Recently, the central bank's media once again made a significant statement: to accelerate the construction of a financial powerhouse and help promote Chinese-style modernization.

From last year's Central Financial Work Conference to the "New Nine Articles" of the capital market at the beginning of this year, and then to various departments and institutions starting to study the "Five Major Articles", the term "finance" has been appearing more and more frequently in high-level policy documents.

Why is this happening?

Because the role of finance is more important than ever at this stage.

In the short term, in order to achieve this year's economic growth target, the role of finance is pivotal, after all, the space for fiscal stimulus is continuously shrinking.

In the long term, we also need to cultivate new economic growth drivers to replace the old growth drivers such as real estate and infrastructure, which also urgently requires the role of finance, especially its efficient resource allocation role.

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The question is, how to play the role of finance?

The Central Financial Work Conference pointed out the direction, which is to do a good job in the "Five Major Articles" of technology finance, green finance, inclusive finance, pension finance, and digital finance.

Since last year, the fund industry has been seriously studying the spirit of the meeting, and Bosera Fund is no exception.

As one of the "Five Old Families" companies established for 26 years, Bosera Fund has seriously implemented the deployment of the Party Central Committee and the State Council, and fully exerted the functions of financial services to the real economy, serving the national strategy, and serving the needs of people's wealth management.

Technology Finance: Helping to smooth the "Technology - Industry - Finance" virtuous cycle.

At present, it is the key period for the recovery and development of China's economic operation and industrial upgrading, and it is urgent to rely on technological innovation to cultivate new momentum and stimulate new vitality.

As the first of the "Five Major Articles", technology finance not only reflects the high attention of the central level to technology, but also gives financial services a new historical mission for technology.

The logic is also very clear, technological innovation cannot be separated from the support of finance.

From basic research to technological innovation, and then to the transformation of scientific and technological achievements into industrial applications, each stage requires a large amount of funds, and all need the support of finance, because only finance can gather capital across time and space, allocate resources, and provide means and channels for risk management.

The top-level document requires promoting various advanced production factors to gather towards the development of new quality productive forces, and greatly improve the total factor productivity.

Coincidentally, the direct financing led by the capital market is more in line with the risk preference of the development of new quality productive forces, and the public fund, as the most active value discoverer and market participant in the capital market, can play a greater role in supporting the development of new quality productive forces, and ultimately optimize resource allocation, guide financial resources to flow to the key areas of national development strategy, which is the significance of the public fund to do a good job in technology finance.

How to do a good job in technology finance?

Bosera Fund believes that to do a good job in the big article of technology finance, public funds need to strengthen the construction of scientific and technological innovation investment capabilities, and help to smooth the "Technology - Industry - Finance" virtuous cycle.

This is a general idea of how technology finance empowers the real economy, and Bosera Fund is working hard in three aspects.

1.

The public fund must have strong scientific research capabilities and a complete investment research system, which can identify industries and enterprises with potential, and give full play to the efficient role of finance.

At present, it is on the eve of a major outbreak of science and technology, and all branches of science and technology are sprouting.

In the case of many technologies that can be chosen, some science and technology trees will be abandoned, and some will shine brightly.

How to identify industries and enterprises with industrial potential, and efficiently help science and technology develop towards the industrial direction?

This requires the strong scientific research capabilities and complete investment research system of the public fund.

As one of the "Five Old Families" of the public fund, Bosera Fund has been continuously strengthening investment research strength in the direction of scientific and technological innovation, improving investment methods, perfecting the research system of scientific and technological innovation investment, and creating a comprehensive research system of "industry, government, research, and education".

At present, there are 5 large investment research groups focusing on the direction of strategic emerging industries, and 4-5 level industry segmentation is carried out around key tracks.

They continue to improve the valuation pricing ability of scientific and technological innovation, and value and price enterprises according to the technology development cycle and the life cycle of enterprise growth.

In addition, Bosera Fund has also established a chief investment officer, mainly to strengthen the organization and resource coordination optimization of technology investment, improve the efficiency of investment research conversion, and ensure the smooth operation of the scientific research system.

2.

The public fund should try to expand the resources that can be mastered as much as possible, and truly put the resources into technological innovation and industrial development.

Finance is the lifeblood of the economy, one of the important characteristics is the efficient resource allocation ability.

The premise of resource allocation is that resources can be mastered.

Therefore, if finance wants to improve its resource allocation ability, the first thing to do is to expand the resources that can be mastered as much as possible.

