Core Points - China Bank issued a 10-year fixed-rate subordinated capital bond with a total size of 60 billion RMB on September 17, 2020 [1] - The bank announced the completion of the bond issuance on September 21, 2020 [1] - The bond includes an issuer call option, allowing the bank to redeem the bond on the last day of the fifth interest period [1] - As of the announcement date, the bank has exercised its redemption right and fully redeemed the bond [1]

Core Insights - The Chinese banking industry has achieved significant growth and stability during the "14th Five-Year Plan" period, with total assets exceeding 500 trillion yuan, solidifying its position as the world's largest credit market and the second-largest insurance market [3][4] Group 1: Financial Development Achievements - The financial services to the real economy have improved significantly, with annual growth rates for loans to technology-based SMEs, inclusive microfinance, and green loans exceeding 20% [3] - Over the past five years, the banking and insurance sectors have provided an additional 170 trillion yuan in funding to the real economy, with the insurance industry paying out 9 trillion yuan, a 61.7% increase compared to the "13th Five-Year Plan" period [3] - The A-share market has shown resilience, with the Shanghai Composite Index's annualized volatility decreasing by 2.8 percentage points to 15.9% [3] Group 2: Risk Management Enhancements - Key regulatory indicators such as non-performing loans, capital adequacy, and solvency have remained stable and within healthy ranges, with a 40% increase in the disposal of non-performing assets compared to the previous five-year period [4] - The total capital and provisions for risk resistance in the industry have exceeded 50 trillion yuan, with significant improvements in regulatory frameworks and digitalization [4][5] - The number of financing platforms has decreased by over 60%, and the scale of financial debt has dropped by more than 50% since the beginning of 2023 [4] Group 3: Support for High-Quality Economic Development - Financial support for infrastructure projects has been substantial, with over 3.6 billion yuan provided for the Baotou-Huinong high-speed rail project, exemplifying the financial sector's role in supporting the real economy [6] - The balance of infrastructure loans has reached 54.5 trillion yuan, a 62% increase from the end of the "13th Five-Year Plan" [6] - Direct financing through stock and bond markets has totaled 57.5 trillion yuan, with the proportion of direct financing rising to 31.6%, an increase of 2.8 percentage points from the end of the previous five-year period [6] Group 4: Foreign Exchange and Trade Facilitation - The State Administration of Foreign Exchange has advanced deep reforms and high-level openness in the foreign exchange sector, enhancing the efficiency of trade foreign exchange receipts and payments [7] - Since the beginning of the "14th Five-Year Plan," over 5.6 billion transactions have been processed to support cross-border e-commerce and other trade activities [7] - Overall, financial risks remain controllable, and the financial system is operating steadily, providing strong support for high-quality economic development [7]

Core Insights - China Bank successfully assisted the Shenzhen Municipal Government in issuing offshore RMB local government bonds in Hong Kong, marking the fifth consecutive year of leading this initiative, highlighting its role in cross-border financial innovation and the internationalization of the RMB [2][3] Summary by Categories Bond Issuance Details - The total amount of bonds issued was 4 billion RMB, with a 2-year bond of 1.5 billion RMB at a coupon rate of 1.61%, a 5-year bond of 1 billion RMB at 1.80%, and a 10-year bond of 1.5 billion RMB at 2.08% [2] - The issuance attracted significant market interest, with peak order book size reaching 18.67 billion RMB and a final subscription multiple of 4.7 times, indicating strong confidence from international investors in RMB assets and Shenzhen's development prospects [2] Sustainable Development Focus - This issuance introduced a new category of sustainable development bonds themed around the Greater Bay Area, with funds primarily allocated for clean transportation and water governance, reflecting the Shenzhen Municipal Government's forward-looking approach to financial innovation and social responsibility [2] Role of China Bank - Over the past five years, China Bank has been deeply involved in the issuance of offshore RMB local government bonds for the Shenzhen Municipal Government, serving as the global coordinator and green advisor, earning high recognition for its professional capabilities and service efficiency [3] - The bank aims to leverage its global advantages and comprehensive features to support high-level opening-up and high-quality collaborative development in the Guangdong-Hong Kong-Macao Greater Bay Area, contributing to economic prosperity and social progress in both Shenzhen and Hong Kong [3]

