低开低走后探底回升，截止午盘沪指上涨0.38%，深成指下跌0.05%，创业板指下跌0.52%。两市合计超 3000只个股下跌，合计成交额1.11万亿。 旅游酒店、食品、零售、纺织服装等泛消费方向走弱，其中水羊股份、南京商旅、益客食品等多股大 跌。美容护理、旅游及酒店、食品加工等板块紧随其后。 银行板块逆势走强，其中中国银行、工商银行均续创历史新高。锂电池产业链表现活跃，其中百川股份 等多股涨停。光刻胶概念延续强势，其中国风新材2连板。 消息面：中金公司、东兴证券、信达证券发布关于筹划重大资产重组的停牌公告，三家公司正在筹划由 中金公司通过向东兴证券、信达证券全体A股换股股东发行A股股票的方式换股吸收合并东兴证券、信 达证券。美联储观察表示美联储12月降息25个基点的概率为32.7%。 欢迎您在评论中分享自己的看法，大家一起学习和讨论。 ...

党的二十届四中全会提出，加快农业农村现代化，扎实推进乡村全面振兴。围绕服务国家"乡村振兴"战 略部署，工商银行山东省分行通过搭建"兴农撮合"平台，提供涵盖"产销对接、供需撮合、招商引资、 融资支持"等一揽子综合服务，探索金融赋能乡村产业振兴的创新实践。截至2025年10月末，累计组织 并参与"政策宣讲、产品推介、供需撮合"等各类兴农撮合活动300余场次，服务超4.7万户农业经营主 体。 生态赋能：融合政银企农，打造兴农撮合新范式 为助力乡村产业高质量发展，工商银行山东省分行通过"兴农撮合"平台建立政银企农融合互通的渠道， 精准匹配产业需求，促成土地、技术、资本与市场的有效链接，助力特色农产品走出田间、走向全国。 跨境服务方面，工商银行山东省分行充分把握第八届中国国际进口博览会全球机遇，在11月7日"工享农 萃 食荟环球"食品农产品对接会期间，精心筛选省内优质中小企业赴沪参展，广泛接触近30家国际供应 商与行业伙伴，专业团队为企业开拓国际市场全程护航，组织与法国、加纳等国家境外客户现场开展商 务洽谈。精准帮扶方面，建立定点帮扶地区四川南江县180余特色产品供给端产品信息库，推动与大型 连锁商超、餐饮企业、食品加 ...

金融助力中国企 "走出去" 报告 COPYRIGHT STAFF 出品人 第一财经 | 中国银行 总策划 第一财经 杨宇东 中国银行上海市分行 长三角金融研究院 张兴荣 主编 于舰 视觉总监 戴喆骏 第□财经 0 4 8 % 8 % F CHINA 创意总监 王方宏 报告编撰 刘昕｜纪飞峰｜龚一泓 视觉创意 于海蓝 | 景毅 本报告由第一财经撰写、出品。 所有文字和研究成果属第一财经及中国银行所 有,其他人不得任意转载、盗用。第一财经和中 国银行拥有最终决定权。 地址:上海市南京西路651号 BRIDGING SEAS AND MOUNTAINS A Research Report on Financial Support for Chinese Enterprises Going Global 29PART-A 时代浪潮 新时期中国企业出海的 挑战和路径 1.中国着眼高质量"走出去", 形成对外开放新优势 P05 2.中国企业积极探索出海新路径 __ P07 2-1. 地缘冲突给中国企业出海带来巨大挑战 ___ P07 2-2. 中国企业积极应对并调整出海策略。 P10 跨城| | 海 金融助力中国企业"走 ...

Core Viewpoint - The banking sector is experiencing a significant inflow of funds, indicating a potential new cycle of stable profitability, driven by a combination of favorable policies, improving performance, and changing market conditions [1][2][3]. Group 1: Market Performance - On November 20, the banking sector saw a net inflow of 2.16 billion yuan, leading all sectors in the Shenwan first-level industry classification [1]. - The overall trading volume for banking stocks reached 42.51 billion yuan, with main funds flowing in at 23.30 billion yuan and flowing out at 21.14 billion yuan [1]. - High dividend yields in the banking sector are attracting funds as a reliable "safe haven" amid market volatility [1]. Group 2: Policy Environment - The central bank aims to maintain relatively loose social financing conditions and strengthen the execution and transmission of monetary policy [2]. - There is an expectation of a reasonable slowdown in loan growth due to structural changes in social financing and economic development [2]. - Structural monetary policy tools are being implemented to support key areas of the economy, enhancing the banking sector's ability to operate steadily [2]. Group 3: Performance Improvement - By Q3 2025, commercial banks' net profit increased by 2% year-on-year, with large commercial banks and city commercial banks seeing profit growth of 4% and 9%, respectively [2]. - The optimization of credit structure and consumer policy support are expected to further improve banks' asset quality and profitability [2]. Group 4: Future Outlook - Analysts believe the banking sector is entering a new cycle of stable profitability, with long-term capital still actively entering the market [3]. - A favorable macro environment, including potential improvements in PPI and long-term interest rates, could enhance the banking sector's profitability [3]. - The strategy of combining leading banks with smaller banks is expected to elevate valuations, with specific banks like Industrial Bank and CITIC Bank showing potential for price elasticity [3]. Group 5: Valuation and Investment Appeal - The banking sector's valuation remains low historically, making it attractive for medium to long-term investments [4]. - High dividend assets represented by state-owned banks offer significant value compared to risk-free rates [4]. - Recommended stocks include CITIC Bank, Construction Bank, Agricultural Bank, and others, highlighting their investment appeal [4].

