Market Overview - The Hang Seng Index (HSI) closed at 24,793.53, down by 113.28 points or 0.45% on August 11 [1] - The index reached a high of 24,931.26 and a low of 24,760.85 during the trading session [1] Major Blue-Chip Stocks - HSBC Holdings closed at HKD 100.791, up by 0.84% compared to the Hong Kong close [2] - Tencent Holdings closed at HKD 558.587, down by 0.43% compared to the Hong Kong close [2] ADR Performance - Tencent Holdings (ADR) decreased by 2.413 HKD, or 0.43%, with an ADR price of USD 71.160 [3] - Alibaba Group (ADR) fell by 2.088 HKD, or 1.76%, with an ADR price of USD 118.640 [3] - HSBC Holdings (ADR) increased by 0.841 HKD, or 0.84%, with an ADR price of USD 64.200 [3] - Other notable movements include: - Xiaomi Group (ADR) down by 0.483 HKD, or 0.95% [3] - AIA Group down by 0.185 HKD, or 0.25% [3] - Meituan down by 0.983 HKD, or 0.82% [3] - BYD Company down by 0.740 HKD, or 0.66% [3]

● 本报记者 连润 今年5月，中国人民银行、中国证监会联合发布关于支持发行科技创新债券有关事宜的公告。公告发布 后，科技创新债市场快速扩容，发行只数、发行规模较去年同期激增，政策落地效果显著。 民企发债规模有所增加 在推进债券市场"科技板"建设过程中，科技创新债从发行主体结构、发行期限、发行利率等方面，呈现 出新的特点。 从发行主体结构看，科技创新债的发行主体虽仍以国有企业为主，但民营企业发行科技创新债的数量与 规模正在逐渐增多。数据显示，在684只科技创新债中，中央企业发行197只、地方国企发行360只、民 营企业发行94只、外资企业发行1只，其他的科技创新债均为公众企业、集体企业等发行。其中，民营 企业科技创新债发行规模为842.40亿元；（下转A02版） （上接A01版）在去年同期，民营企业发行41只科创债（包含科创票据），规模为306.88亿元。 公告发布以来，科技创新债发行量同比激增，政策效应在数据上得以体现。Wind数据显示，截至8月11 日，全市场自5月7日公告发布以来已累计成功发行科技创新债684只，发行规模高达8806亿元。去年同 期，新发科创债（包含科创票据）数量为326只、发行规模为32 ...

2025年8月8日，交通银行（601328）发布公告称，尊敬的客户，您好！为提升服务质效，交通银行已将 消金管家代收付业务/系统升级为金融机构收付管家业务/系统。该业务/系统升级后，您原已签订且有效 的消金管家代收付服务合作协议、代扣授权签约仍有效，交通银行将继续为您提供服务。如您有疑问， 可咨询客服热线。 ...

如您需了解后续扣款安排，请您联系深圳前海微众银行股份有限公司、浙江网商银行股份有限公司。如 您对收付管家业务有疑问，可咨询客服热线。 2025年8月8日，交通银行（601328）发布公告称，尊敬的客户，您好！由于深圳前海微众银行股份有限 公司、浙江网商银行股份有限公司（下称合作方）与交通银行收付管家（原消金管家）业务合作将于 2025年8月15日到期，您在收付管家业务项下的代扣将同步解除，后续扣款将由合作方通过交通银行其 他方式，或合作方提供的其他方式为您办理。 ...

Core Viewpoint - The new policy for technology innovation bonds (科创债) has led to a significant increase in issuance, with a total of 883.16 billion yuan in new bonds over the past three months, indicating a strong market response to regulatory support [1][2]. Group 1: Issuance Scale and Participants - The total issuance scale of technology innovation bonds reached 883.16 billion yuan, with financial institutions accounting for nearly 36% of this amount [1][2]. - Among the financial institutions, banks led the issuance with 230.3 billion yuan, followed by 38 securities companies that collectively issued 54.1 billion yuan [2]. - The participation of small and medium-sized institutions and private enterprises has increased, with various smaller banks and private equity firms also issuing technology innovation bonds [2]. Group 2: Characteristics of New Bonds - The average coupon rate for newly issued technology innovation bonds was 1.9282%, which is notably low compared to other credit bonds of similar ratings [3]. - A significant portion of the new bonds has a maturity of over three years, with 76.23% of the total issuance (673.22 billion yuan) falling into this category [3]. - The majority of the issuers are central and local state-owned enterprises, with 203 bonds issued by central state-owned enterprises and 369 by local state-owned enterprises [3].

