黄奇帆认为，建立可持续的企业资本金补充机制，是深化国民经济体制改革的关键环节。"推动中国资本市场改革，既要发展好上市公司、 证券公司，又要发展好所有工商企业的股权资本的补充机制、形成机制。" 针对如何扩充企业股本，黄奇帆指出，现有私募、公募等股权投资基金规模虽已超30万亿元，但本质上仍是在整个中国工商企业的股权资本 里进行内部腾挪，企业负债率总体没变。因此，必须从现有约200万亿元的工商企业股本之外，寻找并引入新的长期资本来源，实质性增加 股本总量，才能系统性地降低企业负债率。 为此，黄奇帆系统阐述了四类可利用的"沉睡"资本，分别为商业银行资本金、社会保障基金、商业保险资金、外汇储备。上述四方面若能有 效协同，可汇集超过10万亿元规模的"引导基金"。凭借其杠杆效应，有望带动社会资本形成总量达四五十万亿元的股权投资基金体系。 北京商报讯（记者 岳品瑜 董晗萱）1月10日，在第三十届中国资本市场论坛上，中国国家创新与发展战略研究会学术委员会常务副主席、重 庆市原市长黄奇帆围绕"中国企业资本金的形成机制改革"发表主旨演讲。 黄奇帆强调，健康的资本市场应如一辆双轮驱动的马车，一个轮子是股票市场，另一个则是全社会工商企 ...

Group 1 - The core viewpoint of the news highlights the significant growth in asset-backed plans registered by insurance asset management institutions, totaling 130 billion yuan, with a total of 50 plans registered this year, exceeding 200 billion yuan, indicating a substantial increase compared to the same period last year [1] - The insurance asset-backed securities (ABS) are becoming important tools for asset allocation in a low-interest-rate environment, driven by policy regulatory reforms and changes in market conditions [1] - The report indicates that the debt investment plans are shrinking, while the asset-backed plans are rapidly growing, reflecting a shift in investment strategies within the insurance industry [1] Group 2 - The banking sector is facing intense competition, leading to a situation where banks are engaging in price wars, which is eroding industry profits, particularly affecting small and medium-sized banks [2] - Regulatory bodies in various regions are implementing measures to combat this "involution" in the banking industry, encouraging banks to adopt innovative service models and differentiated competition strategies [2] - Southwest Securities has reported a more than 20% year-on-year increase in both revenue and net profit for the first half of 2025, reflecting a positive trend in the A-share market [2] Group 3 - The macroeconomic environment varies across major economies, with central banks adopting different monetary policy paths, leading to a focus on interest rate differentials [3] - Over 300 A-share companies have disclosed their semi-annual reports, with nearly 200 companies reporting year-on-year profit growth, indicating strong growth momentum in sectors like automotive and power equipment [3] - Leading companies such as China Mobile and Kweichow Moutai have reported stable growth in their operating performance for the first half of 2025, with net profits exceeding 10 billion yuan [3] Group 4 - There has been a noticeable increase in the number of A-share companies experiencing "no bidders" in judicial auctions, with 52 companies facing this issue this year, marking an over 80% increase compared to the previous year [4] - The core reasons for the lack of bidders include poor operational conditions, high participation thresholds, and insufficient liquidity [4] Group 5 - The duration of RMB venture capital funds has traditionally been short, but recent changes have seen new guiding funds established with durations exceeding 10 years, allowing for better support of technology projects [5] - The extension of fund durations provides more flexibility for both parent and subsidiary funds in their exit strategies, enhancing the overall investment process [5] Group 6 - Local state-owned assets are increasingly engaging in acquisitions of listed companies, driven by policy encouragement and the need for industrial integration [6] - Analysts are actively researching listed companies to adjust stock ratings based on the latest business developments, with a focus on sectors like pharmaceuticals and machinery [6] Group 7 - The Ministry of Industry and Information Technology has released typical application cases of artificial intelligence in the field of biological manufacturing, showcasing how AI can address traditional manufacturing challenges [7] - The People's Bank of China has conducted significant reverse repurchase operations to maintain liquidity in the banking system, totaling 12 billion yuan in operations for August [7] Group 8 - Various local governments are promoting the construction of high-quality housing to meet the improving demands of the population, with several regions introducing related standards [8] - Measures such as phased payment of land transfer fees and increased housing provident fund loan limits are being implemented to support the construction of quality housing [8]