登录新浪财经APP 搜索【信披】查看更多考评等级 合规是金融行业的立身之本，为业务稳健前行保驾护航。近日，东方财富证券下辖河南分公司及营业部开展"合规护航，全员聚力"主题活动。活动聚焦执业 行为、廉洁从业、反洗钱及适当性四大模块，通过主题展示、原创作品、知识抢答等多元形式，为辖内合规文化建设注入动力，推动合规意识逐步从"管理 层传导"向"全员自觉践行"过渡。 线上线下同步召开启动会现场 原创巧思赋合规，精品创作拓维度 本次活动，各营业部联动产出12个原创作品，其中廉洁从业类5个、反洗钱类7个，兼具创新性与实用性。许昌许都路证券营业部《心意》以"清水遇墨"的视 觉隐喻传递廉洁内核，帮助员工快速领会 "坚守廉洁底线" 的深层意义；新乡金穗大道证券营业部"豫剧人物话反洗钱"主题实物产品，融合本土文化与合规 科普，助力趣味互动与知识学习相结合；开封黄河大街证券营业部原创歌曲《廉洁才是避风港》以虚拟演唱的反差效应强化记忆点。此外，情景剧视频、主 题图文等配套作品，通过还原职场场景、拆解条款要点，为合规传播提供支撑。 "展'四防'作品，筑安全高墙"作品展示环节现场氛围热烈，评审团结合作品主题契合度、内容质量、表现效果及创 ...

Core Insights - The People's Bank of China has guided the Industrial and Commercial Bank of China (ICBC) to launch the first digital RMB smart enterprise park in Hebei Province, introducing a new direction for digital financial services through a nationwide first "Aerospace Information" series digital RMB hard wallet [1][2] Group 1 - The project is based on the successful launch of the "Xiong'an No. 1" satellite by Hongqing Technology, addressing the visitor management needs of the satellite intelligent manufacturing pilot base [1] - The digital RMB application integrates payment, identity verification, and access control through a super SIM card and hard wallet, enhancing user experience [2] - The scenario allows employees and visitors to use the super SIM card for various services, including access verification, dining, and self-service vending, while also supporting "tap-to-pay" in over 300 cities [2] Group 2 - For visitors without a super SIM card, ICBC's Xiong'an Innovation Branch can issue a themed digital RMB hard wallet on-site, enabling quick recharge via WeChat or the digital RMB app [2] - The hard wallet can be used across various consumption points in Xiong'an New Area, ensuring compatibility with Apple, Android, and Harmony operating systems [2] - The implementation of anonymous digital identity verification technology enhances visitor privacy while achieving a seamless payment experience [2]

Group 1 - The core viewpoint of the articles highlights the innovative efforts of Zhejiang Transportation Group's subsidiary, ZheShang ZhongTuo Group, in expanding its domestic and international business, particularly through the contributions of its young employees [1][2][3] - The company has established a global business presence in over 80 countries and regions, focusing on new service models such as photovoltaic services and industrial service complexes [1] - The "Treading Waves Youth" team actively engages in international trade risk assessment and market opportunity research, supporting the company's internationalization strategy [1] Group 2 - A new team, the "Chasing Light Youth," has been formed to focus on green energy, aligning with national "dual carbon" goals and energy structure transformation trends [2] - The team launched the "ZhongTuo GuangYing" household photovoltaic brand, providing comprehensive rooftop solar solutions, benefiting over 60,000 households and generating a total power output of 1.3 billion kWh, which equates to a reduction of 1.25 million tons of carbon emissions [2] - The company has innovatively developed the "industrial service complex" model, which integrates various services to enhance supply chain efficiency and has been successfully implemented in provinces such as Shanxi, Jiangsu, and Hebei [2][3] Group 3 - The industrial service complex model has improved labor efficiency by nearly four times compared to traditional warehousing methods, significantly reducing logistics and management costs [3] - The company aims to create a standardized, information-based, and replicable operational system for the industrial service complex, further enhancing the resilience of the supply chain [3] - The company plans to support young talent through practical platforms and incentive mechanisms, fostering continuous innovation in global market expansion, green energy development, and supply chain service enhancement [3]

Core Insights - The article discusses the implementation and impact of the Sci-Tech Bond policy in Wuhan's East Lake High-tech Zone, emphasizing its role in supporting technology industry development through financial mechanisms [1][2]. Group 1: Sci-Tech Bond Issuance - In the past six months, nine companies in the East Lake area have issued a total of 14 Sci-Tech Bonds, accounting for 33% of the total issuers in Hubei Province, with a total issuance scale of 9.74 billion yuan [1]. - 57% of the issuers are technology companies, with funds primarily allocated for research and development of optoelectronic devices, high-end equipment manufacturing, and mergers and acquisitions [1]. Group 2: Addressing Industry Challenges - The design of the Sci-Tech Bonds, with maturities of 3-5 years (up to 15 years), addresses the "mismatch of terms" issue, providing stable funding support for long-term technology development [2]. - The use of risk-sharing tools and low-cost loans from the central bank has significantly reduced the default risk, keeping the bond interest rates around 2%, which is lower than traditional financing costs [2]. - The bonds enhance the flexibility of fund usage, requiring at least 50% of the raised funds from equity investment institutions to support technological innovation [2]. Group 3: Governance and Future Plans - Companies must improve internal management and governance to meet the information disclosure requirements of the Sci-Tech Bonds, fostering a virtuous cycle of financing and development [3]. - The East Lake High-tech Zone plans to deepen the Sci-Tech Bond services by 2026, aiming to resolve financing challenges and build a deeply integrated ecosystem of technology, capital, and industry [3].

