Group 1 - The core index, the Chinese Hong Kong Stock Connect Preferred 50 Index (CESP50), experienced a decline of 0.98%, closing at 3086.14 points with a trading volume of 62.037 billion [1] - Over the past month, the CESP50 index has increased by 2.28%, by 7.44% over the last three months, and has risen 23.06% year-to-date [1] - The CESP50 index is compiled by the China Securities Index Co., Ltd. and aims to reflect the overall performance of the top 50 blue-chip securities listed on the Hong Kong Stock Exchange [1] Group 2 - The top ten holdings of the CESP50 index include Tencent Holdings (10.61%), HSBC Holdings (10.25%), Alibaba-W (9.71%), and others, indicating a concentration in major companies [1] - The index's holdings are entirely composed of stocks from the Hong Kong Stock Exchange, with financials making up 39.91%, consumer discretionary 23.36%, and communication services 17.08% among other sectors [2]

数据统计显示，中华交易服务中国香港内地指数近一个月上涨1.47%，近三个月上涨5.41%，年至今上 涨19.71%。 从中华交易服务中国香港内地指数持仓样本的行业来看，可选消费占比30.40%、通信服务占比 23.13%、金融占比22.31%、信息技术占比10.50%、能源占比6.03%、医药卫生占比2.95%、房地产占比 2.36%、主要消费占比1.13%、工业占比0.66%、原材料占比0.53%。 据了解，中华交易服务中国跨境指数系列为一系列证券价格指数，由中华交易服务中国 120 指数(中华 120)、中华交易服务中国 A80 指数(中华 A80)、中华交易服务中国香港内地指数(中华香港内地指数)以 及中华交易服务中国 280 指数(中华 280)组成，以综合反映沪深港三地上市中国大、中盘证券的整体表 现。该指数以2004年12月31日为基日，以2000.0点为基点。 从指数持仓来看，中华交易服务中国香港内地指数十大权重分别为：腾讯控股（10.76%）、阿里巴巴- W（9.85%）、建设银行（7.97%）、小米集团-W（7.77%）、美团-W（6.16%）、中国移动 （4.48%）、工商银行（4.46% ...

【编者按】随着中国经济与全球经济发展日益融合，以及中国资本市场开放程度不断提升，跨境财富管 理迎来黄金时代！ 此外，效率需求凸显。客户对开户、交易、资金划转的便捷性和时效性要求极高。这正是我行今年优化 南向通线上开户办理流程的直接驱动力。我们观察到，线上化、无纸化、快速审批成为客户的核心诉求 之一。 中国基金报和深圳市财富管理协会共创"跨境财富谈"栏目，采访境内外财富管理知名机构，助力投资者 更全面了解跨境财富管理面临的机遇和风险，洞悉金融机构全球资产配置最新策略。 8月4日，香港金融管理局总裁余伟文撰文表示，"跨境理财通2.0"优化措施自实施以来，市场反应良 好，截至今年6月底，参与的个人投资者超过16万人，与"跨境理财通1.0"相比录得超过120%的增幅；南 向通方面，香港参与机构的投资者持仓市值超过160亿元人民币，与"跨境理财通1.0"相比录得两倍的增 幅。 "跨境理财通"2.0启动以来，投资者参与度为何会显著提升？券商成为新一类试点机构，面对新的竞争 对手，银行会如何应对？投资者应如何选择"跨境理财通"产品？就此，中国基金报记者独家专访了工行 深圳市分行相关负责人。 该负责人表示，"跨境理财通"日益 ...

【编者按】随着中国经济与全球经济发展日益融合，以及中国资本市场开放程度不断提升，跨境财富管 理迎来黄金时代！ 力推线上开户，满足客户 线上化、无纸化、快速审批诉求 该负责人告诉记者，"跨境理财通"2.0启动以来，工行深圳市分行客户需求显著增长且不断深化。 一方面，参与门槛优化效应明显。南向通个人投资者准入标准下调，惠及并吸引了更广泛的客群，特别 是年轻白领、中小企业主等。 此外，效率需求凸显。客户对开户、交易、资金划转的便捷性和时效性要求极高。这正是我行今年优化 南向通线上开户办理流程的直接驱动力。我们观察到，线上化、无纸化、快速审批成为客户的核心诉求 之一。 中国基金报和深圳市财富管理协会共创"跨境财富谈"栏目，采访境内外财富管理知名机构，助力投资者 更全面了解跨境财富管理面临的机遇和风险，洞悉金融机构全球资产配置最新策略。 8月4日，香港金融管理局总裁余伟文撰文表示，"跨境理财通2.0"优化措施自实施以来，市场反应良 好，截至今年6月底，参与的个人投资者超过16万人，与"跨境理财通1.0"相比录得超过120%的增幅；南 向通方面，香港参与机构的投资者持仓市值超过160亿元人民币，与"跨境理财通1.0"相比 ...

