智通财经APP获悉，摩根士丹利数据显示，受地缘政治风险及年底风险偏好减弱影响，10月外资流入中 国股市规模放缓至22亿美元。按公司划分，获得增持最多的为中国建设银行(00939)、中国平安 (02318)；减持最多的为阿里巴巴(09988)、腾讯(00700)。 在低配板块中，可选性消费分销与零售的低配幅度进一步加大，而科技与医药生物板块的低配幅度则有 所收窄。 报告表示，10月外资被动型基金流入中国股市32亿美元，主动型基金流出10亿美元。截至10月31日，今 年以来外资多头基金(含主动与被动)累计流入达80亿美元，扭转2024年全年170亿美元流出的局面。 10月A股散户参与度下降，权益类公募基金规模增长放缓；同时，跟踪沪深300指数的外资被动基金出 现明显流出。在超配板块中，主动型基金经理增持最多的为资本货物、保险和材料，同时超配幅度收窄 最多的是媒体娱乐和消费服务。 ...

二、中国建设银行应要求上述核准任职资格人员严格遵守金融监管总局有关监管规定，自中国建设银行 政许可决定作出之日起3个月内到任，并按要求及时报告到任情况。未在上述规定期限内到任的，本批 复文件失效，由决定机关办理行政许可注销手续。 三、中国建设银行应督促上述核准任职资格人员持续学习和掌握经济金融相关法律法规，牢固树立风险 合规意识，熟悉任职岗位职责，忠实勤勉履职。 2025年10月31日，河北金融监管局发布批复称，《中国建设银行股份有限公司河北省分行关于核准赵鹏 任职资格的请示》（建冀报〔2025〕160号）收悉。经审核，现批复如下： 一、核准赵鹏中国建设银行股份有限公司石家庄分行副行长的任职资格。 ...

Group 1: Overall Performance of the Banking Sector - The A-share listed banks have reported a steady performance in their operations for the first three quarters of the year, showcasing resilience and emerging highlights in the banking industry [1] Group 2: Support for Urban-Rural Integration and Regional Development - The banking sector is actively supporting the national strategy for urban-rural integration and regional coordinated development, with financial resources being allocated to key areas [2] - Industrial and Commercial Bank of China (ICBC) has reported a loan balance of nearly 3.5 trillion yuan in the new urbanization sector and over 5 trillion yuan in agricultural loans, with significant investments in poverty alleviation counties [2] - Agricultural Bank of China has increased its loan balance in key rural revitalization counties to 481.2 billion yuan, reflecting a growth rate of 10.21%, and in poverty-stricken counties to 2.52 trillion yuan, with a growth rate of 10.66% [3] Group 3: High-Level Opening Up - The banking sector is contributing to high-level opening up, which is a strategic choice to enhance national security and respond to external uncertainties [4] - Bank of China has been actively involved in the Belt and Road Initiative, maintaining a leading position in the issuance of panda bonds and offshore RMB bonds, with a global custody scale of 4.8 trillion yuan [5] - Construction Bank has enhanced its international competitiveness and supported high-level opening up, with cross-border e-commerce settlement exceeding 400 billion yuan [5] Group 4: Digital Transformation - The banking industry is undergoing a significant digital transformation, which is essential for current financial institutions [6] - Bank of Communications is focusing on strengthening digital infrastructure and enhancing service quality through technology, achieving a monthly active user count of over 53 million for its mobile banking app [7] - Postal Savings Bank is leveraging digital technology to improve operational efficiency and customer experience, enhancing its resource integration and smart-driven capabilities [8]

Market Overview - The Hang Seng Index (HSI) closed at 26,110.96, up by 175.55 points or 0.68% as of November 5, 16:00 Eastern Time [1] - The index reached a high of 26,191.15 and a low of 25,911.87 during the trading session, with a trading volume of 34.24 million [1] Major Blue-Chip Stocks Performance - Most large-cap stocks saw an increase, with HSBC Holdings closing at HKD 110.275, up 1.92% from the previous close [2] - Tencent Holdings closed at HKD 632.153, reflecting a 0.5% increase compared to the Hong Kong market close [2] Stock Price Movements - Tencent Holdings (00700) remained unchanged at HKD 629.000, with an ADR price of HKD 632.153, indicating a rise of HKD 3.153 [3] - Alibaba Group (09988) decreased by HKD 0.500 to HKD 158.500, with an ADR price of HKD 160.176, showing an increase of HKD 1.676 [3] - HSBC Holdings (00005) saw a slight increase of HKD 0.200, closing at HKD 108.200, with an ADR price of HKD 110.275, up HKD 2.075 [3] - Other notable movements include a decrease in stock prices for companies like Xiaomi Group (01810) and AIA Group (01299) [3]

