Core Viewpoint - The People's Bank of China and the National Financial Regulatory Administration have conducted an assessment of systemically important banks for 2025, identifying 21 domestic banks categorized into five groups based on their systemic importance scores [1]. Group 1: Assessment of Systemically Important Banks - A total of 21 banks have been recognized as systemically important, including 6 state-owned commercial banks, 10 joint-stock commercial banks, and 5 city commercial banks [1]. - The banks are divided into five groups based on their systemic importance scores, with the first group containing 11 banks, the second group 4 banks, the third group 2 banks, the fourth group 4 banks, and the fifth group having no banks [1]. Group 2: Breakdown of Banks by Group - **First Group (11 banks)**: Includes China Minsheng Bank, China Everbright Bank, Ping An Bank, Huaxia Bank, Ningbo Bank, Jiangsu Bank, Beijing Bank, Nanjing Bank, Guangfa Bank, Zheshang Bank, and Shanghai Bank [1]. - **Second Group (4 banks)**: Includes Industrial Bank, China CITIC Bank, Shanghai Pudong Development Bank, and China Postal Savings Bank [1]. - **Third Group (2 banks)**: Includes Bank of Communications and China Merchants Bank [1]. - **Fourth Group (4 banks)**: Includes Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China [1]. - **Fifth Group**: No banks are included in this group [1]. Group 3: Future Regulatory Actions - The People's Bank of China and the National Financial Regulatory Administration will implement additional regulatory measures for systemically important banks according to the "Regulations on Additional Supervision of Systemically Important Banks (Trial)" [1]. - The aim is to enhance the synergy between macro-prudential management and micro-prudential supervision, ensuring the safe and sound operation of systemically important banks and better supporting the high-quality development of the real economy [1].

Group 1 - The People's Bank of China and the National Financial Regulatory Administration have conducted an assessment for the 2025 systemically important banks, identifying 21 domestic banks, including 6 state-owned commercial banks, 10 joint-stock commercial banks, and 5 city commercial banks [3][4]. - The list aims to establish a comprehensive macro-prudential management system and strengthen the regulation of systemically important financial institutions [4]. - Systemically important banks are categorized into five groups based on their importance scores, with the first group including 11 banks such as China Minsheng Bank and China Everbright Bank, and the fourth group including major banks like Industrial and Commercial Bank of China and Bank of China [5]. Group 2 - The People's Bank of China and the National Financial Regulatory Administration will enhance the combined efforts of macro-prudential management and micro-prudential regulation to solidify additional supervision of systemically important banks, promoting their safe and sound operation to better serve the high-quality development of the real economy [5].

新华财经第比利斯2月13日电（记者周良）格鲁吉亚国家银行（中央银行）12日宣布，该行已获准进入全球规模最大、最重要的金融市场之一——中国银 行间债券市场（CIBM）。 格鲁吉亚国家银行行长纳提阿·图尔纳瓦（Natia Turnava）12日表示，进入中国银行间债券市场将显著提高格鲁吉亚国家银行管理国际储备（international reserves)的效率，增强格鲁吉亚国际储备的多元化。 图尔纳瓦指出，中国银行间债券市场具有高度稳定性，进入这一市场是外国投资机构直接投资中国金融市场的重要渠道之一。"对我们而言，要想让国际 储备多元化，既要让国际储备的外币结构和资产类型多元化，还要让我们投资的国家和地域多元化。格鲁吉亚国家银行将在近期进入中国银行间债券市 场，并将向本国私营企业和金融机构分享经验，以便让他们更容易参与中国证券市场。 编辑：王晓伟 转自：新华财经 ...

Core Viewpoint - The People's Bank of China and the National Financial Regulatory Administration released the list of systemically important banks for 2025, identifying 21 domestic banks, including 6 state-owned commercial banks, 10 joint-stock commercial banks, and 5 city commercial banks [1][3]. Group 1: Systemically Important Banks - The 2025 list categorizes banks into five groups based on their systemic importance scores, with the first group containing 11 banks, including China Minsheng Bank, China Everbright Bank, Ping An Bank, Huaxia Bank, Ningbo Bank, Jiangsu Bank, Beijing Bank, Nanjing Bank, Guangfa Bank, Zheshang Bank, and Shanghai Bank [3]. - Zheshang Bank is newly included in the first group, becoming the 10th joint-stock commercial bank recognized [1]. - Industrial Bank has moved from the third group to the second group, indicating a change in its systemic importance [1]. Group 2: Regulatory Framework - Systemically important banks are subject to additional capital requirements based on their group classification, with the first group requiring a 0.25% additional capital, increasing to 1.5% for the fourth group [3]. - These banks must also meet additional leverage ratio requirements, which are set at 50% of the additional capital requirements, to be satisfied by Tier 1 capital [3]. - The regulatory bodies emphasize the importance of macro-prudential management and micro-prudential supervision to ensure the safe and sound operation of systemically important banks, thereby supporting the high-quality development of the real economy [3].

