Core Viewpoint - Zhejiang Commercial Bank (浙商银行) announced a long-term cleaning operation for inactive personal bank accounts to ensure the safety of customer funds and improve service quality [1] Group 1: Account Cleaning Policy - The bank will clean personal accounts that have not had any active transactions (such as deposits, withdrawals, or transfers) for over one year as of December 31, 2025, and have a balance of 100 yuan or less [1] - Accounts that fall within this cleaning scope must complete at least one transaction by February 12, 2026, to confirm their retention; otherwise, the account will have its payment functions suspended [1] - During the cleaning period, the bank will not request sensitive information such as passwords or verification codes via SMS or phone calls, advising customers to protect their account information [1] Group 2: Customer Support - Customers with questions or suggestions can contact the bank's national service hotline at 95527 or visit local branches for assistance [2]

Core Viewpoint - The Dongguan Financial Regulatory Bureau has approved Liang Yongjian's appointment as the Deputy General Manager of the Dongguan Branch of Zheshang Bank, emphasizing compliance with regulatory requirements and the importance of risk awareness in financial operations [1] Group 1 - The approval of Liang Yongjian's appointment is officially documented in the notice from the Dongguan Financial Regulatory Bureau [1] - Zheshang Bank is required to ensure that Liang Yongjian adheres to the relevant regulatory provisions and reports his appointment status within 10 days after taking office [1] - The bank must also encourage continuous learning of economic and financial laws and regulations for the appointed personnel, highlighting the need for a strong risk compliance awareness [1]

Group 1 - The company will suspend large subscriptions, regular investment, and transfer-in services for the Ping An CSI Satellite Industry Index Fund starting from January 13, 2026, with a maximum single-day subscription limit of 1 million yuan per account [1] - The company reserves the right to reject any subscription requests exceeding the limit unless it deems that such requests will not affect the fund's stable operation [1] - The resumption of large subscriptions and related services will be announced separately at a later date [1] Group 2 - Starting from January 13, 2026, Zheshang Bank will be added as a sales institution for the company's funds, allowing investors to open accounts, subscribe, redeem, and perform other transactions through the bank [3] - Investors can enjoy fee discounts when subscribing, regularly investing, or converting funds through Zheshang Bank, with the bank having the discretion to set the discount rates [5] - The company will not set discount limits on subscription fees, regular investment fees, or conversion fees, and any changes to the discount activities will be based on Zheshang Bank's announcements [5]

Core Viewpoint - Zhejiang Zheshang Bank (601916) announced a scheduled maintenance of its computer system from January 20, 2026, 00:00 to 03:30, which will affect various electronic banking services [1] Group 1: Service Impact - During the maintenance period, online banking, mobile banking, WeChat banking, and other electronic channels will experience service interruptions [1] - Services affected include ATM cash withdrawals, POS transactions, personal debit and credit card operations, interbank transfers, and various self-service functions [1] - Notifications sent via SMS or mobile banking app may experience delays during this time [1] Group 2: Customer Support - The bank will strive to minimize the downtime and encourages customers to contact its 24-hour customer service hotline at 95527 for any inquiries during the maintenance [1] - The bank apologizes for any inconvenience caused by the service interruptions [1]

Core Viewpoint - Zhejiang Zheshang Bank has undergone a significant executive reshuffle, marking a strategic transition as it prepares for the next phase of its "Deepening Zhejiang" strategy, which is crucial for maintaining its competitive edge in the local banking market [1][3][5]. Executive Changes - The bank's chairman Chen Haiqiang has officially stepped down as president, with Lu Linhua appointed as the new president and nominated as an executive director candidate [1]. - Several other executives, including vice president Lin Jingran and assistant presidents Wang Chaoming and Hou Bo, have also resigned, while Zhou Weixin and Pan Huafeng have been promoted to vice presidents [1][2]. Strategic Context - The timing of these changes suggests a conclusion to the previous "three leaders" adjustment, as the bank prepares for a new strategic cycle starting in 2025 [2][5]. - The restructuring aims to align the executive team with the bank's strategic upgrades, focusing on efficiency and effectiveness by reducing redundant positions [6][7]. Talent Selection - The new leadership team is characterized by a younger demographic, with an average age below 50, reflecting a shift towards a more dynamic management style [11]. - Chen Haiqiang's background in the bank's core management and Lu Linhua's experience in financial regulation and local operations are seen as assets for the bank's strategic continuity and local market penetration [7][10]. Competitive Landscape - Zhejiang Zheshang Bank faces increasing competition from city commercial banks and rural commercial banks in its home market, which is impacting its market share [13][15]. - Financial data indicates that while the bank has shown strong growth in several metrics, it is still lagging behind competitors like Ningbo Bank and Hangzhou Bank in profitability and market performance [16][17]. Strategic Initiatives - The bank's new strategy emphasizes "deepening" its presence in Zhejiang, with initiatives aimed at enhancing local financial services and supporting regional economic development [18]. - The bank has reported significant growth in its inclusive loan balance and has exceeded its annual targets for serving individual businesses, indicating early success from the strategic adjustments [18]. Future Challenges - The new leadership, particularly Lu Linhua, will need to effectively integrate the flexible, localized approaches of the rural banking system with the standardized practices of a national bank to avoid internal friction [19].

