CSRC Chairman Wu Qing said rising global instability and elevated international
market volatility are driving a deep reallocation of global assets. He warned
the AI-led wave of technological and industrial change is accelerating and
urgently requires a financial services system better adapted to support
higher‑level circulation among technology, industry and capital. Wu said China’s
fund industry faces a strategic opportunity: economic upgrading during the 15th
Five‑Year period is generating fast-growing emerging and future industries that
will need capital and provide plentiful investment targets; deep adjustments in
financial structure are increasing demand for diversified, integrated and
bespoke asset management — an expanding pension system, rising long-term
investment needs and a low-rate environment are prompting institutional and
household portfolio reallocation; and capital-market institutional reform,
including the new 'Guo Jiu Tiao' and the '1+N' policy framework, is reshaping
market mechanics, raising regulatory inclusiveness and adaptability, and
strengthening the foundation for high-quality fund-sector development.