Core Viewpoint - The People's Bank of China has identified 21 domestic systemically important banks for the year 2025, aiming to enhance macro-prudential management and regulatory oversight of these institutions [1] Group 1: Identification of Systemically Important Banks - A total of 21 banks have been recognized as systemically important, including 6 state-owned commercial banks, 10 joint-stock commercial banks, and 5 city commercial banks [1] - The banks are categorized into five groups based on their systemic importance scores, with the first group containing 11 banks, the second group 4 banks, the third group 2 banks, the fourth group 4 banks, and the fifth group having no banks [1] Group 2: Breakdown of Bank Groups - Group 1 includes: China Minsheng Bank, China Everbright Bank, Ping An Bank, Huaxia Bank, Ningbo Bank, Jiangsu Bank, Beijing Bank, Nanjing Bank, Guangfa Bank, Zheshang Bank, and Shanghai Bank [1] - Group 2 consists of: Industrial Bank, China CITIC Bank, Shanghai Pudong Development Bank, and China Postal Savings Bank [1] - Group 3 includes: Bank of Communications and China Merchants Bank [1] - Group 4 comprises: Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China [1] Group 3: Future Regulatory Actions - The People's Bank of China and the financial regulatory authority will implement additional regulatory measures as per the "Regulations on Additional Supervision of Systemically Important Banks (Trial)" to ensure the safe and sound operation of these banks [1] - The aim is to strengthen the macro-prudential management and micro-prudential regulatory synergy, promoting the healthy development of systemically important banks to better serve the high-quality development of the real economy [1]

Core Viewpoint - The People's Bank of China and the National Financial Regulatory Administration have published the list of systemically important banks for 2025, identifying 21 domestic banks, including 6 state-owned commercial banks, 10 joint-stock commercial banks, and 5 city commercial banks [1][2]. Group 1: Systemically Important Banks - The newly published list includes Zhejiang Commercial Bank as a new entrant among systemically important banks [1]. - The banks are categorized into five groups based on their systemic importance scores, with the first group containing 11 banks, the second group 4 banks, the third group 2 banks, the fourth group 4 banks, and the fifth group having no banks [1]. - The first group includes China Minsheng Bank, China Everbright Bank, Ping An Bank, Huaxia Bank, Ningbo Bank, Jiangsu Bank, Beijing Bank, Nanjing Bank, Guangfa Bank, Zhejiang Commercial Bank, and Shanghai Bank [1]. - The second group consists of Industrial Bank, China CITIC Bank, Shanghai Pudong Development Bank, and China Postal Savings Bank [1]. - The third group includes Bank of Communications and China Merchants Bank [1]. - The fourth group comprises Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China [1]. - No banks are listed in the fifth group [1]. Group 2: Regulatory Measures - The People's Bank of China and the National Financial Regulatory Administration will implement additional regulatory measures for systemically important banks according to the "Regulations on Additional Supervision of Systemically Important Banks (Trial)" [2]. - The aim is to enhance macro-prudential management and micro-prudential supervision, ensuring the safe and sound operation of systemically important banks [2]. - This initiative is intended to better serve the high-quality development of the real economy [2].

Core Viewpoint - The A-share banking sector has shown significant performance in 2025, with a total market capitalization surpassing 10 trillion yuan, indicating a structural bull market despite a mixed performance among individual stocks [2][6]. Group 1: Market Performance - As of February 13, the total market capitalization of the banking sector reached approximately 13.72 trillion yuan, an increase of 1.45 trillion yuan from the end of the previous year [2][6]. - The A-share market capitalization grew by over 20 trillion yuan compared to the previous year, reaching nearly 114 trillion yuan [6]. - The banking sector's market capitalization as a proportion of the total A-share market decreased from 11.19% at the end of the previous year to around 9% [6]. Group 2: Stock Performance - In 2025, 32 banking stocks recorded gains, with Qingdao Bank, Xiamen Bank, and Agricultural Bank leading with increases of over 30% [2][3]. - The banking sector's overall performance was relatively weak, with a decline of 0.3% for the year, making it one of the lowest-performing sectors among 31 major industries [3][4]. - Notable individual stock performances included Qingdao Bank with a 39.37% increase, Xiamen Bank at 38.36%, and Agricultural Bank at 30.86% since February 5 [3][5]. Group 3: Structural Trends - The banking sector experienced a clear differentiation in performance, with large state-owned banks initially performing well, while smaller banks gained momentum later in the year [4][6]. - Despite the overall positive trend, 10 banking stocks ended the year in the red, with Everbright Bank showing the largest decline at 10.7% [4][5]. - The competition for market capitalization among major banks saw Agricultural Bank briefly surpass Industrial and Commercial Bank of China, although the latter regained its position as the market leader by year-end [6][7].

