The innovative development of financial business must follow the basic laws to see whether it is conducive to supporting the real economy, preventing and controlling risks and protecting the legitimate rights and interests of investors. Only by adhering to honesty and innovating the asset management industry can we be stable and far-reaching Facing the more complicated and changeable domestic and international economic and financial situation, it is even more necessary to grasp the effective balance between maintaining growth and preventing risks. On the one hand, we will continue to maintain supervision, resolutely crack down on illegal activities in key areas such as shadow banking and illegal finance, consolidate the achievements of previous governance and prevent risks from rebounding. At the same time, it is also necessary to serve the investment and financing needs of the real economy as the positioning and fundamental goal, accelerate the transformation of the asset management industry, enhance its adaptability and flexibility to the real economy, and better serve the overall situation of China's economic and social development.
The asset management industry started late in China, but developed rapidly, playing an increasingly important role in the financial system. In the process of rapid expansion in the early stage, irregularities such as nested investment, maturity mismatch, regulatory arbitrage and even market chaos were exposed, which accumulated financial risks, increased the unstable factors of the financial system and affected the external impression of the industry. In recent years, the regulatory authorities regard the asset management industry as a key area to prevent and resolve financial risks and rectify the chaos in the financial market. Especially after the promulgation of 20 18 "Guiding Opinions on Standardizing Asset Management Business of Financial Institutions" (hereinafter referred to as "new regulations on asset management"), the construction of supervision system and rules system has been strengthened, and the rectification of chaos in shadow banking and cross-finance fields has been intensified, and industry governance has achieved landmark and important results.