Core Points - China Bank issued a 10-year fixed-rate subordinated capital bond with a total size of 60 billion RMB on September 17, 2020 [1] - The bank announced the completion of the bond issuance on September 21, 2020 [1] - The bond includes an issuer call option, allowing the bank to redeem the bond on the last day of the fifth interest period [1] - As of the announcement date, the bank has exercised its redemption right and fully redeemed the bond [1]

Core Points - The Bank of China issued a 10-year fixed-rate subordinated capital bond with a total scale of 60 billion RMB on September 17, 2020 [1] - The bond includes an issuer call option, allowing the issuer to redeem the bond on the last day of the fifth interest period [1] - As of the announcement date, the bank has exercised its redemption right and fully redeemed the bond [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 中國，北京 2025年9月23日 中國銀行股份有限公司 BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） （「本行」） （股份代號：3988） 公告 贖回二級資本債券 2020年9月17日，本行發行了10年期固定利率規模為600億元人民幣的減記型二 級資本債券（「本期債券」），並於2020年9月21日發布了關於二級資本債券發行完 畢的公告。根據本期債券募集說明書相關條款的規定，本期債券設有發行人贖回 權，發行人有權在本期債券第五個計息年度的最後一日（因遇休息日，資金兌付 順延至其後第一個工作日）贖回本期債券。 截至本公告日，本行已行使贖回權，全額贖回了本期債券。 中國銀行股份有限公司 董事會 於本公告日期，本行董事為葛海蛟、張輝、劉進、張勇*、黃秉華*、劉輝*、師永彥*、 樓小惠*、李子民*、讓•路易•埃克拉 # 、喬瓦尼•特里亞 # 、劉曉蕾 # 、張然 # 、高 ...

Core Points - The Shenzhen Financial Regulatory Bureau imposed a fine of 2.95 million yuan on the Shenzhen branch of the Bank of China due to inadequate management of loan, gold leasing, and bill business, as well as imprudent data management in reports [1][2] Group 1: Penalties and Violations - The Bank of China Shenzhen branch has been fined multiple times for various violations, including 12 infractions leading to a fine of 11.3 million yuan in August 2022 [2][3] - Specific penalties included warnings and fines for responsible individuals, with Huang Yicheng fined 60,000 yuan, Huang Jun fined 50,000 yuan, and others fined 50,000 yuan each [2][3] Group 2: Details of Violations - Violations included unauthorized handling of export double factoring, inadequate diligence in investment banking and trade financing, and non-compliance with internal procedures for factoring products [3] - Additional issues involved exceeding the total bank's control in factoring financing, insufficient risk management, discrepancies in regulatory statistical reports, and failure to implement risk prevention measures [3]

Core Insights - The multi-functional free trade account (EF account) in Hainan Free Trade Port has facilitated over 170 billion yuan in cross-border fund flows since its launch on May 6, 2022, covering transactions with 61 countries and regions [2][4]. Group 1: EF Account Overview - The EF account is a crucial financial infrastructure for Hainan Free Trade Port, promoting high-level financial openness and facilitating the free flow of cross-border funds [2]. - The management of funds in the EF account follows the principle of "one line open, two lines under cross-border management," allowing for significant freedom in fund transfers with international financial markets [2][4]. Group 2: Beneficiary Enterprises - Yuan Cheng Technology (Hainan) Co., Ltd., recognized as the first cross-border fund concentration operation center in Danzhou, has seen its cross-border settlement business volume double compared to the previous year, with offshore trading reaching 820 million USD by the end of August 2025 [4]. - Ri Sheng Fuel (Hainan) Co., Ltd., a subsidiary of Ri Sheng Fuel Group, reported an offshore trading settlement volume of 430 million USD by the end of August 2025, benefiting from the EF account and high-level open policies [5]. Group 3: Growth Metrics - As of August 2025, the Bank of China Hainan Branch has opened EF accounts for 61 domestic and foreign market entities, processing 601 transactions totaling 27.929 billion yuan [5]. - The banking system in Hainan has established over 500 EF accounts, with a total transaction volume exceeding 170 billion yuan in just over a year [5].

