兴银理财日前公告称，公司获批以未分配利润转增注册资本方式增加注册资本50亿元，注册资本变更为 100亿元。此次增资已完成工商变更登记。记者查询国家企业信用信息公示系统获悉，兴银理财仍是兴 业银行全资子公司。 此番增资后，兴银理财注册资本规模晋升至行业前列，也是唯一一家注册资本达百亿的股份行理财子。 记者注意到，年内理财公司增资并非个例，包括兴银理财在内已有4家理财公司增资获批，且增资后股 权结构均保持不变，部分机构已完成注册资本变更。 有分析认为，理财公司自成立以来经过数年快速发展，原有的资本金正逐渐被消耗，并开始进一步影响 到了业务发展。因此，未来几年内，理财行业将迎来新一波理财公司的增资潮。 注册资本翻番 兴银理财由兴业银行在福州全资发起设立，于2019年底开业，初始注册资本50亿元。 兴银理财表示，增加注册资本为公司持续经营和未来发展提供了更加稳固的基石，旨在传递长期稳健发 展理念，展示深耕资管领域、更好地服务实体经济和投资者需求、实现可持续发展的坚定决心。 谈及理财公司增资的动因，资深金融监管政策专家周毅钦表示，首先是缓解净资本约束，"兴银理财近 年来规模年复合增速较快，资本消耗较多，确实亟需补充资本 ...

Core Viewpoint - The Chinese wealth management market is focusing on solidifying institutional foundations, enhancing professional capabilities, and building a healthy ecosystem as it approaches the one-year mark of the "9·24" policy implementation in 2024 [1] Group 1: Institutional and Product Supply - Industry leaders suggest increasing institutional and product supply to promote healthy development in wealth management [2] - Recommendations include tax incentives for long-term investment behaviors and optimizing the regulatory environment to encourage long-term investment and advisory services [2][3] - There is a consensus on the need for a regulatory framework and evaluation system that aligns with the buyer advisory model, promoting a shift from "selling products" to "managing accounts" [2] Group 2: Investment Advisory Services - Investment advisory and fund advisory services are seen as crucial for the future development of the industry, with a focus on enhancing these services [4] - There is a call for clearer regulatory guidance on advisory service standards, especially regarding digital and AI-assisted decision-making [4] - Suggestions include expanding the range of investable assets in fund advisory services, particularly incorporating ETFs to improve asset allocation efficiency [4] Group 3: Industry Competition and Collaboration - The industry is experiencing intense competition, with calls to avoid low-level price wars and instead focus on investor education and research [6] - Industry leaders advocate for self-regulation and collaboration to create a fair and orderly market environment [6] - There is a push for shared resources in investor education and risk management to enhance the overall quality and image of the wealth management industry [6]

站在2024年"9·24"一揽子政策落地一周年的新起点，中国财富管理市场下一步如何夯实制度根基、提升专业 能力、构建健康生态，成为证券行业共同的议题。 近日，券商中国记者采访了多家券商财富管理业务分管高管及业务负责人。他们普遍认为，需进一步加大制度 与产品供给，尤其针对投顾业务，要不断完善考核、激励等基础制度。同时，业内人士还呼吁，共建行业生 态，避免低水平价格竞争，将更多资源投入投教、投研及客户服务中。 加大制度供给及产品供给 券商财富管理业务良性发展，离不开顶层设计的指导。受访券商高管建议，进一步加大制度和产品供给，推动 行业良性发展。 在引导长期投资方面，山西证券副总经理韩丽萍谈到，建议针对长期投资行为，给予税收优惠政策，引导投资 者树立价值投资理念。兴业证券首席财务官许清春建议，进一步优化制度环境，鼓励长期投资和配置型服务， 例如可考虑扩大个人养老金投资范围、探索投顾服务费抵扣机制。 中泰证券首席财富官胡增永也建议，将场内ETF纳入基金投顾配置范围，这或有助于投顾更灵活地使用行业轮 动、风格轮动等策略。 同时，胡增永建议，尽快推动券商证券投顾业务转型、基金投顾业务试点转常规、建立顾问人才统一执业标准 ...

近日，证券时报记者采访了多家券商财富管理业务分管高管及业务负责人。他们普遍认为，需进一步加 大制度与产品供给，尤其针对投顾业务，要不断完善考核、激励等基础制度。同时，业内人士还呼吁， 共建行业生态，避免低水平价格竞争，将更多资源投入投教、投研及客户服务中。 加大制度供给及产品供给 券商财富管理业务良性发展，离不开顶层设计的指导。受访券商高管建议，进一步加大制度和产品供 给，推动行业良性发展。 在引导长期投资方面，山西证券副总经理韩丽萍谈到，建议针对长期投资行为，给予税收优惠政策，引 导投资者树立价值投资理念。兴业证券首席财务官许清春建议，进一步优化制度环境，鼓励长期投资和 配置型服务，例如可考虑扩大个人养老金投资范围、探索投顾服务费抵扣机制。 完善与买方投顾模式相适应的监管框架和评价体系，是行业共识。许清春认为，如此一来可推动行业 从"卖产品"向"管账户"转型，实现与投资者利益对齐。他还表示，持续丰富以投资者持有体验为核心的 评价维度，推动建立跨机构的统一度量标准，定期公开发布行业白皮书，将"客户盈利比率""平均持有 周期""调仓胜率"等指标纳入考评，形成"良币驱逐劣币"的正向激励，引导机构践行金融向善。 华 ...

