Core Insights - The mobile banking app has become a core platform for commercial banks to serve users, optimize experiences, and enhance competitiveness in the context of national digital transformation and financial technology innovation [1] - The market for mobile banking apps is entering a stage of stock competition, with user flow stabilizing between 650 million to 700 million from 2023 to 2025, indicating saturation [2] - User engagement with mobile banking apps is declining, necessitating refined operational strategies for banks to retain customers [4][6] User Flow and Behavior - The overall user flow of mobile banking apps in China is projected to fluctuate between 650 million and 700 million, with a change rate of -1.2% to 4.6% from 2023 to 2025, indicating market saturation [2] - User stickiness has significantly decreased, with average daily effective usage time dropping from 4.93 minutes to 2.70 minutes and daily usage frequency from 4.54 times to 2.86 times [4] Operational Strategies - Refined operations are essential for banks to break through in a saturated market, focusing on precise user insights and intelligent technology applications [6][7] - The strategy involves three layers: foundational user insights, scenario-based and differentiated operations, and establishing emotional connections with users [7] AI Integration - AI technology is recognized for its potential value across industries, aiding banks in refining operations by enhancing interactive experiences, risk management, and data efficiency [9] Rankings and Performance - The top 50 rankings show that state-owned banks dominate, with Agricultural Bank of China leading with an average MAU of 24.8 million, followed by Industrial and Commercial Bank of China and China Construction Bank [11][12] - Among joint-stock commercial banks, China Merchants Bank leads with over 7 million MAU, while many others face declining user engagement [16][17] - City commercial banks have shown strong performance, with Jiangsu Bank leading at 3.5 million MAU, and several banks achieving significant growth rates [19][20] Case Studies of Successful Apps - Agricultural Bank of China continues to lead the industry with a 4.8% increase in MAU, focusing on integrating financial services with daily life scenarios [28][29] - China Merchants Bank is recognized for its innovative digital services, maintaining its position as a leader among joint-stock banks [31] - Jiangsu Bank emphasizes the integration of digital capabilities with wealth management, enhancing its app to meet customer needs [33] - Beijing Bank's app showcases a digital transformation strategy that combines technology, scenarios, and services to create value [35]

Core Viewpoint - The article argues that securitization is not an effective method for disposing of non-performing loans, despite being a financing tool [2][10]. Summary by Sections Securitization Example - Postal Savings Bank issued a securitized product based on personal credit non-performing consumer loans, with a total of 18,529 loans and 8,675 borrowers involved [3][4]. - The total principal amount of the underlying assets was 1.11 billion yuan, with an expected recovery of 237.33 million yuan over 33 months [3][4]. Issuance Details - The securitized product had a total issuance amount of 182 million yuan, with a senior tranche of 142 million yuan at a fixed interest rate of 2.38% [4][5]. - The expected maturity date for the senior tranche is January 26, 2024, with a legal maturity date of April 26, 2028 [5]. Recovery and Issuance Discrepancies - The article questions why only 182 million yuan was issued against a principal of 1.11 billion yuan, highlighting that the loans are non-performing and not all can be recovered [7]. - It also discusses why the expected recovery of 237 million yuan led to an issuance of only 182 million yuan, emphasizing the need to account for costs and investor returns [7]. Investor Interest - Investors are willing to purchase the securitized product because the expected recovery exceeds the amount invested, providing a potential profit margin [8]. Bank's Motivation for Securitization - The bank benefits from reducing its non-performing loan balance and receiving upfront cash from the securitization, which can enhance profits if the loans have been fully provisioned [9]. Critique of Securitization - The article argues that the cash received from securitization may be less than what could be recovered through traditional collection methods, especially when considering the transitional period where funds are not accessible to the bank [11][15]. - It highlights that the supposed time advantage of receiving cash earlier through securitization does not hold up under scrutiny, as the bank cannot freely use funds collected during the transitional period [15][17]. Alternative Solutions - The article suggests that traditional methods like write-offs and collections could effectively replace securitization, as they do not incur the same costs and risks associated with securitization [20][22]. - It emphasizes that banks can still manage their non-performing loans effectively without resorting to securitization, which may lead to negative impacts on profitability and loan classification [24][26].

商银行修改公司章程的批复》（金复〔2025〕 564号）。国家金融监督管理总局已核准本行修 订后的公司章程。修订后的公司章程全文请参 见上海证券交易所网站（www.sse.com.cn）和 本行网站（www.icbc-ltd.com）。《中国工商 银行股份有限公司股东会议事规则（2025年 版）》《中国工商银行股份有限公司董事会议 事规则（2025年版）》《中国工商银行股份有 限公司董事会提名委员会工作规则（2025年 版）》和《中国工商银行股份有限公司董事会 薪酬委员会工作规则（2025年版）》等同步生 效。 自公司章程核准之日起，本行监事会及监事依 法撤销,《中国工商银行股份有限公司监事会 议事规则》同时废止。黄力先生、张杰先生和 刘澜飚先生不再担任本行监事,已确认与本行 无不同意见，亦无任何其他相关事项需要通知 本行股东及债权人。本行对各位监事在任职期 9月25日晚间，工商银行、中国银行、农业银行、建设银行、交通银行相继发布公告，宣布公司章程修订已获得监管核准，不再设立监事会。 具体来看，工商银行公告显示，该行于2025年6月27日召开的2024年度股东年会审议批准了《关于审议及撤销监事会相关事项的议案 ...

