Core Points - The Dazhong Financial Regulatory Bureau approved the appointment of Cui Gang as the president of the Shanxi branch of Bank of Communications [1] - The approval requires the appointee to comply with financial regulatory requirements and to report their appointment status within ten working days after taking office [1] - The bank is mandated to ensure that the appointee continues to learn relevant economic and financial laws and regulations, and to maintain a strong awareness of risk compliance [1]

Core Viewpoint - The article highlights the expansion of the foreign exchange trading synchronization settlement mechanism in China's interbank market, with the China Foreign Exchange Trading Center offering information transmission services to overseas and free trade zone investors for the first time [1] Group 1: Service Expansion - The China Foreign Exchange Trading Center has launched cross-border foreign exchange trading synchronization settlement services, covering the renminbi and eight major foreign currencies [1] - This service includes various transactions such as domestic and free trade zone renminbi foreign exchange, foreign currency pairs, foreign currency repos, foreign currency lending, and currency swaps [1] Group 2: Role of Bank of Communications - Bank of Communications is the first foreign currency settlement bank to provide agency services, successfully completing synchronized settlement of renminbi foreign exchange transactions for overseas institutions [1] - The bank plays a crucial role in enhancing the efficiency of the foreign exchange market by ensuring that the two currencies involved in a transaction are settled simultaneously [1] Group 3: Technological and Operational Advancements - The bank utilizes a multi-account system, including FT accounts and NRA accounts, to facilitate rapid cross-border settlement of foreign exchange transactions within seconds [1] - The initiative aims to optimize the construction and system functionality of the interbank market's foreign exchange trading synchronization settlement mechanism [1]

Core Viewpoint - The A-share market experienced a widespread decline in bank stocks, with notable drops in several major banks [1] Group 1: Market Performance - Shanghai Pudong Development Bank saw a decline of over 5% [1] - Other banks such as Minsheng Bank, Chongqing Rural Commercial Bank, Xi'an Bank, Jiangyin Bank, Jiangsu Bank, Zhangjiagang Bank, Shanghai Bank, Everbright Bank, Wuxi Bank, Bank of Communications, and China Construction Bank all experienced declines of over 1% [1]

Core Viewpoint - The financial regulatory bodies in China are focusing on risk prevention and enhancing financial services to support the real economy, as outlined in the spirit of the 20th National Congress of the Communist Party of China [1][2][4]. Financial Regulatory Focus - The central bank and financial regulatory authorities emphasize the importance of risk prevention and the establishment of a comprehensive financial risk management system [2][4]. - The next phase of work will prioritize enhancing financial services for the real economy, particularly in areas such as technology innovation, consumption stimulation, and support for small and micro enterprises [1][2][4]. Key Work Areas - The People's Bank of China (PBOC) has identified five key areas for future work: maintaining centralized leadership in financial work, developing a robust monetary policy framework, enhancing macro-prudential management, deepening supply-side structural reforms, and promoting high-level financial openness [2][3][4]. - Financial institutions are encouraged to align their strategies with national goals, focusing on the "Five Major Articles" to improve financial service quality and adaptability [4][5]. Progress in Financial Services - As of Q3 2025, the balance of inclusive small and micro loans reached 36.09 trillion yuan, with a year-on-year growth of 12.2%, outpacing overall loan growth by 5.6 percentage points [8]. - Green loans also saw significant growth, with a balance of 43.51 trillion yuan, reflecting a 17.5% increase since the beginning of the year [8][9]. Institutional Responses - Major state-owned banks and policy banks are actively implementing strategies to support national priorities, including food security, rural development, and ecological sustainability [5][6][7]. - Insurance companies are also aligning their strategies with the national agenda, focusing on enhancing support for technology innovation and green development [6][7]. Digital Transformation and Innovation - Banks are increasingly adopting digital transformation and AI applications to improve service efficiency across various functions, including credit assessment and customer service [10]. - The banking sector is also focusing on developing pension financial products to cater to the aging population, with initiatives aimed at enhancing the pension service system [10].

