Economic Indicators - In August, the Manufacturing Purchasing Managers' Index (PMI) was 49.4%, the Non-Manufacturing Business Activity Index was 50.3%, and the Composite PMI Output Index was 50.5%, showing a slight increase from the previous month [1][2] - The Manufacturing PMI has been below the critical line for five consecutive months, indicating ongoing economic downward pressure [1] Manufacturing Sector - The production index rose to 50.8%, up 0.3 percentage points from last month, while the new orders index increased to 49.5%, up 0.1 percentage points [2] - The recovery in manufacturing is attributed to the easing of adverse weather conditions and the resumption of the third batch of "national subsidies" for durable consumer goods [2][3] - The prices of major raw materials and factory output prices rose to 53.3% and 49.1%, respectively, indicating a continuous improvement in manufacturing market prices [2][3] Service Sector - The Non-Manufacturing Business Activity Index increased to 50.3%, with the service sector index reaching 50.5%, marking a significant recovery [4] - The summer consumption effect has positively impacted sectors such as transportation and hospitality, with related indices remaining above 60.0% [4][5] - The business activity expectation index for the service sector rose to 57.0%, indicating optimism among service enterprises regarding market prospects [5] Construction Sector - The construction sector's business activity index declined due to ongoing rainy weather, although it remains above 53%, indicating sustained growth in infrastructure-related activities [5] - The construction PMI is expected to rise into the expansion zone as weather conditions improve and growth stabilization policies take effect [5]

Core Viewpoint - The six major state-owned banks in China reported stable operating performance and improved asset quality in their 2025 mid-year reports, with a significant focus on supporting technology and other key sectors through credit allocation [1]. Group 1: Credit Allocation and Focus Areas - The six major banks' credit resources are primarily directed towards supporting the "five major financial articles," with a notable emphasis on technology-related sectors [2]. - China Construction Bank (CCB) reported a loan growth of 1.6 trillion yuan in the first half of the year, with technology loans reaching a balance of 5.15 trillion yuan, marking a 16.81% increase from the previous year [2]. - China Bank (BOC) highlighted technology finance as a strategic priority, with technology loans exceeding 30% of corporate loan balances, leading the industry in supporting small and specialized enterprises [2]. Group 2: Performance in Technology Finance - Agricultural Bank of China (ABC) reported a technology loan balance of 4.7 trillion yuan, with over 800 billion yuan added in the first half of the year, achieving a growth rate exceeding 20% [3]. - BOC's green loans, private enterprise loans, and manufacturing loans showed significant growth, with increases of 17.21%, 12.93%, and 12.99% respectively [3]. - CCB's green loan balance reached 5.72 trillion yuan, with a growth of 14.88%, while inclusive small and micro enterprise loans grew by 9.8% to 3.74 trillion yuan [3]. Group 3: Specific Initiatives and Results - Industrial and Commercial Bank of China (ICBC) focused on advanced manufacturing and equipment upgrades, with manufacturing loans exceeding 5.2 trillion yuan, including over 1 trillion yuan for equipment updates [3]. - Postal Savings Bank of China emphasized inclusive finance, with agricultural loans at 2.44 trillion yuan and inclusive small and micro enterprise loans at 1.72 trillion yuan, leading among state-owned banks [4]. - The bank's green loan balance reached 958.639 billion yuan, growing by 11.59%, outpacing the overall loan growth rate [4].

此外，会议同意科威特国民银行加入中阿银联体。这是中阿银联体成立后第一次扩容，进一步扩大了中 阿金融合作的"朋友圈"。 各成员行一致表示，要充分发挥中阿银联体作为中阿合作论坛框架下首个多边金融合作机制的优势作 用，通过建立定期的战略对话机制，加强人才和技术交流，坚定致力于深化中阿务实合作，助推加快构 建面向新时代的中阿命运共同体。 本报讯记者左希报道8月28日，作为第七届中国—阿拉伯国家博览会项下活动之一，中国—阿拉伯国家 银行联合体第三届理事会会议在宁夏回族自治区银川市召开。会议深入落实中阿合作论坛第十届部长级 会议精神，围绕新形势下更好发挥中阿银联体优势，为中阿合作注入更强劲金融动力展开深入研讨。会 议由中阿银联体轮值主席行国家开发银行主办。 国开行表示，中阿银联体成立7年来，秉持"平等相待、相互尊重、互利公平、共同发展"的原则，推动 合作机制不断完善、合作领域不断拓展、合作水平不断提升，在支持中阿经贸合作、促进区域经济发展 等方面发挥了积极作用。下一步，建议中阿银联体充分发挥自身优势，携手深化战略对接、创新服务模 式、深耕绿色金融、强化风险防控、拓展合作网络，为开启中阿命运共同体建设新篇章贡献金融力量。 ...

