2025年12月31日，工商银行、农业银行、中国银行、建设银行、交通银行、邮储银行六大国有银行同时公告，自2026 年1月1日起，客户开立的数字人民币实名钱包中的余额将按活期存款计息。 据官网公示，当前六大国有行活期存款挂牌利率均为0.05%。 数字人民币是由中国人民银行发行的法定数字货币，可用于交通出行、餐饮娱乐、购物消费、生活缴费等场景。 公开资料显示，经过多年探索与实践，数字人民币试点范围已从最初的部分重点城市逐步拓展至全省（自治区）层 面，包括北京、天津、上海、重庆等直辖市在内，广东省、江苏省、浙江省、山东省、河北省、四川省、海南省等省 份已宣布开展全省试点。 日前，中国人民银行党委委员、副行长陆磊公开发文指出，中国人民银行出台了《关于进一步加强数字人民币管理服 务体系和相关金融基础设施建设的行动方案》（以下简称《行动方案》），并自2026年1月1日起实施。根据《行动方 案》部署，银行机构将为客户实名数字人民币钱包余额计付利息，数字人民币纳入存款保险范畴，与存款享有同等安 全保障。 值得注意的是，根据个人申请开立数字人民币钱包时身份实名程度不同，目前数字人民币钱包分成一至四类，实名程 度依次降低。其中 ...

Core Viewpoint - Starting January 1, 2026, several major banks in China, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank, will offer interest on the balances of digital RMB real-name wallets at the same rate as current deposit rates [1] Group 1 - The interest calculation rules for digital RMB wallets will align with those of current deposits [1] - China Construction Bank's announcement specifies that four types of wallets are excluded from this interest policy [1] - Bank of Communications states that if a customer opens a type four personal digital RMB wallet, the balance will not earn interest [1]

Core Viewpoint - Digital Renminbi will start accruing interest from January 1, 2026, as major banks in China announce plans to pay interest on the balances of digital Renminbi wallets at the same rates as regular savings accounts [1] Group 1: Bank Announcements - Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank will begin paying interest on digital Renminbi wallet balances according to the current savings deposit rates starting January 1, 2026 [1] - Bank of Communications will also pay interest on digital Renminbi wallet balances, including various types of personal and corporate wallets, based on its announced savings deposit rates, while balances in certain wallet types will not earn interest [1] Group 2: Regulatory Framework - The People's Bank of China has introduced an action plan to enhance the management and service system for digital Renminbi, which will officially launch on January 1, 2026 [1] - The action plan specifies that banks must comply with self-discipline agreements regarding deposit interest rate pricing for customer digital Renminbi wallet balances [1]

金融反腐再出重拳，又有多名国有大行省级分行"一把手"接连被查！ 2025年12月31日，据中央纪委国家监委网站消息，中国银行浙江省分行党委书记、行长程军涉嫌严重违纪违法 被查。券商中国记者注意到，就在2025年12月23日，程军还以中行浙江省分行行长身份出席杭州当地国企的洽 谈交流活动。程军长期在中行系统内工作，具有在中行新加坡分行等海外工作经历。 就在程军被查消息通报同一日，建设银行河南省分行亦有反腐消息传来。据中央纪委国家监委网站通报，中国 建设银行河南省分行原党委书记、行长石永拴被查。这也是自石亭峰、路建华等人被查之后，建行河南省分行 被查的又一位原高管。 年末之际，国有大行频繁有反腐消息传出，据不完全统计，2025年12月份以来，工行、农行、建行和中行均有 干部被查，涉及人数已超9人。也有多人严重违纪违法问题，相关处分落地，被开除党籍和公职。 程军曾被派驻海外多年 券商中国记者注意到，就在几日前，程军仍以浙江省分行行长身份，前往杭州当地国企杭钢集团洽谈交流。随 后，据财新报道，被派驻海外多年的程军"失联"。 公开资料显示，现年52岁的程军，毕业于中国人民大学和美国曼彻斯特大学，获经济学硕士学位，拥有高 ...