Core Viewpoint - The chief economist of Zheshang Bank, Yin Jianfeng, expressed optimism about Chinese assets in 2026, suggesting that strategic emerging industries are maturing and traditional sectors are recovering from various shocks [1] Group 1: Historical Context - Historically, years of the horse in the Chinese zodiac have coincided with economic stabilization: 1978 marked the beginning of reform and opening up; 1990 was the lowest point after turmoil; 2002 was the first year after joining the WTO, leading to a decade of growth; and 2014 was on the eve of a new investment cycle [1] - The year 2026 is expected to follow this trend, indicating a potentially favorable economic environment [1] Group 2: Industry Insights - Traditional industries are gradually recovering from impacts, while cyclical industries may enter a new cycle [1] - Strategic emerging industries are transitioning from infancy to strength, with new growth drivers capable of revitalizing older sectors [1] Group 3: Investment Opportunities - Investment opportunities are identified in cyclical sectors, particularly in energy cycles, with oil, petrochemicals, and coal industries closely aligned with the London crude oil price index [1] - Additionally, the non-ferrous metals and chemical products sectors are noted for their strong correlation with the London copper price [1]

Group 1 - The 2026 China Chief Economist Forum Annual Meeting will be held in Shanghai on January 10-11, with the theme "Chess in the Middle Game: Building a Strong Nation" [1][4] - Yin Jianfeng, Chief Economist of Zheshang Bank, expressed a less pessimistic outlook for the real estate market in 2026, particularly in first-tier and core second-tier cities [3][6] - In the top ten cities, the number of housing transactions in first-tier cities has stabilized since last year, with sales dropping from 320,000 units two years ago to only 260,000 units now, indicating a reduction in inventory [3][6] Group 2 - The stock market outlook is also not as bleak, as historical trends show that every Year of the Horse has been a stabilizing year since the reform and opening up [3][6] - Traditional industries are gradually recovering from various shocks, while cyclical industries may enter a new cycle, and strategic emerging industries are transitioning from infancy to strength, with new momentum capable of driving old momentum [3][6]

Core Viewpoint - The article emphasizes the importance of "stabilizing foreign trade and foreign investment" as a crucial support for economic stability, highlighting Zhejiang Commercial Bank's proactive approach in aligning with national strategies to enhance international circulation and promote trade innovation [1][4]. Group 1: Cross-Border Financial Services - Zhejiang Commercial Bank has introduced five innovative cross-border financial services, including global accounts and settlement, integrated liquidity financing, one-stop investment and financing services, immersive foreign exchange trading, and scenario-based foreign trade services, to support foreign trade enterprises in international markets [1][8]. - During the 14th Five-Year Plan period, the bank provided over $17,000 billion in cross-border settlement services and over $7,000 billion in exchange rate hedging services, along with a cross-border financing balance exceeding 150 billion yuan [3]. Group 2: Addressing Challenges for SMEs - A survey indicated that small and medium-sized foreign trade enterprises are increasingly seeking efficient and low-cost payment settlement processes due to frequent export trade transactions, particularly in new foreign trade models involving numerous small transactions [3]. - The bank has responded to the needs of enterprises expanding into emerging markets like ASEAN, the Middle East, and Africa by launching innovative services such as global collection and cross-border easy collection, which enhance collection efficiency and reduce costs [3][5]. Group 3: Cross-Border Asset Pool Innovation - Zhejiang Commercial Bank has developed a "cross-border asset pool" to facilitate efficient credit connection between domestic and overseas subsidiaries, addressing the financing challenges faced by companies like YN Technology, which has expanded internationally but struggled with local financing due to insufficient asset and credit history [5][6]. - The bank provided 38 million yuan in funding support to YN Technology's overseas subsidiary through this innovative service, demonstrating the effectiveness of the cross-border asset pool in enhancing business processing efficiency [6][7]. Group 4: Comprehensive Support for Global Operations - The bank's comprehensive cross-border financial service capabilities are designed to meet the full chain of foreign trade enterprise needs, offering a one-stop, immersive support system that includes specialized products for settlement and financing [8]. - The services are interconnected, forming a financial backbone that supports enterprises in their global operations, with a focus on customer-centric approaches and alignment with national strategies for international trade development [8].