吴清强调，科学制定和接续实施五年规划，是我们党治国理政一条重要经验，也是中国特色社会主义一 个重要政治优势。"十五五"时期是基本实现社会主义现代化夯实基础、全面发力的关键时期，也是资本 市场迈向高质量发展的关键阶段。近年来，资本市场改革开放持续深化，防风险、强监管和高质量发展 扎实推进，为"十四五"收官、"十五五"开局奠定了良好基础。下一步，中国证监会将深入贯彻党中央、 国务院决策部署，高质量谋划好资本市场贯彻实施"十五五"规划相关工作。持续巩固资本市场回稳向好 势头，以深化投融资综合改革为牵引，加快推进新一轮资本市场改革开放，不断增强市场的吸引力和包 容性，积极倡导长期投资、价值投资、理性投资理念。专家学者、学会会员作为资本市场领域的重要研 究力量，希望大家充分发挥专业优势，用好中国资本市场学会平台，加强资本市场重大战略性前沿性基 础性问题研究。 为认真贯彻习近平总书记有关"十五五"规划编制工作的重要指示精神，科学谋划"十五五"时期资本市场 重点任务举措，近日，中国证监会党委书记、主席吴清在北京召开专题座谈会，与部分高校和行业机构 专家学者、中国资本市场学会会员深入交流，充分听取意见建议。中国证监会党委委员 ...

Core Insights - The article highlights the efforts made by Tianjin's financial system to enhance payment services for foreign visitors in preparation for the Shanghai Cooperation Organization summit in 2025 [1][2][10] Payment Infrastructure Enhancements - Tianjin has upgraded payment environments across 80 subway stations, allowing foreign visitors to use major international cards like Visa and MasterCard for ticket purchases [2] - The city has established 20,000 merchants accepting foreign cards and 4,765 self-service devices for foreign card transactions [1] - A total of 1,570 bank branches support foreign currency exchange, with 65 points specifically for currency exchange [1] Currency Exchange Services - The People's Bank of China (PBOC) in Tianjin has set up dual currency exchange points at the Tianjin Binhai International Airport, offering services for 23 currencies [3] - Over 60 star-rated hotels and key tourist locations have been equipped with foreign currency exchange facilities [3] - A bilingual query map has been launched to help both foreign visitors and locals find currency exchange points and ATMs [3] Technological Innovations - Tianjin banks have introduced apps that support multiple languages and provide features like currency exchange and account management [4] - The city has launched electronic wallet services for visitors from Kazakhstan and Pakistan, expanding the range of payment options available [5] Mobile Payment Growth - In the first half of the year, Tianjin processed 1.11 million mobile payment transactions for foreign visitors, amounting to 140 million yuan, reflecting a year-on-year growth of 78% and 81% respectively [6] Cash Management and Accessibility - Banks in Tianjin have introduced "零钱包" (small change bags) with various denominations to facilitate cash transactions in key areas [7] - The PBOC has allocated 172 billion yuan in cash issuance funds to ensure sufficient cash availability during the summit [8] Customer Service Enhancements - Banks have established dedicated service points for foreign visitors, providing multilingual support and simplifying account opening processes [9][10] - A new simplified account opening process for foreign visitors has been implemented across 244 key bank branches in Tianjin [10]

Core Insights - The six major state-owned banks in China reported stable operational performance and improved asset quality in their 2025 semi-annual reports [1] Group 1: Credit Allocation - The six major banks focused their credit resources on key areas aligned with the financial "five major articles," with significant support directed towards the technology sector [2] - China Construction Bank (CCB) reported a loan growth of 1.6 trillion yuan in the first half of the year, with a technology loan balance reaching 5.15 trillion yuan, a year-on-year increase of 16.81% [3] - China Bank's total loans and advances reached 23.05 trillion yuan, with a 6.74% increase year-on-year, emphasizing technology finance as a strategic priority [3] - Agricultural Bank of China (ABC) reported a technology loan balance of 4.7 trillion yuan, with over 800 billion yuan added in the first half, marking a growth rate exceeding 20% [4] Group 2: Credit Structure Optimization - The credit structure of the six major banks continued to optimize, with significant support for green loans, private enterprise loans, and manufacturing loans, which grew by 17.21%, 12.93%, and 12.99% respectively [5] - CCB's green loan balance reached 5.72 trillion yuan, with a growth of 14.88%, while inclusive small and micro enterprise loans increased by 9.8% [5] - Postal Savings Bank focused on inclusive finance, reporting an agricultural loan balance of 2.44 trillion yuan and inclusive small and micro enterprise loans of 1.72 trillion yuan, both leading among state-owned banks [6] Group 3: Net Interest Margin Management - Despite substantial profit scales, the overall net profit growth rate has slowed, posing a common challenge for the industry [7] - The net interest margin (NIM) has generally narrowed due to factors such as the continuous decline in LPR rates and adjustments in existing mortgage rates [8] - Banks are implementing various measures to stabilize NIM, including enhancing deposit and loan pricing management and expanding non-interest income [8] - CCB's NIM was reported at 1.70%, maintaining a strong level, with expectations for stabilization in the second half of the year [8]

