养老金融是中央金融工作会议部署的“五篇大文章”之一，是党中央应对人口老龄化国情的重大战略部署，对增进居民金融福祉、优化金融市场结构、促进经济社会持续健康发展具有重要意义。发展养老金融，一方面可以帮助增加养老保障供给，有利于完善我国多层次养老保险体系，满足人民群众多样化的养老需求；另一方面有利于深化金融供给侧结构性改革，培育长期机构投资者，促进金融市场健康发展。中央结算公司作为国家金融基础设施，立足债券市场畅通养老金融投融资渠道，服务养老金融投资者保护，积极践行金融工作的人民性要求，切实推动做好养老金融大文章。
汇聚金融活水，助力养老产业融资。中央结算公司作为宏观政策实施平台，为普惠养老专项再贷款提供支持服务，助力银行加强对普惠养老机构的信贷支持，降低普惠养老机构的融资成本；配合财政政策实施，支持地方政府专项债券发行，切实服务养老领域的民生建设。作为债券市场运行服务平台，中央结算公司服务企业养老产业专项债，助力市场化、规范化程度高的养老服务企业直接融资；支持符合条件的金融机构发行金融债、信贷资产支持证券等募集资金，用于养老服务企业发展。
打造服务平台，畅通养老产品投资。中央结算公司落实主管部门决策部署，全程支持养老理财试点，上线养老理财管理系统，有力支持养老理财产品发行和销售。建成个人养老金理财行业平台，为投资者开立唯一个人养老金理财行业平台账户，实现个人养老金投资理财产品信息统一报送，支持个人养老金投资理财业务全面落地。积极发展柜台债券业务，服务居民家庭购买国债、地方债等债券品种，进一步丰富居民家庭的投资选择，增加财产性收入，分散投资风险，促进共享债券市场发展红利，为老有所养增添助力。
丰富信息渠道，服务养老金融投资者保护。养老金融投资关系老年人福祉，尤需突出安全性和稳健性。中央结算公司运营的中国理财网开设个人养老金理财专栏，发布符合规定的个人养老金投资理财产品机构名单和产品名单，为投资者查询信息提供便捷服务。同时，提供理财产品编码真伪查验服务，有效防范“虚假理财”和“飞单”。此外，中央结算公司向柜台投资者提供账务复核查询服务，可比对中央结算公司和柜台开办机构账户记录的一致性，有效防范债券冒发、挪用和业务操作风险，切实维护投资者利益。
百舸争流千帆竞，借海扬帆奋者先。中央结算公司将继续发挥国家金融基础设施作用，贯彻落实中央金融工作会议部署，积极服务养老金融投融资市场需求，与各参与方共同努力，为做好养老金融大文章贡献中债力量。
◇ 本文原载《债券》2024年4月刊
◇ 作者：钟言
◇ 编辑：杜泽夏 廖雯雯
Leveraging Financial Infrastructures in Supporting Elder-caring Finance Industry
Zhong Yan
Pension finance is one of the five major sectors emphasized at the Central Financial Work Conference， and a major strategic arrangement to cope with the aging population， and thus it is of great significance for enhancing the financial well-being of residents， optimizing the financial market structure， and promoting sustainable economic and social development． On one hand， promoting pension finance can help increase the supply of elder-caring security， improve the multi-level pension system， and meet the diverse needs of elderly care． On the other hand， it is conducive to deepening the structural reform of the financial supply side， cultivating long-term institutional investors， and promoting sound development of the financial market． As a national financial infrastructure， CCDC is based on the bond market to facilitate investment and financing channels for pension finance， and support investor protection， to help promote pension finance and thus the well-being of people．
Gathering financial vitality to assist with financing in the elder-caring industry． As a supporting platform for implementation of macro policies， CCDC provides services for the special central bank lending for inclusive elderly care services， helping banks strengthen credit support for inclusive elderly care service institutions and reduce their financing costs． It supports the implementation of fiscal policies and serves the issuance of special local government bonds． As an operation service platform for the bond market， CCDC supports the special enterprise bonds for the elder-caring industry， assisting market-oriented and highly standardized elderly care service enterprises in direct financing． Also， it supports eligible financial institutions to issue financial bonds， credit asset-backed securities， etc． to raise funds for the development of elderly care service enterprises．
Building a service platform to facilitate investment in elderly care products． In line with arrangements and guidance of competent authorities， CCDC supports the pilot program of elderly care wealth management， operates the elderly care wealth management system， and facilitates the issuance and sales of elderly care wealth management products． It has established a platform for the personal pension wealth management industry， opened unique accounts for investors on this platform and enabled unified reporting of personal pension investment in wealth management products， thus supporting personal pension investment in wealth management． In addition， CCDC helps grow the bank counter bond business， and serves households to buy Chinese government bonds （CGB） and local government bonds， thus offering more investment options for households to raise income and diversify risks， promoting the sharing of bond market development dividends， and enhancing support for the elderly．
Improving information service to buttress investor protection． The investment in pension finance is closely related to the well-being of the elderly， therefore security and stability are highly valued． ChinaWealth.com.cn operated by CCDC has set up a personal pension wealth management column， which publishes lists of qualified institutions and products of personal pension wealth managements， and provides the convenient query service． At the same time， the website provides verification services for investors to check the authenticity of wealth management product codes， preventing false or fake products． In addition， CCDC provides accounting review and inquiry services to bank counter investors， which allow investors to check the consistency of account records between CCDC and the banks， effectively preventing frauds， misappropriation and operational risks， and safeguarding the interests of investors．
With unswerving commitment and unparalleled dedication， CCDC will continue to deliver on its financial infrastructure functions and follow the requirements of the Central Financial Work Conference to support investment and financing in the elder-caring financial market， contributing to the concerted efforts promote pension finance．
This article was first published on Bond Monthly （ Apr． 2024）．Please indicate the source clearly when citing this article． The English version is for reference only， and the original Chinese version shall prevail in case of any inconsistency．
◇ Editors：Du Zexia， Liao Wenwen