Market Overview - A-shares and Hong Kong stocks experienced a significant adjustment, with the ChiNext Index initially rising nearly 1.6% before turning negative, and the Shanghai Composite Index dipping below 3,800 points [1][3] - The market saw a high level of selling pressure, with nearly 5,000 stocks declining across the Shanghai and Shenzhen exchanges [3] Investor Behavior - Analysts suggest that the upcoming holiday may lead to increased risk aversion among leveraged funds, prompting a wave of profit-taking [1][3] - The financing balance has reached 2.4 trillion yuan, indicating a substantial scale of leveraged investments, which could trigger market volatility if risk factors arise [3][4] External Market Influences - Recent strong performances in major markets such as the US, Japan, and Europe may attract capital back to those markets, especially since they will remain open during the National Day holiday [4] - The stability of the RMB exchange rate above 7.1 and the USD index around 97 may influence investor sentiment [4] Sector Performance - The banking sector in A-shares showed resilience, with several banks like Nanjing Bank and Qilu Bank seeing gains of nearly 5% and over 3% respectively, while sectors like tourism, real estate, and technology faced significant declines [3][4] - The Hong Kong market also faced declines, with the Hang Seng Index dropping over 1% and the Hang Seng Tech Index falling more than 2% [3] Market Sentiment and Future Outlook - Despite the current market adjustments, the overall risk appetite may not have significantly decreased, as indicated by the performance of long-term government bonds [6] - Analysts believe that there may still be a window of opportunity in the market post-National Day, with potential for a rebound in certain sectors [6][7] - The interplay between domestic fundamentals weakening and improving overseas liquidity could lead to a high-level market fluctuation, with a focus on structural opportunities [6][7]

Group 1 - The core viewpoint of the news is that Bank of China successfully assisted the Shenzhen Municipal Government in issuing offshore RMB local government bonds, marking its fifth consecutive year in this role, highlighting its ongoing exploration and achievements in cross-border financial innovation and RMB internationalization [1][2] - The total amount of bonds issued was 4 billion RMB, with a 2-year bond size of 1.5 billion RMB at a coupon rate of 1.61%, a 5-year bond size of 1 billion RMB at a coupon rate of 1.80%, and a 10-year bond size of 1.5 billion RMB at a coupon rate of 2.08% [1] - The issuance attracted significant market interest, with a peak order book size of 18.67 billion RMB and a final subscription multiple of 4.7 times, reflecting international investors' strong confidence in RMB assets and Shenzhen's high-quality development prospects [1] Group 2 - The issuance introduced a new category of sustainable development bonds themed around the Greater Bay Area, with funds primarily allocated to clean transportation and water governance, showcasing the Shenzhen Municipal Government's forward-looking approach to financial innovation and social responsibility [1] - Bank of China has been deeply involved in the issuance of offshore RMB local government bonds for the Shenzhen Municipal Government over the past five years, serving as both the global coordinator and green advisor, earning high recognition for its professional capabilities and service efficiency [2] - Looking ahead, Bank of China aims to leverage its global advantages and comprehensive features to support high-level opening-up and high-quality collaborative development in the Guangdong-Hong Kong-Macao Greater Bay Area, contributing to the economic prosperity and social progress of both Shenzhen and Hong Kong [2]