---
title: "兩融餘額逼近 2.5 萬億元關口 券商 “擴規模” 與 “控風險” 並行"
description: "A 股市場融資融券餘額接近 2.5 萬億元，創歷史新高，市場槓桿資金活躍度增強。券商面臨擴規模與控風險的雙重挑戰。薩摩耶雲科技集團首席經濟學家鄭磊指出，券商需在擴規模與控風險之間尋求動態平衡，採用精細化的風控手段應對市場變化，並關注風險指標與應急機制，確保業務穩健開展。"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/262314305.md"
published_at: "2025-10-22T23:30:11.000Z"
---

# 兩融餘額逼近 2.5 萬億元關口 券商 “擴規模” 與 “控風險” 並行

> A 股市場融資融券餘額接近 2.5 萬億元，創歷史新高，市場槓桿資金活躍度增強。券商面臨擴規模與控風險的雙重挑戰。薩摩耶雲科技集團首席經濟學家鄭磊指出，券商需在擴規模與控風險之間尋求動態平衡，採用精細化的風控手段應對市場變化，並關注風險指標與應急機制，確保業務穩健開展。

近日，A 股市場融資融券餘額呈現波動上升態勢，並逐步靠近 2.5 萬億元關口，遠超歷史同期水平且持續創下階段新高，市場槓桿資金活躍度持續增強。在此背景下，券商面臨着 “擴規模” 與 “控風險” 的雙重挑戰。對此，薩摩耶雲科技集團首席經濟學家鄭磊在接受記者採訪時表示，在當前市場環境下，券商的兩融業務策略需在 “擴規模” 與 “控風險” 間尋求動態平衡，通過精細化、差異化的風控手段來靈活應對市場變化，同時需持續關注風險指標變化與應急機制執行情況，確保業務的穩健開展。

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