三季度，险资持续加码银行板块。其中，国有大行成为险资布局重点，邮储银行、建设银行获险资大幅 增持，工商银行、农业银行前十大流通股股东名单中首次出现险资身影。此外，部分区域性城农商行也 获得险资加仓。 业内人士认为，银行股的高股息特点与险资需求高度匹配，股息收益能够满足险资的收益需求。随着政 策推动中长期资金入市，险资或成为未来权益市场重要的增量资金，盈利稳健、股息回报较高的银行股 将继续受到险资青睐。 险资加仓国有大行股 三季报显示，多只国有大行股获险资加仓。其中，邮储银行为险资增持数量最多的银行股。邮储银行三 季报显示，三季度，平安人寿增持邮储银行21.89亿股，至23.82亿股，持股比例为3.55%，为邮储银行 的第二大流通股股东。 建设银行获得新华保险加仓。三季度，新华保险旗下"新华人寿保险股份有限公司-传统-普通保险产 品"增持建设银行880万股，至2.10亿股，持股比例为2.19%，为建设银行的第五大流通股股东。 工商银行、农业银行的前十大流通股股东名单中首次出现险资身影。具体来看，截至三季度末，"中国 人寿保险股份有限公司-传统-普通保险产品"新进成为工商银行的第七大流通股股东，持股数量为7.57 ...

创新融资破局—— 首笔福利用地抵押贷款, 破解养老机构"成长烦恼" 在养老产业发展进程中,资金短缺与抵押难问题一直是制约民营养老机构扩大规模、升级服务的"拦路 虎"。尤其是社会福利用地因不符合传统银行抵押要求,让众多拥有优质运营能力的养老机构陷入"有项 目、缺资金"的困境。 日照嘉豪银泰养老服务有限公司作为日照市知名的养老机构,便曾面临这样的难题。该公司是经日照市 民政局批准、高新区社会事业局备案登记的专业养老机构,以居家养老为主,兼具旅居养老和康养养老功 能,下游客户群体稳定,社会认可度高。 目前,该公司已通过自身积累建成并运营一、二期养老项目,计划建设"日照嘉豪书香里老年公寓三期项 目",进一步扩大服务容量。截至项目推进关键阶段,公司已投入大量资金,但仍存在3000万元资金缺口。 由于该项目用地为社会福利用地,不符合多数银行抵押物要求,且企业无其他押品、无法落实第三方保证, 融资之路一度陷入僵局。 建行山东省分行敏锐捕捉这一行业痛点,以政策创新为突破口,开启了一场自上而下的"破壁行动"。经办 行第一时间深入项目现场调研,对照信贷政策完成贷前诊断,经梳理发现,除抵押物不满足要求外,该企业的 运营资质、项目前 ...

Core Points - The Hang Seng Index fell by 16.99 points, a decrease of 0.07%, closing at 25,935.41 points [1] - The Hang Seng China Enterprises Index decreased by 9.97 points, closing at 9,163.24 points, down 0.11% [1] - The Hang Seng Tech Index dropped by 32.44 points, closing at 5,785.85 points, a decline of 0.56% [1] Blue Chip Stocks - Tencent Holdings remained unchanged, closing at 629 HKD [1] - Hong Kong Exchanges and Clearing fell by 0.47%, closing at 423.6 HKD [1] - China Mobile decreased by 0.06%, closing at 86.65 HKD [1] - HSBC Holdings increased by 0.19%, closing at 108.2 HKD [1] Local Hong Kong Stocks - Cheung Kong Holdings rose by 0.05%, closing at 39.52 HKD [1] - Sun Hung Kai Properties fell by 1.42%, closing at 96.85 HKD [1] - Henderson Land Development increased by 0.72%, closing at 28.04 HKD [1] Chinese Financial Stocks - Bank of China rose by 0.22%, closing at 4.53 HKD [1] - China Construction Bank decreased by 0.37%, closing at 8.02 HKD [1] - Industrial and Commercial Bank of China increased by 0.16%, closing at 6.25 HKD [1] - Ping An Insurance fell by 0.97%, closing at 56.25 HKD [1] - China Life Insurance remained unchanged, closing at 24.7 HKD [1] Oil and Petrochemical Stocks - Sinopec fell by 0.71%, closing at 4.2 HKD [1] - PetroChina increased by 0.36%, closing at 8.36 HKD [1] - CNOOC decreased by 0.29%, closing at 20.34 HKD [1]