Core Viewpoint - Postal Savings Bank of China Qingdao Branch is actively promoting financial education to enhance public awareness of financial risks and consumer rights, aligning with the "Finance for the People" philosophy [2][3][9]. Group 1: Financial Education Initiatives - The bank is conducting a financial education week from September 15 to 21, 2025, themed "Protecting Financial Rights, Supporting a Better Life" [2]. - A special task force has been established to implement detailed plans focusing on four core objectives: popularizing financial knowledge, warning about financial risks, optimizing financial services, and promoting a culture of integrity [3]. - The bank emphasizes a tailored approach to financial education, adapting strategies to local economic characteristics and demographics [3][4]. Group 2: Targeted Outreach - The bank is focusing on key demographics, including the elderly and youth, to provide tailored financial education and risk awareness [4][5]. - Activities include anti-fraud campaigns in communities, targeting common scams affecting seniors, and educating students about online fraud [4][5]. - The "Village-to-Village" initiative aims to extend financial knowledge to rural areas, addressing gaps in financial services and consumer rights protection [6]. Group 3: Innovative Communication Methods - The bank is exploring immersive and interactive educational formats to engage the public more effectively [7]. - Digital channels and social media are being utilized to disseminate financial knowledge through engaging content, including short dramas and live Q&A sessions [8]. - The bank's mobile app provides real-time risk warnings during critical transactions, enhancing consumer protection [8]. Group 4: Risk Awareness and Consumer Protection - The bank is actively working to raise awareness about financial fraud and misleading marketing practices, particularly among vulnerable groups [9]. - Emphasis is placed on adhering to the "three appropriateness" principle in financial marketing to ensure suitable products are offered to the right customers [9]. - The bank aims to build a trustworthy financial ecosystem by promoting consumer rights and enhancing service quality [10].

【导读】国有六大银行同日官宣，不再设立监事会 中国基金报记者 嘉合 9月25日晚间，工商银行、中国银行、农业银行、建设银行、交通银行相继发布公告，宣布公司章程修订已获得监管核准，不再设立监事会。 具体来看，工商银行公告显示，该行于2025年6月27日召开的2024年度股东年会审议批准了《关于审议及撤销监事会相关事项的议案》，并于近日收到 《国家金融监督管理总局关于工商银行修改公司章程的批复》，核准该行修订后的公司章程。 工商银行表示，自公司章程核准之日起，该行监事会及监事依法撤销，《中国工商银行股份有限公司监事会议事规则》同时废止。黄力、张杰和刘澜飚不 再担任该行监事，已确认与该行无不同意见，亦无任何其他相关事项需要通知该行股东及债权人。 中国银行公告显示，近日，该行收到国家金融监督管理总局核准该行公司章程修订的批复。自公司章程修订获核准之日起，根据公司章程规定，该行不再 设立监事会，由董事会审计委员会行使《中华人民共和国公司法》及其他法律、监管法规规定的监事会职权；魏晗光、贾祥森、惠平、储一昀不再担任该 行监事。 中国工商银行股份有限公司(简称本行) 于 2025年6月27日召开的2024年度股东年会审议 ...

【导读】国有六大银行同日官宣，不再设立监事会 中国基金报记者 嘉合 9月25日晚间，工商银行、中国银行、农业银行、建设银行、交通银行相继发布公告，宣布公司章程修 订已获得监管核准，不再设立监事会。 具体来看，工商银行公告显示，该行于2025年6月27日召开的2024年度股东年会审议批准了《关于审议 及撤销监事会相关事项的议案》，并于近日收到《国家金融监督管理总局关于工商银行修改公司章程的 批复》，核准该行修订后的公司章程。 中国工商银行股份有限公司(简称本行) 于 2025年6月27日召开的2024年度股东年会审议 批准了《关于审议<中国工商银行股份有限公司 章程(2025年版) >及撤销监事会相关事项的 议案》。 工商银行表示，自公司章程核准之日起，该行监事会及监事依法撤销，《中国工商银行股份有限公司监 事会议事规则》同时废止。黄力、张杰和刘澜飚不再担任该行监事，已确认与该行无不同意见，亦无任 何其他相关事项需要通知该行股东及债权人。 中国银行公告显示，近日，该行收到国家金融监督管理总局核准该行公司章程修订的批复。自公司章程 修订获核准之日起，根据公司章程规定，该行不再设立监事会，由董事会审计委员会行使《中 ...

