Group 1 - The article provides the latest gold and silver prices from various banks and institutions as of November 28, 2025, indicating real-time fluctuations in precious metal prices [1][2][3] - The Shanghai Gold Exchange lists the gold price at 953 yuan per gram, while silver prices vary, with the benchmark silver price from 中钞国鼎 at 7.43 yuan per gram and from 斯尔沃银器 at 12.2 yuan per gram [2][3] - The prices are subject to change and are provided for reference, with the final settlement price being the authoritative figure [3]

Core Viewpoint - The six major state-owned banks have collectively discontinued the 5-year large denomination certificates of deposit (CDs), reflecting a broader trend of adjustments in long-term deposit products among banks to reduce liability costs and stabilize net interest margins [1][3][8]. Group 1: Market Reactions and Adjustments - The discontinuation of 5-year large denomination CDs by major banks has drawn significant attention, as many smaller banks have also been adjusting their long-term deposit products [3][8]. - Some state-owned banks had already stopped offering 5-year CDs prior to this collective action, indicating a shift in the market [5][8]. - The adjustments in deposit products are primarily aimed at lowering high-cost liabilities and optimizing the banks' liability structures [9][10]. Group 2: Interest Rate Trends - Recent data shows that the net interest margin for commercial banks remains under pressure, with state-owned banks having the lowest net interest margin at 1.31% compared to 3.83% for private banks [8][10]. - The trend of lowering deposit rates is expected to continue, with banks likely to maintain a limited number of 5-year products at reduced rates [10][11]. - The adjustments reflect a significant transformation in the financial system under a low-interest-rate environment, with banks responding to declining asset yields by shortening deposit terms [9][10]. Group 3: Investor Guidance - Investors are advised to shift from a single deposit mindset to a diversified investment strategy, considering options like money market funds, cash management products, and government bonds to balance risk and return [11]. - The expectation of continued declines in deposit rates suggests that investors should lower their return expectations and adjust their investment strategies accordingly [11].

Core Viewpoint - The continuous optimization of the departure tax refund measures is enhancing the consumption willingness of foreign travelers in China, as highlighted by the issuance of the "Henan Province Departure Tax Refund Information Guide" by the Provincial Department of Commerce on November 28 [1] Group 1: Departure Tax Refund Stores - Henan Province has established a total of 41 departure tax refund stores located in cities such as Zhengzhou, Luoyang, Kaifeng, Jiaozuo, Xinxiang, Xuchang, and Anyang [3] - Selected stores, including Zhengzhou Dennis Department Store and Zhengzhou Zhenghong City, are designated as the first batch of "immediate refund" pilot stores, allowing travelers to receive tax refunds on-site after credit card pre-authorization [3][4] - The Provincial Department of Commerce plans to increase the number of tax refund stores and "immediate refund" points, focusing on major commercial complexes, international brands, and traditional stores [3][4] Group 2: Tax Refund Product Supply - There is an initiative to enrich the supply of tax refund products by encouraging the development of goods with Henan's cultural characteristics, such as Kung Fu culture and Yellow River culture [4] - The aim is to include more products like Bian embroidery and Ru porcelain in the tax refund scope, creating new consumption scenarios that enhance the shopping experience for foreign tourists [4] Group 3: Optimization of Tax Refund Services - The province will promote the departure tax refund policy through multiple channels, including airports, ports, tourist attractions, and online platforms, to ensure that eligible tourists are well-informed about the refund process [4] - The Provincial Department of Commerce emphasizes the need for clarity regarding the applicable scope, refund conditions, processes, and required documentation for tourists [4] Group 4: Departure Tax Refund Agencies - The only listed departure tax refund agency in Henan Province is the Bank of China, Henan Branch [10] - The agency has established multiple service points, including at Zhengzhou Airport and major commercial areas, to facilitate the tax refund process for travelers [11]

Core Viewpoint - The absence of 5-year large denomination certificates of deposit (CDs) from major state-owned banks reflects a broader trend in the banking industry towards shorter-term products and more refined liability management strategies in a low interest rate environment [1][11]. Summary by Sections Current Market Situation - Recently, the six major state-owned banks, including Industrial, Agricultural, Bank of China, Construction, Communications, and Postal Savings banks, have no 5-year large denomination CDs available for sale, which has drawn attention [1]. - The Bank of China has historically offered 5-year CDs but has limited their availability to specific customers since 2023, indicating a shift in product strategy [2][6]. Historical Context - The Bank of China has issued at least 37 batches of personal large denomination CDs from 2016 to 2025, with several 5-year products released in 2018, 2019, and 2023 [2]. - Other banks, such as Agricultural Bank of China, have not offered 5-year CDs for several years, focusing instead on shorter-term products [8][10]. Interest Rate Dynamics - The current interest rate environment shows a phenomenon where the interest rates for 5-year fixed deposits are lower than those for 3-year deposits, indicating a "negative spread" situation [11]. - As of the third quarter of this year, the net interest margin for commercial banks was reported at 1.42%, showing a year-on-year decrease of 11 basis points, despite some stabilization in recent months [11]. Strategic Responses - Banks are adopting more precise liability management strategies, including shortening deposit terms and offering differentiated rates for specific customer segments, particularly targeting older clients with higher rates and lower minimum deposit requirements [12][13]. - This approach aims to optimize the liability structure, secure stable long-term funding, and enhance customer retention, particularly among the elderly demographic, which constitutes over 70% of savings deposits [12][13].

