Core Viewpoint - The article highlights the efforts of the Bank of Communications (BoCom) in promoting financial education through a series of innovative initiatives during the 2025 Financial Education Promotion Week, aimed at enhancing public understanding of financial knowledge and consumer rights [1][2][3][4]. Group 1: Financial Education Initiatives - BoCom launched a series of engaging financial education projects, including the introduction of a new mascot "Jiao Jiao," designed to resonate with contemporary culture and enhance brand recognition [1][2]. - The financial education series video "Jiao Jiao, Set Off!" was released across multiple online platforms, featuring "Jiao Jiao" on a journey to spread practical financial knowledge, including fraud prevention and rational investment [2]. - During the promotion week, BoCom organized various financial education activities at well-known tourist attractions across multiple provinces, integrating local cultural elements to attract diverse audiences [3]. Group 2: Consumer Protection and Financial Literacy - BoCom's half-year report indicates a commitment to consumer protection, establishing a comprehensive framework for consumer rights that includes a cross-departmental coordination mechanism [4]. - The bank emphasizes the integration of financial education with support for the elderly and disabled, aiming to enhance the effectiveness and innovation of its educational efforts [4]. - A "Risk Warning Delivered" initiative was conducted in 73 scenic spots across 28 provinces, directly bringing financial services and knowledge to consumers [3].

未来，交通银行平顶山分行将继续贯彻落实稳外贸相关工作部署，持续推动金融产品与服务创新，不断 完善企业汇率风险管理服务体系。同时，进一步强化汇率风险中性理念的宣传与引导，以此合作为示 范，助力更多外贸企业提升综合抗风险能力，为支持地方实体经济高质量发展注入金融动能。 （CIS） 作为平顶山外贸领域的标杆企业，神马股份在日常经营中面临一定的汇率波动影响。交通银行平顶山分 行以国家稳外贸政策为指导，通过省行、分行联动，积极向企业传导汇率风险中性的财务管理理念。在 深入了解企业实际经营和外汇风险敞口情况后，该行提供了有针对性的汇率风险管理服务，协助企业逐 步建立更为科学、规范的外汇风险管理体系。 神马股份相关负责人表示，通过交通银行的专业服务，企业不仅提升了汇率波动下的成本管控能力，也 更加深刻地认识到坚持汇率风险中性理念对于财务稳健的重要性，有助于企业聚焦主业经营，实现可持 续发展，成为当前稳外贸背景下增强风险防控能力的有效工具。 在国际贸易形势复杂多变、汇率波动加剧的背景下，交通银行平顶山分行积极响应国家稳外贸政策号 召，近日向本地重点外贸企业神马股份提供了专业的汇率风险管理服务，助力企业增强应对汇率波动的 能力 ...

Investment Rating - The report maintains a recommendation for the banking industry [3] Core Insights - The report provides a comprehensive analysis of the asset-liability structure and interest margin changes of 42 A-share listed banks during the "14th Five-Year Plan" period, highlighting a shift towards corporate loans on the asset side and a stronger retail focus on the liability side [12][14] - The asset-liability structure indicates a significant increase in the proportion of corporate loans, rising from 57.02% to 63.22% from the end of 2020 to mid-2025, while the proportion of demand deposits decreased from 41.94% to 30% [12][14] - The report notes a decline in both asset yield and interest margin, with the yield on interest-earning assets dropping from 4.43% to 3.32% and the net interest margin decreasing from 2.23% to 1.53% during the same period [14][15] Summary by Sections Overall Asset-Liability Structure and Interest Margin Changes - The asset-liability structure shows an increase in loan-to-earning asset ratio from 54.19% to 56.49%, with corporate loans making up a larger share of total loans [14][15] - The average yield on interest-earning assets decreased significantly, with the loan yield falling from 5.34% to 3.82% [15] - The net interest margin for listed banks remains higher than that of commercial banks, despite a decline [14][15] Changes in Each Banking Sector's Asset-Liability Structure and Interest Margin - City commercial banks experienced a more significant increase in the proportion of corporate loans, with their interest margin narrowing less compared to other banks [18] - The report highlights that the proportion of deposits in interest-bearing liabilities for state-owned banks decreased, while it increased for rural commercial banks [18] - The decline in interest-bearing liabilities' cost rate was most pronounced in city commercial banks, leading to a smaller reduction in their interest margin [18]

