---
title: "两融余额逼近 2.5 万亿元关口 券商 “扩规模” 与 “控风险” 并行"
description: "A 股市场融资融券余额接近 2.5 万亿元，创历史新高，市场杠杆资金活跃度增强。券商面临扩规模与控风险的双重挑战。萨摩耶云科技集团首席经济学家郑磊指出，券商需在扩规模与控风险之间寻求动态平衡，采用精细化的风控手段应对市场变化，并关注风险指标与应急机制，确保业务稳健开展。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/262314305.md"
published_at: "2025-10-22T23:30:11.000Z"
---

# 两融余额逼近 2.5 万亿元关口 券商 “扩规模” 与 “控风险” 并行

> A 股市场融资融券余额接近 2.5 万亿元，创历史新高，市场杠杆资金活跃度增强。券商面临扩规模与控风险的双重挑战。萨摩耶云科技集团首席经济学家郑磊指出，券商需在扩规模与控风险之间寻求动态平衡，采用精细化的风控手段应对市场变化，并关注风险指标与应急机制，确保业务稳健开展。

近日，A 股市场融资融券余额呈现波动上升态势，并逐步靠近 2.5 万亿元关口，远超历史同期水平且持续创下阶段新高，市场杠杆资金活跃度持续增强。在此背景下，券商面临着 “扩规模” 与 “控风险” 的双重挑战。对此，萨摩耶云科技集团首席经济学家郑磊在接受记者采访时表示，在当前市场环境下，券商的两融业务策略需在 “扩规模” 与 “控风险” 间寻求动态平衡，通过精细化、差异化的风控手段来灵活应对市场变化，同时需持续关注风险指标变化与应急机制执行情况，确保业务的稳健开展。

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