会议强调，要深刻领会全会对当前形势和任务的科学研判，全力以赴完成年度目标任务，为巩固拓 展经济回升向好势头贡献力量。牢固树立正确的经营观、业绩观、风险观，坚持合规展业，保持业务平 稳有序、健康发展。要提前谋划明年工作，完成好岁末年初重点任务。 责任编辑：韩胜杰 本报讯 记者左希报道 10月24日，交通银行召开党委扩大会议，传达学习党的二十届四中全会精 神，按照金融系统学习贯彻党的二十届四中全会精神会议的工作要求，部署贯彻落实工作。交通银行党 委书记、董事长任德奇主持会议并讲话。 会议要求，要对标对表全会部署要求，以国家"十五五"规划为指引，高质量编制好交行"十五五"规 划。全面总结"十四五"时期改革发展经验成果，做到"六个坚持"，突出目标导向、问题导向，加紧谋划 重大战略命题。要坚持以习近平新时代中国特色社会主义思想凝心铸魂，坚持党中央对金融工作的集中 统一领导，坚定不移走好中国特色金融发展之路。要坚持问计于民，全方位、多维度征求意见建议，把 社会企盼、群众智慧、专家意见、基层经验充分吸收到交行"十五五"规划编制中来。要坚持一张蓝图绘 到底，进一步校准战略方向、突出战略重点、打造战略特色。要常态化长效化推进中 ...

Core Points - The Hong Kong Securities and Futures Commission (SFC) has banned Zheng Lihao, a former employee of Bank of Communications and Bank of Communications (Hong Kong), from re-entering the industry for seven months, effective from October 27, 2025, to May 26, 2026 [1] - The SFC's investigation revealed that Zheng failed to disclose multiple personal securities trading accounts held in his name at other financial institutions from April 2017 to April 2022 [1] - Zheng conducted over 260 personal transactions through a margin account at an external bank without disclosing his personal interests to Bank of Communications, violating the bank's employee trading policies [1][2] Summary by Sections - **Disciplinary Action**: The SFC has taken disciplinary action against Zheng due to his failure to comply with disclosure requirements and for making false statements regarding his adherence to the bank's trading policies [1][2] - **Duration of Violations**: Zheng's misconduct lasted for over five years, raising serious concerns about his suitability to perform regulated activities [2] - **Cooperation and Past Record**: The SFC considered Zheng's cooperation in addressing the concerns raised and noted that he had no prior disciplinary record when deciding on the sanctions [2]

Group 1: Monetary Policy - The report emphasizes the implementation of a moderately loose monetary policy to create a suitable financial environment for economic recovery [2][3] - The People's Bank of China (PBOC) has injected liquidity into the banking system, with a recent announcement of 900 billion yuan in medium-term lending facility (MLF) operations [2][3] - The PBOC aims to maintain ample liquidity and support government bond issuance and bank credit [2][3] Group 2: Financial Regulation - The report highlights the need to strengthen and improve financial regulation to enhance regulatory quality and effectiveness [4][5] - Major banks have adopted a common principle of "preventing risks, strengthening regulation, and promoting high-quality development" [5] - A multi-layered risk control network is being established within the banking system to ensure compliance and risk management [4][5] Group 3: Support for the Real Economy - The report stresses the importance of providing high-quality financial services to support the real economy and continuing structural reforms in financial supply [6][7] - From November 2024 to September 2025, A-shares saw 98 companies go public, raising 91.8 billion yuan, with 86% being private enterprises [6] - Major banks are committed to enhancing financial services for the real economy, focusing on sectors like advanced manufacturing and rural finance [6][7] Group 4: Risk Prevention - The report emphasizes the need to prevent and mitigate financial risks in key areas while maintaining systemic financial stability [8][9] - Banks are focusing on balancing development and safety, with a commitment to comprehensive risk management [9] - The banking sector has seen a reduction in the number of institutions and an improvement in asset quality, with non-performing loan ratios decreasing to 1.49% [9] Group 5: Financial Opening - Banks are actively pursuing international competitiveness and enhancing global service capabilities [10] - The China Bank aims to support the internationalization of the yuan and contribute to the Belt and Road Initiative [10] - Major banks are emphasizing the importance of both "going out" and "bringing in" in their strategies for high-level financial openness [10]