Group 1: Company Developments - JD Logistics has established a supply chain technology company in Fuzhou with a registered capital of 5 million RMB, focusing on software development and domestic cargo transportation [1] - Douyin E-commerce has launched a Safety and Trust Center, aiming to combat illegal blind box marketing in live streams, resulting in over 4,000 live stream suspensions and the removal of more than 1,000 accounts since 2025 [2] - Tata Consultancy Services is laying off over 12,000 employees, indicating a significant shift in the $283 billion outsourcing industry driven by artificial intelligence [3] - Kingsoft CEO stated that policy guidance is crucial for software legalization, with WPS's global monthly active devices exceeding 630 million and personal paid users reaching 41.7 million [4] - Huitongda Network has signed a comprehensive cooperation agreement with Alibaba Cloud to explore innovations in AI and digital solutions [5] - A new renewable energy company has been established in Tangshan with a registered capital of 500 million RMB, focusing on power generation and renewable energy services [6] - Meta is collaborating with PIMCO and Blue Owl to raise $29 billion for data center expansion in Louisiana, with PIMCO handling approximately $26 billion in debt financing [7] - CureVac has reached a settlement with BioNTech and Pfizer regarding COVID-19 vaccine patents, receiving a total of $740 million in payments [8] - Haon Technology has established a low-altitude technology company in Shenzhen, focusing on AI and intelligent drone manufacturing [9] - XPeng Motors is set to launch its first super electric vehicle model, the XPeng X9, in the fourth quarter [10] Group 2: Industry Trends - The steel industry in China is undergoing significant digital transformation, with 95.1% of steel companies implementing smart upgrades and achieving higher production efficiency [11] - The Swiss government has expressed concerns over the impact of a 39% tariff on Swiss exports to the U.S., which affects about 18% of its export goods [12][13]

Group 1 - The core viewpoint of the news is that the Industrial and Commercial Bank of China Kunming Branch is actively promoting the "Dianpin Hui" service platform to inject financial support into local enterprises, particularly in the flower industry [1][2] - The bank has established a leadership team and a flexible professional group to quickly develop a comprehensive financial service plan for the "Dianpin Hui" platform [1] - The bank collaborates with local street offices to form a "Flower Farmers Home Promotion Team," providing one-on-one guidance to flower growers and facilitating their entry into the platform [1] Group 2 - The "Dianpin Hui" platform enables a new path for inclusive finance by converting transaction data into credit and then into capital, effectively supporting the Yunnan flower industry [2] - Flower farmers in Luliang County have successfully applied for the bank's "Planting e-loan" with a maximum single loan amount of 300,000 yuan, alleviating production funding pressure [2] - A flower e-commerce company connected to the bank's "Rong e Ju" platform saw a 40% increase in transaction settlement efficiency and secured a 2.6 million yuan "Tax Loan" for expanding its distribution system, resulting in a 35% increase in annual sales [2] Group 3 - The bank not only provides convenient financial services to platform-entered enterprises but also regularly engages with employees to offer exclusive financial benefits, supporting stable business development [2] - The promotion of the "Dianpin Hui" platform will continue, with plans to integrate "finance + taxation" models into more agricultural product categories, contributing to the digital transformation of agriculture and rural revitalization in Kunming and Yunnan [2]

二、中国工商银行重庆自由贸易试验区分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，自中国工商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。 2025年8月1日，重庆金融监管局发布批复称，《中国工商银行重庆市分行关于黄雪莲任职资格核准的请 示》（工银渝发〔2025〕69号）收悉。经审核，现批复如下： 一、核准黄雪莲中国工商银行重庆自由贸易试验区分行副行长的任职资格。 三、中国工商银行重庆自由贸易试验区分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。 ...