9月28日，第十五届全国运动会中国龙加字银质纪念币发行仪式在广州举行。该活动由中国人民银行、 十五运会组委会和残特奥会组委会共同主办，中共中央港澳工作办公室有关部委领导出席见证，中国钱 币博物馆、中国金币集团、中国工商银行、交通银行、中国南方电网、中国邮政集团、十五运会省执委 会和残特奥会省执委会各部门、各地市赛区执委会以及赞助企业、特许企业、票务大客户、公益捐赠机 构等相关代表出席活动。 在发行仪式上，中国人民银行广东省分行行长张奎宣读发行公告。中国人民银行9月25日正式发行的第 十五届全国运动会中国龙加字银质纪念币一套2枚，均为中华人民共和国法定货币。该纪念币正面图案 为长城，并分别刊"第十五届全国运动会"中文字样、"全国第十二届残运会暨第九届特奥会"中文字样及 国名、年号；背面图案统一为中国龙、祥云，并刊面额、重量及成色；规格统一为31.104克圆形银质纪 念币，含纯银31.104克，直径38毫米，面额10元，成色99.9%；最大发行量分别为"第十五届全国运动 会"500000枚、"全国第十二届残运会暨第九届特奥会"10000枚。 残特奥会组委会副主任、广东省人民政府副省长李运指出，中国人民银行发行的第 ...

Core Viewpoint - Major banks in China have decided to abolish their supervisory boards, transferring their functions to the audit committee of the board of directors, which is seen as a move to optimize corporate governance and reduce costs [7][8][9] Group 1: Decision and Implementation - The five major banks have announced that they will no longer establish supervisory boards, a decision approved at the 2024 annual general meeting held on June 27, 2025, and recently sanctioned by the National Financial Regulatory Administration [7] - Postal Savings Bank has also proposed to abolish its supervisory board and related committees, with the audit committee of the board taking over these responsibilities, pending shareholder approval [8] Group 2: Rationale and Expert Opinions - Industry experts suggest that the functions of supervisory boards overlap with those of the audit committee, particularly the independent directors, making the abolition a strategic choice to enhance governance flexibility and efficiency [8] - The decision to eliminate supervisory boards is viewed as a way to maintain effective corporate governance while lowering governance costs, according to a leading expert from the Shanghai Financial and Development Laboratory [8] Group 3: Regulatory Framework - The revised Company Law allows companies to establish audit committees within the board of directors to perform the functions of supervisory boards, a change that has been recognized by the National Financial Regulatory Administration [9] - Besides the six major banks, several other national joint-stock banks and local commercial banks have also announced the abolition of their supervisory boards [9]