At present, Bosera Fund has laid out more than 60 active equity funds and passive index funds with a technology theme, supporting the innovative development of cutting-edge high-tech and artificial intelligence fields with practical actions.

It is particularly pointed out that the Bosera Science and Technology Innovation 100 Index ETF was officially listed in September 2023, and was officially included in the two-way financing target, and is very popular with investors.

It is currently one of the larger-scale and more liquid ETF products in the same category, supporting the development of science and technology innovation enterprises.

3.

As a professional financial investment institution, Bosera Fund has unique advantages in aspects such as the development direction of enterprises, corporate governance, market research, and product competitiveness analysis, which can help start-up technology companies to develop rapidly.

Technology companies have their own unique advantages, and financial institutions also have their own unique advantages.

Financial institutions have quite rich experience in commercial operation, which can empower technology companies.

In view of its own rich experience, the Bosera Science and Technology Venture Research team actively empowers the invested companies, and shares important market research results from time to time, providing reference for the business decision-making of science and technology innovation companies, helping the company to achieve cross-regional expansion, and the income, net profit, and market value have increased significantly, while also creating a good investment return for fund holders.

The "accompanying" investment of Bosera Fund is not simply to buy and hold.

In addition to supporting high-quality science and technology innovation companies to grow and become stronger in financing convenience, it will also use its own professional investment capabilities to provide research support for the business decision-making of science and technology innovation companies, and help science and technology innovation companies to enter the "fast track" of development.

With the ability, resources, and accompanying services, the public fund will help to smooth the "Technology - Industry - Finance" virtuous cycle.

Green Finance: The Background Color of High-Quality Development.

Financial support for the development of science and technology is of great significance for building a strong country in science and technology and finance; then why develop green finance?

First, finance reflects social values, green finance is the background color of high-quality development, and it is also one of the important engines to promote social green transformation and green development of production methods.

Under the call of the dual-carbon goal and the community of human destiny, green finance is an indispensable major article.

Second, through research on decades of data, it has been found that green finance can span the economic cycle and is expected to obtain better investment returns, which is receiving more and more attention.

Finally, a large number of traditional high-energy-consuming industries in the market are facing the pressure of transformation, and the demand for new technologies, new industries, and new business forms is increasing.

Under such a major trend, for asset management institutions, strengthening the management of carbon emissions in the investment portfolio, and supporting the carbon-neutral transformation of the real economy through financial means, is not only a response to the call of national policies, but also expected to obtain considerable long-term investment returns.

As an active practitioner and leader in the field of green finance, Bosera Fund has been practicing the concept of green and low-carbon, advocating energy saving and emission reduction, and through measures such as water and electricity saving, paperless office, reuse of office supplies, and encouraging employees to live a low-carbon life.

In addition to practicing by itself, the more important action of Bosera Fund is to integrate the green development concept into the product layout and investment research, actively practice social responsibility, and add green power to sustainable development.

1.

Green finance is a new development concept, and the first step to implement the concept is to build a green financial system, identify green assets and valuation, and formulate green investment standards and procedures.

Recently, the "Green Asset Identification and Valuation" research report, which was contributed by Bosera Fund, was published on the ESG research column of the website of the China Securities Investment Fund Industry Association, and is committed to studying the identification and valuation of green assets in the Chinese context.

In addition, Bosera Fund has further formulated the "ESG Investment Full Process Management System" to strengthen the company and industry's ESG standards into the practical ability of investment activities.

At present, the ESG indicator system with Chinese market characteristics built by Bosera Fund includes 3 first-level indicators (environment, society, governance), 14 second-level indicators, and corresponding third-level indicators and fourth-level indicators, in order to fully, objectively, and accurately reflect the performance and management level of enterprise ESG.

This scoring system has covered all A-share listed companies on the Shanghai and Shenzhen stock exchanges and 2460 credit subjects.

The purpose of these forward-looking studies is to attract industry attention to the theme, promote the formation of unified and scientific green asset identification and valuation methods, strengthen the practical ability of ESG standards into investment activities, and help the development of sustainable investment.

2.

After the completion of green asset identification and valuation, and the construction of the green finance investment system, the second step is to expand the green investment layout.

As of the end of 2023, Bosera Fund has established a total of 27 ESG fund products, divided into ESG strategy equity funds, environmental theme equity funds, and social theme equity funds.

The ESG investment scale of the company's fund products reached 9.378 billion yuan, including a total of 808 million yuan for ESG strategy funds, a total of 1.988 billion yuan for environmental theme-related funds, and a total of 6.582 billion yuan for social theme-related funds.