本报讯 记者左希报道 8月29日，交通银行发布2025年半年度经营业绩。截至报告期末，交通银行资 产总额达到15.44万亿元，较上年末增长3.59%。报告期内，实现营业收入1333.68亿元、归属于母公司 股东净利润460.16亿元，同比分别增长0.77%、1.61%。 责任编辑：杨喜亭 截至报告期末，交通银行不良贷款率1.28%，较上年末下降0.03个百分点；拨备覆盖率209.56%，较 上年末上升7.62个百分点。报告期内，累计处置不良贷款378.3亿元，同比增加27.9%，其中实质性清收 203.7亿元，同比增加54.3%。 截至报告期末，交通银行客户贷款余额9.00万亿元，较上年末增长5.18%。科技贷款、普惠小微贷 款、养老产业贷款增幅均高于该行贷款平均增幅。 报告期内，交通银行发挥上海主场创新策源和辐射带动作用，服务和支持上海"五个中心"建设。金 融要素市场创新业务先行先试，实现债券"南向通"一级交易商、做市商、托管清算银行角色的全覆盖。 落地总行自贸区分账核算单元项下首笔上海黄金交易所国际板自营交易，成为全市场首批为保险资金投 资黄金提供服务的银行之一。在上海市成功上线国家医保局医保码一码付业务 ...

Core Insights - Postal Savings Bank of China reported total assets of 18.19 trillion yuan as of June 30, 2025, a year-on-year increase of 6.47% [1] - Total liabilities reached 17.05 trillion yuan, up 6.21% from the end of the previous year [1] - Operating income was 179.446 billion yuan, reflecting a 1.50% year-on-year growth [1] - Net profit stood at 49.415 billion yuan, an increase of 1.08% compared to the previous year [1] Financial Performance - The bank's net interest margin was 1.70%, maintaining a leading position in the industry [1] - Total customer loans amounted to 9.54 trillion yuan, a growth of 6.99% year-on-year [1] - Customer deposits reached 16.11 trillion yuan, increasing by 5.37% from the previous year [1] Revenue Breakdown - Interest income contributed 139.058 billion yuan to the total operating income [1] - Non-interest income showed significant growth, with intermediary business income at 16.918 billion yuan, up 11.59% [1] - Other non-interest income was 23.470 billion yuan, reflecting a 25.16% increase [1] - The proportion of intermediary and other non-interest income in total operating income increased by 0.85 and 2.47 percentage points, respectively [1] Capital and Risk Management - Capital adequacy ratio was 14.57%, and core tier 1 capital adequacy ratio was 10.52%, both showing improvements from the previous year [2] - Non-performing loan ratio remained low at 0.92%, indicating strong asset quality [2] - Provision coverage ratio was 260.35%, demonstrating sufficient risk mitigation capacity [2]

截至报告期末，农业银行县域贷款余额10.77万亿元，新增9164亿元，增速9.3%，高于全行平均水 平2.0个百分点；余额占境内贷款比重40.9%。 截至报告期末，农业银行乡村产业、乡村建设领域贷款余额分别为2.70万亿元、2.44万亿元，增速 分别为21.3%、8.5%，分别高于全行14.0个、1.2个百分点。大力拓展粮食全产业链信贷服务，粮食和重 要农产品保供相关领域贷款余额1.24万亿元，新增2372亿元，增速23.7%。 截至报告期末，农业银行832个脱贫县贷款余额2.48万亿元，增速8.9%，高于全行1.6个百分点。建 立重点帮扶地区"一县一档案"工作机制和分层分类帮扶机制，160个国家乡村振兴重点帮扶县贷款余额 4758亿元，增速9.0%，高于全行1.7个百分点。"三区三州"地区贷款余额超4797亿元，新增389亿元，增 速8.8%。 责任编辑：杨喜亭 报告期内，农业银行净利润、营业收入保持"双正增长"，增速分别较一季度提升0.7个、0.4个百分 点。其中，净利润1399亿元，同比增长2.53%；营业收入3698亿元，同比增长0.72%。资本充足率 17.45%。 截至报告期末，农业银行不良贷款率 ...

值得一提的是，上半年，建设银行手续费及佣金净收入652.18亿元，同比增长4.02%；净利息收益 率1.40%，年化平均资产回报率0.77%，年化加权平均净资产收益率10.08%，资本充足率19.51%，核心 指标均衡协调，保持可比同业领先。 本报讯 记者余嘉欣报道 8月29日，中国建设银行发布2025年半年度报告。半年报显示，上半年，建 设银行实现经营收入3859.05亿元，同比增长2.95%；实现拨备前利润2901.03亿元，同比增长3.37%；实 现净利润1626.38亿元。截至6月末，该行拨备覆盖率为239.40%，较上年末提升5.8个百分点。 截至6月末，建设银行资产总额44.43万亿元，较上年末增长9.52%。其中，发放贷款总额27.44万亿 元，较上年末增长6.20%；金融投资11.77万亿元，较上年末增长10.17%。贷款和债券余额占总资产比重 近九成，资产负债结构持续优化。负债总额40.85万亿元，较上年末增长9.73%。 此外，上半年，建设银行持续加强全面成本管理，投入产出质效不断提升，成本收入比23.72%， 较上年同期下降0.43个百分点。截至6月末，建设银行不良贷款率1.33%，较上 ...