养老理财产品试点实现从局部到全国的跨越式扩容，10月30日，金融监管总局官网发布《关于促进养老理财业务持续健康发展的通知》（以下简称《通 知》），继2021年"四地四家机构"试点启动后，历经多次扩围，此次政策明确将养老理财产品试点地区扩展至全国，与个人养老金制度实施范围全面接轨， 试点期限设定为三年。本次扩容不仅打破地域限制，更在机构准入、规模上限、产品设计等方面全面升级，鼓励试点理财公司发行10年期以上，或者最短持 有期5年以上等长期限养老理财产品。分析人士指出，未来三年试点期既为产品创新留出空间，也为政策优化提供窗口，将推动形成更加成熟、规范的养老 理财市场格局。 试点地区扩大至全国 为进一步提升覆盖面，本次《通知》中最大的亮点便是全国试点正式落地，具体来看，养老理财产品试点地区扩大至全国，与个人养老金制度实施范围一 致，试点期限延长至三年。 在完善养老理财产品和服务方面，本次《通知》也在产品形态、收费模式、产品流动性方面进行了完善。鼓励试点理财公司发行10年期以上，或者最短持有 期5年以上等长期限养老理财产品。支持试点机构依法在养老理财产品购买、赎回、分红等方面进行灵活设计，更好匹配投资者个性化养老需求 ...

Core Viewpoint - The National Financial Supervision Administration has announced the expansion of pilot areas for pension financial products to nationwide, aiming to promote the sustainable and healthy development of pension finance [1][2]. Group 1: Expansion of Pilot Areas - The pilot areas for pension financial products will be expanded to the entire country, with a trial period of three years [1]. - Eligible institutions for the pilot must have been in operation for at least three years and meet prudent management conditions [1]. - The pilot quota will be increased to five times the net capital of each pilot institution after deducting risk capital from the previous year's end balance, with adjustments based on prudent regulatory principles [1]. Group 2: Product Design and Services - The notification emphasizes the combination of investing in physical assets and human capital, supporting long-term quality assets that match pension characteristics [2]. - Financial companies are encouraged to enhance the design of pension financial products and diversify service offerings, including pension financial accounts and advisory services [2]. - The aim is to balance economic benefits with social benefits while considering the risk-return characteristics of the invested assets and investors' risk preferences [2]. Group 3: Risk Management and Compliance - Financial companies are required to strengthen their risk prevention responsibilities, improve product information disclosure, and enhance investor experience [2]. - A prudent investment strategy must be maintained, and a risk resolution mechanism should be established to ensure stable product operation [2]. - Information disclosure and data exchange for pension financial products should be conducted through the banking industry’s financial registration and custody center [2]. Group 4: Future Guidance - The National Financial Supervision Administration will enhance supervision and guidance to ensure the implementation of the notification, aiming to meet diverse pension needs and support the high-quality development of the silver economy [2].

Core Insights - The report emphasizes the critical role of capital markets in the pension system, which is essential for promoting long-term investment, serving the real economy, and enhancing residents' financial well-being [1][2] Group 1: Pension System Analysis - The white paper analyzes the trend of population aging in China, the structure of the pension system, and the current supply of pension financial products, providing new research perspectives and action recommendations for sustainable development [1] - Based on a survey covering 33 provinces and 15,000 samples, the report delves into residents' awareness of pension planning, savings and investment behaviors, and product preferences [1] Group 2: Strategic Importance of Pension Finance - The construction of the pension system is deemed crucial for addressing population aging and promoting long-term economic stability [2] - The company aims to deepen local cooperation by introducing global mature asset allocation concepts, pension investment strategies, and risk management frameworks into the Chinese market [2] Group 3: Long-term Investment Focus - The company positions pension finance as not only a financial endeavor but also a long-term social project, emphasizing the importance of long-term investment capabilities and sustainable pension financial services [2] - The company plans to enhance its pension investment research system and develop diversified investment solutions to help Chinese investors achieve long-term wealth accumulation and a stable retirement life [2]