Core Viewpoint - The article discusses the launch of the "Jiao Yin Yun Tong · Guan Zhang" brand service by Bank of Communications, focusing on enhancing corporate payment and settlement services to address pain points such as diverse settlement tools, low reconciliation efficiency, and challenging fund supervision, thereby transitioning from a traditional service provider to a scene ecosystem enabler [1][4]. Group 1: Conceptual Innovation - The service aims to drive integrated management upgrades through the concept of business-finance integration, responding to the evolving demands of enterprises in the digital economy [3][4]. - It establishes a data-driven management system that integrates "scene, customer, account, and funds," forming a unique "3+4" service model [4]. Group 2: Product Empowerment - The "Yun Tong Guan Zhang" service offers a one-stop solution that highly coordinates funds, settlement, and operational management [6]. - It enhances core business scenarios by providing multi-channel, intelligent services for efficient fund processing, including seamless integration of online and offline transaction systems [7]. - The service includes comprehensive account management, automatic reconciliation, and fund supervision, ensuring clear transaction tracking and accurate fund allocation [8]. Group 3: Ecological Interconnection - The service introduces "scene+" financial solutions tailored to four key economic scenarios: real economy, livelihood economy, platform economy, and park economy [9][10]. - It supports the real economy by facilitating supply chain collaboration and operational efficiency across procurement, production, and sales [9]. - For the livelihood economy, it streamlines payment processes for public utilities and daily consumption, enhancing user convenience [9]. - In the platform economy, it provides flexible account management and efficient fund distribution solutions to meet the needs of various stakeholders [9]. - The park economy is addressed through unified payment and intelligent management, promoting digital financial services within modern park ecosystems [10]. Group 4: Market Reach - Bank of Communications has developed customized solutions for over 30 industries, serving nearly 160,000 government and enterprise clients, leveraging its extensive experience in the corporate payment and settlement sector [10].

Core Viewpoint - The announcement details the upcoming third-quarter performance briefing of Bank of Communications, scheduled for November 7, 2025, to provide investors with insights into the bank's operational performance for the first three quarters of 2025 [1][2]. Group 1: Event Details - The third-quarter report will be disclosed on October 30, 2025, on the Shanghai Stock Exchange and the bank's official website [2]. - The performance briefing will take place online from 15:00 to 16:00 on November 7, 2025, allowing for real-time interaction with investors [4][6]. - The event will feature participation from Vice President Zhou Wanfeng and Secretary of the Board He Zhaobin [7]. Group 2: Investor Participation - Investors can join the briefing by accessing the provided online link or scanning the QR code [3][6]. - A platform for submitting questions in advance will be available until 16:00 on November 6, 2025, to address common investor concerns during the briefing [4].

Group 1 - The fund is named "Fullgoal Zhi Heng Stable 90-Day Holding Period Mixed Fund of Funds (FOF)" and is set to be registered with the China Securities Regulatory Commission (CSRC) on September 28, 2025 [1] - The fund is a mixed fund of funds with a contract-based open-end operation method, and it has a minimum holding period of 90 days for each fund share [15][1] - The fund will be publicly offered from November 11, 2025, to December 1, 2025, with the possibility of adjusting the fundraising period based on subscription conditions [2][20] Group 2 - The fund's minimum subscription amount is set at RMB 10 (including subscription fees), with different minimum amounts for direct sales and additional subscriptions [3][25] - The fund's minimum total subscription amount is 200 million shares, equating to a minimum fundraising amount of RMB 200 million [21] - The fund is available for individual investors, institutional investors, qualified foreign investors, and other investors permitted by laws and regulations [17][22] Group 3 - The fund's sales institutions include both direct sales and agency sales, with the direct sales managed by Fullgoal Fund Management Co., Ltd. and agency sales by Bank of Communications Co., Ltd. [2][18] - Investors must open a fund account with the management company to subscribe to the fund, and only one account per investor is allowed [2][36] - The fund's shares are priced at RMB 1.00 per share, and the subscription fees for A-class shares will be calculated separately for each subscription application [16][32]