Core Viewpoint - The People's Bank of China has introduced an action plan to strengthen the management and service system of digital RMB, with a full implementation set for January 1, 2026, marking a transition from digital cash to digital deposit currency [1] Group 1: Digital RMB Implementation - The new generation of digital RMB will be fully implemented by January 1, 2026, transitioning to a digital deposit currency era [1] - The digital RMB ecosystem aims to achieve interconnectivity and break down institutional barriers, significantly reducing business performance costs and enhancing fund utilization efficiency [1] Group 2: Smart Contracts and Technological Impact - Smart contract technology, supported by the digital RMB smart contract ecosystem service platform, provides standardized access for payment and clearing [1] - The application of smart contracts in digital currency can serve as an effective tool for government policy implementation, allowing for precise and efficient targeted support [1] - The use of smart contracts in credit can ensure funds are allocated for specific purposes, such as R&D, while blockchain technology enables real-time monitoring of enterprise data, reducing information asymmetry risks [1]

Core Viewpoint - The article emphasizes the commitment of the company to sustainable long-term value creation for investors, aligning with the recently released "Action Plan for Promoting High-Quality Development of Public Funds" which aims to reshape the industry ecosystem and prioritize investor interests [1] Group 1: Risk Management Framework - The company has established a comprehensive risk management system that balances daily management and crisis management, ensuring timely resolution of various investment risks [2] - A "three lines of defense" risk control system has been implemented, where investment personnel are responsible for the first line of defense, risk control and compliance personnel for the second, and audit personnel for the third, enhancing risk awareness and prevention [2] - The company has adopted a "3+3" management model focusing on market risk, credit risk, and liquidity risk, along with three risk assurance measures including new investment product evaluation and performance attribution [4] Group 2: Professional Capability - The company adheres to the philosophy that "risk management creates value," enhancing its professional risk management capabilities and improving the foresight of risk management processes [3] - The company has developed a robust investment risk management system that covers the entire investment risk lifecycle, from pre-investment to post-investment [3] Group 3: Technological Advancement - The company has been advancing towards a systematic, quantitative, and intelligent risk management approach since 2016, significantly improving risk management efficiency [5][6] - An intelligent risk control system has been developed, integrating applications, models, and data, and enhancing the company's risk management capabilities [6] Group 4: Collaborative Synergy - The company strengthens risk collaboration with its parent bank, China Construction Bank, leveraging shared resources and enhancing risk prediction capabilities [7] - Strategic cooperation with its second-largest shareholder, a major U.S. financial services firm, has been deepened to enhance professional capabilities in investment risk management [7] Group 5: Commitment to High-Quality Development - The company actively responds to the call for high-quality development in the industry, focusing on reforming its investment research system and optimizing product innovation [8][9] - Efforts are being made to enhance compliance culture and risk management capabilities, ensuring a robust risk management framework that protects investor assets [9][10]

Core Viewpoint - The expansion of the "Jiangsu sector" in the capital market is highlighted by the listing of Xinguangyi Electronics Co., Ltd. on the Shenzhen Stock Exchange, marking a significant contribution to Jiangsu's economic strength and its effective use of capital markets to empower the real economy [1] Group 1: Company Overview - Xinguangyi was established in 2004 in Suzhou and specializes in the research, production, and sales of high-performance special functional materials [1] - The company has broken the technological monopoly of foreign enterprises in fields such as anti-overflow special films and strong resistance special films, becoming a leading enterprise in the domestic market with the highest market share [1] Group 2: Industry Development - Jiangsu has cultivated a "1650" industrial system, focusing on the integration of technological and industrial innovation, and has established a tiered structure of enterprises from small and medium-sized technology companies to listed companies [2] - As of now, Jiangsu has nurtured 22,000 provincial-level specialized and innovative small enterprises and 3,022 national "little giant" enterprises, which serve as important sources for future listings [2] Group 3: Capital Market Initiatives - Jiangsu has proactively engaged with domestic stock exchanges to establish comprehensive cooperation mechanisms, enhancing the ability of various enterprises to utilize multi-level capital markets [2] - In December 2024, Jiangsu signed strategic cooperation agreements with major stock exchanges to support venture capital roadshows, nurture listing candidates, and improve financing tools for local governments and enterprises [2] Group 4: Future Outlook - The number of newly listed companies and those on the "New Third Board" in Jiangsu continues to rank among the top in the country, indicating an ongoing optimization of the sector structure and improved financing efficiency [3] - Jiangsu aims to strengthen departmental collaboration and enhance services throughout the lifecycle of listed companies, promoting both quantity and quality in the capital market [3]

