监管改革出台多项创新政策支持券商业务发展-行业数据

监管改革出台多项创新政策支持券商业务发展

改革出台多项创新政策支持券商业务发展行情启动前期，监管出台一系列鼓励券商创新业务的文件。2012 年 5 月创新大会之后，行业创新和监管放松推动了信用业务（包括两融和股票质押）和泛资管业务发展，助力证券行业业务结构更加多元，行业阿尔法触发券商上涨行情。同时，证券行业的同质化属性开始在龙头券商中弱化。

政策法规

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44CB5L+h5omY562J5Lmf6I635b6X5LqGUUZJSeeUs+ivt+i1hOagvOOAgiB8

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