Core Viewpoint - The absence of 5-year large denomination certificates of deposit (CDs) from major state-owned banks reflects a trend in the banking sector towards shorter-term products and more precise liability management in a low interest rate environment [1][2][3] Group 1: Current Market Situation - Major banks including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank currently do not offer 5-year large denomination CDs [1] - Bank of China has issued at least 37 batches of personal large denomination CDs from 2016 to 2025, but since 2023, 5-year CDs are only available to specific clients rather than all personal customers [1] - Agricultural Bank of China has not issued 5-year large denomination CDs since 2022, focusing instead on products with terms of 3 years or less [2] Group 2: Interest Rate Dynamics - Some banks are experiencing a phenomenon where the interest rate for 5-year fixed deposits is lower than that for 3-year fixed deposits, indicating a "negative spread" [2] - As of the third quarter of this year, the net interest margin for commercial banks was 1.42%, showing a year-on-year decrease of 11 basis points, despite some banks stabilizing their margins [2] Group 3: Strategic Adjustments - Banks are adopting more refined strategies for liability management, including shortening deposit terms and offering differentiated deposit strategies targeting specific customer segments, particularly the elderly [3] - The elderly demographic, which accounts for over 70% of savings deposits, is being targeted with higher interest rates and lower minimum deposit thresholds, optimizing the banks' liability structure and reducing liquidity management pressure [3] - This approach not only enhances the banks' ability to attract stable long-term funds but also aligns with social responsibility by providing tailored services to older customers, thereby building brand trust and achieving a balance between commercial and social value [3]

Core Viewpoint - Banks are increasingly adjusting the risk levels of mutual fund products they distribute, with several banks, including China Construction Bank and Minsheng Bank, making multiple adjustments this year to align with market conditions and regulatory requirements [1][3][4]. Group 1: Bank Adjustments - China Construction Bank has announced a batch increase in the risk levels of 87 mutual fund products, marking the fourth adjustment this year [1][3]. - Minsheng Bank has also made four similar adjustments since October, with the latest announcement on November 18 regarding eight lower-risk fund products being raised to medium risk [1][3]. - Postal Savings Bank has adjusted the risk levels of 86 mutual fund products in two recent announcements [1][4]. Group 2: Reasons for Adjustments - The adjustments are attributed to a combination of mutual fund product characteristics, market conditions, and regulatory guidance, which aim to reduce the risk mismatch between investors and products [1][4]. - Changes in investment strategies and asset allocations of certain funds have increased their net value volatility, prompting institutions to reassess the risk-return alignment [4]. - Regulatory frameworks, such as the Asset Management New Regulations, are reinforcing the core requirement of "risk matching," compelling institutions to establish dynamic risk rating mechanisms [4][5]. Group 3: Future Implications - The adjustments may become a regular practice as banks are required to dynamically assess product risks to fulfill their suitability obligations and protect investor interests [5]. - Short-term impacts may lead conservative investors to redeem their investments due to increased risk levels, while long-term benefits include enhanced risk transparency and reduced risk mismatch [5][6]. - This shift is expected to drive the wealth management industry towards a service-oriented model, encouraging fund companies to improve their research and investment capabilities [5][6].

Group 1 - The core viewpoint of the article highlights the increasing normalization of banks adjusting the risk levels of mutual fund products they distribute, with several banks, including China Construction Bank, Minsheng Bank, and Postal Savings Bank, making multiple adjustments this year [1][2][3] - China Construction Bank announced a batch increase in risk levels for 87 mutual fund products, marking its fourth adjustment this year, with 32 products raised from R2 (medium-low risk) to R3 (medium risk) and 55 from R3 to R4 (medium-high risk) [2][3] - Minsheng Bank and Postal Savings Bank have also made similar adjustments, with Minsheng Bank raising the risk levels of eight low-risk fund products to medium risk, and Postal Savings Bank adjusting 86 mutual fund products in two recent announcements [2][3] Group 2 - The adjustments are attributed to a combination of factors including the characteristics of mutual fund products, market conditions, and regulatory guidance, which aim to reduce the risk mismatch between investors and products [2][3] - Regulatory frameworks, such as the Asset Management New Regulations, emphasize the importance of risk matching, compelling institutions to establish dynamic risk rating mechanisms to prevent ratings from lagging behind actual product risks [3][4] - The changes are expected to become a routine practice, as banks need to dynamically assess product risks to fulfill their suitability obligations and protect investor interests [3][4] Group 3 - The impact of these changes on investors is twofold; short-term, conservative investors may choose to redeem their investments due to increased risk levels, while long-term, dynamic rating mechanisms can enhance risk transparency and reduce mismatches [4][5] - The industry may shift from a product-selling approach to a service-oriented model, prompting fund companies to improve their research and investment capabilities, thereby fostering a healthier market ecosystem [4]