智通财经APP获悉，香港联交所最新资料显示，11月20日，成都高速(01785)股东将股票由中国工商银行 亚洲转入德意志银行，转仓市值1.04亿港元，占比10.94%。 成都高速截至2025年9月30日止9个月的第三季度业绩显示，该集团期内取得营业收入21.95亿元，同比 增长1.73%;归母净利润4.67亿元，同比减少5.31%。 ...

成都高速截至2025年9月30日止9个月的第三季度业绩显示，该集团期内取得营业收入21.95亿元，同比 增长1.73%;归母净利润4.67亿元，同比减少5.31%。 智通财经APP获悉，香港联交所最新资料显示，11月20日，成都高速(01785)股东将股票由中国工商银行 亚洲转入德意志银行，转仓市值1.04亿港元，占比10.94%。 ...

智通财经APP获悉，周四，美股三大指数集体下跌。恒生指数ADR下跌，按比例计算，收报25425.45点，较香港收市跌410.12或1.59%。 | .HSIADR 恒生指数ADR | | --- | | 25425.45 ↓ -410.12 -1.59% - 收盘价 11/20 16:00 美东 | | 三月日日 中 | | 最高价 25922.90 开盘价 25760.04 成交量 5613.7万 | | 最低价 25425.45 昨收价 25835.57 平均价 25674.17 | | 52周最高 27275.90上 涨 -- 本 智能 | | 52周最低 18856.77 下 跌 -- 振 幅 1.93% | | A | | 800000 恒生指数 25835.57 +4.92 +0.02% | 大型蓝筹股集体下跌，汇丰控股收报105.18港元，较香港收市跌2.25%；腾讯控股收报605.843港元，较香港收市跌2.44%。 | 序号 | 名称 | 港股代码 | 最新价 | 涨跌额 | 涨跌幅 | ADR代码 | ADR换算价(HKD) | 较 较港股升跌 | | --- | --- | --- | ...

11月20日，A股市场延续"二八分化"态势。银行、地产等权重板块继续领跑，中国银行、工商银行股价 创出历史新高；以AI主线为代表的科技股则高开低走，固态电池等前期热点题材也表现乏力，拖累三 大股指震荡收跌。 ◎记者 费天元 截至收盘，上证指数报3931.05点，跌0.40%；深证成指报12980.82点，跌0.76%；创业板指报3042.34 点，跌1.12%。沪深两市成交额17081亿元，较前一日缩量177亿元。全市场超3800只个股下跌。 银行股本周持续发力，成为维稳大盘的关键因素。中国银行股价连续第二日创出历史新高，昨日收涨 4%，市值站上2万亿元；工商银行同样创历史新高，收盘涨0.49%，最新市值达29475亿元，逼近3万亿 元关口；建设银行、邮储银行昨日涨超3%。 开源证券2026年度银行行业投资策略报告表示，在交易"高股息、防御性"的同时，也要关注银行增长动 力与长期价值。一方面，银行的业绩稳定性、股息吸引力及分红持续性带来"红利价值"，"反内卷"下净 息差或筑底回升带动扩表提质；另一方面，银行兼具强大的财富管理能力，金融市场投资能力强且调节 能力佳。建议底仓配置大型国有银行，弹性配置具备细分领域 ...

Core Viewpoint - The A-share market has seen a significant increase in bank stocks, with both Bank of China and Industrial and Commercial Bank of China reaching historical highs on November 20, 2023 [1] Group 1: Stock Performance - Bank of China rose over 4%, while Postal Savings Bank and China Construction Bank increased by over 3% [1] - Other banks such as Minsheng Bank, Huaxia Bank, Everbright Bank, Nanjing Bank, and Bank of Communications saw gains exceeding 2%, and Shanghai Pudong Development Bank and Industrial and Commercial Bank rose over 1% [1] - Year-to-date, Bank of China has accumulated a 19% increase, and Industrial and Commercial Bank has risen by 26% [1] Group 2: Market Position - Industrial and Commercial Bank has surpassed Agricultural Bank of China in market capitalization, reclaiming the top position [1]

Core Viewpoint - The collaboration between China UnionPay and Industrial and Commercial Bank of China marks a significant step in enhancing cross-border trade and promoting the internationalization of the Renminbi through the launch of multi-currency debit and credit cards in Turkey [1][3]. Group 1: Partnership and Product Launch - China UnionPay and Industrial and Commercial Bank of China have launched multi-currency debit and credit cards in Turkey, which support transactions in Renminbi, Turkish Lira, British Pound, US Dollar, and Euro [1][3]. - The issuance of these cards aims to provide local residents with secure and efficient global payment options while facilitating bilateral trade between China and Turkey [1][3]. Group 2: Strategic Importance - This initiative is seen as a milestone in UnionPay's international business development and a response to China's high-level opening-up strategy [3]. - The launch of these cards is expected to enhance the convenience of cross-border payments for foreign nationals visiting China and improve financial connectivity [3][4]. Group 3: Future Plans - UnionPay plans to continue deepening collaboration with local partners in Turkey to enhance cross-border payment services and support the Belt and Road Initiative and Turkey's "Middle Corridor" initiative [4]. - The company has established a comprehensive localized payment service network in Turkey over nearly two decades, achieving widespread acceptance among local merchants and ATMs [4].