Bosera Fund continues to expand its green bond investment scale, and as of the end of 2023, the green bond investment scale of Bosera Fund's public fund products is 14.369 billion yuan.3.

Publicly offered funds possess substantial resources, which enable them to exert influence on the companies they invest in.

Consequently, these funds can also convey the principles of green finance to the invested companies.

Currently, Bosera Fund has established a comprehensive ESG investment management model that spans the entire process from pre-investment, during investment, to post-investment.

It routinely tracks the ESG investment indicators of invested companies and urges them to take measures for improvement.

In addition, Bosera Fund has also participated in initiating the "Sustainable Development Finance Innovation Experiment" project, connecting with multiple listed companies to jointly discuss the assessment of corporate sustainable development value, and popularizing the concept of green finance among more listed companies.

Inclusive finance and pension finance: A people-centered value orientation.

Both technology finance and green finance are, from a macro perspective, about the role of finance.

However, finance ultimately needs to focus on "people."

If the role of "people" is neglected, causing the public to be too distant from finance and unable to reap the benefits of economic development through it, then there will be a misunderstanding of finance.

How can finance be focused on "people"?

It is by doing well in inclusive finance and pension finance.

Bosera Fund believes that the major topics of inclusive and pension finance fully reflect a people-centered value orientation and represent the needs of people's wealth management.

For publicly offered funds, it is the fundamental principle for high-quality development and also the "examination paper."

First, let's look at the major topic of inclusive finance.

In fact, publicly offered funds were initially designed as inclusive financial products for individual and small and medium investors.

They are strictly regulated, operate in a standardized manner, have transparent information disclosure, low investment thresholds, and are convenient for subscription and redemption, possessing the attributes of inclusive finance.

To increase the popularity of fund products and continuously enhance the value and sense of gain for customers, Bosera Fund adheres to the mission of "creating wealth for the people," practices the original intention of "serving the country with finance, investing for the people," and focuses on the "inclusiveness" and "benefit" of the products.

It is reported that Bosera Fund's "inclusiveness" and "benefit" are mainly reflected in the following four aspects: First, it continues to develop internet finance, using the internet to make fund products accessible to more long-tail customers.

Second, it constantly explores new products, new tools, new scenarios, and new capabilities, achieving 24/7 companionship through online methods such as live broadcasting and wealth accounts.

Third, it fully implements the high-quality development requirements of publicly offered funds, insists on asset allocation first, and uses asset allocation thinking to layout and operate products.

Fourth, it actively implements the regulatory commission's public fund fee reform requirements, and was among the first to announce a reduction in the fee levels of its actively managed equity funds, promoting the healthy development of the industry.

Because they share the common characteristic of being people-oriented, inclusive finance is not isolated in its existence.

Doing well in pension finance can also reflect the inclusiveness of finance.

For example, Bosera Fund's Bosera Yi Ze Balanced Pension Three-Year FOF and Bosera Yi Ze Stable Pension One-Year FOF have both been included in the first batch of personal pension investments and have added Y shares, specifically targeting individual pension account investors, fully reflecting the inclusiveness of the products.

Of course, pension finance is another independent major topic with rich connotations.

As we all know, pension is not just a financial issue; it also relates to social welfare and is a key issue of concern to the people.

Publicly offered funds need to provide high-quality asset management financial products for the public, especially those serving pension asset management, creating value for customers and continuously enhancing the sense of gain for the public.

This allows the public to share in the dividends of high-quality economic development and helps more investors achieve their pension dreams with their own financial strength.

Bosera Fund is a pioneer in domestic pension finance.

As early as 2002, it obtained the qualification of the first batch of national social security fund investment managers.

In 2005, it became one of the first batch of enterprise annuity fund investment managers.

In 2008, it became the domestic investment manager for the overseas assets of the social security fund.

In 2016, it became one of the first batch of identified basic pension fund securities investment management institutions.

In 2018, it obtained the qualification of the first batch of "Central Direct Professional Pension Portfolio" investment managers.

Currently, Bosera Fund is one of the few fund companies in the market that have the qualifications to manage social security funds, pension insurance funds, enterprise annuities, and professional annuities.

At present, Bosera Fund's Bosera Yi Ze Balanced Pension Three-Year FOF and Bosera Yi Ze Stable Pension One-Year FOF have both been included in the first batch of personal pension investments and have added Y shares, specifically targeting individual pension account investors, fully reflecting the inclusiveness of the products.

