Wu Qing: The fund industry in our country carries the heavy responsibility given by the times and faces important strategic opportunities.

The China Securities Regulatory Commission released Wu Qing's speech at the fourth member representative conference of the China Securities Investment Fund Industry Association. Wu Qing pointed out that currently, the world is experiencing accelerated changes, with increasing instability and uncertainty in the external environment, high volatility in the international financial markets, and a global asset allocation undergoing deep rebalancing. At the same time, the new round of global technological revolution and industrial transformation, represented by artificial intelligence, is accelerating breakthroughs, urgently requiring the construction of a more adaptable financial services system to better promote high-level circulation of technology, industry, and capital. As an important participant and practitioner of the modern financial system, China's fund industry bears the heavy responsibility bestowed by the times and faces strategic opportunities. First, the growth of new industries nurtures new momentum for industry growth as economic development shifts towards new and superior directions. During the "Thirteenth Five-Year Plan" period, China's economy has been speeding up its transformation and upgrading, with emerging and future industries flourishing and in strong momentum. These industries urgently need capital support and will also provide abundant investment opportunities for the fund industry. Second, profound adjustments in financial structures are releasing new demands for asset management. The demand for investor asset management is accelerating towards diversification, integration, customization, and other directions. The pension financial system continues to expand and improve, with a continuous increase in long-term investment demand. Combined with the impact of low interest rates, the willingness for institutions and residents to reallocate assets is rising, calling for optimization of wealth management services and product supply in the capital markets. Third, the reshaping of capital market institutions is creating a new environment for industry development. The new "Nine Articles" and the "1+N" policy system of the capital markets are restructuring the market operation logic, with comprehensive reforms of investment and financing advancing deeply. The inclusiveness and adaptability of the system continue to improve, providing a solid foundation for the high-quality development of the fund industry.