Core Viewpoint - The Financial Regulatory Bureau has issued a notice to promote the sustainable and healthy development of pension financial products, emphasizing the expansion of pilot programs and the enhancement of product design and risk management [1][2]. Summary by Relevant Sections Expansion of Pilot Programs - The pilot areas for pension financial products will be expanded nationwide with a trial period of three years [2]. - Financial companies participating in the pilot must meet specific regulatory requirements, including being operational for at least three years and demonstrating strong long-term investment and risk management capabilities [2]. Product Design and Features - Companies are encouraged to issue long-term pension financial products with maturities of over 10 years or minimum holding periods of over 5 years [3]. - The notice supports flexible design in purchasing, redeeming, and dividend distribution of pension products to better match individual investor needs [3]. Liquidity and Risk Management - The establishment of mechanisms for the transfer and pledge of pension financial products is encouraged to meet liquidity needs in cases of major illness [4]. - Companies must ensure that the transfer and pledge services operate smoothly while maintaining investor rights [4]. Diverse Financial Services - Companies are supported in opening pension financial accounts for investors to track their holdings and provide advisory services [6]. - The notice emphasizes the importance of long-term investment philosophies and the establishment of a long-term assessment mechanism for investment personnel [6]. Support for the Pension Industry - Financial companies are encouraged to invest in high-quality long-term assets that align with pension characteristics and to participate in major national projects [7]. - Collaboration with other licensed asset management institutions is promoted to enhance service delivery to the pension industry [7]. Sales and Disclosure Standards - Strict standards for the sales of pension financial products are mandated, ensuring that performance benchmarks and risk-return profiles are thoroughly evaluated [8]. - The notice calls for optimization of product valuation rules to protect investor rights while ensuring compliance with accounting standards [8].

在试点扩围的基础上，本次《通知》还要求机构不断完善养老理财产品设计、探索提供多样化养老金融 服务。具体来看，《通知》要求丰富养老理财产品形态，鼓励试点理财公司发行10年期以上，或者最短 持有期5年以上等长期限养老理财产品。支持试点机构依法在养老理财产品购买、赎回、分红等方面进 行灵活设计，更好匹配投资者个性化养老需求。 同时，支持试点理财公司为每位投资者开立养老理财账户，记载投资者持有养老理财产品份额及其变动 情况，协助投资者做好养老资金储备和规划。支持试点理财公司按照法律法规和合同约定为投资者提供 养老理财顾问咨询服务，但应履行投资者适当性管理义务，并做好利益冲突防控工作。支持理财公司投 资与养老特征相匹配的长期优质资产，加大对健康产业、养老产业和银发经济的支持力度。 （原标题：养老理财业务试点扩至全国 鼓励机构发行10年期以上产品） 10月30日，金融监管总局发布了《关于促进养老理财业务持续健康发展的通知》，明确稳养老理财产品 试点地区扩至全国，试点期限为三年。试点机构扩大至符合开业满三年、经营管理审慎等条件的理财公 司。试点额度提高至各试点机构上年末净资本扣除风险资本后余额的五倍，金融监管总局可以根据审 ...

下一步，金融监管总局将加强督促指导，抓好《通知》贯彻落实工作，推动理财公司做好养老金融大文章，满足人民群众 多样化养老需求，助力银发经济高质量发展，确保党中央国务院相关决策部署落到实处。 详情点击如下链接：国家金融监督管理总局办公厅关于促进养老理财业务持续健康发展的通知 《通知》提出，稳步扩大养老理财产品试点。自《通知》印发之日起，养老理财产品试点地区扩大至全国，试点期限三 年。试点机构扩大至符合开业满三年、经营管理审慎等条件的理财公司。试点额度提高至各试点机构上年末净资本扣除风险资 本后余额的五倍，金融监管总局可以根据审慎监管原则进行调整。 《通知》明确，坚持投资于物和投资于人紧密结合。支持理财公司投资与养老特征相匹配的长期优质资产，加大对健康产 业、养老产业和银发经济的支持力度。支持理财公司完善养老理财产品设计，丰富产品形态，为投资者提供养老理财账户、养 老理财顾问咨询、信息查询等多样化养老金融服务。支持理财公司在风险可控前提下，综合考虑养老理财产品所投资资产的风 险收益特征与投资者的风险偏好，实现经济效益与社会效益相统一。 《通知》强调，压实理财公司风险防控主体责任。在产品端，加强产品信息披露和风险提示 ...

