Group 1 - The core viewpoint of the news is the performance of the China Securities Hong Kong 300 Value Index, which has shown significant growth over various time frames, indicating a positive market trend [1][2]. - The China Securities Hong Kong 300 Value Index has increased by 6.54% in the past month, 18.03% in the past three months, and 22.11% year-to-date [1]. - The index is composed of four sub-indices: the China Securities Hong Kong 300 Growth Index, the China Securities Hong Kong 300 Value Index, the China Securities Hong Kong 300 Relative Growth Index, and the China Securities Hong Kong 300 Relative Value Index [1]. Group 2 - The top ten holdings of the China Securities Hong Kong 300 Value Index include major companies such as China Construction Bank (10.36%), HSBC Holdings (9.8%), and China Mobile (7.29%) [1]. - The financial sector dominates the index's industry composition, accounting for 59.00%, followed by communication services at 10.98% and energy at 10.50% [2]. - The index undergoes semi-annual adjustments, with sample changes implemented on the next trading day after the second Friday of June and December [2].

"特殊退汇台账"服务机制具有较强的可复制性与推广价值。中国银行东营分行将持续推广该模式，为更 多"走出去"企业提供优质高效外汇服务，践行金融服务实体经济的使命担当。（通讯员 李皓璇） 了解到该公司的退汇难题，中国银行充分发挥贸易便利试点政策优势，第一时间为企业量身定制解决方 案，建立"特殊退汇台账"，创新优化业务流程。在收汇环节，银行工作人员严格审核合同、发票、报关 单等单证，精准区分气体货款与钢瓶押金金额，并详细登记至"特殊退汇台账"，确保每一笔交易信息准 确、完整、可追溯。后续企业办理退汇业务时，我行直接比对台账记录，无需企业重复提供收汇单证， 极大简化了退汇手续，为企业节省了大量资料整理与提交时间，显著提升业务办理效率。 自2024年年底"特殊退汇台账"服务机制实施以来，已累计为该公司高效处理特殊退汇业务4笔，单笔特 殊退汇业务办理时间大大缩短，企业财务人员无需频繁往返银行提交资料，得以将更多精力投入核心业 务，企业对中行服务提出高度表扬。 山东某气体股份有限公司作为集气体研发、生产、销售于一体的综合性企业，自成立以来，凭借创新实 力与先进制造水平，荣获高新技术企业、专精特新"小巨人"等多项国家级荣誉， ...

Core Viewpoint - The China Bank Shanghai Branch is actively supporting the development of the low-altitude economy through innovative financial services and strategic partnerships, showcasing its commitment at the first International Low Altitude Economy Expo [1][2]. Group 1: Event Overview - The first International Low Altitude Economy Expo opened on July 23, with the theme "Technology Finance, Leading the Future; Low Altitude Economy, Cloud Initiating a New Journey" [1]. - The China Bank's exhibition design reflects the concept of "financial vitality serving the real economy," featuring three functional areas: financial display, interactive communication, and service docking [1]. Group 2: Financial Services and Support - The China Bank Shanghai Branch has accelerated its financial business layout in the low-altitude economy, providing comprehensive and diversified financial support across research, production, service, and application sectors [2]. - The establishment of a technology finance center allows for tailored service solutions for industries such as new materials, renewable energy, satellite navigation, and eVTOL design [2]. - Collaborative efforts with the Shanghai Stock Exchange and other partners aim to create a bridge for policy delivery and business matchmaking within the low-altitude economy supply chain [2]. Group 3: Future Plans - The China Bank Shanghai Branch plans to deepen its integration into the low-altitude economy development strategy, focusing on the financial service needs of the entire industry chain [2]. - Increased resource investment and service innovation are anticipated to contribute to the construction of a low-altitude economy industrial cluster in Shanghai [2].