Core Insights - The digital transformation is crucial for the banking industry, with a significant focus on the restructuring of digital talent, particularly the Chief Information Officers (CIOs) [1][2] Group 1: Changes in CIO Positions - In 2025, several major banks experienced changes in their technology leadership, with the CIOs of China Construction Bank (CCB) and Bank of China (BOC) resigning [2][4] - CCB's former CIO, Jin Panshi, resigned due to age reasons after serving for four years [2][3] - BOC's former CIO, Meng Qian, also resigned for age reasons after a 38-year tenure, during which she held multiple senior positions [4][6] - The Industrial and Commercial Bank of China (ICBC) also saw its technology leader, CTO Lv Zhongtao, leave at the end of 2025 [7][8] Group 2: New Appointments and Trends - In 2025, 21 new CIOs were appointed, primarily in small and medium-sized banks, with many being external hires [10][11] - Notable new CIOs include Gong Weihua at Huaxia Bank and Wang Fenghui at Xiamen International Bank, both of whom were brought in from outside the banking sector [11][12] - The trend indicates a shift towards external recruitment for CIO positions, with 48% of the new appointments being external hires [16] Group 3: Recruitment Trends in Smaller Banks - Many small and medium-sized banks have publicly announced CIO recruitment in 2025, including Xiamen International Bank and Zhengzhou Bank [18][19] - Recruitment criteria often include age limits and specific experience requirements, such as a minimum of six years in information technology and four years in senior management roles [18][20] - The trend reflects a growing emphasis on digital leadership within smaller banks, as they seek to enhance their technological capabilities [18][19]

Core Viewpoint - The article emphasizes the importance of stabilizing foreign trade and foreign investment as key supports for economic stability, highlighting Zhejiang Commercial Bank's proactive measures to align with national strategies for expanding international circulation and promoting trade innovation [1]. Group 1: Cross-Border Financial Services - Zhejiang Commercial Bank has introduced five major cross-border financial services, including global accounts and settlement, integrated liquidity financing, one-stop investment and financing services, immersive foreign exchange trading, and scenario-based new foreign trade services, to support foreign trade enterprises in international markets [1]. - During the 14th Five-Year Plan period, Zhejiang Commercial Bank provided over $17,000 million in cross-border settlement services and over $7,000 million in foreign exchange risk hedging services, along with a cross-border financing balance exceeding 150 billion yuan [1]. Group 2: Addressing Challenges for SMEs - A survey targeting small and medium-sized foreign trade enterprises indicates a growing demand for efficient and low-cost payment settlement processes, particularly for new foreign trade models involving numerous small transactions [2]. - Zhejiang Commercial Bank has responded to the challenges faced by enterprises expanding into emerging markets like ASEAN, the Middle East, and Africa by launching innovative services such as global collection and cross-border easy collection, which enhance collection efficiency and reduce costs [2]. Group 3: Cross-Border Asset Pool Innovation - The case of YN Technology, which has expanded its international operations, illustrates the need for efficient and low-cost financing support as it faces challenges in obtaining financing for its overseas subsidiaries due to their short establishment time and lack of credit history [3][5]. - Zhejiang Commercial Bank provided 38 million yuan in funding support to YN Technology's overseas subsidiary through an innovative "cross-border asset pool" service, which allows for efficient credit connection between the parent company and its subsidiaries [5]. Group 4: Comprehensive Support for Global Operations - Zhejiang Commercial Bank has developed a systematic cross-border financial service capability to address the full chain of foreign trade enterprise needs, offering a one-stop, immersive support system [7]. - The five major services are interconnected, enhancing the overall efficiency of fund utilization for enterprises and aligning with the national strategy to promote trade innovation and international circulation [7].