The research report released by CITIC Construction Investment highlights that the Lujiazui Forum has exerted a positive influence on the non-banking sector, primarily manifesting in three key areas: the expansion of the capital market, the optimization of financial regulation, and the management of liquidity risks. The securities industry stands to directly benefit from these developments. Specifically, the extension of the fifth listing criterion for the STAR Market to encompass the AI large model sector, along with the opening up of the derivatives market and innovations in cross-border business, present substantial growth prospects for investment banking and FICC (Fixed Income, Currencies, and Commodities) operations.

In the insurance industry, the implementation of the 'alignment of actions with declarations' policy is underway, expediting the optimization of the industry's structure. This is being achieved by reducing channel fees and liability costs, as well as curbing disorderly competition, thereby further underscoring the compliance advantages held by leading insurers. Additionally, the People's Bank of China has introduced liquidity support tools tailored for non-banking institutions, establishing a multi-tiered system for risk mitigation. Data indicates that the proportion of direct financing has, for the first time, surpassed that of loans, offering structural support for the long-term central tendency of ROE (Return on Equity) among securities firms.