证券公司资产管理行业发展回顾与未来展望

Review and prospect of the development of securities companies＇ asset management business

在融资需求驱动和政策放松的背景下，过去五年证券公司资产管理业务规模增长较快。但近期经济、监管环境发生了较大变化，券商资管的发展速度、业务模式都面临调整。文章回顾了本轮券商资管行业快速发展的原因和特点，对券商资管未来的业务特征、发展方向和路径进行了探讨，并给出了政策建议。

Under the policy easing context, the asset management business of securities companies, driven by financing demand, has been growing rapidly over the past five years. Yet with major changes in recent economic and regulatory environment, the reviews the reason for and the characteristics of the rapid development of the asset management industry, probes into the future business characteristics, development direction and path, and offers policy proposals.