近日，中国人民银行联合国家金融监督管理总局、中国证券监督管理委员会研究起草了《金融机构 客户尽职调查和客户身份资料及交易记录保存管理办法（征求意见稿）》，向社会公开征求意见。 业内专家认为，制定《管理办法》是落实反洗钱法和迎接国际评估的必然之举。2024年11月修订通 过的《中华人民共和国反洗钱法》已经于今年1月1日起正式施行，该法明确了基于风险开展客户尽职调 查的原则，要求金融机构开展客户尽职调查应当根据客户特征和交易活动的性质、风险状况进行。 交通银行内控合规部副总经理戴浩然介绍，《管理办法》关于基于风险开展客户尽职调查的要求， 除落实反洗钱法、适应国内实践需要外，也与反洗钱国际标准和国际通行做法相一致。今年底，我国将 迎来新一轮反洗钱国际评估。该评估是衡量一国反洗钱水平的重要标尺，评估结果关乎我国扩大金融行 业高水平对外开放的工作大局。 "在全球化背景下，中国积极履行国际反洗钱义务，反映了监管对金融安全与稳定的重视。"博通咨 询首席分析师王蓬博认为，《管理办法》为金融机构提供了操作指南，有助于提升整个行业的风险管理 水平，也有助于加强金融机构的合规性，减少洗钱、恐怖融资等非法活动的风险，进一步维护金融市 ...

Core Viewpoint - The issuance of Total Loss-Absorbing Capacity (TLAC) bonds by China's globally systemically important banks (G-SIBs) is a proactive measure to enhance their loss absorption capabilities and align with international regulatory standards [1][3][6] Group 1: TLAC Bond Issuance - Three out of five G-SIBs in China have issued TLAC non-capital bonds to improve their total loss-absorbing capacity [1] - The first bank to issue TLAC bonds in 2025 was Bank of Communications, followed by Agricultural Bank of China and Bank of China, with respective issuance amounts of RMB 300 billion, RMB 500 billion, and RMB 400 billion [2] - The approved issuance limits for the banks are RMB 600 billion for Industrial and Commercial Bank of China, RMB 1800 billion for Agricultural Bank of China, RMB 1500 billion for Bank of China, and RMB 3000 billion for Bank of Communications [2] Group 2: Regulatory Framework and Compliance - The People's Bank of China, along with other regulatory bodies, established a TLAC regulatory framework in October 2021, requiring G-SIBs to meet specific external TLAC ratio requirements by early 2025 and 2028 [4] - Banks are encouraged to develop detailed timelines and strategies for achieving TLAC compliance, alongside optimizing capital management [4][5] Group 3: Market Impact and Strategic Importance - The issuance of TLAC bonds is seen as a milestone for China's financial system, enhancing the banks' capital and risk management capabilities while increasing the variety of credit bonds available in the domestic market [5] - Achieving TLAC compliance is viewed as essential for the international development of the five major banks, reflecting their commitment to global financial standards and enhancing China's banking sector's international reputation [6]

