华夏时报记者 卢梦雪 见习记者 林佳茹 北京报道 消费贷贴息政策正在向地方层面纵深推进。 近期，四川、重庆、贵州等多地陆续启动省级贴息工作，首次将地方中小银行纳入经办机构范围，标志 着"国补"政策在地方进一步细化落地。重庆银行、成都银行、贵州银行等多家银行已迅速发布贴息细 则，助力本地消费市场升温。 南开大学金融学教授田利辉向《华夏时报》表示，此举实现了"精准滴灌与金融毛细血管激活的双向强 化"。地方中小银行扎根区域，能精准对接县域及社区消费需求，填补全国性机构服务盲区，助力政策 触达"最后一公里"。这也折射出金融供给侧改革的持续深化——中小银行正借此加快零售转型，构 建"国补引领、地补补充"的协同格局，推动消费金融进一步走向场景化与数字化融合。 中小银行助力消费贷落地 进入12月，地方层面的贴息动作密集落地。四川、重庆、贵州率先启动省级贴息工作，将地方中小银行 纳入消费贷贴息经办机构范围。 12月2日，四川省财政厅等六部门发布《关于落实巩固拓展经济回升向好势头的财政金融政策有关事项 的通知》，明确2025年10月1日至2026年3月31日期间，居民在国家指定银行外的在川银行获取个人消费 贷款（不含信用卡业务 ...

12月11日至13日，2025第十四届上市公司发展年会暨海南自贸港开放机遇交流大会系列活动在海口举 行。成都银行（601838）（601838. SH）凭借在社会责任领域的卓越实践与突出贡献，从众多参评企业 中脱颖而出，荣膺"最具社会责任上市公司"。 据悉，本届评选恪守客观、公正原则，历经公众提名、舆情筛查、大数据模型初选、公众投票及专家评 审等多重环节，并依托权威金融数据平台与AI技术，构建了"权威数据+透明算法"的双轨评价体系。此 次获评，不仅是对成都银行积极履行社会责任、真诚回馈社会的充分肯定，更是对其将责任基因深度融 入发展战略、转化为持续发展动力的高度认可。 作为四川省首家上市银行，成都银行始终秉承"与客户共发展、与员工共成长、与城市共繁荣"的使命， 自2018年登陆A股市场以来，更是将社会责任内化于稳健经营、外化于服务实践。通过扎实的业绩增 长、优质的资产质量与持续的金融供给，不断夯实服务实体经济、增进民生福祉的根基，生动诠释了一 家公众上市银行的时代担当与价值追求。 责任厚度 卓越经营铸就坚实根基 以发展为尺，成都银行不仅追求规模的跨越，更致力于长期价值的塑造。 近年来，该行持续探索差异化、特色 ...

Core Insights - The article highlights the top 20 stocks in the S&P China A-Share Dividend Opportunity Index (CSPSADRP) based on their performance and dividend yield as of December 15, 2025 [1][4] Group 1: Stock Performance - The top-performing stock is LuRi Co., Ltd. (002083.SZ) with a daily increase of 10.03% and a year-to-date increase of 138.01% [1][4] - Dai Mei Co., Ltd. (603730.SH) ranks second with a daily increase of 3.58% and a year-to-date increase of 22.61% [1][4] - Changbao Co., Ltd. (002478.SZ) follows with a daily increase of 3.24% and a year-to-date increase of 69.53% [1][4] Group 2: Dividend Yields - Jiangsu Jinzhong (600901.SH) offers the highest dividend yield among the top 20 stocks at 6.70% [1][4] - Other notable dividend yields include Changsha Bank (601577.SH) at 6.54% and Huaxia Bank (600015.SH) at 5.97% [1][4] - The average dividend yield for the top 20 stocks varies, with several companies offering yields above 5% [1][4] Group 3: Additional Stock Insights - The performance of stocks like Midea Group (000333.SZ) shows a year-to-date increase of 12.77% despite a daily increase of only 1.37% [1][4] - Some stocks, such as Oppein Home Group (603833.SH), have experienced a year-to-date decline of 22.63% [1][4] - The data reflects a diverse range of performance and dividend strategies among the top stocks in the index [1][4]