【 导读 】国有六 大银行同日官宣，不再设立监事会 中国基金报记者 嘉合 9月25日晚间，工商银行、中国银行、农业银行、建设银行、交通银行相继发布公告，宣布公司章程修订已获得监管核准，不再设立监事 会。 具体来看，工商银行公告显示，该行于2025年6月27日召开的2024年度股东年会审议批准了《关于审议及撤销监事会相关事项的议 案》，并于近日收到《国家金融监督管理总局关于工商银行修改公司章程的批复》，核准该行修订后的公司章程。 确性和完整性承担法律责任。 中国工商银行股份有限公司（简称本行）于 2025年6月27日召开的2024年度股东年会审议 批准了《关于审议<中国工商银行股份有限公司 章程（2025年版）>及撤销监事会相关事项的 议案》。 近日.本行收到《国家金融监督管理总局关于工 商银行修改公司章程的批复》（金复〔2025〕 564号）。国家金融监督管理总局已核准本行修 订后的公司章程。修订后的公司章程全文请参 见上海证券交易所网站（www.sse.com.cn）和 本行网站（www.icbc-ltd.com）。《中国工商 银行股份有限公司股东会议事规则（2025年 版）》《中国工商银行股份有限公司董事 ...

Investment Rating - The investment rating for the banking industry is "Positive" (maintained) [1] Core Insights - The banking sector is experiencing a shift in fund investment behavior, with banks redeeming low-yield money market funds and increasing their holdings in credit bond funds to enhance returns [5][57] - The total fund holdings of listed banks reached approximately 6.37 trillion yuan, accounting for 2.03% of total assets as of the end of the first half of 2025 [15][18] - The proportion of fund investments in the fair value through profit or loss (FVTPL) category is 48.5%, with city commercial banks showing even higher ratios [15][22] Summary by Sections 1. Fund Investment Participation and Scale - The self-managed fund holdings of listed banks as of June 2025 were approximately 6.37 trillion yuan, with shareholding banks and city commercial banks having significant investment scales of 2.84 trillion yuan and 1.72 trillion yuan, respectively [15][18] - The investment in money market funds decreased to 9.10%, while the proportion of passive index bond funds increased to 7.90% [23][25] 2. Changes in Fund Investment Behavior - Banks are redeeming money market funds and low-yield rate bond funds while increasing their investment in credit bond funds [5][57] - The redemption pressure for money market funds was primarily concentrated in the first quarter of 2025, driven by liquidity management needs and yield enhancement [49][55] 3. Future Expansion and Impact of Redemption Fee Reform - Smaller banks have greater expansion potential in fund investments, driven by the need for redundant fund screening and tax-exempt income [3][3] - The implementation of redemption fee reforms may catalyze preventive redemptions by banks, leading to a preference for customized bond funds and bond ETFs [3][3]

Core Insights - The meeting focused on enhancing the "Digital Federation of Industry and Commerce" platform to improve financial services for private enterprises, addressing the challenges of financing difficulties and delays [1][3]. Group 1: Platform Development - Six financial institutions recognized the platform as a vital link between government, banks, and enterprises, suggesting increased promotion, diversified financial products, and optimized platform functions to provide digital financial services to more businesses [3]. - The government aims to replace traditional one-on-one banking interactions with efficient "checklist-style" services through the platform, enhancing service response efficiency and ensuring that financial products reach target enterprises directly [4]. Group 2: Collaborative Efforts - There is a strong emphasis on inter-departmental and inter-bank collaboration to ensure effective policy implementation, with a focus on establishing a regular communication mechanism among the financial office, industry associations, and banks [4]. - Financial institutions are encouraged to share information and provide specialized guidance to assist enterprises in using the platform effectively, ensuring a coordinated approach to service delivery [4]. Group 3: Financial Product Optimization - Banks are urged to innovate and optimize their financial product offerings to cater to the diverse needs of enterprises at different growth stages and in various industries, ensuring that all eligible businesses can access necessary financing [4]. - The goal is to enhance the quality and efficiency of financial services, thereby supporting enterprise development and contributing to the overall economic growth of the region [5].

Core Insights - Postal Savings Bank of China (PSBC) Jin Hua Branch has provided a technology credit loan of 28 million yuan to Zhejiang Hengcheng Hard Alloy Co., Ltd., a private enterprise specializing in tungsten products, to alleviate financial pressure due to increased inventory and production costs [1][2] - The PSBC Jin Hua Branch has launched technology credit loans to address the financing difficulties faced by "specialized, refined, and innovative" enterprises, which often lack traditional collateral [2] Group 1 - Zhejiang Hengcheng Hard Alloy Co., Ltd. is a "specialized, refined, and innovative" private enterprise engaged in the research, production, and sales of tungsten products [1] - The company faced significant financial pressure with an average inventory investment of nearly 10 million yuan per production line due to increased product inventory [1] - The PSBC Jin Hua Branch's technology credit loan program allows for unsecured loans, with the maximum credit limit reaching 100 million yuan, thereby broadening financing options for technology-based enterprises [2] Group 2 - As of August 2025, the PSBC Jin Hua Branch has issued over 5.1 billion yuan in loans to "specialized, refined, and innovative" and technology enterprises, reflecting a growth rate of over 14% [2] - The Jin Hua region is accelerating the construction of a modern industrial system, focusing on ten key industrial chains to foster new productive forces and develop a strong advanced manufacturing city [2] - The PSBC Jin Hua Branch is committed to enhancing financial support for private advanced manufacturing and small to medium-sized enterprises, contributing to the local economy and the development of key industrial chains [2]