CSRC Chair Wu Qing told the China Securities Investment Fund Association’s 4th
member meeting that frontier technologies such as artificial intelligence are
driving deep change in fund industry business models and ecosystems. He urged
firms to deepen innovation across products, services, operations and
organization to better meet market demand, and to strengthen technology
enablement by prudently and orderly exploring AI, big data and related tools to
support investment research, client service and internal controls while
accelerating digital and intelligent transformation. Wu called for
differentiated development — large firms should raise overall competitiveness,
while small and midsize firms should compete on specialization and core
strengths rather than scale — and for stronger end-to-end risk controls over
innovation. He said innovation pace and intensity must match management
capability and vowed to crack down on pseudo-innovation, explicit naming
concept-driven hype, complex nested structures, excessive speculation and
channel arbitrage as targets.