Investment Rating - The report maintains an "Overweight" rating for the securities and banking sectors, while suggesting a cautious approach towards the insurance sector [9]. Core Insights - The report highlights a recovery in trading activity, with stock trading volume exceeding 2 trillion yuan over two trading days, and financing balances reaching a new high of 2.49 trillion yuan [1][12]. - The Central Economic Work Conference reiterated a proactive fiscal policy and moderately loose monetary policy stance, emphasizing the need for continued deepening of capital market reforms [1][23]. - The report expresses optimism regarding the performance of insurance products during the "opening red" period, although it notes that this is not the primary driver of valuation [1][46]. Summary by Sections Investment Opportunities - The report identifies investment opportunities in the following order: securities > banking > insurance [1][12]. - The trading activity has rebounded, with significant increases in stock transaction volumes and financing balances [1][12]. Sub-industry Perspectives 1. **Securities**: The report notes a high level of trading activity and a recovery in financing balances, suggesting a favorable environment for brokerage firms [2][13]. 2. **Banking**: The report indicates that the banking sector is seeing improved cost-effectiveness and suggests focusing on high-quality banks for structural opportunities [2][23]. 3. **Insurance**: The report advises caution due to uncertainties in market liquidity and sector rotation, recommending a focus on stable combinations [2][46]. Key Companies and Dynamics - **Securities**: Recommended companies include CITIC Securities, Guotai Junan, and GF Securities [3][47]. - **Banking**: Suggested quality stocks include Nanjing Bank, Chengdu Bank, and Shanghai Bank [3][47]. - **Insurance**: The report recommends focusing on stable companies such as AIA, Ping An, and China Pacific Insurance [46].

12月9日，重庆农村商业银行发布的《关于个人消费贷款财政贴息工作的公告》显示，2025年9月1日至 2026年8月31日期间，居民个人使用该行重庆区域经办机构发放的个人消费贷款中实际用于消费，且该 行可通过贷款发放账户等识别借款人相关消费交易信息的部分，可按规定享受贴息政策。 近期，四川、贵州、重庆三地出台相关文件，推动当地区域性银行推进个人消费贷款贴息政策的组织实 施工作，助力当地提振消费。12月以来，除重庆农村商业银行外，重庆银行（601963）、重庆三峡银 行、成都银行（601838）、成都农商银行、贵州银行、黔西农商银行等陆续公布个人消费贷款财政贴息 政策实施方案，启动业务受理。这也意味着，个人消费贷贴息政策的贷款经办机构除了6家国有大型商 业银行、12家全国性股份制商业银行以及5家其他个人消费贷款发放机构外，区域性银行也加入了个人 消费贷贴息阵营。 记者亦注意到，区域性银行贴息政策要求较多，也较为严格。例如，有的银行要求消费交易需在贷款发 放后30天内完成等。 贴息细则 2025年8月，财政部、中国人民银行、金融监管总局印发《个人消费贷款财政贴息政策实施方案》（下 称《实施方案》），明确对符合条件的 ...

从资金流向上来看，当日城商行板块主力资金净流出908.98万元，游资资金净流出2.21亿元，散户资金 净流入2.3亿元。城商行板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 证券之星消息，12月12日城商行板块较上一交易日下跌0.23%，杭州银行领跌。当日上证指数报收于 3889.35，上涨0.41%。深证成指报收于13258.33，上涨0.84%。城商行板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600926 | 杭州银行 | 15.12 | -0.92% | 54.36万 | 8.24亿 | | 601665 | 齐鲁银行 | 5.63 | -0.71% | 116.50万 | 6.57亿 | | 002948 | 青岛银行 | 4.58 | -0.65% | 37.01万 | 1.69亿 | | 601963 | 重庆银行 | 10.84 | -0.64% | 1 ...

此次增持并非偶然，而是股东对成都银行区域竞争力与经营基本面的深度认可。 作为成都银行实际控制人成都市国资委控制的核心股东，成都产业资本集团与成都欣天颐早在今年4月9日就公告，拟在未来6个月内以不超过17.59元/股价 格增持股份，合计增持下限为3979.44万股、占成都银行总股本的0.939%，上限为7958.87万股、占总股本的1.878%。 但公告发出后，成都银行股价持续上行，公司8月9日公告调整增持方案：上述两增持主体的增持价格不再设定价格区间，增持金额合计不低于69998.27万 元，不高于139,996.53万元。其中，成都欣天颐拟增持的金额合计不低于44,732.45万元，不超过89,464.89万元；成都产业资本集团拟增持的金额合计不低于 25,265.82万元，不超过50,531.64万元。 于是，这才有了上述的增持动作。公告显示，8月27日-11月21日，成都产业资本集团通过集合竞价累计增持成都银行股份1404.48万股、增持金额2.53亿元； 成都欣天颐增持2020.22万股、增持金额3.58亿元。增持完成后，二者持股分别升至6.0618%和4.2737%。且公告明确，增持尚未完成，后续将 ...

