Core Viewpoint - The launch of the FISP platform marks a significant advancement in the public fund industry, addressing long-standing issues such as high operational costs and low capital efficiency, thereby enhancing the direct sales service for institutional investors [1][2]. Group 1: FISP Platform Overview - The FISP platform is an industry service platform authorized by the China Securities Regulatory Commission and operated by China Securities Depository and Clearing Corporation, aimed at improving the efficiency of fund direct sales [1][2]. - It provides a centralized, standardized, and automated "one-stop" data information exchange service for institutional investors, creating a standardized "highway" for direct sales in the public fund industry [1][2]. Group 2: Efficiency and Cost Reduction - The FISP platform enhances industry efficiency through hardware and software improvements, including shared infrastructure and unified data standards, which reduce redundancy and lower human and technical costs [2]. - Direct sales via the FISP platform may offer fee advantages compared to indirect sales, potentially lowering investment costs for investors [2]. Group 3: Service Empowerment and Security - The platform significantly shortens transaction cycles and improves capital utilization efficiency, while digitalization enhances transaction processing efficiency [2]. - FISP also strengthens financial data security and risk prevention through a comprehensive governance system, which helps build investor confidence and purifies the market environment [2]. Group 4: Future Outlook - The full potential of the FISP platform will require collaborative efforts across the industry, emphasizing a shift from scale to investor returns in fund management practices [3]. - The ongoing effectiveness of this "new infrastructure" is expected to support the stable development of the public fund industry and enhance its role in serving the real economy and managing residents' wealth [3].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has approved the launch of the Fund Industry Service Platform (FISP) to enhance the quality of services for institutional investors in the public fund sector [1] Group 1: FISP Platform Overview - The FISP platform is an industry service platform constructed and operated by China Securities Depository and Clearing Corporation Limited, authorized by the CSRC [1] - Fund managers and custodians are required to connect to the FISP platform to conduct direct sales of funds [1] Group 2: Benefits of FISP Platform - The platform aims to provide centralized, standardized, and automated "one-stop" data information exchange services for institutional investors, addressing high operational costs, low efficiency, and significant risks associated with traditional direct sales in the public fund industry [1] - The initiative is expected to improve the service level of direct sales in the industry and better support the entry of various medium- to long-term funds into the market [1] Group 3: Future Developments - The CSRC will supervise the ongoing development and operation of the FISP platform by China Securities Depository and Clearing Corporation Limited, focusing on optimizing platform functions and enhancing service quality [1] - The goal is to provide more standardized, efficient, convenient, and high-quality services to institutional investors [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has launched the Institutional Investor Direct Sales Service Platform (FISP platform) to enhance the quality of public fund services and facilitate institutional investors' access to public funds [1] Group 1: FISP Platform Overview - The FISP platform is authorized by the CSRC and constructed by China Securities Depository and Clearing Corporation Limited [1] - Fund managers and custodians are required to connect to the FISP platform to conduct direct sales of funds [1] - The platform aims to provide a centralized, standardized, and automated "one-stop" data information exchange service for institutional investors [1] Group 2: Benefits and Objectives - The FISP platform addresses high operational costs, low efficiency, and significant risks associated with traditional direct sales in the public fund industry [1] - It is designed to improve the service level of direct sales in the industry and better support medium to long-term capital entering the market [1] - The CSRC will supervise the ongoing development and optimization of the FISP platform to enhance service quality for institutional investors [1]