Core Points - The China Banking and Insurance Asset Management Association has been renamed from the China Insurance Asset Management Association, marking a significant step in the self-regulation of the asset management industry in China [1][2] - The rebranding allows for the full inclusion of bank wealth management companies, which is expected to enhance the collaborative development of different asset management institutions [1][2] Group 1 - The association is a national, industry-specific, non-profit organization formed voluntarily by the banking and insurance asset management sectors, under the guidance and supervision of the National Financial Regulatory Administration and the Ministry of Civil Affairs [1] - The total number of wealth management companies in China has reached 32, including 6 state-owned banks, 12 joint-stock banks, 8 city commercial banks, 1 rural commercial bank, and 5 joint venture wealth management companies [2] - As of the end of the third quarter of 2025, the total number of existing products in the market is 43,900, an increase of 10.01% year-on-year, with a total scale of 32.13 trillion yuan, up 9.42% year-on-year [2] Group 2 - The number of existing products from wealth management companies is 30,600, with a total scale of 29.28 trillion yuan, reflecting a year-on-year increase of 15.26%, accounting for 91.13% of the entire market [2] - The association's new leadership aims to enhance its functions of self-discipline, rights protection, coordination, and service, contributing to the high-quality development of the industry [2]

科普长视频、聚焦投资专业知识、密集的知识输出、资管机构出品……很难想象，集齐上述标签的投教科普视频栏目 《行行有说道》，单期内容会在抖音这个短视频平台上收获几万甚至几十万的播放，多期视频入选"抖音精选"。 不同于过去更为常见的基础知识普及等投教内容，《行行有说道》这档由中泰资管打造的视频栏目，聚焦的是投资本 身——单期视频10分钟以上，从一个行业或细分领域切入，通过拆解行业发展脉络与商业模式、梳理上下游产业链及 巨头的发展脉络，以生意的视角呈现行业图景。自去年8月推出以来，该系列栏目已经累计发布十几期视频，全网播 放量累计超200万。 此外，就在刚刚举行的2025年中国证券业资产管理君鼎奖评选中，该系列视频获评"2025年公益投教案例君鼎奖"。 基金公司以视频作为投教新赛道早已不是新闻，去年下半年，部分机构花式"卷"短剧的动作也曾引发行业内外的关注 和争议。但中泰资管选择了一条更契合自身定位的道路——回归专业内容，向深度化拓展，探索专业内容在视频平台 的新路径。 "投资是认知的变现，投教也是为了提升认知。以高质量发展为目标的基金行业，离不开认知不断提升的投资者，理 解产业逻辑和商业模式是能让大多数投资者赚到明 ...

Core Viewpoint - The video series "行行有说道" produced by 中泰资管 focuses on professional investment knowledge, aiming to enhance investors' understanding of various industries through in-depth analysis and industry insights [2][3]. Summary by Sections Video Content and Approach - "行行有说道" is distinct from traditional investment education content, as it emphasizes the investment itself, featuring videos longer than 10 minutes that dissect industry development and business models [2]. - Since its launch in August last year, the series has released over ten videos, accumulating over 2 million views across platforms [2]. - The series received the "2025公益投教案例君鼎奖" at the 2025 China Securities Asset Management Jun Ding Award, highlighting its impact in the investment education space [2]. Target Audience and Educational Goals - The initiative addresses the gap in accessible industry knowledge for ordinary investors, who often find professional reports tailored for institutional investors [3]. - The goal is to elevate investors' cognitive abilities and decision-making through industry-specific educational videos [3][4]. Challenges and Support - Creating industry-focused educational videos poses challenges, including the need for detailed content that varies significantly across different sectors [3]. - The research team at 中泰资管 plays a crucial role in content creation, ensuring that videos are tailored to industry characteristics [3]. Professional Content Recognition - The rise of short videos in 2024 has led many fund companies to explore this medium, but 中泰资管 aims to produce high-quality, professional content that stands the test of time [5]. - The series has gained unexpected recognition, with videos being featured in "抖音精选," leading to significant increases in viewership [5][6]. User Engagement and Feedback - Feedback from viewers indicates a strong interest in professional content, with many expressing appreciation for the depth and quality of the videos [8][10]. - The series has also received constructive suggestions from viewers, demonstrating a community engaged in the learning process [10]. Commitment to Quality - 中泰资管 prioritizes content quality over quantity, often revising scripts multiple times to ensure high standards [12]. - The company believes that providing valuable content is essential for retaining viewer attention and trust [12]. Future Directions - The company remains committed to enhancing investor cognition without the influence of sales perspectives, focusing on factual analysis and industry insights [13]. - Upcoming features from platforms like 抖音, such as AI tools for content consumption, align with 中泰资管's mission to facilitate knowledge acquisition for investors [13].