在苏州市委人才办、苏州市发展改革委、苏州市委金融办联合指导下，江苏金服数字集团、中国银 行苏州分行重点承接，结合数字人民币硬钱包，重磅推出"苏惠青年卡"。该卡面向2025年3月27日 "线上申请'苏惠青年卡'后，我趁着下班前来领取，权益马上就可以享受了。"昨天（7月23日）， 在苏州工业园区工作的青年小商来到中国银行服务网点领取"城市礼包"。据了解，"苏惠青年卡"发布后 快速落地，3天时间累计申请人员已达到435人，已有100余人通过申请。 （含）以后首次从苏州大市以外新引进、毕业两年以内、在苏州首次缴纳社保的大专以上青年群体免费 发放，全方位满足来苏就创业的青年人才生活与发展需求。7月20日，在昆山市青年人才社区建设推进 会活动现场，"苏惠青年卡"正式发布并首批发放。 "公共交通权益很贴心，对我这样刚来苏州、没有汽车的青年来说非常友好。"今年3月来到昆山张 浦就业的吉琳霞介绍，她是首批获发"苏惠青年卡"的青年，享受交通和购物等方面的权益让她很开 心。"除了'苏惠青年卡'，我还计划申请人才乐居租房补贴，这些人才政策的兑现，可以有效减轻我的 生活负担。"吉琳霞说，苏州经济活力强、就业机会多，还有许多强有力的人才 ...

Core Viewpoint - The banking industry is experiencing a significant shift as multiple banks, including state-owned ones, are discontinuing various credit card products due to market conditions, regulatory requirements, and internal business needs, indicating a transition from expansion to competition in existing markets [1][5]. Group 1: Credit Card Product Discontinuation - China Bank announced the discontinuation of 24 credit card products effective August 31, which includes various types such as co-branded and themed cards [2][4]. - Other banks like Citic Bank, Minsheng Bank, and Shanghai Pudong Development Bank have also issued similar announcements regarding the cessation of certain credit card products [2][5]. - The reasons for discontinuation include business development needs, upcoming product retirements, and expiring card authorization contracts [3][6]. Group 2: Declining Credit Card Issuance - The issuance of credit cards has been declining for ten consecutive quarters, with the total number of credit cards and credit card loans dropping to 721 million by the end of the first quarter of this year, reflecting a 5.14% year-on-year decrease [5][6]. - The trend of reducing credit card offerings is attributed to pressures from market conditions, regulatory requirements, and banks' operational needs [5][6]. Group 3: Future Directions for Credit Card Business - The credit card market is facing saturation and a shift in payment tools, prompting banks to optimize their structures and reduce costs, indicating that the trend of reducing credit card benefits or discontinuing products will likely continue [7]. - Future development in the credit card sector is expected to focus on full-scenario integration, deepening user engagement, and leveraging technology for digital operations and management [7].

7月22日，财富中文网发布了2025年《财富》中国500强排行榜。榜单采用与《财富》世界500强一脉相 承的制榜方法，同时包括了上市和非上市企业。 榜单显示，今年500家上榜的中国公司在2024年的总营业收入达到14.2万亿美元，和上年上榜公司相比 下降约2.7%；净利润达到7564亿美元，较上年增长约7%。按美元计算，2024年中国的GDP总量达到 18.75万亿美元，今年榜单中500家公司的收入总和约为中国当年GDP的四分之三。 国家电网有限公司以5484亿美元的营收位居榜首，中国石油天然气集团和中国石油化工集团分列榜单第 二位和第三位，中国建筑集团位列第四。"四大行"均位列前十，其中，工商银行排名最高，位列第五； 农业银行、建设银行、中国银行分别位列第七至第九。 今年前十位中没有大陆民营企业，京东集团仍是排位最高的大陆民营企业，位列第11位，较去年上升2 位。阿里巴巴集团位列第18位，较去年上升3位；腾讯控股位列第32位，较去年上升6位。《财富》表 示，中国几家互联网代表企业值得关注，它们在竞争格局下仍持续增长。 盈利能力方面，最赚钱的十家上榜公司中，除五家商业银行和中石油外，今年进入利润榜前十位的有四 ...

编者按：7月21日，美国银行全球研究发布股票策略报告《中国金融行业路演反馈：资金买入能走多远？》称，他们惊讶地发现美国的新兴市场长线 基金持有中国国有银行的股票。现在，海外投资者的兴趣已经扩展到中小盘金融股，包括金融科技和租赁类股票。一些欧美长线基金正在研究 A 股 区域银行，因为增长更高，且 "国家服务" 风险更低。鉴于长期低利率环境，预计保险公司 / 资产管理公司似乎可能进一步增加对高收益股票的配 置，直到银行股市净率达到 1 倍或股息率降至接近 2%。 投资者对中国金融股兴趣浓厚 中国金融股今年以来上涨了 23%，其在 MSCI 中国指数中的权重从 2021 年 6 月的 12.8% 回升至目前的 19% 以上。投资者的兴趣浓厚且日益上升： 1) 跟随资金流向 —— 南向资金 / 保险公司一直在买入银行股 / 高收益股票； 2) 痛苦交易 —— 金融股是一个普遍被低配的大盘股板块，但却带来了强劲的绝对回报； 3) 看空增长 = 买入收益股。 美国银行最近的中国金融股路演参与度很高：有从纽约、新加坡和北京飞来的投资者；有资深投资组合经理和互联网领域专家；企业方面告诉我 们，他们有段时间没见过这么大规模的投 ...

