中国养老金融:趋势展望与发展建议  

Ageing Finance in China:Future Trend and Policy Suggestions

作　　者：谭小芬 曹倩倩 TAN Xiaofen;CAO Qianqian

机构地区：[1]北京航空航天大学经济管理学院 [2]中国工商银行博士后科研工作站

出　　处：《新金融》2025年第3期10-19,57,共11页New Finance

摘　　要：我国高度重视人口老龄化问题,2023年中央金融工作会议将“养老金融”列入金融“五篇大文章”,标志着养老金融进入发展新阶段。当前,在“政策发力与市场驱动”的主要支持下,我国养老金融生态已初步形成,第一支柱基本实现全覆盖,第二支柱补充养老功能日益提高,第三支柱以政策驱动和自愿参与为主,扩容空间巨大。但总体来看,我国养老金融建设仍面临一定挑战,存在三支柱体系发展不平衡、部分产品市场认可度不高、养老产业市场化投融资规模较小等问题。预计未来养老金融发展将呈现六大趋势:政策端,制度建设更趋完善;监管端,监管改革协调推进;需求端,享老意识逐渐增强;供给端,市场驱动提质增效;场景端,科技赋能智慧养老;市场端,“五篇大文章”融合发展。由此,本文从政府层面与金融机构层面提出政策建议,包括加强监管协调与投资者宣传教育、加大金融产品和服务创新等。The Chinese government attaches great importance to the issue of population ageing.Ageing finance is one of the"five major articles"emphasized at the Central Financial Work Conference,marking a new stage in the development of ageing finance.At present,under the main support of"policy efforts and market driving",China's ageing finance ecosystem has been initially formed.The first pillar has basically achieved full coverage,the second pillar has increasingly enhanced its supplementary function,and the third pillar is mainly driven by policy support.However,China's ageing finance still faces several challenges,including an imbalanced development of the pension system,low market recognition of some ageing financial products,and small scale of market-oriented investment in the ageing industry.This paper shows six major trends in the future development of ageing finance:On the policy side,the system construction is becoming more complete.On the regulatory side,the regulatory system will be coordinated and promoted.On the demand side,the awareness of enjoying old age will gradually increase.On the supply side,the market will drive the improvement of product quality and service efficiency.On the scenario side,technology will enable smart pension development.On the market side,the"five major articles"will be integrated and together developed.Based on such trends,we put forward some policy recommendations at the government level and financial institution levels,like strengthening regulatory coordination,intensifying investor education,and increasing financial innovation,etc.

关 键 词：养老金融 人口老龄化 养老金金融 养老服务金融 养老产业金融 

分 类 号：F832[经济管理—金融学] F842