Core Points - The China Banking and Insurance Asset Management Association has been renamed to include bank wealth management subsidiaries, marking a significant step in enhancing self-regulation within the asset management industry [1][2] - The association aims to strengthen its role in self-discipline, market order maintenance, and member support, reflecting a commitment to high-quality industry development [1][2] Group 1 - The renaming of the association is seen as a major initiative to promote the collaborative development of two types of asset management institutions [1] - The association's leadership emphasized the importance of political awareness and responsibility in enhancing regulatory compliance and member services [1] - The fourth council of the association was elected, with Wang Yi becoming the president and Huatai Asset Management Co., Ltd. elected as the supervisor unit [2]

李云泽强调，银行保险资管机构要深入贯彻落实党的二十届四中全会精神，践行金融工作的政治性、人 民性，紧扣"十五五"时期的战略任务和重大举措，抓紧布局、科学谋划，深入做好金融"五篇大文章"。 要坚持人民至上，着力构建财富管理新格局，深化改革创新，不断激发行业发展"新动能"。要筑牢安全 防线，切实构筑稳健发展的"防火墙"，以行业高质量发展助力金融强国建设，为服务中国式现代化贡献 更大力量。 李云泽要求，协会要切实增强政治意识、大局意识、责任意识，持续加强规范管理，进一步发挥服务会 员、辅助监管作用。要全面加强党的建设，优化治理结构，强化自律管理，维护市场信誉，助力行业发 展行稳致远。 11月26日，金融监管总局局长李云泽出席中国银行保险资产管理业协会更名暨第四届会员代表大会时表 示，中国保险资产管理业协会更名为中国银行保险资产管理业协会，将银行理财公司纳入自律管理和服 务范围，是健全理财行业自律管理体系的重大举措，也是促进两类资管机构协同发展的重要支撑，标志 着我国银行保险资管行业自律管理进入了新阶段。 公开资料显示，原中国保险资产管理业协会成立于2014年，是经国务院同意、民政部批准、金融监管总 局直接管理的，保 ...

Core Viewpoint - The China Banking and Insurance Asset Management Association has been renamed and is now positioned to enhance self-regulation in the asset management industry, marking a new phase in the sector's development [2][3]. Group 1: Association's Renaming and Purpose - The association has officially changed its name from the China Insurance Asset Management Association to the China Banking and Insurance Asset Management Association, which now includes bank wealth management subsidiaries [2]. - This renaming is a significant step towards improving the self-regulatory framework of the asset management industry and promoting collaboration between different asset management institutions [2]. Group 2: Strategic Goals and Responsibilities - The association aims to implement the spirit of the 20th National Congress of the Communist Party of China, focusing on political and public interests while aligning with national strategic tasks [2]. - Key objectives include constructing a new wealth management framework, fostering innovation, and ensuring robust development to support the construction of a financial powerhouse [2]. Group 3: Governance and Operational Framework - The association will enhance its political awareness and responsibility, strengthen regulatory compliance, and improve member services [2][3]. - The fourth council meeting approved several reports and management guidelines, including the work reports of the third council and supervisory board, as well as membership and fee management regulations [3].