Bosera Fund's major topic of pension finance is mainly carried out from the following four points: First, optimize social security services, closely follow the design of new social security products and cutting-edge product strategy research, and provide research and investment services.

Second, actively develop enterprise annuities, continuously build a professional annuity investment team, and continuously optimize annuity investment performance.

Third, accelerate the development of the third pillar, increase the layout of personal pension products, and actively develop various styles of stable, clear strategy pension FOF products.

Fourth, strengthen investor pension education and companionship services, open up investment advisory business, build an online and offline three-dimensional Bosera pension ecosystem, and continuously improve the public's awareness and recognition of pension financial products.

After 26 years of accumulation and development, Bosera Fund, which deeply cultivates the pension investment needs of the people, has become a veritable "public fund factory".

On the premise of fully meeting investors' pension investment needs, Bosera Fund will continue to help investors' pension assets grow steadily in the long term in the future, helping investors achieve "old age support" and "old age care."

Digital finance: Helping to cross the "Malthusian Curve" The digital economy is an important driving force for high-quality economic development, and digital finance undertakes the mission of promoting transformation, supporting the integration and development of the digital economy and the real economy.

Under the current macroeconomic pattern, trend, cyclical, and institutional factors are intertwined, which will further intensify the internal differentiation of the public fund industry.

At the same time, the "Malthusian Curve" tells us that if the transformation is not timely, it will gradually become mediocre or even disappear.

Therefore, in recent years, Bosera Fund has not only helped invested companies to accelerate digital transformation but has also accelerated its own digital transformation, and has accelerated the creation of the "Malthusian Curve" for Bosera's transformation.

How to create the "Malthusian Curve"?

Specifically, there are three measures: 1.

Establish a "two horizontal and six vertical" digital transformation framework.

Centering on the company's "leading strategy" goal, technology and business are closely integrated to build a "two horizontal and six vertical" digital transformation framework.

The two horizontals are investment research digitalization and sales digitalization, covering the six verticals of public funds, private accounts, pensions, alternatives, wealth, and international, using digitalization to decouple and reconstruct the company's full license capabilities, and innovate business models.

2.

Create a digital "investment decision system".

Since 2018, it has started to create a digital "new generation investment decision system", establishing an integrated digital support platform for investment research that covers all assets, all processes, and the globe.

Up to now, the system has 12 major subsystems, more than 70 first-level business modules, more than 260 second-level business modules, and more than 5,000 key functional points.

It has won five important financial technology awards, including the "Guangdong Province Financial Innovation Award" and the "Shenzhen City Financial Innovation Award".

3.

Industry-leading AI exploration and practice.

Bosera Fund promotes the close integration of business and technology, and comprehensively carries out digitalization and intelligent transformation.

The company takes digitalization to promote high-quality development as its purpose, deeply integrates technology and business, and was the first in the industry to establish an artificial intelligence laboratory.

It co-hosted the first large model competition in the financial industry with the China Computer Federation and Alibaba Cloud.

In addition, against the backdrop of the gradual advancement of artificial intelligence technology, Bosera Fund promotes business innovation transformation centered on customers with digitalization, creates a high-quality digital service system and a comprehensive system support capability, and continuously improves the application effect of intelligent services.

It uses digitalization to drive the upgrade of internal management and achieve quality improvement and efficiency enhancement.

Currently, Bosera Fund has implemented ten key projects, including the transformation of channel services, the transformation of institutional sales business, the investment advisory service platform, the digital sales system of wealth management, the online sales system of overseas funds, the digital marketing platform, the new generation of investment decision support system, the investment research data platform, and the external service system.

After several years of construction, Bosera's digital transformation has entered a stage where technology promotes changes in business models and enhances business competitiveness, from the early stages of governance system, team building, technology base construction, and management application construction.

Conclusion: China has a complete system of manufacturing and the world's largest agriculture, etc.

We must have a solid foundation and a strong real economy as support.

Finance is the core of the modern economy and the lifeblood of the national economy.

Building a strong financial country is an important part of the country's core competitiveness.

"Finance is active, the economy is active; finance is stable, the economy is stable."

The transformation and upgrading of China's economy, high-quality and efficient development cannot be separated from the support of finance.

The financial industry, as the main body and core of modern service industry, provides financial services to the real economy as its foundation.

The higher quality development of the real economy cannot be separated from the better development of finance.

In the current environment, we should pay more attention to the role of finance, do well in technology finance, green finance, inclusive finance, pension finance, and digital finance "five major topics", and help the high-quality development of the economy.