个人消费贷贴息阵营扩大，黔、川、渝等地城农商行入局！ 12月以来，贵阳银行、贵州银行、成都银行、成都农商行、黔西农商银行等区域性城农商行陆续发布公告，推 进个人消费贷款贴息政策的实施工作。这也意味着，"国补"经办银行从原来的23家金融机构扩容至区域性中小 银行。 业内人士指出，地方消费贷贴息政策响应国家政策号召，有利于提振地方消费活力，除黔川渝外，其他省份或 将陆续跟进，与区域性中小银行等金融机构形成合力，拉动消费信贷市场与释放潜力。 黔川渝金融机构陆续公告 贵阳银行发布的关于个人消费贷贴息工作的公告显示，根据贵州省委金融办、贵州省财政厅、省民政厅、国家 金融监督管理总局贵州监管局等部门联合发布的《贵州省地方法人城市商业银行和农信系统消费贷款贴息实施 细则》（以下简称《细则》）精神及相关要求，该行自2025年12月1日至12月31日，可受理符合条件的消费贷 款客户申请贴息。 根据《细则》，不仅仅是贵阳银行、贵州银行等地方法人城市商业银行，贵州农信系统金融机构也被纳入个人 消费贷贴息工作的经办机构。据记者梳理，截至目前，黔西农商银行、花溪农商银行、沿河农信联社等贵州农 信机构均发布了个人消费贷贴息的办理通知。 ...

Investment Rating - The report assigns an "Overweight" rating for the banking sector [7]. Core Insights - The report emphasizes the significant improvement in the cost of liabilities for banks in 2025, with a notable decrease of 28 basis points (bp) in the first half of the year, compared to only 4 bp in the same period last year. This improvement is primarily driven by reductions in deposit and interbank liabilities costs, contributing 19 bp and 7 bp respectively [3][11]. - The net interest margin (NIM) is expected to decline by approximately 5 bp in 2026, with the downward pressure on margins continuing to ease marginally, suggesting that some banks may stabilize their NIMs [2][10]. Summary by Sections 1. Liability Cost Improvement in 2025 - The first half of 2025 saw a significant reduction in the cost of interest-bearing liabilities, with the cost rate dropping to 1.70%, a decrease of 28 bp from 2024. This was supported by improvements in both deposit and interbank liability costs [11]. 2. Liability Side: Deposit Maturity and Repricing Benefits 1) **Term Structure**: The proportion of long-term deposits entering the repricing cycle has increased, with the share of deposits with a remaining maturity of 1-5 years declining by 1.5 percentage points (pct) to 22.6% by the end of Q2 2025. Some banks, such as those in Ningbo and Chongqing, experienced declines exceeding 10 pct [4]. 2) **Price Factors**: Regulatory focus on maintaining reasonable NIM levels has increased, with expectations of further interest rate cuts. The maximum reduction for three-year deposits could exceed 100 bp, indicating substantial room for cost improvement [5]. 3. Asset Side: Yield Pressure Expected to be Better than 2025 1) **Loans**: The repricing pressure on loans is expected to ease, with the five-year Loan Prime Rate (LPR) declining by only 10 bp in 2025, significantly less than the 50 bp drop the previous year [6]. 2) **Debt Replacement**: The shift from high-interest to low-interest debt is anticipated to have a limited impact on net interest margins, estimated to drag down margins by about 4 bp [6]. 3) **Bond Maturity**: The widening gap between new bond issuance rates and existing bond yields is expected to exert downward pressure on investment yields, with an estimated drag of 6 bp on margins from the reallocation of bonds maturing within one year [6]. 4. NIM Projections - The report forecasts a 5 bp decline in NIM for 2026, with the downward trend continuing to converge. The asset yield is expected to decrease by 17 bp, while the cost of liabilities is projected to improve by 13 bp, with deposit costs improving by 17 bp [7][10].

【深圳商报讯】（首席记者 谢惠茜）近日，国家金融监督管理总局官网公开信息显示，因对相关贷 款、存款、贴现、票据业务管理不审慎等违规行为，成都银行（601838）被罚款90万元，同时，其旗下 绵阳分行、眉山分行、天府新区分行、都江堰支行、成华支行、双流支行等15家分支行被罚款合计635 万元，作出处罚机关为四川金融监管局。 四川金融监管局还对孙洵、艾志伟、袁勇、严勇军、李丹、刘峰、向蕾、雷建华、杨毅、邱黎源、蒋 瑛、樊蕊、杨琼等13名相关责任人警告并罚款合计73万元。公开信息显示，其中多数被罚人员为相关分 支行行长。 这并非成都银行今年首次收到监管罚单。今年1月份，证监会四川监管局官网披露行政监管措施，成都 银行因基金销售业务存在内部控制制度不健全、部分基金销售人员未取得基金从业资格、内部考核机制 不健全等情况，被出具警示函；今年9月，因违规办理经常项目付汇业务，成都银行股份有限公司宜宾 分行被国家外汇管理局宜宾市分局罚款并没收违法所得，罚没款金额为25.2万元。 公开资料显示，成都银行成立于1996年12月，是四川省首家上市银行、全国第8家A股上市城市商业银 行，曾引入马来西亚丰隆银行作为境外战略投资合作伙伴 ...