Xiao Gang: In the first quarter, the intensity of financial technology investment in the securities industry ranked first among various financial sub-industries.

Xiao Gang, former chairman of the China Securities Regulatory Commission, stated on May 18th at the 2025 Tsinghua Wudaokou Global Finance Forum that in the first quarter of this year, the overall technology investment of financial institutions has been more carefully managed while maintaining stable growth. Among them, the intensity of investment in financial technology by the securities industry in the first quarter is the highest among various sub-sectors in the financial industry. On the one hand, this is related to the fact that the securities industry has not invested much in the past compared to the banking industry. On the other hand, especially since last year and in the first quarter of this year, the securities industry has increased its investment intensity.