Group 1 - The major fire incident at Hong Kong's Tai Po Wang Fuk Court has led to significant casualties and has drawn attention from various sectors of society [1] - The banking industry has quickly activated emergency mechanisms, providing donations, material support, and financial service green channels to establish a "financial lifeline" for disaster relief [1] - Agricultural Bank of China, along with its local institutions, will donate HKD 10 million to support fire rescue and post-disaster reconstruction efforts [1] - Industrial and Commercial Bank of China (ICBC) and its local institutions will also contribute HKD 10 million for disaster relief and reconstruction [1] - China Construction Bank is donating HKD 10 million for emergency rescue, transitional housing, and post-disaster recovery, while also opening a green channel for cross-border donations [1] - Minsheng Bank's Hong Kong branch will donate HKD 5 million to the "Tai Po Wang Fuk Court Relief Fund" established by the Hong Kong government for emergency assistance [1] - Bank of China Hong Kong will contribute HKD 20 million and establish a dedicated account for public donations [1] Group 2 - China Construction Bank (CCB) Asia has initiated three emergency measures for affected residents, including flexible identity verification for withdrawals and waiving early withdrawal fees for fixed deposits [2] - CCB Asia has also launched a fundraising campaign, raising HKD 2 million for emergency relief and community rebuilding efforts [2] - ICBC Asia's Tai Po branch has extended service hours and set up dedicated service windows for affected customers, offering various conveniences such as cardless cash withdrawals and expedited card replacements [2] - Bank of Communications (Hong Kong) has established emergency service stations and extended branch hours, providing fee-free withdrawals and flexible loan arrangements for affected customers [2]

Core Viewpoint - The Financial Stability Board (FSB) has released the updated list of Global Systemically Important Banks (G-SIBs) for 2025, which includes five banks from China, maintaining the same number as in 2024 but with adjustments in classification groups [1] Group 1: Inclusion of Chinese Banks - Five Chinese banks have been included in the 2025 G-SIBs list: Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications [1] - The classification groups for these banks have been adjusted, with Bank of Communications in Group 1 (additional capital requirement of 1%), Agricultural Bank of China, Bank of China, and China Construction Bank in Group 2 (additional capital requirement of 1.5%), and Industrial and Commercial Bank of China in Group 3 (additional capital requirement of 2.0%) [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致之任何損失承擔任何責任。 00939 董事會會議決議公告 （2025年11月28日） 中國建設銀行股份有限公司（「本行」）董事會會議（「本次會議」）以書面議案方式召 開。本行於2025年11月28日發出本次會議通知，並於當日收到全體董事的書面表 決意見。本次會議的召開符合《中華人民共和國公司法》《中國建設銀行股份有限公 司章程》等規定。 2025年11月28日 於本公告日期，本行的執行董事為張金良先生、張毅先生和紀志宏先生，本行的 非執行董事為辛曉岱女士、劉芳女士、李璐女士、李莉女士和竇洪權先生，本行 的獨立非執行董事為威廉•科恩先生、梁錦松先生、詹誠信勛爵、林志軍先生和 張為國先生。 本次會議審議通過《關於向香港大埔宏福苑火災公益捐贈的議案》。 表決情況：同意13票，反對0票，棄權0票。 本次會議同意捐贈1,000萬港元，用於受災民眾緊急救援、過渡安置及災後恢復工 作。 特此公告。 中國建設銀行股份有限公司 董事會 ...

