兴业银行、中信银行和招商银行AIC的设立，表明试点进一步落地，综合金融运营的尝试取得阶段性成 绩。数据显示，截至2024年6月末，五大AIC资产合计5869.9亿元。清科研究中心的不完全统计数据显 示，2024年全年五大AIC及附属投资机构共完成156起投资案例，投资金额576.04亿元。 银行AIC八年前的破茧，不仅有助于为正规金融机构试点混业综合金融业务提供试点窗口和经验积累， 而且有助于推动银行体系内部存量资产盘活。 长期以来，银行系统面临着存量信贷资产流动性不足和风险揭示不充分等问题，大量信贷资产一经形 成，就主要以银行系统内部估值定价和风险识别为主，其风险矩阵的迁移变动，风险类型和特征是否适 合银行传统的处理方式，都面临着复杂的风险敏感性适应问题。由于国内缺乏大型的信贷转让市场，导 致信贷资产的整个生命周期，要么全程在银行系统内部匹配，要么不良化后剥离出售，束缚了银行的能 动性，也不可避免导致许多本可以在不良化前获得救济的风险资产，未能得到有效的管理和交易。 AIC为银行系统管控存量风险资产提供了新的工具和配置空间，将适合债转股的资产转为股权，有助于 动态完善银行系统内部的风险资产结构；同时有助于改 ...

发令哨响，近500名跑者开启环松雅湖活力之旅。一路上，大家步伐轻快、笑容灿烂，尽情享受奔跑快乐。活动不 设竞赛排名，参与者放下压力，全身心投入。 赛道沿途的多个互动打卡点是活动亮点。金融知识问答点前，参与者积极思考、踊跃答题，在运动中学习金融知 识；在健康生态理念宣传点处，大家认真聆听讲解，领悟健康生活与生态保护的重要性，这与招行倡导的绿色、 健康生活理念相契合。这些打卡点构建了"金融+科技+生态"沉浸式体验场景，让参与者在奔跑中充满新奇与收 获，深刻感受招行的价值主张与服务内涵。 悦跑过程中，不同年龄、职业的参与者相互交流鼓励。企业跑团步伐整齐，展现团结协作精神；个人参赛者自由 奔放，释放活力。大家边奔跑边欣赏松雅湖美景，欢声笑语回荡湖畔。 长沙晚报掌上长沙11月25日讯（通讯员 李梦媛 祝绘宁）松雅湖国家湿地公园碧波绿树间，招商银行星沙支行"松 雅湖悦跑活动"于11月22日激情开启。活动将全民健身与金融服务深度融合，近500名重点企业客户与个人客户踊 跃参与，用脚步丈量城市活力，以汗水传递招行温度。 活动当日清晨，松雅湖波浪码头主会场热闹非凡。七点半起，各企业跑团及个人参赛者陆续抵达。他们身着鲜艳 赛事服 ...

【导读】深圳金融监管局多措并举稳外贸促消费 11月25日，深圳金融监管局组织召开2025年"凝聚改革共识提振发展信心"第四场新闻发布会，介绍深圳 银行业保险业近期运行情况，通报深圳银行业保险业稳外贸促消费有关工作举措和成效。 据介绍，2025年前10个月，全市中资银行新发放外贸企业贷款7635.66亿元，同比增长9.83%；截至2025 年10月末，全市个人消费贷款余额为8352.88亿元，同比增长4.95%。 截至10月末，深圳金融监管局监管的银行业资产总额为14.36万亿元，同比增长4.37%；前10个月，辖区 保险业实现原保险保费收入1910.45亿元，同比增长12.20%。银行业资产总额和原保险保费收入规模均 居全国大中城市第三位。 中国进出口银行深圳分行、中国建设银行深圳市分行、招商银行深圳分行、出口信保深圳分公司和招联 消金相关负责人分别介绍了本机构稳外贸促消费有关工作举措和成效。 多措并举稳外贸促消费，金融精准滴灌打通经济循环脉络 潘文波介绍，2025年，面对严峻复杂的外部环境，深圳金融监管局强化监管引领，引导深圳银行业保险 业为外贸企业稳健发展注入强劲金融动能。2025年前10个月，全市中资银 ...

