One is renewed, and everything is renewed. In the blink of an eye, we ushered in the Spring Festival of the Year of the Dragon. In this festival of family reunion, on behalf of Dongfanghong Asset Management, I would like to extend my heartfelt thanks and sincere greetings to all investors, shareholders and friends from all walks of life who have long cared for and supported the development of Dongfanghong Asset Management! I would like to pay high tribute to all my colleagues and their families who have worked hard in the company! I sincerely wish you all happiness, health and all the best in the new year!
2023 is the first year for the full implementation of the spirit of the 20th National Congress of the Communist Party of China. As the world enters a new period of turbulence and change, with insufficient global economic growth momentum and slowing global growth, China's economy has embarked on a recovery curve of upward improvement, further optimized its economic structure, made solid progress in high-quality development, and successfully achieved the main expected goals of economic and social development for the whole year, showing great resilience.
In the face of a complex and severe market environment, the 25-year-old public offering industry ushered in change and rebirth in the midst of challenges, and the scale of management surpassed that of bank wealth management for the first time during the year, assuming more significant fiduciary responsibilities. On the road to the practice of inclusive finance, the road of public offering is not smooth. In the face of uncertain challenges, the best managers have truly benefited investors by deepening system reform, improving enterprise management, improving the layout of innovative products, and consolidating core competitiveness, striving to achieve the unity of the interests of managers and investors, promoting the construction of a benign industry ecology, and contributing to the high-quality development of the industry.
Firm belief and forge ahead. 2023 is also the year of Dongfanghong Asset Management's "second venture". This year, Dongfanghong Asset Management adheres to the original mission of "putting the interests of customers first", firmly values investment, continuously consolidates its professional core competitiveness, and strives to benchmark first-class institutions by building a "platform-based, diversified and market-oriented" system. With the in-depth development of the "second entrepreneurship", Dongfanghong Asset Management has experienced some pains in the transition period, but it has also achieved remarkable results - the investment and research sharing mechanism is more open and transparent, the investment strategy and style are more diversified, and the assessment mechanism and talent evaluation system are more scientific and perfect.
The road is long and the line is coming. Standing at the starting point of the Year of the Dragon, there are more market opportunities than risks. Although the foundation of China's economic recovery still needs to be strengthened, continued policy support is expected to reverse investors' expectations and have a positive impact on the market. In the critical year of promoting the goal of "second entrepreneurship" of Dongfanghong Asset Management, we will earnestly serve the national strategy and the real economy, adhere to the theme of high-quality development, work hard to improve the internal skills of investment and research, do a good job in the accumulation and inheritance of investment and research capabilities, practice product and business integrity and innovation, strengthen the construction of compliance and risk control, actively practice social responsibility, interpret the responsibilities and responsibilities of financial institutions with practical actions, and effectively achieve the development of the company and the interests of investors to improve and progress together.
Spring is sprouting, and recovery can be expected. Finally, on the occasion of the Chinese New Year, I wish you all a prosperous Year of the Dragon!