Core Viewpoint - Multiple financial institutions in Hong Kong have mobilized to support disaster relief and recovery efforts following a fire incident at the Hong Fu Court in Tai Po, demonstrating a strong commitment to corporate social responsibility and community support [1] Group 1: Actions by Major Banks - Industrial and Commercial Bank of China (ICBC) has organized a volunteer team and provided emergency financial services, including loan extensions and fee waivers for affected customers [2] - Agricultural Bank of China plans to donate HKD 10 million and is coordinating with local organizations for targeted donations and support for insurance claims [3] - Bank of China is donating HKD 20 million and has set up a dedicated donation account, while also offering expedited banking services for affected clients [4] - China Construction Bank is donating HKD 10 million and has established a green channel for cross-border donations, along with various financial support measures for affected customers [5] - Bank of Communications has set up emergency service stations and extended branch hours to assist affected clients [6][7] - Minsheng Bank has donated HKD 5 million to the relief fund and expressed condolences to the victims [8] Group 2: Contributions from Foreign Banks - HSBC and Hang Seng Bank have jointly donated HKD 30 million to support the affected residents and families [8] - Standard Chartered Bank is contributing HKD 10 million and is providing flexible loan repayment options for affected customers [9] - HSBC's chairman emphasized the importance of collaborating with community partners to address urgent needs [9]

【上调！多家银行公告！】近日，多家银行公告上调部分代销公募基金产品风险等级。 具体来说，建设银行近日发布《关于调整部分代销公募基金产品风险等级的公告》表示，根据《证券期 货投资者适当性管理办法》（证监会令第130号）、《基金募集机构投资者适当性管理实施指引（试 行）》（中基协发〔2017〕4号）等规定要求，为切实履行适当性义务，保护投资者权益，该行遵循公 募基金产品风险等级评定孰高原则，并持续开展产品风险等级动态评估工作。 记者注意到，近期除了建设银行、民生银行等，邮储银行、中信银行等银行也调整了部分代销基金的风 险评级。 普益标准研究员何雨芮告诉记者，银行采取上述动作，一是落实监管要求，践行"孰高原则"：《商业银 行代理销售业务管理办法》要求销售机构遵循产品风险等级评定的"孰高原则"，即在评价基金风险时， 如果其投资标的、市场环境等因素导致潜在风险提高，就应该采用更高级别的风险评级。二是及时反映 市场变化，保护投资者：金融市场是动态变化的。特别是在权益市场波动、债市调整的背景下，一些基 金产品的实际风险特征可能已经发生了变化。银行通过动态评估并上调风险等级，是在提醒投资者重新 审视这些产品是否仍与风险承受能 ...

中国建设银行股份有限公司 董事会会议决议公告 （2025 年 11 月 28 日） 本行董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 股票代码：601939 股票简称：建设银行 公告编号：临 2025-067 特此公告。 中国建设银行股份有限公司董事会 2025 年 11 月 28 日 本次会议审议通过《关于向香港大埔宏福苑火灾公益捐赠的议 案》。 表决情况：同意 13 票，反对 0 票，弃权 0 票。 本次会议同意捐赠 1,000 万港元，用于受灾民众紧急救援、过渡 安置及灾后恢复工作。 中国建设银行股份有限公司（以下简称本行）董事会会议（以下 简称本次会议）以书面议案方式召开。本行于 2025 年 11 月 28 日发 出本次会议通知，并于当日收到全体董事的书面表决意见。本次会议 的召开符合《中华人民共和国公司法》《中国建设银行股份有限公司 章程》等规定。 ...

午后，重庆突然集体异动拉升。重庆建工（600939）直线拉升涨停，财信发展、渝开发、重庆路桥、中设咨询等冲高。 3﹒建设全国一体化算力网络成渝国家枢纽节点 强化数据开发利用。发挥企业"数据要素×"主体作用，在重点领域建设一批行业高质量数据集。建设全国一体化算力网络成渝国家枢纽节点，加快推进"疆 算入渝"工程，迭代国家（西部）算力调度平台。推进智能网联汽车"车路云一体化"试点，打造智能汽车大数据云控基础平台，建设国家工业互联网大数 据区域及行业分中心。建成国家区块链网络区域枢纽。深化中新（重庆）国际互联网数据专用通道应用。发挥重庆人工智能学院、重庆通用人工智能研究 院、重庆市医学影像大数据与医疗AI研究中心平台作用，引进和培育数据企业，建设国家级数据产业集聚区。 | 重庆建工(600939) 2025年11月28日 星期五 PageUp/Down:前后日 空格键:操作 | | | | | | --- | --- | --- | --- | --- | | 東宋津 分时(静态) | 10.09% | 13:53 | 3.82 | 216 | | 3.82 | | 13:54 | 3.82 | 22 | | 3.7 ...