The undercurrent of the seller's research is surging, and small and medium-sized brokerages frequently appear against the trend to create differentiated competitive advantages and achieve corner overtaking. Recently, Liu Xiaoning, assistant to the general manager and director of the research institute of Huayuan Securities, said in an exclusive interview with a reporter from the China Securities Journal that Huayuan Securities has been on the stage of the capital market with a new look since it officially changed its name in September last year. Research business is one of the key directions of the company, and it is planned to build a new type of research institute that is "competitive externally and supportive internally".
As a platinum analyst of New Fortune with 15 years of experience in the securities industry, Liu Xiaoning has been deeply involved in the field of industrial research, and has served as a member of the Party Committee and deputy general manager of Shenwan Hongyuan Research Institute, director of the research department of energy, environmental protection and materials industry, chief analyst of the public, environmental protection and coal industries, and has been in charge of energy, materials, science and technology, Beijing Stock Exchange and other fields, responsible for research and company collaborative development.
"In the future, we will strengthen the construction of investment and research capabilities, and start from the systematic needs of the group to 'focus on the main business and base on the local area', strengthen the tracking and research of the group's key industries, key industries and key areas, and empower the group to promote the high-quality development of the local real economy." Liu Xiaoning said.
Liu Xiaoning, assistant general manager and director of the research institute of Huayuan Securities
Actively implement the new "National Nine Articles", pay attention to the depth and breadth of research
Recently, the capital market ushered in the "Several Opinions on Strengthening Supervision and Risk Prevention to Promote the High-quality Development of the Capital Market" (hereinafter referred to as the new "National Nine Articles"), Liu Xiaoning believes that the new "National Nine Articles" have released the country's great attention and firm determination to the development of the capital market, pointed out the direction for the future development of the mainland capital market, and made more investors full of confidence in the healthy development of the capital market and the continuous improvement of investment returns in the future.
For example, in 2004, it was more about improving the basic system of the capital market, in 2014, it emphasized the openness of the market and the improvement of international competitiveness in the context of globalization, and in 2024, it will pay more attention to risk prevention and control and qualitative improvement in the complex and changeable international economic environment.
"After the release of the new 'National Nine Articles', it will solve the long-standing deep-seated problems and contradictions in China's capital market, and promote the transformation of China's capital market from a 'financing market' to an 'investment market'." Liu Xiaoning said that in addition, the implementation of the rate reform in the first two stages of the public fund industry can save investors about 20 billion yuan per year.
For the securities research business, Liu Xiaoning believes that the introduction of the new "National Nine Articles" and various supporting policies of the China Securities Regulatory Commission will bring new opportunities and challenges, forcing research institutions to continuously adapt to market changes, effectively improve research quality and service capabilities, and provide more valuable and in-depth research results. For example, strengthening the capacity building of wealth management, promoting the entry of medium and long-term funds into the market, and encouraging the vigorous development of equity public funds, which will increase the supply of funds in the market, improve the stability and liquidity of the market, promote the professional and characteristic development of securities research institutions, and help the transformation of wealth management. Strengthening the supervision of cash dividends, deepening the reform of the delisting system, and incorporating market value management into the assessment will prompt research institutions to pay more attention to the quality and value of listed companies, and strengthen the analysis of the company's fundamentals and financial status. At the same time, it will also prompt enterprises to pay more attention to market value management, and securities research institutions can provide professional market value management consulting services to help enterprises improve market value and market image.
"In the context of the new 'National Nine Articles', securities research institutions can deepen their characteristic research in specific fields or industries according to their own resource endowments, provide differentiated research results and investment advice, and create a 'small and refined' securities research institute." Liu Xiaoning said that securities research institutions should strengthen risk compliance management, pay attention to the depth and breadth of research, improve the accuracy and reliability of research reports, broaden research fields such as emerging industries and green finance, strengthen internal and external cooperation and exchanges, and continuously attract and cultivate professionals with solid research capabilities, build their own core competitiveness and service support, and give full play to the value of investment and decision-making support.
Efforts should be made to do a good job in science and technology finance and green finance to promote the high-quality development of the regional economy
As the core intersection of the two national strategies of the rise of central China and the Yangtze River Economic Belt, Wuhan is also accelerating the construction of a science and technology innovation center with national influence, and Huayuan Securities relies on the advantages of Wuhan Financial Holding Group, the actual controller, as the only first-class financial state-owned assets platform in Wuhan, and is expected to integrate these characteristics and advantages to play the greatest effect. Wuhan is also one of the six major science and technology innovation centers in China, with 83 universities, 155 national innovation platforms, and 34 national key laboratories, which produce a large number of scientific research results every year.