FF301 致：香港交易及結算所有限公司 公司名稱: 中國建設銀行股份有限公司 呈交日期: 2025年11月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00939 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 240,417,319,880 | RMB | | 1 RMB | | 240,417,319,880 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 240,417,319,880 | RMB | | 1 RMB | | 240,417,319,880 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | ...

Core Viewpoint - The new tax policy on gold, effective from November 1, 2025, is expected to significantly impact gold prices and trading behaviors in the market, leading to increased price volatility and changes in consumer purchasing patterns [1][10]. Group 1: Tax Policy Details - The announcement from the Ministry of Finance and the State Administration of Taxation categorizes gold transactions into "investment use" and "non-investment use," with different tax implications for each [1][4]. - Gold that does not undergo physical delivery will not be affected by the new tax policy, while those that do will face tax changes based on their usage classification [1]. Group 2: Price Fluctuations - Following the announcement, the price of gold at the Shenzhen Shui Bei Gold Trading Center surged from 929 yuan per gram to 991 yuan per gram, an increase of 62 yuan [2][3]. - Major retailers like Chow Tai Fook adjusted their prices significantly, with gold jewelry prices rising from 1198 yuan per gram to 1259 yuan per gram, and investment gold prices from 1058 yuan per gram to 1120 yuan per gram [3][4]. Group 3: Market Reactions - Some banks, including Industrial and Commercial Bank of China and China Construction Bank, temporarily suspended certain gold accumulation services to comply with the new tax regulations and manage potential risks associated with high gold prices [5][7]. - The new policy is expected to encourage market-oriented gold trading and may lead to a shift in trading habits, with a focus on distinguishing between investment and non-investment uses [8][10]. Group 4: Industry Implications - Analysts predict that the price gap between investment gold bars and gold jewelry may widen due to the new tax policy, as costs for non-investment gold may increase significantly [4]. - The new tax framework is anticipated to reshape the gold market's ecosystem, leading to increased concentration in trading activities and a potential shift towards exchange-based transactions for institutional investors [10].

Core Viewpoint - Several banks have adjusted their gold accumulation businesses in response to recent macroeconomic policies and tax changes related to gold transactions, leading to temporary suspensions and subsequent restorations of certain services [1][17]. Group 1: Business Adjustments - On November 3, Industrial and Commercial Bank of China (ICBC) announced the suspension of its "Ruyi Gold Accumulation" business, which includes account openings, active accumulation, new fixed accumulation plans, and physical gold withdrawals [1][3]. - China Construction Bank (CCB) also announced similar suspensions on the same day, citing market volatility and risk management requirements [3][10]. - ICBC later restored its Ruyi Gold Accumulation services on the same evening, confirming that customers could resume various transactions through multiple channels [4][5]. Group 2: Tax Policy Changes - On November 1, the Ministry of Finance and the State Administration of Taxation released an announcement adjusting the value-added tax (VAT) policies related to gold transactions, which took effect on November 1 [1][17]. - The new tax policies specify that transactions involving standard gold at the Shanghai Gold Exchange and Shanghai Futures Exchange will be exempt from VAT under certain conditions, impacting how banks manage their gold accumulation services [17]. Group 3: Market Reactions - Following the announcement of tax policy changes, many banks, including ICBC and CCB, issued risk warnings regarding gold investments, advising customers to be cautious due to increased market volatility [16][18]. - As of now, ICBC's app indicates that physical Ruyi gold bars are temporarily out of stock, reflecting the impact of these adjustments on product availability [7][9]. Group 4: Customer Communication - Banks have been proactive in communicating changes to customers, with ICBC staff confirming the restoration of services and advising clients to stay informed about market fluctuations [5][6]. - Customer service representatives from various banks, including China Merchants Bank, have indicated that adjustments to gold bar prices now include tax costs, aligning with the new tax regulations [15].