Core Insights - Shenzhen's financial regulatory bureau reported significant progress in supporting foreign trade and consumer spending through targeted financial policies and initiatives [1][3][6] Group 1: Foreign Trade Support - In the first ten months of the year, Shenzhen's domestic banks issued new loans to foreign trade enterprises amounting to 763.66 billion yuan, a year-on-year increase of 9.83% [3][4] - The financing balance for cross-border e-commerce grew by 39.92%, while loans to small and micro foreign trade enterprises increased by 20.58% [3] - Insurance institutions provided export credit insurance coverage of 93.69 billion USD to 31,000 foreign trade enterprises, marking a 13.80% increase [3] - Innovative financial products like "Micro Trade Loan" have been launched, benefiting 1,700 small foreign trade enterprises with credit of 1.82 billion yuan, reducing financing costs by over 15% [3] - A "Foreign Trade Financial Supermarket" was established, integrating 63 banking and insurance institutions, offering 229 financial products for foreign trade enterprises [3] Group 2: Consumer Spending Promotion - As of the end of October, the balance of personal consumption loans in Shenzhen reached 835.29 billion yuan, reflecting a year-on-year growth of 4.95% [5] - Loans in the accommodation, catering, and cultural entertainment sectors totaled 207.99 billion yuan, with a growth of 2.04% [5] - Financial institutions have introduced various consumer incentives, including a program that provided 7.79 million yuan in discounts, stimulating nearly 300 million yuan in related consumption [5] - The "Deep Military Loan" initiative has disbursed nearly 60 million yuan to support veterans in entrepreneurship and enhance their consumption capacity [5] Group 3: Innovation and Policy Synergy - Financial technology and policy collaboration have improved efficiency in both foreign trade and consumer finance sectors [6] - The implementation of a personal consumption loan interest subsidy policy has benefited over 32,100 clients, with a total subsidy amount of 60.14 million yuan [6] - The Shenzhen financial regulatory bureau aims to continue leveraging financial resources to support foreign trade enterprises and upgrade consumer finance, contributing to the establishment of a globally influential consumer finance center [6]

Market Performance - The banking sector saw an increase of 1.62% on November 25, with CITIC Bank leading the gains [1] - The Shanghai Composite Index closed at 3870.02, up 0.87%, while the Shenzhen Component Index closed at 12777.31, up 1.53% [1] Individual Bank Performance - CITIC Bank's closing price was 7.91, with a rise of 2.46% and a trading volume of 603,800 shares, amounting to a transaction value of 473 million [1] - Other notable banks included Everbright Bank, which closed at 3.65 with a 1.96% increase, and Zhejiang Commercial Bank, which closed at 3.13, up 1.95% [1] Fund Flow Analysis - The banking sector experienced a net inflow of 423 million from main funds, while retail funds saw a net outflow of 149 million [1] - Main fund inflows were led by Ping An Bank with 159 million, while CITIC Bank had a main fund inflow of 81.6 million [2] Detailed Fund Flow for Individual Banks - Ping An Bank had a main fund inflow of 159 million, but retail funds saw a net outflow of 23.58 million [2] - CITIC Bank's main fund inflow was 81.6 million, with retail funds experiencing a net outflow of 39.91 million [2] - Everbright Bank had a main fund inflow of 18.28 million, while retail funds saw a significant outflow of 78.13 million [2]

Core Insights - The article emphasizes the attractiveness of personal pension plans, highlighting their ability to save, invest, and provide tax benefits for individuals planning for retirement [2][6][10]. Group 1: Personal Pension Benefits - Over 13 million people have chosen to open personal pension accounts at China Merchants Bank, indicating a growing trend in retirement planning [2]. - The average annualized return for pension investment products exceeds 3.4%, making them a viable option for retirement savings [5]. - Personal pension accounts allow for flexible contributions, enabling individuals to decide how much to save [2][6]. Group 2: Investment Options - 98% of pension products have shown positive returns since their inception, showcasing the effectiveness of these investment vehicles [2]. - The article mentions various investment options, including index funds and FOF products, which are designed to provide stable returns through diversified portfolios [2]. - There are over 300 exclusive pension products available, offering a range of investment choices for consumers [17]. Group 3: Tax Benefits - Individuals can save up to 5,400 yuan annually through tax deductions related to personal pension contributions, enhancing the financial appeal of these accounts [20]. - The article suggests that individuals can save nearly 4,000 yuan in taxes each year by utilizing personal pension funds [16]. Group 4: User Demographics - More than 60% of users opening personal pension accounts are from the 80s and 90s generations, indicating a shift towards early retirement planning among younger individuals [10]. - The article highlights that many users initially started saving without much thought but later recognized the benefits of accumulating savings for retirement [12].

