Page 3 - CCFA Journal - 12th Issue

加中金融

编辑寄语 Editor’s Message

As autumn deepens, Toronto revels in its vibrant foliage, marking a fruitful harvest season. With pride, we unveil the 12th
edition of the CCFA Journal. Over the last three years, our unwavering commitment to sharing expert insights and market
acumen has won widespread recognition from industry professionals. The content of this edition promises to be equally
engaging.
First, we're thrilled to present a feature article titled "Charting Uncharted Waters: Dr. Wu Yanan Leading the Way in Inclusive
Financial Technology." Yanan, a board member of the Canadian-Chinese Finance Association, has an extraordinary trajectory,
transitioning from a trained nuclear physicist to a high-profile fund manager in North America, and ultimately a successful
entrepreneur in Asia Pacific. He shares with us his latest business ventures and offers a unique perspective on the
opportunities in the region. It’s worth noting that this interview piece is crafted by Wei He, a seasoned media and
communications professional who recently joined our editorial team.

One pivotal factor shaping the future of Asia Pacific is China. In "Harnessing the Power of Pessimism" by Rosefinch, we delve
into a detailed comparison of market data from China and the United States. The article encourages investors to stay
confident, highlighting investment opportunities in areas like new energy vehicles. Also in this issue, Bilal, Vanguard's Head
of Investment Strategy in Canada, offers his unique forecast on global market prospects and the future of various asset
classes.

While we emphasize forward-thinking, reflection remains crucial. In our risk management column, Wallace Laws deep-dives
into the US version of the FRTB new capital agreement (the US equivalent of Basel III). He highlights collective efforts to
enhance its efficacy within the regulatory capital framework. Furthermore, we reflect on the invaluable insights from the
CCFA "Risk Lecture" panel session, where we discuss the significant impact of liquidity risk on US regional banks this year.

Back to Canada: We bring together two insightful "Money Talk" interviews from TD, analyzing the Canadian real estate
dynamics in a high-interest-rate environment. We also discuss the practical application scenarios of tax-free accounts
introduced by the government this year to support first-time homebuyers. Despite the changing environment and evolving
policies, our dedication to delivering quality content remains unwavering. We conclude with a recap of our iconic summer
BBQ event, leaving readers with warm memories of sunshine and friendships.

As autumn sets in, we hope you take a moment to relax and enjoy the season. Grab your favorite drink, pick up our
magazine, cozy up in your favorite spot, and dive into the pages for some insightful reading.

Emily

时值深秋，层林尽染。多伦多靓丽的风景线如诗如画，尽展都市魅力。在这收获的季节，我们也自豪地推出了 CCFA 期
刊的第 12 期。在过去的三年中，我们不断为读者呈现专业的观点和市场洞察，得到了业界的广泛认可。相信这一期的内
容也同样令人期待。

首先是我们重磅推出的人物专访：《乘风破浪，吴雅楠引领科技普惠金融》。受访人是加中金融协会董事会成员吴雅楠博
士。雅楠从科班出身的核物理科学家，成长为北美知名的基金经理，又投身亚太市场连续成功创业，这样的经历可谓传奇。
他娓娓道来自己的创业故事，分享了最新的商业版图布局，并揭示了亚太地区的独到机遇。值得一提的是，本次采访由新
晋加盟 CCFA 期刊编辑部的 Wei He 操刀，她具有丰富的媒体采编和企业传播经验。

决定亚太市场走向的关键还得看中国。来自朱雀基金的《悲观也是一种力量》分析比较了中美市场的一手数据，也深入讨
论两者各自的动能和阻力。文章还特别强调了光伏新能源汽车等产业的投资潜力，鼓励投资者保持信心。 此外，先锋基
金公司（Vanguard）的加拿大投资策略的负责人 Bilal 在本期为我们带来了对全球市场的深度预测，并对未来各资产类别
的走势进行了分析。

有展望就有回顾。在“风险管理”专栏中，Wallace Laws 详细阐述了美国版的 FRTB 新资本协议（又称美国版巴塞尔 III
协议），揭示了其改革的复杂性并加强其在监管资本框架的有效性。此外，我们还回顾了上一轮 CCFA 的"风险讲座"小组
活动，探讨了流动性风险如何在今年给美国的地区银行带来血的教训。

将视线移回至加拿大市场：本期包含来自 TD 的两篇"Money Talk"采访，深入分析了高利率背景下的加拿大房地产市场，
以及今年政府为初次购房者推出的免税账户的应用场景。尽管外部环境和政策不断变化，但是我们的初心不变。杂志的最
后带您回顾协会经典的夏日 BBQ 活动，把欢乐定格在炙热的阳光和真挚的友情。

秋风渐起，季节更迭，但我们的热忱如初。拿起喜欢的热饮，找个舒适的角落，沉浸于阅读，让知识的温暖环绕你。

顾怡

CCFA JOURNAL OF FINANCE November 2023 Page 3 第3页