Core Viewpoint - The People's Bank of China and the National Financial Regulatory Administration have conducted an assessment of systemically important banks for 2025, identifying 21 domestic banks categorized into five groups based on their systemic importance scores [1] Group 1: Identification of Systemically Important Banks - A total of 21 domestic systemically important banks have been recognized, including 6 state-owned commercial banks, 10 joint-stock commercial banks, and 5 city commercial banks [1] - The banks are categorized into five groups based on their systemic importance scores, with the first group consisting of 11 banks, the second group containing 4 banks, the third group having 2 banks, the fourth group including 4 banks, and the fifth group having no banks [1] Group 2: Breakdown of Bank Groups - **First Group (11 banks)**: Includes China Minsheng Bank, China Everbright Bank, Ping An Bank, Huaxia Bank, Ningbo Bank, Jiangsu Bank, Beijing Bank, Nanjing Bank, Guangfa Bank, Zheshang Bank, and Shanghai Bank [1] - **Second Group (4 banks)**: Comprises Industrial Bank, China CITIC Bank, Shanghai Pudong Development Bank, and China Postal Savings Bank [1] - **Third Group (2 banks)**: Consists of Bank of Communications and China Merchants Bank [1] - **Fourth Group (4 banks)**: Includes Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China [1] - **Fifth Group**: Currently has no banks included [1] Group 3: Future Regulatory Actions - The People's Bank of China and the National Financial Regulatory Administration will implement additional regulatory measures for systemically important banks according to the "Regulations on Additional Supervision of Systemically Important Banks (Trial)" [1] - The aim is to enhance macro-prudential management and micro-prudential supervision, ensuring the safe and sound operation of systemically important banks and better supporting the high-quality development of the real economy [1]

Market Overview - The Hang Seng Index fell by 465.42 points, a decrease of 1.72%, closing at 26,567.12 points [1] - The total turnover on the main board was HKD 257.578 billion [1] - The Hang Seng China Enterprises Index dropped by 142.47 points, closing at 9,032.71 points, a decline of 1.55% [1] - The Hang Seng Tech Index decreased by 48.56 points, closing at 5,360.42 points, down by 0.9% [1] Blue-Chip Stocks - Tencent Holdings fell by 0.65%, closing at HKD 532 [1] - Hong Kong Exchanges and Clearing decreased by 2.13%, closing at HKD 405.2 [1] - China Mobile remained unchanged, closing at HKD 78.2 [1] - HSBC Holdings dropped by 2.72%, closing at HKD 135.7 [1] Local Hong Kong Stocks - Cheung Kong Holdings decreased by 0.59%, closing at HKD 46.9 [1] - Sun Hung Kai Properties increased by 0.15%, closing at HKD 133.7 [1] - Henderson Land Development fell by 1.04%, closing at HKD 32.4 [1] Chinese Financial Stocks - Bank of China decreased by 1.48%, closing at HKD 4.65 [1] - China Construction Bank fell by 1.49%, closing at HKD 7.96 [1] - Industrial and Commercial Bank of China dropped by 1.38%, closing at HKD 6.41 [1] - Ping An Insurance decreased by 2.16%, closing at HKD 70.35 [1] - China Life Insurance fell by 3.67%, closing at HKD 33.08 [1] Oil and Petrochemical Stocks - China Petroleum & Chemical Corporation dropped by 5.12%, closing at HKD 5.37 [1] - China National Petroleum Corporation fell by 4.33%, closing at HKD 9.05 [1] - CNOOC Limited decreased by 3.5%, closing at HKD 24.24 [1]

简历显示，张辉出生于1972年，自2025年1月起任中国银行副董事长、执行董事，2024年12月起任中国 银行行长，2025年2月起兼任中银香港（控股）有限公司副董事长，2026年2月起兼任中国银行首席合规 官。2024年加入中国银行。2021年2月至2024年11月任国家开发银行副行长。此前曾在交通银行工作多 年，2020年7月至2020年11月任交通银行首席风险官。2019年2月至2020年11月任交通银行风险管理部总 经理、内控案防办主任。2017年2月至2019年2月任交通银行风险管理部（资产保全部）总经理。2016年 11月至2017年2月任交通银行贵州省分行行长。此前曾任交通银行资产保全部总经理助理、副总经理、 副总经理（主持工作）、总经理，风险管理部（资产保全部）副总经理，上海市分行副行长，贵州省分 行副行长（代为履行行长职责）等职务。1993年毕业于陕西财经学院（现西安交通大学），获经济学学 士学位。 北京商报讯（记者 孟凡霞 周义力）2月13日，中国银行发布董事会决议公告，会议同意聘任张辉兼任该 行首席合规官。张辉自董事会批准之日起兼任中国银行首席合规官。 ...