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 ...

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 Viewpoint - The article highlights the successful implementation of carbon reduction projects in Sichuan, emphasizing the role of financial institutions like Industrial Bank Chengdu Branch in supporting sustainable development and carbon neutrality initiatives [1][4]. Group 1: Carbon Reduction Projects - Sichuan has fully implemented the new development concept and actively promoted carbon peak and carbon neutrality goals, with the support of financial institutions [1]. - Sichuan Yingu Carbon Sink Recycling Resource Co., Ltd. has successfully developed the first carbon reduction project in the province, achieving over 120,000 tons of CDCER issuance [1][3]. - The company has established a recycling system for waste materials and has been recognized as a pilot enterprise for the "Recycling System of Recycled Resources" by the Ministry of Commerce [3]. Group 2: Financial Support and Innovation - Industrial Bank Chengdu Branch has provided a loan of 4 million yuan to support the "Carbon Benefit Tianfu" mechanism carbon reduction project, demonstrating its commitment to green finance [1][4]. - The bank has developed customized financial service plans linked to the success of carbon reduction projects, offering interest rate reductions upon successful project completion [3]. - The Chengdu Branch has introduced various innovative financial products, including "carbon footprint" loans and regional carbon rights pledge loans, to support carbon neutrality goals [4]. Group 3: Commitment to Sustainable Development - The company plans to donate 80,000 tons of carbon reduction to support the carbon neutrality initiative for the Chengdu World Universiade [4]. - Industrial Bank Chengdu Branch is recognized as a pioneer in green finance, actively promoting sustainable development and contributing to the "Beautiful China" initiative [4].

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].

登录新浪财经APP 搜索【信披】查看更多考评等级 重要提示 1、永赢中证科创创业人工智能交易型开放式指数证券投资基金（以下简称"本基金"）的募集已于2025 年11月21日获中国证监会证监许可〔2025〕2582号文注册。中国证监会对本基金募集申请的注册，并不 表明其对本基金的投资价值、市场前景和收益做出实质性判断或保证，也不表明投资于本基金没有风 险。 2、本基金是交易型开放式、股票型证券投资基金、指数基金。 3、本基金的基金管理人为永赢基金管理有限公司（以下简称"本公司"或"永赢基金"），基金托管人为 兴业银行股份有限公司，本基金的登记结算机构为中国证券登记结算有限责任公司。 4、本基金募集对象为符合法律法规规定的可投资于证券投资基金的个人投资者、机构投资者、合格境 外投资者以及法律法规或中国证监会允许购买证券投资基金的其他投资人。个人投资者指依据有关法律 法规规定可投资于证券投资基金的自然人；机构投资者指依法可以投资证券投资基金的、在中华人民共 和国境内合法登记并存续或经有关政府部门批准设立并存续的企业法人、事业法人、社会团体或其他组 织；合格境外投资者指符合《合格境外机构投资者和人民币合格境外机构投资 ...

Core Viewpoint - Industrial Bank announced a scheduled system switch for its IC card trusted service management project, which will temporarily suspend external services affecting debit card transactions through mobile payment platforms [1] Group 1: Announcement Details - The system switch is planned for November 25, 2025, from 22:00 to 06:00 the following day [1] - During the switch, services for UnionPay mobile payment transactions, including Huawei Pay, Xiaomi Pay, and Apple Pay, will be interrupted [1] Group 2: Customer Advisory - Customers are advised to arrange any necessary transactions in advance due to the service interruption [1] - For inquiries or assistance, customers can contact the bank's 24-hour national customer service hotline [1] - The bank expresses apologies for any inconvenience caused by this service disruption [1]

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]

Core Insights - The establishment of Xingyin Investment marks the first AIC (Asset Investment Company) under a joint-stock bank, with a registered capital of 10 billion yuan [1] - The leadership team of Xingyin Investment consists of experienced executives from Industrial Bank, indicating a strong internal continuity and expertise [2] Group 1: Company Formation and Leadership - Xingyin Investment is a wholly-owned subsidiary of Industrial Bank, officially launched in Fuzhou [1] - The chairman of Xingyin Investment is Chen Wei, who has extensive experience in investment banking and previously led significant financial projects at Industrial Bank [1] - The president of Xingyin Investment is Zheng Rongbin, who has held various key positions within the Industrial Bank system, focusing on inclusive finance [1][2] Group 2: Executive Team Composition - The vice president of Xingyin Investment is Zhao Gu, who has a strong background in credit risk management and investment banking within Industrial Bank [2] - Another vice president, Wang Su, brings expertise in financial technology, which may enhance the operational capabilities of Xingyin Investment [2] - The executive team also includes four directors and a financial officer, with members holding significant roles within Industrial Bank, such as the Chief Risk Officer and the Chief Auditor [5]

记者丨曹媛 另外，除兴银投资董事长陈伟外及上述高管成员外， 兴银投资还有五位主要成员，包括4名董 事赵朝清、赖富荣、郑榕斌、张水泉，以及财务负责人赵晶。 其中，赖富荣现为兴业银行首 席风险官，赵朝清现为兴业银行总审计师。 今年3月，国家金融监管总局发布《关于进一步扩大金融资产投资公司股权投资试点的通 知》，支持符合条件的商业银行发起设立AIC。今年5月，金融监管部门再次表示，为更好地 发挥股权投资对科技创新的支持作用，将发起设立AIC的主体扩展至符合条件的全国性商业银 行。 编辑丨孙超逸 首家股份行AIC高管团队成员已定，均为兴业银行"老将"。 近日，兴业银行旗下全资子公司兴银金融资产投资有限公司（简称"兴银投资"）在福州揭牌 成立，注册资本为100亿元，系第一家股份行系AIC，也是继工银投资、农银投资、中银资 产、建信投资和交银投资后第六家银行系AIC。 21世纪经济报道记者了解到，目前兴银投资首届高管团队成员基本确定： 兴银投资董事长由 兴业银行厦门分行党委书记、行长陈伟担任。 记者注意到，在兴银投资揭牌仪式上，陈伟就 以兴银投资董事长身份出席并公开致辞。 陈伟担任兴银投资董事长前，曾有丰富的投行业务经验 ...

本年度，国家及深圳地区持续推动外汇政策升级，核心在于提升跨境贸易和投融资便利化水平。贸易便 利化方面，"拓宽深圳贸易高水平开放试点轧差净额结算业务种类"等系列政策出台；同时，依托跨境金 融服务平台，上线新型离岸贸易背景核验场景，大幅提升单据审核效率。跨境投融资便利化方面，"取 消外商投资企业再投资登记"等涵盖投资、融资等的一揽子便利化政策落地，深圳地区同步推出并落地 高版本本外币一体化资金池"3.0版"，进一步优化跨国公司资金归集使用效率。 与这种开放创新精神一脉相承，兴业银行深圳分行自1998年成立以来，作为总行在粤港澳大湾区的重要 分支机构，已成长为深圳股份制商业银行第一梯队、总行系统内领先的金融机构。立足"先行示范 区""粤港澳大湾区"双区建设前沿，深圳分行紧跟国家战略与区域发展步伐，深耕区域资源禀赋，坚持 创新驱动发展。深入贯彻落实中央金融工作会议精神，分行全力推进科技金融、绿色金融、普惠金融、 数字金融、养老金融五篇大文章，持续提升服务实体经济和社会民生质效。 近年来，兴业银行深圳分行将跨境金融作为战略重点，紧扣"跨境贸易和投融资便利化""深圳综合改革 试点方案"、"2025年深圳稳外贸支持政策要点 ...