Core Insights - The "2025 Hurun China 500" report highlights TSMC as the highest-valued private enterprise in China, with a valuation increase of 3.5 trillion RMB, reaching 10.5 trillion RMB [1][4] - Tencent follows as the second highest, with a valuation growth of 1.9 trillion RMB, totaling 5.3 trillion RMB [1][4] - ByteDance ranks third, increasing its value by 1.8 trillion RMB to 3.4 trillion RMB [1][4] - Xiaomi enters the top ten for the first time, with a valuation increase of 357 billion RMB, reaching 1 trillion RMB [1][4] Top Ten Private Enterprises - TSMC: Valuation of 105,000 million RMB, growth of 50% [2][5] - Tencent: Valuation of 53,300 million RMB, growth of 56% [2][5] - ByteDance: Valuation of 34,000 million RMB, growth of 109% [2][5] - Alibaba: Valuation of 27,000 million RMB, growth of 75% [2][5] - CATL: Valuation of 18,600 million RMB, growth of 59% [2][5] - Pinduoduo: Valuation of 13,200 million RMB, growth of 16% [2][5] - Ping An Insurance: Valuation of 10,500 million RMB, decline of 15% [2][5] - Xiaomi: Valuation of 10,000 million RMB, growth of 56% [2][5] - BYD: Valuation of 8,720 million RMB, growth of 10% [2][5] - Huawei: Valuation of 8,500 million RMB, growth of 25% [2][5] Top Ten State-Owned Enterprises - Agricultural Bank: Valuation of 202,000 million RMB [3][6] - Industrial and Commercial Bank: Valuation of 274,000 million RMB [3][6] - State Grid: Valuation of 266,000 million RMB [3][6] - China National Railway Group: Valuation of 224,000 million RMB [3][6] - China Construction Bank: Valuation of 203,000 million RMB [3][6] - Kweichow Moutai: Valuation of 182,000 million RMB [3][6] - China Petroleum: Valuation of 176,000 million RMB [3][6] - Bank of China: Valuation of 170,000 million RMB [3][6] - China Mobile: Valuation of 175,000 million RMB [3][6] - CITIC Group: Valuation of 156,000 million RMB [3][6]

本报讯 记者赵萌报道 近日，中国银行作为主承销商，成功协助摩根士丹利在中国银行间市场发行 26亿元熊猫债。本次发行是摩根士丹利第三次"亮相"中国债券市场，中国银行参与全部三期发行，累计 协助融资66亿元人民币，充分彰显了国际发行人对中国市场的坚定信心和高度认可。 据了解，2025年7月，中国银行协助引进摩根士丹利进入中国债券市场，成功发行首单美资发行人 熊猫债，为国际优质发行人提供了有价值的实践范例，吸引更多境外主体关注并参与中国债券市场。截 至目前，中国银行已服务来自亚洲、欧洲、北美洲、非洲、南美洲发行人来华发行熊猫债。中国银行将 继续依托全球化服务网络和跨境金融优势，以丰富的项目经验和独特的市场视角协助各类发行主体进入 中国市场，开拓投融资新渠道，为提升人民币国际影响力、推动高水平对外开放贡献更大力量。 责任编辑：袁浩 ...

智通财经APP获悉，香港联交所最新资料显示，2月4日，大健康国际(02211)股东将股票由招银国际证券 转入中国银行(香港)，转仓市值527.40万港元，占比5.30%。 大健康国际1月多次出现大手存转仓记录。香港联交所最新资料显示，1月20日，3044.03万股股票于当 日被存入粤商国际证券，该笔存仓股份市值3926.79万港元;1月26日，大健康国际股东将股票存入招银 国际证券，存仓市值5098.28万港元，占比12.43%。 此外，1月28日，大健康国际股东将股票由富途证券国际香港转入宝新证券，转仓市值3035.37万港元;1 月29日，大健康国际股东将股票由粤商国际证券转入香港上海汇丰银行，转仓市值8551.5万港元，占比 14.68%。 ...