1. Report Industry Investment Rating No information about the report industry investment rating is provided in the given content. 2. Core Viewpoints of the Report - External environment factors such as interest rate fluctuations, bond supply - demand, and policy orientation jointly impact bond investment returns. In H1 2025, the bond investment of 42 listed banks showed certain characteristics in scale, structure, and profit and loss, but there are still challenges in maintaining stable returns in the future [1]. - The overall bond investment scale of 42 listed banks expanded steadily in H1 2025. There were differences in the investment structure among different types of banks, with state - owned banks and city commercial banks having stable growth in the bond allocation portfolio, while joint - stock banks and rural commercial banks increased their efforts in the bond trading portfolio. The bond investment portfolio generally presented a pattern of "stable foundation and flexible gain" [1]. - The coupon income of 42 listed banks was generally stable in H1 2025 but showed a slight year - on - year decline. The fair value change loss was significant, and the investment income increased. However, the bond investment of the banking industry still faces pressure to maintain stable returns [1]. 3. Summary According to the Table of Contents 3.1 42 Listed Banks' Bond Investment Volume - **Overall Bond Investment Scale: Steady Expansion**: In H1 2025, the total scale of the three types of bond - type financial assets of 42 listed banks showed a steady expansion trend. The growth of debt investment - type financial assets measured at amortized cost was relatively slow, while the growth of trading financial assets measured at fair value and included in current profits and losses was relatively large, indicating that banks increased the proportion of trading positions [9]. - **Differentiated Bond Investment Distribution Structures among Different Bank Types**: In H1 2025, state - owned banks and city commercial banks showed stable growth in the bond allocation portfolio, which may be related to their participation in the primary - market issuance of important national and regional bond varieties. Joint - stock banks and rural commercial banks slightly weakened their bond allocation power but significantly increased their efforts in the bond trading portfolio, showing a differentiated feature of "stable allocation by large banks and prominent trading flexibility by small and medium - sized banks" [13]. - **Bond Investment Allocation Tilted towards Government - Related Bonds**: In H1 2025, commercial banks increased their allocation of government - related bonds, with an average month - on - month increase of about 10% for state - owned banks, joint - stock banks, and city commercial banks, and a slightly smaller increase for rural commercial banks. The allocation of financial bonds and other bonds was differentiated. All banks held a relatively large scale of government - related bonds, followed by financial bonds and credit - related bonds [18]. - **Correlation between Financial Asset Types and Bond Variety Structures**: The banking industry maintained a stable growth of interest - rate bonds in the bond allocation portfolio and increased the allocation of credit bonds, while the allocation of financial bonds was relatively weak. In the bond trading portfolio, interest - rate bonds and financial bonds were the core varieties, with a more significant increase than credit bonds, showing a "stable foundation and flexible gain" pattern [22]. 3.2 42 Listed Banks' Bond Investment Profit and Loss - **Coupon Income: Generally Stable and Still the Main Source of Income**: In H1 2025, the total coupon income of 42 listed banks decreased slightly year - on - year. Although the scale of held - to - maturity bonds increased, the decline in the coupon rate of newly issued bonds led to a decrease in coupon income. In the future, coupon income is still expected to be the main source of bond investment income for commercial banks [26]. - **Fair Value Change Loss: Losses in the Trading Level**: In H1 2025, the total fair value change loss of 42 listed banks decreased significantly year - on - year, indicating that it was difficult to obtain capital gains through short - term trading in the volatile bond market, and there were floating losses in bond trading [28]. - **Investment Income: Growth in All Bank Types**: In H1 2025, the actual investment income of 42 listed banks in the bond field increased significantly year - on - year. Although the book value appreciation of bond - type trading financial assets and other debt investment - type financial assets was not as good as that of the previous year, banks could still increase their investment income by selling floating - profit old bonds and waiting for the maturity of high - coupon bonds [31]. 3.3 Attribution and Summary - **External Environment Driving Factors: Interest Rate Fluctuations, Bond Supply - Demand, and Policy Orientation Jointly Impact Bond Investment Returns**: In H1 2025, the "more adjustments and fewer opportunities" bond market environment led to a general decline in the prices of existing bonds, resulting in a significant year - on - year decline in the fair value change loss of listed banks' bond investment. The supply of national bonds, local government bonds, and policy - based financial bonds increased, but the coupon rate of newly issued bonds decreased, leading to a decline in coupon income. Regulatory policies indirectly affected bond investment performance [35]. - **Banking Industry's Bond Investment Pressure and Future Outlook** - Overall Income Shows a Positive Trend but There Are Still Hidden Concerns: In H1 2025, the actual bond investment income of 42 listed banks increased slightly year - on - year, but the coupon income faced downward pressure in the interest - rate downward cycle, and it was more difficult to obtain spread income through band trading. Since H2 2025, the "stock - strong and bond - weak" pattern has emerged, and the loss caused by fair value change will be more obvious [3]. - Different Bank Types Show Differentiated Performance, and State - owned Banks' Pressure Is Relatively Controllable: State - owned banks can maintain a certain profit - making ability in the low - interest - rate volatile bond market due to their advantages in bond allocation and trading portfolios. Joint - stock banks, city commercial banks, and rural commercial banks are more vulnerable, and they may increase their capital allocation in the equity market, commodity market, and related structured fixed - income products in the future [3].

Group 1 - The tourism market is experiencing a peak in bookings ahead of the National Day holiday, with significant increases in reservations for flights, hotels, and attractions compared to last year [1][3] - Financial institutions are actively launching diverse services and support measures related to transportation, accommodation, and cultural tourism consumption, aided by government policies such as consumption loan interest subsidies [1][3][4] - The combination of financial support and promotional activities is expected to stimulate consumer spending, contributing to economic growth [2][6] Group 2 - Various travel platforms report a substantial rise in bookings for travel-related products during the holiday period, driven by strategies like taking extended leave [3][4] - Banks are implementing marketing activities to convert interest subsidy policies into increased consumer spending, with a notable rise in inquiries and applications for consumer loans [3][4][5] - The introduction of targeted financial products and services is aimed at enhancing service consumption and expanding domestic demand [5][9] Group 3 - The government is emphasizing the importance of service consumption in driving high-quality economic development, with policies aimed at increasing consumer credit support [7][8] - A report indicates that there is significant potential for service consumption growth in China, supported by rising income levels and structural economic changes [7][8] - Collaborative efforts among multiple departments are enhancing the effectiveness of policies aimed at boosting service consumption across various sectors [8][9] Group 4 - The banking sector is focusing on expanding financial services in key consumption areas such as cultural tourism, healthcare, and education, while also innovating financial products to meet diverse consumer needs [5][10] - There is a growing emphasis on creating a comprehensive ecosystem that integrates financial services with consumer experiences, particularly in the tourism and hospitality sectors [9][10] - The overall loan balance in key service consumption areas has shown a year-on-year increase, indicating a positive trend in financial support for service consumption [9]