Core Viewpoint - The financial system in Mudanjiang is actively promoting the revitalization of revolutionary old areas by integrating the spirit of the Anti-Japanese War into modern financial services, aiming to support local development through targeted financial initiatives [1][2]. Financial System's Mission - Mudanjiang, a key area for the Northeast Anti-Japanese United Army, has seen the establishment of the "Red Financial Service Alliance" led by the People's Bank of China, involving 21 banking institutions and 6 insurance companies to support the revitalization of revolutionary old areas [2]. - As of June 2025, the loan balance for revolutionary old areas in Mudanjiang reached 29.8 billion yuan, a year-on-year increase of 15.7% [2]. Service Innovation - The introduction of the "Red Cultural Tourism Loan" by the Postal Savings Bank of Mudanjiang provides 5 million yuan in low-interest loans to support local red tourism projects, significantly boosting local tourism and income [3]. - Agricultural Bank of Mudanjiang has implemented a supply chain financial model for rice cultivation, issuing loans totaling 800 million yuan to support the establishment of high-standard rice planting bases [4]. Inclusive Finance - The establishment of 136 rural financial service stations and 582 cash withdrawal machines in revolutionary old areas has improved access to financial services [6]. - The Longjiang Bank has provided 300 million yuan in subsidized loans to support over 1,200 entrepreneurial projects, creating more than 5,000 jobs [6]. Party Building and Development Synergy - Financial institutions in Mudanjiang are leveraging party building to enhance community engagement and support local development, including organizing financial knowledge seminars and providing targeted financial services for key projects [7]. - The China Bank has allocated 1.8 billion yuan in loans to support major projects in revolutionary old areas, demonstrating the commitment to local economic development [7]. Conclusion - The integration of financial resources with the spirit of the Anti-Japanese War is revitalizing Mudanjiang, fostering a path towards common prosperity and sustainable development [8].

7月26日至28日，2025世界人工智能大会暨人工智能全球治理高级别会议在上海举办。同时，与大 会配套的展览将较大会延时一天，展至29日。 据悉，本届大会围绕"智能时代 同球共济"为主题，设置会议论坛、展览展示、赛事评奖、应用体 验、创新孵化五大板块，全面展现AI技术前沿、产业趋势与全球治理的最新实践。本次大会展览面积 首次突破7万平方米，吸引了800余家企业参展，展出3000余项前沿展品，规模创历届之最。 作为全球人工智能领域规模最大、专业度最高、影响力最强的顶级盛会之一，本次大会也吸引了众 多金融机构参展。 "金融机构要把握历史机遇，迎接现实挑战，积极融入人工智能行业生态，联合政府部门、科技企 业、科研院校等战略伙伴，加强开放合作，推动资源共享与能力共建，为做好金融'五篇大文章'、推进 金融高质量发展注入智慧动能。"7月27日，交通银行董事长任德奇在出席2025世界人工智能大会"数智 驱动，同创共赢：AI+金融赋能高质量发展"论坛并致辞时表示。 这场技术和新质生产力的盛宴中，澎湃的智能浪潮扑面而来。众多金融机构的参与，让更多人看到 了来自金融行业预见未来的力量。 精心布展 积极展示最新技术成果 在上海世博 ...

作为我国历史最悠久、国际化程度最高的银行之一，交通银行在过去十余年中，积极响应并深度参 与我国共建"一带一路"倡议，充分发挥自身在金融领域的专业优势，为"一带一路"共建国家和地区的经 济发展提供了全方位的金融支持与服务。交通银行以国际化视野和创新精神，不断拓展跨境金融业务， 助力"一带一路"建设，推动了中国与共建国家的经贸合作与互联互通，成为支持"一带一路"建设的重要 金融力量。 在过去的十多年间，交通银行是如何为"一带一路"建设提供强有力金融支持的？未来，该行又将如 何继续深化"一带一路"建设金融服务，推动中国与共建国家的经贸合作迈向更高水平，为共建开放、包 容、普惠的国际经济合作新格局贡献更多力量？就上述问题，《金融时报》记者近日采访了交通银行国 际部/离岸中心总经理郑智勇。 《金融时报》记者：在支持"一带一路"项目建设的过程中，交通银行扮演了哪些角色？ 郑智勇：交通银行深刻把握金融工作的政治性、人民性，有力发挥"金融血脉"作用，为"一带一 路"项目建设提供更加优质、多元的金融服务。 一是多元金融服务的提供者。交通银行依托境内境外双轮驱动，充分发挥"本外币、离在岸、境内 外"一体化经营优势，打造集贷款融资 ...