新华社北京10月30日电（记者张千千、李延霞）金融监管总局10月30日对外发布关于促进养老理财 业务持续健康发展的通知，明确将稳步扩大养老理财产品试点，自通知印发之日起，养老理财产品试点 地区扩大至全国，试点期限三年。 通知指出，积极支持养老产业发展。支持理财公司投资与养老特征相匹配的长期优质资产，通过适 当方式参与投资国家重大工程和重大项目建设，加大对健康产业、养老产业和银发经济的支持力度。支 持理财公司在风险可控前提下，综合考虑养老理财产品所投资资产的风险收益特征与投资者的风险偏 好，实现经济效益与社会效益相统一。支持理财公司在坚守职能定位、依法合规的前提下，以债券、股 票、非标准化债权类资产和衍生品等多种方式投资养老领域资产。 此外，通知提出健全长期考核机制。理财公司应当坚持长期投资、价值投资理念，建立健全长期考 核机制，将投资者长期投资收益等纳入投资人员和销售人员考核评价和薪酬体系，不得单一使用当期收 益、短期收益或规模排名等评价标准。 【纠错】 【责任编辑:焦鹏】 通知提出，不断完善养老理财产品设计，鼓励试点理财公司发行10年期以上，或者最短持有期5年 以上等长期限养老理财产品。支持试点理财公司依法 ...

文/卢梦雪 自2022年3月1日起，养老理财产品试点地区扩大至北京、沈阳、长春、上海、武汉、广州、重庆、成 都、青岛、深圳十地。养老理财产品试点机构扩大至工银理财、建信理财、交银理财、中银理财、农银 理财、中邮理财、光大理财、招银理财、兴银理财和信银理财十家理财公司。 10月30日，国家金融监督管理总局办公厅发布关于促进养老理财业务持续健康发展的通知（下称"通 知"）。通知提出，稳步扩大养老理财产品试点，其中，自通知印发之日起，养老理财产品试点地区扩 大至全国，试点期限三年。 养老理财试点工作自2021年9月开展，初期，银保监会选择"四地四家机构"进行试点，即工银理财在武 汉和成都、建信理财和招银理财在深圳、光大理财在青岛开展养老理财产品试点。试点期限一年。试点 阶段，单家试点机构养老理财产品募集资金总规模限制在100亿元人民币以内。 编辑：冯樱子 在试点机构和额度方面，通知要求，理财公司参与试点应当符合开业满三年、经营管理审慎、具备较强 长期投资能力和风险管理能力等审慎监管要求。单家理财公司养老理财产品募集资金总规模上限提高至 该机构上年末净资本扣除风险资本后余额的五倍，金融监管总局可以根据审慎监管原则进行 ...

Core Viewpoint - The report highlights the performance of equity public financial products managed by various financial companies, showcasing significant growth rates and identifying key products that have outperformed the market in the past year [5][6]. Market Performance - Since October 9, 2025, A-share indices have shown a fluctuating pattern, with the Shanghai Composite Index hovering around 3900 points, while the Shenzhen Component and ChiNext indices experienced slight corrections [5]. - Over the past year, the ChiNext index has led with a nearly 39% increase, followed by the Shenzhen Component with over 23% and the Shanghai Composite with over 18% [5]. - Key sectors such as telecommunications, comprehensive, non-ferrous metals, electronics, and machinery have all seen increases exceeding 40% [5]. Product Performance - As of October 23, 2025, the average net value growth rate for equity public financial products is 23.69%, with 35 sample products recording positive returns [6]. - Among these, 18 products achieved net value growth rates exceeding 20%, while four products, including ICBC's and CMB's offerings, recorded single-digit growth rates [6]. - The ranking includes five financial companies, with Huaxia Wealth featuring six products, Everbright Wealth with three, and Xinyin Wealth with one [6]. - The top-performing product is Everbright Wealth's "Sunshine Red New Energy Theme A," which boasts a net value growth rate exceeding 76% over the past year [6][7]. - Huaxia Wealth's "Tian Gong Ri Kai Financial Product 4" and "Tian Gong Ri Kai Financial Product 9" also performed well, with growth rates of 42.97% and 35.55%, respectively [6][7]. Risk and Return Analysis - The maximum drawdown for the products in the ranking exceeds 10%, with Huaxia Wealth's "Tian Gong Ri Kai Financial Product 5" experiencing the highest drawdown of over 20% [8]. - Everbright Wealth's "Sunshine Red ESG Industry Selection" has the smallest maximum drawdown at 10.8% [8].

北京商报讯(记者孟凡霞周义力)10月30日，重庆金融监管局发布《关于谭迪渝农商理财有限责任公司副 总裁任职资格的批复》，核准谭迪担任渝农商理财有限责任公司副总裁的任职资格。 ...