Financial sector profits face challenges reaching one trillion yuan this year

Financial industry profits may not exceed one trillion dollars this year. The financial sector's pre-tax earnings reached 842.6 billion yuan in the first ten months. While banks are performing well, life insurers have seen significant losses due to currency fluctuations, making the one trillion yuan target challenging. Last year, the financial industry surpassed one trillion yuan in profits, with banks contributing the most. This year, the decline in life insurer profits is the primary factor affecting the overall target. Lawmakers also discussed increasing employee salaries and addressing structural issues within the life insurance industry, with the Financial Supervisory Commission emphasizing a long-term approach to regulatory adjustments.