Core Viewpoint - The major state-owned banks in China are abolishing their supervisory boards, transitioning to a governance structure led by audit committees, which is expected to enhance management professionalism and independence [1][2][3]. Group 1: Announcement of Supervisory Board Abolishment - On September 25, five major state-owned banks, including Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, and Bank of Communications, announced the receipt of regulatory approval to abolish their supervisory boards [2]. - This decision has been in the works for some time, with proposals to eliminate supervisory boards appearing in board resolutions as early as April 29 [2]. - Other banks, such as Shanghai Rural Commercial Bank and China Merchants Bank, are also expected to follow suit, with nearly 20 institutions planning to abolish their supervisory boards this year [1][3]. Group 2: Legal and Regulatory Framework - The new Company Law allows limited liability companies to establish audit committees within the board of directors to exercise the functions of supervisory boards, providing a legal basis for banks to abolish their supervisory boards [3]. - The National Financial Regulatory Administration has indicated that financial institutions can choose to replace supervisory boards with audit committees, aligning regulatory policies with legal revisions [3][4]. Group 3: Internal Governance Structure Post-Abolishment - The banks will adopt a single-tier governance structure led by audit committees, which will be composed mainly of independent directors, enhancing supervisory efficiency through professional division of labor [4]. - The transition to audit committees is expected to improve the professionalism and independence of oversight functions, although it will depend on the effective operation of these committees [5].

转自：新华财经 这家企业已成立6年，主要从事资源再生利用技术研发、废旧金属回收加工等业务，纳税贡献突出，对 当地经济发展和资源循环利用具有积极作用。2024年，该企业在交通银行获批900万元短期流贷额度。 2025年以来，随着经营规模持续扩大，销售收入大幅上升，企业账款回笼周期延长，短期资金需求显著 增加。 "我们将继续依托资金流信息平台，优化授信流程，延伸服务范围，为更多中小微企业提供高效、便捷 的金融服务支持。"交通银行蚌埠分行相关负责人表示。（周金龙） 该行在贷后查访中了解到企业面临的实际困难后，迅速启动续授信流程。通过接入人民银行资金流信息 平台，该行高效获取了企业在多家银行的资金流水数据，结合经营和财务情况综合分析，精准研判其偿 债能力和信用状况，快速完成审批流程，将原有短期流动贷款转化为期限更灵活的中期流贷，并给予 1000万元授信支持。目前，企业已全额提用该笔资金，压力得到及时缓解。 编辑：穆皓 资金流信息平台的运用，是交通银行蚌埠分行在人民银行指导下推动科技金融与普惠金融深度融合的具 体实践。平台实现了对企业经营状况、收支情况、履约能力的动态跟踪，显著提高了银企信息对称性， 为中小微企业信用融 ...

国有大行集体公告 日前，中国银行、工商银行、农业银行、建设银行和交通银行均公告宣布，其公司章程修订已获得国家金 融监督管理总局核准，并据此正式不再设立监事会，转由董事会下设的审计委员会承接原属监事会的法定 职责。 9月25日，中国银行、农业银行、工商银行、建设银行、交通银行均发布关于不再设立监事会的公告 称，公司章程修订已获监管核准，不再设立监事会。 日前，邮储银行发布关于召开2025年第二次临时股东大会的通知显示，将于10月9日上午召开的股东大会 上审议关于该行不再设立监事会的议案。 这意味着，六大国有行全部取消监事会。 具体来看，各家银行的改革步骤高度一致。中国银行、工商银行、农业银行、建设银行和交通银行均于 2025年6月27日召开的2024年度股东大会上，审议批准了关于修订公司章程以及不再设立监事会的相关 议案。各家银行表示，陆续于近日收到了国家金融监督管理总局同意章程修订的批复文件。 随着新章程获得监管核准，相关调整正式生效。中国银行、农业银行在章程核准之日起即不再设立监事 会；建设银行和交通银行则明确了具体的生效日期，分别为2025年9月23日和9月25日。改革的核心内容 是，原由监事会行使的、依 ...