大健康国际1月多次出现大手存转仓记录。香港联交所最新资料显示，1月20日，3044.03万股股票于当 日被存入粤商国际证券，该笔存仓股份市值3926.79万港元;1月26日，大健康国际股东将股票存入招银 国际证券，存仓市值5098.28万港元，占比12.43%。 香港联交所最新资料显示，2月4日，大健康国际(02211)股东将股票由招银国际证券转入中国银行(香 港)，转仓市值527.40万港元，占比5.30%。 此外，1月28日，大健康国际股东将股票由富途证券国际香港转入宝新证券，转仓市值3035.37万港元;1 月29日，大健康国际股东将股票由粤商国际证券转入香港上海汇丰银行，转仓市值8551.5万港元，占比 14.68%。 ...

Market Overview - The Hang Seng Index (HSI) closed at 26,513.11, down by 334.21 points or 1.24% [1] - The index reached a high of 26,812.73 and a low of 26,414.23 during the trading session [1] - The trading volume was 70.4034 million shares, with an average price of 26,613.48 [1] Major Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 139.704, up by 0.51% compared to the previous close [2][3] - Tencent Holdings closed at HKD 552.190, down by 1.04% compared to the previous close [2][3] - Alibaba Group (W) closed at HKD 159.500, down by 0.93% [3] - AIA Group closed at HKD 90.700, up by 1.40% [3] - Xiaomi Group (W) closed at HKD 33.960, down by 1.85% [3] - Meituan (W) closed at HKD 92.150, down by 1.13% [3] - China Ping An closed at HKD 72.050, up by 1.05% [3] ADR Performance - Tencent's ADR (TCEHY) was priced at USD 552.190, reflecting a decrease of 1.04% compared to its Hong Kong counterpart [3] - Alibaba's ADR (BABA) was priced at USD 155.411, down by 2.56% compared to its Hong Kong counterpart [3] - HSBC's ADR (HSBC) was priced at USD 139.704, up by 0.51% compared to its Hong Kong counterpart [3]

上海市人民政府副秘书长朱民，澳门投资发展股份有限公司（简称"澳投"）董事会主席谭致宁，澳门金 融管理局金融发展厅代总监劳婷沁，南光（集团）有限公司总会计师、MOX澳交所副董事长冯文红， MOX澳交所执行委员会主席兼总裁张维春，祺鲲科技首席财务官高森，以及来自沪澳两地政府机关、 境内外知名金融机构、多元产业代表等三百余位嘉宾共同参与大会。 会议聚焦跨境ESG合作，以高品质跨境金融服务，探索构建"沪澳联动、辐射全球"的合作新范式，精准 赋能国家绿色金融体系的建设和发展。全国政协副主席何厚铧特向大会致发贺函，祝愿"2026国际债券 年会暨沪澳跨境ESG合作大会"圆满成功，并殷切期待大会能为澳门经济适度多元、绿色金融永续发展 贡献智慧和力量。 新华财经上海2月4日电2月4日，由中华（澳门）金融资产交易股份有限公司（简称"MOX澳交所"）主 办、上海祺鲲信息科技有限公司（简称"祺鲲科技"）承办的"引领绿色转型，赋能出海发展——2026国 际债券年会暨沪澳跨境ESG合作大会"在上海举行。 在项目推介环节，澳门金融管理局金融发展厅代总监劳婷沁指出，澳门特区政府正根据《经济适度多元 发展规划（2024-2028年）》及202 ...

Core Insights - The article highlights the implementation of a fiscal subsidy policy for personal consumption loans by a major Chinese bank, which has benefited over 600,000 customers [2]. Group 1: Loan Services and Coverage - The bank has expanded its loan coverage to meet diverse financing needs, including home purchases, vehicle financing, education, cultural tourism, healthcare, and daily consumption [2]. - The focus is on key demographics such as new citizens and recent graduates, with efforts to enhance service efficiency and broaden loan accessibility [2]. Group 2: Technological Integration - The bank leverages technology by introducing a "Consumer Loan Subsidy" section in its mobile banking app, which integrates functions like subsidy signing, inquiry, and automatic deduction [2]. - This technological enhancement aims to reduce the cost of consumer loans for residents [2].