Core Viewpoint - Multiple banks in Hong Kong are actively supporting rescue and reconstruction efforts following a significant fire incident in Tai Po, New Territories, which resulted in major casualties [1] Group 1: Donations and Support Actions - Industrial and Commercial Bank of China (ICBC) donated 10 million HKD and organized a volunteer team to assist local government in rescue efforts [3] - Agricultural Bank of China (ABC) also donated 10 million HKD, focusing on supporting fire rescue and post-disaster recovery [6] - Bank of China (BOC) announced a donation of 20 million HKD and established a special account for public donations [11] - China Construction Bank (CCB) pledged 10 million HKD for emergency relief and recovery efforts, while also facilitating cross-border donations [15] - Bank of Communications (BoCom) plans to donate 10 million HKD and set up emergency service stations in affected areas [18] - Shanghai Bank and Minsheng Bank collectively donated over 50 million HKD, with Shanghai Bank contributing 10 million HKD and Minsheng Bank 5 million HKD [24] Group 2: Financial Services and Customer Support - ICBC is providing emergency financial services, including extended service hours and special service windows for affected customers [3] - ABC is coordinating with public welfare organizations for targeted donations and has initiated a volunteer team for disaster support [6] - BOC is expediting the reissuance of bank cards for affected customers and waiving related fees [12] - CCB is offering flexible identity verification and free reissuance of bank cards for customers unable to provide identification [15] - BoCom has set up priority service channels and is providing emergency cash support for affected customers [19]

Core Viewpoint - Multiple banks are taking urgent actions to support the rescue and reconstruction efforts following a significant fire incident in Hong Kong's Tai Po district, which resulted in major casualties and damage [1]. Group 1: Bank Contributions - Industrial and Commercial Bank of China (ICBC) has pledged HKD 10 million for disaster relief and reconstruction efforts, coordinating with its Hong Kong branches to provide emergency financial services and support [3]. - Agricultural Bank of China (ABC) is also donating HKD 10 million to assist in fire rescue and post-disaster recovery, while organizing volunteer teams to support affected families [6][7]. - Bank of China (BOC) has committed HKD 20 million, establishing a special donation account for public contributions and offering various financial support measures for affected customers [11][12]. - China Construction Bank (CCB) announced a donation of HKD 10 million and is providing flexible identity verification and fee waivers for affected customers [15][16]. - Bank of Communications plans to donate HKD 10 million and has set up emergency service stations to assist affected residents [19][20]. - Other banks, including Shanghai Bank and Minsheng Bank, collectively donated over HKD 50 million, with HSBC and Hang Seng Bank contributing HKD 30 million [25][26].

在佛山协同学校，中行佛山张槎支行联合张槎派出所、张槎检察室为该校约200名初、高中学生带来一 堂生动实用的"反诈公开课"。 现场，民警与检察官结合近年来青少年被诈骗典型案例，如"游戏账号买卖""虚假追星应援""刷单返 利"等，用通俗易懂的语言拆解诈骗分子的作案手法与套路，引导学生认清诈骗本质。银行讲师则围绕 安全用卡、校园反诈、网络安全、征信保护、数字化支付等主题，从"源头防护""线上场景""主动防 控"等方面展开宣讲，有效提升了在校学生的金融安全防范意识。 如今，随着数字金融的飞速发展，银行卡已升级为集消费、理财、信贷于一体的"智慧生活载体"。移动 支付、无感支付等便捷方式让生活更高效，但支付风险也随之而来。为普及银行卡安全使用，帮助消费 者正确使用金融工具、金融产品，近期，中国银行佛山分行（以下简称"佛山中行"）巧借"双十一""全 运会"等热点，通过"特色形式+精准场景"的模式，多形式、广覆盖开展"智慧用卡 安全支付"主题宣传 教育，让金融安全知识更接地气、更入人心。 场景嵌入，发挥专长借势扩面 在"十五运会"期间，中行佛山汾江支行利用比赛场馆人流量多、覆盖人群广的特点，工作人员纷纷化 身"金融卫士"，在 ...

Group 1 - The core viewpoint of the articles highlights the collaboration between the Bank of China and the China Council for the Promotion of International Trade, aiming to enhance foreign trade financial services and contribute to high-level opening-up and win-win cooperation [1][2] Group 2 - The Bank of China is committed to implementing the spirit of the 20th National Congress of the Communist Party of China, focusing on practical measures and superior services to strengthen its role as a main channel for foreign trade financial services [1] - The cooperation agreement signed will leverage the advantages of domestic and international resource platforms to enhance multi-level and comprehensive connections, supporting national diplomatic and economic strategies [1] - The China Council for the Promotion of International Trade aims to expand its service network for enterprises and enhance international relationships, focusing on high-quality development and an open world economy [2] - Future collaboration will focus on promoting trade and investment, supporting APEC activities, and organizing major exhibitions and forums to deepen cooperation and achieve mutual benefits [2]

Accessible version Banks - China (H/A) 2026 Year Ahead: defensive anchor with potential upside Price Objective Change Key themes for the China bank sector in 2026 Defensive anchor amid market volatilities in 2026 Equity investors remain constructive on the China market in 2026, supported by global monetary easing, China's steady economic growth, ongoing technological advancement, and the authority's commitment to a "slow-bull" equity market. However, with MSCI China trading at an above-average P/E (~13x), w ...

两个字的变化，如何搅动规模32万亿人民币的大市场？近日，中国保险资产管理业协会正式更名为"中 国银行保险资产管理业协会"，新增"银行"二字，意味着哪些变化？来看本期飞钱说。 （文章来源：21世纪经济报道） ...