Group 1 - Agricultural Bank of China (ABC) achieved a historic high stock price of 6.62 CNY per share on August 6, 2023, with a market capitalization of 2.11 trillion CNY, surpassing Industrial and Commercial Bank of China (ICBC) at 2.09 trillion CNY [1][2] - On August 7, ABC's market capitalization increased to 2.14 trillion CNY, while ICBC's market capitalization was reported at 2.11 trillion CNY [4][6] - The total market capitalization of ABC's A and H shares on August 6 was 2.26 trillion CNY, which is lower than ICBC's total market capitalization of 2.57 trillion CNY [4][6] Group 2 - Among state-owned banks, ABC has the highest proportion of A-shares at approximately 91%, while China Construction Bank has the lowest at about 8% [7][9] - The A-share market capitalization of major banks as of August 7, 2023, shows ABC leading with 2.14 trillion CNY, followed by ICBC at 2.11 trillion CNY, and Bank of China at 1.36 trillion CNY [3][4] Group 3 - In the first half of 2023, bank stocks, including ABC, saw significant price increases, with major banks like ABC, ICBC, and China Construction Bank all experiencing double-digit growth exceeding 12% [5][6] - Institutional investors, particularly insurance funds, have been actively purchasing bank stocks, with China Ping An increasing its holdings in ABC's H-shares [6][10] Group 4 - The dividend distribution for A-share listed banks totaled 6.33 billion CNY in 2024, with state-owned banks accounting for 66.49% of this total [12] - ICBC led the dividend payouts among major banks with 109.77 billion CNY, followed by China Construction Bank with 100.75 billion CNY, and ABC with 84.66 billion CNY [12]

随着信息技术的飞速发展，作为金融体系核心的银行业正加速推进数据基础设施的国产化替代。在"数 字中国"政策引领下，信创改造项目正密集落地，无论是国有大行还是区域性银行，都力图实现从底层 基础设施到上层应用的全面自主可控。 值得一提的是，不少区域性银行也在信创改造进程中表现积极，对数据国产化替代的需求同样迫切。 8月6日，江苏昆山农商银行发布关于信创服务器内存扩容采购项目供应商征集公告，计划采购80根 64GB内存用于扩容鲲鹏服务器。同日，河南农商银行发布"灵镜"图智能计算平台项目中标结果公告。 此前几个月，该行就多个信息科技基础设施相关项目进行了招标，包括信贷AI智能双录系统、分布式 微服务技术及工程平台、移动展业平台、实时数据采集平台等。 数据来源：银行公告，李颖超/制表 稍早前的6月14日，苏州农商银行基于"全栈国产化+分布式架构"的核心系统全面投产上线。至此，该行 也成为江苏省首家通过自主研发完成核心系统信创升级的区域性银行。 "随着国家信创战略的深入实施，越来越多银行进行了核心系统的信创改造与升级，其中包括不少中小 银行。"华东地区一位金融科技从业人士向证券时报记者表示，继大型银行率先进行信创改造之后， ...

证券研究报告 | 行业简评报告 2025 年 08 月 07 日 银行市值的几个口径及险资举牌比例释疑 银行市值是经营基本面和估值（经营预期）的综合体现，不仅资本市场关注， 银行管理层甚至相关政策部门也重视，所以需要严谨的计算口径。不少上市银 行同时在 AH 股上市，同时险资增持银行事件增加，市场对银行市值计算和举 牌口径存在误解，本篇报告尝试进行梳理释疑。 银行市值的几个口径。严格来说，对于 AH 股上市银行，有 5 个市值口径。（1） A 股总市值（A 股股价*总股本数）；（2）H 股总市值（H 股股价*总股本数）； （3）A 股股本市值（A 股股价*A 股股本数）；（4）H 股股本市值（H 股股价 *H 股股本数）；（5）股权公平市场价值（A 股股本市值+H 股股本市值）。因 为 AH 股估值差异较大，同时各家银行 AH 股本比例也不同，投资分析视角下， 会更多关注特定市场的总市值，也就是口径 1 和 2，部分时候会关注股权公平市 场价值（口径 5）。至于口径 3 和 4，由于不同银行特定市场股本比例不同，很 少进行关注对比。最新 AH 上市银行股本比例和 5 个口径市值见表 1。 险资举牌银行比例释疑 ...