来源：中国银行 葛海蛟表示，进入"十五五"时期，中国进一步扩大对外开放将为中沙合作带来崭新的发展机遇。中国银 行始终将中东特别是沙特作为全球化发展的重要区域，目前已在沙特、阿联酋、卡塔尔、巴林等地建立 了比较完善的服务网络，持续助力中沙经贸合作不断迈上更高水平。中国银行将继续以金融之力推动共 建"一带一路"倡议同沙特"2030愿景"深度对接，切实提升人民币清算、跨境投融资等领域服务质效，在 积极助力中资企业投资沙特的同时，全力支持沙特企业分享中国市场机遇，为中沙全面战略伙伴关系开 辟新前景增添更多金融动能。 阿尔胡穆德表示，中国是沙特第一大贸易伙伴，双向投资逐年增长，两国经贸合作潜力巨大、前景广 阔。在中沙建立全面战略伙伴关系10周年之际，沙特央行将进一步支持中国银行在沙业务发展，希望中 国银行持续做好合规展业、稳健经营，充分发挥全球经营优势，紧抓金融市场、金融科技等领域合作机 遇，源源不断为沙特经济社会发展作出新贡献。 责任编辑：曹睿潼 责任编辑：曹睿潼 来源：中国银行 当地时间2月3日，中国银行董事长葛海蛟在利雅得与沙特中央银行（以下简称"沙特央行"）副行长塔拉 勒·阿尔胡穆德（Talal Alhumou ...

据介绍，"G60惠系列"以"分层分类、精准滴灌、全链协同、生态共建"为核心设计思路，锚定科创小微 企业从初创、成长到成熟的全生命周期差异化需求，以及产业链上下游协同发展的关键环节，创新打 造"G60惠新贷""G60惠才贷""G60惠质贷""G60惠链贷""G60惠跨境""G60惠服务"六大专属产品，设 置"G60托举模式"满足科创企业高质量增长需求。通过构建"债权融资+跨境撮合+综合服务"三位一体的 金融支持体系，中行为长三角G60科创走廊科创小微企业提供全生命周期、全产业链综合金融服务，有 效破解小微企业"融资难、融资贵"问题。 上海某汽车电子有限公司正是受益于"G60惠系列"的企业之一。该企业成立于2006年，是一家深耕汽车 电子真空泵、真空度传感器、传感器及霍尔传感器芯片工程应用设计研发和生产的"专精特新"中小企 业，业务范围覆盖长三角G60科创走廊九城市，入选"G60科创走廊一类重点扶持企业"与松江区"2025年 度智能制造示范工厂"名单。 转自：新华财经 近日，上海发布《上海市加快打造国际一流营商环境行动方案（2026年）》，提出要便利融资服务，完 善支持小微企业融资协调工作机制，帮助解决小微企业实 ...

Core Viewpoint - The adjustments in margin ratios for gold and silver deferred contracts by the Bank of China aim to protect investor interests and mitigate market risks amid recent volatility in the precious metals market [1][2][5]. Group 1: Margin Ratio Adjustments - Starting from February 4, 2026, the margin ratio for the Shanghai Gold Exchange (SGE) gold deferred contracts will increase from 16% to 17% [1][5]. - The Bank of China's margin ratio for gold deferred contracts will rise from 42.24% to 44.88% [1][5]. - For silver deferred contracts, the margin ratio will decrease from 26% to 23%, while the Bank of China's margin ratio will adjust from 66.04% to 66.01% [2][5]. Group 2: Market Volatility and Analysis - Recent fluctuations in the precious metals market have seen gold prices open at 1096 yuan per gram on February 4, with a rise of over 6%, following a drop exceeding 13% on February 2 [1][7]. - Analysts suggest that the recent price adjustments do not indicate a trend reversal, as the long-term bullish logic for gold and silver remains intact [7][8]. - Factors contributing to the recent volatility include geopolitical tensions and market reactions to potential changes in U.S. monetary policy, particularly regarding the nomination of Kevin Warsh as the new Federal Reserve Chair [7][8]. Group 3: Investor Recommendations - Analysts recommend that investors avoid holding positions over the holiday period and maintain a cautious outlook on the precious metals market for February [9].