"How to make good use of these achievements, accelerate their transformation, and help the development of new quality productivity is also an important topic that the financial industry, especially Huayuan Securities Company and Research Institute, needs to answer." Liu Xiaoning said with emotion.
Scientific and technological innovation can give birth to new industries, new models and new kinetic energy, and is the core element of the development of new quality productive forces. According to Liu Xiaoning, on the one hand, the company will continue to increase investment in science and technology finance, provide financial support for scientific and technological innovation, promote the transformation of scientific and technological achievements, and use financial strength to help Wuhan scientific and technological innovation play a good first move, and show great achievements in promoting high-level scientific and technological self-reliance and self-reliance. On the other hand, it is necessary to give full play to the advantages of local scientific and educational resources, build a team of financial professionals, provide diversified financial products, and provide personalized financial services in combination with local advantageous industries.
In terms of green finance, in recent years, the average growth rate of green loans in Wuhan has led the country significantly, and the proportion of green loans in all loans has been higher than the national average. At the same time, Wuhan has a national carbon market registration and settlement center, a national pilot carbon market and a climate investment and financing pilot, and the three national platforms continue to gather carbon elements such as data flow, capital flow and information flow, which is unique in the country.
Liu Xiaoning said that the company will actively expand financing channels, build a green investment bank around the "dual carbon" strategy, focus on promoting the innovation and process optimization of financial products such as green loans, green bonds, and green funds, and increase the scale and proportion of green financing in the fields of resource recycling, new energy vehicle chain and clean energy. It is also necessary to continue to attract industrial capital, make good use of the unique role of industrial capital in promoting the high-level circulation of science and technology, capital and the real economy, create a new highland for capital gathering, and accelerate the green and low-carbon transformation and upgrading of industries to explore new paths.
In Liu Xiaoning's view, this undoubtedly brings great opportunities to the research business, and in the future, we will strengthen research and planning, sort out the characteristics of local industries, anchor market trends and plan industrial layout, and carry out in-depth development research on carbon trading, carbon finance, green finance, and transition finance, so as to contribute to the new path of green transformation and upgrading of the industry and the intensive development of low-carbon conservation.
Helping to build a financial power provides investors with valuable decision-making basis
Previously, the Central Financial Work Conference put forward the grand goal of "accelerating the construction of a financial power". Liu Xiaoning said that the fundamental purpose of building a financial power is to serve Chinese modernization, and the only path is to take the road of financial development with Chinese characteristics, and the current task is to prevent risks and strengthen supervision to promote development.
"I think securities research can help to a certain extent to achieve the overtaking of the internationalization of the mainland's financial industry." Liu Xiaoning said that research institutions should first do a good job of refining their main responsibilities and main business, and carry out professional analysis of macro dynamics, industry trends and company fundamentals, so as to provide investors with valuable decision-making basis. At the same time, through research and analysis, we will do a good job in risk assessment and management, provide support for the prevention of financial risks, and promote the maintenance of financial market stability.
In addition, Liu Xiaoning said that it is necessary to give full play to the advantages of the intellectual resources of the institute, cultivate international and professional talents for the industry, and expand the high-quality financial research team for the financial power. Firmly establish the concept of serving the country with finance, closely follow the national, local and corporate development strategies, and invest research resources in key areas such as new quality productivity, five major articles on finance, and the construction of a financial power.
In terms of serving the real economy, Liu Xiaoning believes that securities research institutions should provide decision-making suggestions for all kinds of enterprises to promote the development of the real industry; Most of them provide suggestions and suggestions for policies, and provide reference for the government to formulate financial, industrial and other policies and plans.
Investors are the foundation of the development of the capital market, Liu Xiaoning emphasized that securities research institutions should focus on "investor-oriented" and create high-quality research results. Only by adhering to the concept of "investor-oriented" and effectively enhancing investors' sense of gain can the capital market be more prosperous and investment and financing activities more active.
"In the process of building the investment research system, we must always implement this concept, implement the people's position in the capital market to all aspects of securities research, and improve the ability of research institutions to discover investment value through their own high-quality development, so as to enhance investors' sense of gain." Liu Xiaoning finally added.
Reviewer: Wang Chao Editor: Wang Yin Proofreader: Jiao Yuanyuan Producer: Li Ruoyu Signed: Sun Hong