Core Viewpoint - The speech emphasizes the need for coordination between fiscal and monetary policies to address medium-term economic fluctuations and ensure sustainable growth [3][4][7]. Group 1: Economic Theories and Adjustments - The traditional New Keynesian theory suggests that the economy can achieve macro balance in the medium to long term, but short-term frictions can lead to welfare losses, necessitating counter-cyclical monetary policy [3]. - There is a call for reflection and adjustment of this framework, particularly emphasizing the importance of medium-term fluctuations and the need for cross-cycle adjustments, which may require greater intensity than counter-cyclical adjustments [4]. Group 2: Medium-term Influencing Factors - Financial cycles are identified as a medium-term force, with the current phase being a downward trend, leading to a relative demand shortage compared to supply [5]. - Economies of scale are highlighted as another medium-term influencing factor, with the green industry and AI being significant contributors. The green industry benefits from economies of scale, while fossil energy typically does not [5][6]. - AI's impact on economic growth is debated, with estimates suggesting it could contribute an additional 0.8-1.3 percentage points to annual growth over the next decade, while other analyses predict a more modest increase of 0.07 percentage points [6]. Group 3: Geoeconomic Issues - The shift in China's trade partners towards the "Belt and Road" initiative and the increasing share of direct investment in these countries are noted as significant geoeconomic trends [7]. - Both economies of scale and geoeconomic factors contribute to the relative demand shortage, necessitating coordinated fiscal and monetary policies to boost domestic demand and ensure sustainable medium-term growth [7].

转自：新华财经 谷澍 （2025年12月6日） 谢谢晓慧副会长的介绍。 尊敬的各位来宾，首先借这个机会，感谢各位领导、各位同仁对农业银行的帮助和支持！ 党的二十届四中全会审议通过的"十五五"规划建议，8次提及"人工智能"，指出要全面实施"人工智能+"行动，全方位赋能千行百业。今年8月，国务院印发 的《关于深入实施"人工智能+"行动的意见》明确要通过"三步走"，不断提升新一代智能终端、智能体等应用普及率。金融业应主动融入"人工智能+"发展进 程，当好提升AI应用普惠性的践行者，推动技术创新与业务应用深度融合。当前，人工智能技术迭代演进速度非常快，下一步往哪个方向发展、发展成什 么样，难以形成统一的共识。但普惠是人类始终应当坚持的价值取向。今天我想就提升AI应用的普惠性，谈几点体会。 提升AI应用普惠性的路径，我认为有四方面问题需要考虑。 在12月6日举行的2025中国金融学会学术年会暨中国金融论坛年会上，中国金融学会理事会副会长，中国农业银行董事长谷澍发表"提升AI应用普惠性的若干 思考"主题演讲。 全文如下： 提升AI应用普惠性的若干思考 —在中国金融学会学术年会暨中国金融论坛年会上的发言 从发展趋势看，随着 ...

Core Viewpoint - The presentation by the chief strategist of CICC highlights the evolution of the international monetary system and the potential for the renminbi to become a central currency, driven by various economic and institutional forces [3][4][8]. Group 1: Historical Context of Currency - Currency exhibits a natural order characterized by a "center-periphery" structure, with the US dollar currently in a central position following the breakdown of the Bretton Woods system [3]. - The stability of this order is evident, as historical central currencies like the pound and dollar have maintained their status for over a century [4]. - The transition of central currencies is not fixed, with historical shifts from the Spanish dollar to the Dutch guilder, then to the pound, and finally to the dollar [4]. Group 2: Forces Driving Currency Evolution - The first force is economic strength, where a larger economy with significant trade volume is more likely to become a central currency [5]. - The second force is the robustness of financial markets, which are essential for establishing trust in a currency on the international stage [5]. - The third force is institutional credibility, such as property rights protection, which underpins trust in a central currency [6]. - The fourth force is technological advancement, which has historically transformed currency forms and payment systems [6]. - A debated fifth force is military power, which some argue can protect but not create currency credibility [6]. Group 3: Stability of Central Currencies - The strong network effects of these forces create inertia, making established currencies difficult to displace [7]. - These forces are interrelated, enhancing each other and raising barriers to entry for new central currencies [7]. - Existing central currencies can leverage their influence through institutional arrangements to maintain their status [7]. Group 4: Current Context for Renminbi - The current economic conditions suggest a potential shift, as China has surpassed the US in purchasing power parity (PPP) and has the largest trade volume [9]. - The US dollar's status as a safe asset is showing signs of strain, with changes in asset correlations indicating a weakening of its traditional role [9]. - The need for the renminbi to float more freely is emphasized, as this would facilitate its use in international trade and finance [10]. Group 5: Recommendations for Renminbi Internationalization - The development of both onshore and offshore financial markets is crucial, focusing on liquidity coordination and cross-border financial product innovation [10]. - Increasing the openness of China's capital account is necessary to enhance investor confidence and facilitate international transactions [11].