Core Viewpoint - The Chinese wealth management market is at a new starting point one year after the implementation of the "9·24" financial policy package, focusing on solidifying institutional foundations, enhancing professional capabilities, and building a healthy ecosystem in the securities industry [1] Group 1: Institutional and Product Supply - Industry executives suggest increasing institutional and product supply to promote healthy development in wealth management [2] - Recommendations include tax incentives for long-term investment behaviors and optimizing the regulatory environment to encourage long-term investment and advisory services [2] - There is a consensus on the need to improve the regulatory framework and evaluation system to align industry interests with those of investors [2][3] Group 2: Investment Advisory Services - Investment advisory and fund advisory services are seen as crucial for the future development of the industry, with a focus on enhancing these services [4] - There is a call for clearer regulatory guidance on advisory service standards, especially regarding digital and AI-assisted decision-making [4] - Suggestions include incorporating ETFs into advisory portfolios to enhance investment efficiency and flexibility [4] Group 3: Competition and Industry Ecology - The industry faces intense competition characterized by low-level price wars, prompting calls for a collaborative approach to build a healthier industry ecosystem [6] - Executives advocate for strengthening industry self-discipline and enhancing investor education to improve overall service quality and industry image [6] - There is a push for differentiated positioning and specialized services to establish competitive advantages during the wealth management transformation [6]

Group 1 - The conference "Investment for Good" focused on the importance of ESG (Environmental, Social, and Governance) investment as a significant innovation in investment philosophy and a crucial exploration of future development directions [1] - The company has been a pioneer in green finance in China, establishing a comprehensive green finance system over 19 years, which includes diverse products and carbon finance services [1] - The company integrates ESG principles into its product lines and continuously enhances its green finance product and service system [1] Group 2 - The company actively seeks high-quality ESG assets and emphasizes the performance of financing entities in ESG aspects, creating an ESG green asset index to support investment decisions [2] - The company has developed a comprehensive ESG product system in fixed income, covering short, medium, and long-term strategies, and is expanding into multi-asset and equity ESG products [2] - The company aims to leverage the forum to collaborate with various parties to promote the development of ESG investment and contribute to the construction of a beautiful China [2]

Group 1 - In 2024, approximately 26% of A-share companies received upgraded ESG ratings, primarily in the non-essential consumer goods, financial, and healthcare sectors [1][2] - The ESG information disclosure system for listed companies is continuously improving under policy guidance, with over 2400 A-share companies disclosing ESG reports, achieving a disclosure rate of over 40% [1][2] - MSCI data indicates that the overall ESG ratings of A-share companies have been on the rise since 2020, with the rate of upgrades significantly outpacing downgrades [2][3] Group 2 - The China Securities Regulatory Commission (CSRC) has introduced revised regulations for ESG information disclosure, which will take effect on July 1, 2024, marking a significant regulatory shift [2][6] - MSCI's research shows that the proportion of companies rated AA and AAA in the Asia-Pacific region has increased from 9.1% in 2020 to 17.4% in 2024, while the proportion of companies rated CCC and B has decreased from 33.2% to 20.9% [3][4] - Central state-owned enterprises face greater pressure for ESG disclosure, and high-quality disclosures from these companies could lead the way for smaller enterprises to enhance their ESG reporting [6][8] Group 3 - The increasing pressure for ESG disclosures is accompanied by challenges, including the need for companies to clarify new disclosure requirements and improve data quality [8] - The investment landscape for ESG is characterized by multiple stakeholders, including sovereign funds, pension funds, and insurance companies, which are increasingly integrating ESG factors into their investment practices [8][9] - There is a growing recognition among companies of the importance of ESG performance in influencing financial results and long-term profitability [6][8]

Core Insights - The CEO of La Banque Postale Asset Management, Alexandre Werno, expresses optimism about the prospects for financial and trade cooperation between China and Europe [1][2] - The company aims to meet the increasing demand for stable investment products among clients, emphasizing the importance of delivering consistent returns [3][4] Group 1: Product Performance and Client Demand - Since its establishment, the company has focused on a client-demand-driven product design philosophy, prioritizing stable returns over complexity [3] - All closed-end fixed-income products have met or exceeded performance benchmarks, which has garnered high client recognition [4] - The company plans to continue launching medium to low-risk products to address clients' needs for stable investments [5] Group 2: Channel Development and Business Expansion - Agricultural Bank of China serves as the core channel, significantly supporting the company's growth [6] - The company has successfully raised 2.5 billion RMB in 30 hours for its first product through Agricultural Bank's channel [6] - Efforts are underway to diversify channel development beyond Agricultural Bank, including partnerships with Nanjing Bank and Standard Chartered Bank [8] Group 3: ESG Opportunities - The company has integrated ESG principles into its operations, establishing a dedicated ESG research team [11] - ESG products are seen as a strategic component aligned with both French and Chinese shareholder interests, providing a solid policy foundation for development [11] - The growing focus on sustainability among investors presents an opportunity for the company to add value through ESG offerings [11] Group 4: Corporate Culture and Team Building - The CEO emphasizes the importance of communication and establishing a market-oriented performance evaluation system to foster a positive corporate culture [14] - The company aims to leverage the diverse backgrounds of its employees to enhance its global perspective [14] - Employee engagement is encouraged to contribute to the company's growth and sustainability [15]