Core Points - The official WeChat account of the "China Insurance Asset Management Association" has been renamed to "China Banking and Insurance Asset Management Association," indicating the integration of banking and insurance asset management into a unified self-regulatory system [1] - This renaming signifies an upgrade in self-regulation within the banking and insurance asset management industry, enhancing the effectiveness of industry self-regulation and promoting healthy development through collaboration with regulatory mechanisms [1] Summary by Sections Association Overview - The China Insurance Asset Management Association was established in September 2014, approved by the State Council and the Ministry of Civil Affairs, and directly led by the National Financial Supervision and Administration [1] - The association currently has 561 member units covering all segments of China's financial market, with 30 bank wealth management subsidiaries among its members [1] Recent Developments - In April, the association announced the members of its second Public Market Investment Professional Committee, including representatives from nine bank wealth management subsidiaries [2] - The association's publication, originally titled "China Insurance Asset Management," will be renamed to "China Asset Management" starting November 2024, reflecting the evolving landscape of the asset management industry [2] Market Insights - According to the "China Banking Wealth Management Market Quarterly Report (Q3 2025)," there were 10,890 new wealth management products issued, raising a total of 120.15 trillion yuan [2] - As of the end of Q3 2025, there were 43,900 existing wealth management products with a total size of 32.13 trillion yuan, marking a year-on-year increase of 9.42% [2][3] Product Categories - As of Q3 2025, fixed-income products accounted for 97.14% of the total existing wealth management product size, with a scale of 31.21 trillion yuan, showing a slight increase from the previous year [3] - Mixed products and equity products represent a smaller portion of the market, with existing scales of 0.83 trillion yuan and 0.07 trillion yuan, respectively [3] Self-Regulatory Organizations - Besides the China Banking and Insurance Asset Management Association, other major self-regulatory organizations for bank wealth management companies include the Banking Wealth Management Registration and Custody Center and the Banking Association's Wealth Management Business Professional Committee [3]

Group 1 - The 30-year government bond futures main contract closed down 0.86% on November 26, with the 30-year bond futures (TL2603) closing at 114.290 yuan, down 0.990 yuan [1] - The ETF market showed mixed results, with the communication ETF (515880) up 5.61%, communication equipment ETF (159583) up 5.54%, and the entrepreneurial AI ETF (159242) up 5.29% [1] - The China Securities Convertible Bond Index fell 0.85% to 480.94 points, while individual convertible bonds like Yingte and Haomei saw increases of 3.06% and 2.83% respectively [1] Group 2 - The chief strategist of China Galaxy Securities, Yang Chao, indicated that the A-share market will benefit from upward liquidity, with current valuations being relatively reasonable compared to global equity markets [2] - UBS's head of China equities, Shi Bin, noted that the innovation sector, including pharmaceuticals and AI, has been a major driver of market performance this year, and is expected to continue its robust growth [2] - Morgan Stanley's chief equity strategist for China, Wang Ying, highlighted increasing discussions around the long-term sustainability of stocks, which is a focus not only in China but globally [2]

格隆汇11月26日丨宏基资本(02288.HK)公布截至2025年9月30日止六个月中期业绩，集团来自持续经营 业务下之业务分部的综合收益为5,100万港元(截至2024年9月30日止六个月则为7,300万港元)。该收益主 要来自持续出售集团投资组合中的物业重建项目套现以及集团的资产、投资及基金管理业务所产生的经 常性收入。于六个月回顾期间，集团录得毛亏2,700万港元(截至2024年9月30日止六个月期间：毛利900 万港元)，主要归因于一个物业重建项目的一次性撇减及公司物业组合套现，反映物业市场持续疲软、 物业估值下调以及当前市场气氛。 期内，集团来自持续经营业务及已终止经营业务录得亏损2,500万港元(截至2024年9月30日止六个月期 间：9,100万港元)，而公司拥有人应占亏损为4,600万港元(截至2024年9月30日止六个月期间：8,900万港 元)。亏损主要归因于上述毛亏及摊占联营公司所产生的亏损，尽管于中期期间已确认已终止经营业务 下出售事项之收益。 ...

Core Insights - UBS Asset Management held its annual flagship event, The Red Thread Global Investment Outlook, in Hong Kong, where the focus was on the transition from "quantity expansion" to "sustainable and innovation-driven development" as suggested by China's 14th Five-Year Plan [1] - The main theme of high-quality growth is expected to drive sector rotation and valuation shifts over the next twelve months [1] - Investor sentiment is improving, with global investors, including long-term funds and hedge funds, actively participating in cornerstone investments and secondary market trading of Chinese stocks [1] Investment Trends - Currently, foreign capital is primarily entering the Chinese market through ETFs rather than actively managed funds, indicating that the market is still in a "technical repair" phase [1] - For sustained capital inflow, investors need to see ongoing structural reforms and signs of sustainable growth [1]