Core Viewpoint - The establishment of financial asset investment companies (AICs) by several joint-stock banks marks a significant expansion in China's banking sector, aimed at enhancing capital flow to technology innovation enterprises and optimizing financing structures [9][10][13]. Group 1: Recent Developments - Three joint-stock banks, including CITIC Bank, China Merchants Bank, and Industrial Bank, have recently received approval to establish their AICs, with registered capitals of 10 billion RMB for CITIC and Industrial Banks, and 15 billion RMB for China Merchants Bank [1][3][11]. - The establishment of these AICs is seen as a strategic move to support the development of technology finance and enhance the banks' comprehensive operational capabilities [13][14]. Group 2: Purpose and Function of AICs - AICs are designed to facilitate market-oriented debt-to-equity swaps, primarily aimed at helping enterprises reduce leverage and improve capital structures [9][10]. - The initial focus of AICs was on managing non-performing assets, but they are now evolving into market-driven asset management and investment institutions [10][12]. Group 3: Trends and Future Directions - The regulatory framework for AICs has expanded, allowing for broader investment activities beyond debt-to-equity swaps, including equity investments and corporate restructuring [10][12]. - The approval of AICs from joint-stock banks signifies a shift in the competitive landscape from state-owned banks to a more diversified banking system, enhancing the efficiency of financial resource allocation [14]. Group 4: Impact on Technology and Innovation - AICs are increasingly positioned as long-term capital providers for technology innovation, with a focus on sectors such as semiconductors, new energy, and high-end equipment [15][16]. - The combination of debt-to-equity swaps and equity investments allows AICs to offer comprehensive financial services to technology enterprises, addressing their unique financing challenges [15][16].

Core Viewpoint - The Chinese equity market is expected to perform well due to multiple supporting factors, with a tactical overweight view on A/H shares maintained by Guotai Junan Securities [1] Group 1: Market Performance - On November 25, 2025, the three major A-share indices opened higher, with the CSI A500 index rising by 1.10% [1] - Key stocks such as Huadian Co., Ltd. and Shenzhen South Circuit rose significantly, with Huadian hitting the daily limit and others like Shenghong Technology and Fuhua also seeing substantial gains [1] Group 2: Investment Outlook - Guotai Junan Securities highlights that the recent volatility and panic selling have released micro trading risks, creating a favorable environment for the market to establish new expectations as the 14th Five-Year Plan begins [1] - The firm believes that the regulatory authorities are determined to stabilize the capital market, and factors that previously caused valuation discounts have dissipated, indicating a potential upward trend in valuations [1] Group 3: Index Composition - As of October 31, 2025, the top ten weighted stocks in the CSI A500 index include major companies like CATL, Kweichow Moutai, and China Ping An, accounting for a total of 19.36% of the index [1] Group 4: Investment Products - Investors without stock accounts can access the A500 ETF through the A500 ETF Jiashi linked fund, allowing for a one-click investment in the top 500 A-share companies [2]

积极利用云计算、大数据、人工智能以及区块链等技术手段提升平台的服务与安全性，依靠科技资源和 数据优势进行创新，强化用户体验，赋能金融发展。 深圳农商银行 富德生命人寿保险股份有限公司 东方证券股份有限公司 颁奖词 获奖机构 中国工商银行股份有限公司深圳市分行 中国农业银行股份有限公司深圳市分行 中国国际金融股份有限公司 招商银行股份有限公司深圳分行 近年来，中金公司对大模型进行了一系列前瞻性布局，建设多个核心应用场景。2021年启动智能平 台"九章"的建设；2022年推出了AI数字员工Jinn；2024年落地多个大模型关键应用；今年完成DeepSeek 本地化部署，并融合至应用体系，实现了智能投顾助手的升级迭代，更构建投顾服务领域"热点发现-资 讯处理-策略生成"的三位一体服务生态。 招商银行股份有限公司深圳分行 招商银行深圳分行依靠专业化的跨境融资、并购金融、债券承销等特色产品，提供"本外币、境内外、 投商行、股债权"的全方位金融服务；大力发展金融科技，打造手机银行App开放服务平台，以及覆盖 企业核心经营环节的场景化服务能力。 获奖理由 中国工商银行股份有限公司深圳市分行 工行深圳市分行推进数字工行（D- ...

Core Viewpoint - China Merchants Bank has received approval for the establishment of its wholly-owned subsidiary, China Merchants Financial Asset Investment Co., Ltd, which will enhance its capabilities in market-oriented debt-to-equity swaps and equity investment pilot projects, thereby promoting high-quality development [1] Group 1 - The approval for the establishment of China Merchants Financial Asset Investment Co., Ltd was granted by the National Financial Supervision and Administration [1] - The registered capital of the new subsidiary is set at RMB 15 billion [1] - The company aims to deepen collaboration between industry and finance, serving the real economy through specialized market-oriented debt-to-equity swap operations [1] Group 2 - The new subsidiary will actively engage in pilot equity investment projects to empower technological innovation [1] - The establishment of this subsidiary is expected to enhance the company's comprehensive operational capabilities [1] - The company plans to complete the business registration and obtain the corporate business license before commencing operations [1]