吴清答证券时报问：共同打好"组合拳"应对外部冲击 投资者信心和市场预期明显改善 吴清在国新办新闻发布会上表示，坚决维护市场平稳运行。落实"四早"要求，加强全方位监测预警，健全跨市场跨领域跨境风险防控机制，加强逆周期调 节，统筹好一二级市场协调发展，同时强化与有关方面的协调联动，支持汇金公司、社保、保险、证券基金和上市公司等发挥内在稳定作用 ...

Group 1 - The core viewpoint emphasizes the importance of strengthening regulatory defenses and maintaining market stability during the "14th Five-Year Plan" period, as highlighted by the Chairman of the China Securities Regulatory Commission, Wu Qing [1] - The regulatory framework focuses on early warning systems, cross-market risk prevention, and supporting various financial institutions to enhance market stability and investor confidence [1] - The bond default rate in the exchange market remains low at around 1%, indicating effective risk management in key areas [1] Group 2 - Regulatory enforcement has been significantly enhanced, particularly against financial fraud, with record fines imposed on companies like Evergrande Real Estate, totaling 4.175 billion yuan, and its auditing firm, 325 million yuan [2] - Over the past five years, more than 700 cases and leads have been referred to law enforcement, resulting in serious criminal accountability for several responsible parties [2] - Investor protection measures have been improved, including regulations on share reductions and quantitative trading, with notable compensation cases such as the Kangmei Pharmaceutical case, which compensated investors approximately 2.46 billion yuan [2]

9月22日，在介绍"十四五"时期金融业发展成就时，中国证监会主席吴清在国新办新闻发布会上表示， 股票发行注册制由试点到全面推开，逐步走深走实。聚焦服务新质生产力发展，证监会接续推出"科创 十六条""科创板八条""并购六条"等举措，在发行上市、并购重组、畅通募投管退循环等方面作出一系 列优化完善。6月，在科创板推出设置科创成长层等"1+6"改革举措，目前已有3家未盈利科技企业在重 启科创板第五套标准后完成注册，创业板第三套标准也迎来首单受理。（人民财讯） ...

Core Viewpoint - The press conference highlighted the achievements of China's financial industry during the "14th Five-Year Plan" period, emphasizing the significant reforms and developments in the capital market, which have laid a solid foundation for future growth [1]. Group 1: Legal and Regulatory Framework - The establishment of a comprehensive legal system for the capital market has been achieved, with the implementation of the new Securities Law and the introduction of over 60 supporting regulations following the "National Nine Articles" [2]. - The regulatory framework has been significantly restructured, enhancing the stability and development of the capital market [2]. Group 2: Market Structure and Functionality - The multi-tiered market system has been further improved, with successful reforms in the Sci-Tech Innovation Board and the establishment of the Beijing Stock Exchange, contributing to a more robust equity market [2]. - The total market capitalization of A-shares has surpassed 100 trillion yuan, indicating a rich variety of products in the bond market and the rapid development of innovative financial products [2]. Group 3: Investment and Financing - Over the past five years, the total financing through stock and bond markets reached 57.5 trillion yuan, with a steady increase in the proportion of direct financing, up by 2.8 percentage points compared to the end of the "13th Five-Year Plan" [2]. Group 4: Market Stability and Risk Management - A collaborative mechanism for market stability has been gradually established, effectively preventing significant market fluctuations and systemic risks during unexpected challenges [3]. - The annualized volatility of the Shanghai Composite Index has decreased to 15.9% during the "14th Five-Year Plan," down by 2.8 percentage points from the previous period [3]. Group 5: Market Integrity and Fairness - The regulatory authority has intensified efforts to combat illegal activities, with 2,214 administrative penalties issued for financial fraud and market manipulation, resulting in fines totaling 41.4 billion yuan, marking increases of 58% and 30% respectively compared to the "13th Five-Year Plan" [4]. - The overall market environment has improved, with enhanced transparency and a more purified market ecosystem [4].

Group 1 - The core viewpoint emphasizes the steady reduction of risks in key areas of the financial industry during the "14th Five-Year Plan" period, with a focus on controlling new risks and stabilizing existing ones [1] - The bond default rate in the exchange market remains low at around 1%, indicating effective risk management [1] - Approximately 7,000 zombie institutions have been cleared out as part of the private equity fund risk rectification efforts, and the growth of "pseudo-private equity" risks has been effectively curbed [1] Group 2 - The closure of gold exchanges and "pseudo-gold exchanges" has shown significant results, with all 27 identified exchanges having their qualifications revoked [1] - Over a hundred identified "pseudo-gold exchanges" have been completely cleaned up, further enhancing the integrity of the financial market [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) is enhancing the effectiveness and deterrence of regulatory enforcement, focusing on financial fraud and other illegal activities that harm investors [1] Regulatory Focus - The CSRC aims to tackle financial fraud by not only pursuing the main perpetrators but also punishing accomplices, thereby creating a comprehensive prevention and punishment system [1] Systematic Approach - The initiative is designed to dismantle the "ecological circle" of fraud, indicating a systemic approach to combatting financial misconduct in the industry [1]