Core Insights - The private banking sector is experiencing intense competition among major banks, with a focus on high-net-worth clients and asset management growth [2][19] - Recent developments, including the "internship monetization" controversy involving Industrial Bank, have sparked discussions about the boundaries of value-added services in private banking [1][7] Group 1: Private Banking Market Overview - The total Assets Under Management (AUM) in the private banking sector has reached 24.6 trillion yuan, with many banks reporting double-digit growth in client numbers and AUM [2][6] - Major banks like Industrial Bank, Agricultural Bank, and Bank of China have surpassed 3 trillion yuan in AUM, with significant year-on-year growth rates of 18.87% and 16.73% respectively [6][12] Group 2: Client Growth and Performance - As of the end of 2024, Industrial Bank had 289,000 private banking clients, an increase of 9.9% from the previous year, while Agricultural Bank and Bank of China also reported substantial client growth [4][6] - The average AUM per private banking client varies, with Industrial Bank at 11.52 million yuan and Agricultural Bank at 11.51 million yuan [3][6] Group 3: Competitive Strategies - Banks are adopting differentiated strategies to attract high-net-worth clients, with a focus on comprehensive services that include financial and non-financial resources [9][12] - The competition is not only about asset size but also about the quality of services offered, with banks like Industrial Bank and Construction Bank emphasizing tailored solutions for entrepreneurs [14][18] Group 4: Challenges and Future Directions - The private banking sector faces challenges such as product homogenization and intense competition, which may impact the effectiveness of non-interest income growth [4][19] - Moving forward, the industry is expected to shift from a scale-oriented approach to one focused on the health of client assets, aiming for a transformation from "scale competition" to "value management" [20]

Core Viewpoint - A newly established loan intermediary, Xin Xin Hui Lin, has sparked collective statements from nearly 20 banks in Shenzhen, indicating potential disruption to financial order and consumer rights due to misleading advertising practices [2][3]. Company Summary - Xin Xin Hui Lin (Shenzhen) Consulting Service Co., Ltd. was founded in November 2024 and has quickly established nine subsidiaries, focusing on community-based financing solutions [3][4]. - The company promotes its services through community-centric slogans, aiming to assist local residents in overcoming financing challenges [4]. Industry Summary - The shift of loan intermediaries towards residential communities reflects a transformation in the industry, driven by rising online customer acquisition costs and intensified market competition [4]. - This "community financing" model poses risks such as information asymmetry, lack of service transparency, and potential for excessive debt among consumers [5]. - Banks are encouraged to enhance financial education within communities and establish transparent service channels to mitigate the risks posed by unscrupulous intermediaries [5][6]. - Regulatory bodies are increasingly vigilant against illegal loan intermediary activities, emphasizing the need for clear boundaries in intermediary services and the establishment of transparent fee structures [6][7]. - Collaboration among regulatory agencies, industry associations, banks, and intermediaries is essential for standardizing practices and ensuring consumer protection [7].

华宝基金关于华宝创业板人工智能交易型开放式 指数证券投资基金发起式联接基金新增华泰证券 股份有限公司为代销机构的公告 根据华宝基金管理有限公司（以下简称"本公司"）与华泰证券股份有限公司（以下简称：华泰证券）签 署的《证券投资基金销售代理协议》，本公司自2025年07月23日起增加华泰证券为华宝创业板人工智能 交易型开放式指数证券投资基金发起式联接基金（华宝创业板人工智能ETF发起式联接 A:023407；华 宝创业板人工智能ETF发起式联接 C:023408）的代销机构。投资者可通过上述代销机构办理华宝创业板 人工智能交易型开放式指数证券投资基金发起式联接基金的开户、认购、申赎及其他业务。 投资者可通过以下途径咨询具体业务： （1） 华泰证券股份有限公司 客户服务电话: 95597 公司网址：www.htsc.com.cn （2）华宝基金管理有限公司 客户服务电话：400-820-5050、400-700-5588 公司网址：www.fsfund.com 风险提示：基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定盈 利，也不保证最低收益。投资者投资本公司旗下基金时应认真阅读基金的 ...