Core Viewpoint - In 2025, the A-share equity financing market experienced a significant rebound, with a total of 315 fundraising events, raising over 1 trillion yuan, marking a year-on-year increase of 226.10% [2][4]. Group 1: Financing Overview - The total amount raised through equity financing in 2025 reached 10,222.68 billion yuan, an increase of 226.10% compared to the previous year [4]. - The IPO market saw 112 issuances, raising 1,308.35 billion yuan, a year-on-year increase of 97.40% [4][22]. - The private placement market expanded significantly with 157 issuances, raising 8,267.20 billion yuan, a growth of 300.05% [4][40]. Group 2: Financing Method Distribution - In 2025, the distribution of financing methods showed that IPOs accounted for 12.80% of the total amount raised, while private placements dominated with 80.87% [8][11]. - Convertible bonds represented 6.33% of the total financing, with 46 issuances raising 647.13 billion yuan [8][11]. Group 3: Industry Distribution of Financing Entities - The banking sector led the fundraising efforts with 5,200 billion yuan, followed by the semiconductor industry with 714.53 billion yuan, and the public utilities sector with 555.05 billion yuan [13][48]. Group 4: Regional Distribution of Financing - Beijing ranked first in fundraising with 4,451.82 billion yuan from 24 projects, followed by Shanghai with 1,875.94 billion yuan from 34 projects, and Guangdong with 964.76 billion yuan from 49 projects [16][19]. Group 5: IPO Trends - The quarterly breakdown of IPOs showed a significant recovery in the third and fourth quarters, with total issuances of 27, 21, 28, and 36 respectively [22]. - The main boards and the innovation board contributed significantly to the total fundraising, with the innovation board raising 378.45 billion yuan, accounting for 28.93% of the total [25]. Group 6: Underwriting Rankings - CITIC Securities topped the underwriting rankings with a total amount of 2,416.68 billion yuan, followed by Guotai Junan with 1,506.59 billion yuan, and CICC with 1,374.87 billion yuan [60][61]. - In terms of the number of underwriting projects, CITIC Securities also led with 61 projects, while Guotai Junan followed with 47 projects [64].

Key Points - The total bond market in mainland China reached 196.18 trillion yuan by the end of 2025, an increase of 20.30 trillion yuan from the beginning of the year, with interest rate bonds at 123.61 trillion yuan, credit bonds at 52.88 trillion yuan, and interbank certificates at 19.69 trillion yuan [3] - In 2025, the issuance of various bonds in mainland China totaled 89.0 trillion yuan, a year-on-year increase of 11%, with interest rate bonds reaching 33.0 trillion yuan, up 18% from the previous year [3] - The issuance of government bonds increased by 28% year-on-year, while local government bonds grew by 5%, and policy financial bonds rose by 17% [3] - Credit bonds issuance was 22.2 trillion yuan, an 8% increase year-on-year, and interbank certificates totaled 33.8 trillion yuan, up 7% [3] Bond Issuance Statistics - Interest rate bonds: 3,534 issues, 329,829.6 billion yuan, 18% growth [4] - Government bonds: 206 issues, 160,140.2 billion yuan, 28% growth [4] - Local government bonds: 2,449 issues, 102,901.0 billion yuan, 5% growth [4] - Policy bank bonds: 879 issues, 66,788.4 billion yuan, 17% growth [4] - Credit bonds: 24,003 issues, 222,246.7 billion yuan, 8% growth [4] - Financial bonds: 1,499 issues, 56,780.6 billion yuan, 25% growth [6] Bank Underwriting Rankings - The top three banks in total underwriting amount (including local government bonds) are China Bank (16,765.2 billion yuan), Industrial and Commercial Bank (16,479.0 billion yuan), and Construction Bank (15,020.5 billion yuan) [12] - In the detailed local government bond underwriting, the top three are Industrial and Commercial Bank (22,584.8 billion yuan), China Bank (16,312.8 billion yuan), and Construction Bank (14,568.1 billion yuan) [17] Securities Firm Underwriting Rankings - The top three securities firms (excluding local government bonds) in total underwriting amount are CITIC Securities (16,136.2 billion yuan), Guotai Junan (13,613.4 billion yuan), and CITIC Jianzhong (12,419.6 billion yuan) [21] - In the local government bond underwriting (averaged), the top three are CITIC Securities (22,491.6 billion yuan), CITIC Jianzhong (17,333.3 billion yuan), and Guotai Junan (16,426.2 billion yuan) [26] NAFMII Debt Financing Tool Underwriting Rankings - CITIC Bank leads the NAFMII debt financing tool underwriting with 9,043.4 billion yuan, followed by Industrial Bank with 8,412.7 billion yuan and Construction Bank with 6,077.7 billion yuan [36] Credit Bond Underwriting Rankings - The top three in credit bond underwriting are CITIC Securities (16,136.2 billion yuan), Guotai Junan (13,613.4 billion yuan), and CITIC Jianzhong (12,419.6 billion yuan) [40]

（原标题：程军、石永拴，同日被查！） 银行业反腐。 据中央纪委国家监委驻中国银行纪检监察组、天津市纪委监委消息：中国银行浙江省分行党委书记、行 长程军涉嫌严重违纪违法，目前正接受中央纪委国家监委驻中国银行纪检监察组纪律审查和天津市监察 委员会监察调查。 责编：李丹 校对：陶谦 据中央纪委国家监委驻中国建设银行纪检监察组、山东省纪委监委消息：中国建设银行河南省分行原党 委书记、行长石永拴涉嫌严重违纪违法，目前正接受中央纪委国家监委驻中国建设银行纪检监察组纪律 审查和山东省聊城市监察委员会监察调查。 综合自：中央纪委国家监委网站 ...

银行 2026 年展望：稳中求进 SAC 执证编号：S0080516060001 SFC CE Ref：BHQ055 shuaishuai.zhang@cicc.com.cn 证券研究报告 2025.12.15 银行 张帅帅 分析员 林英奇 分析员 许鸿明 分析员 SAC 执证编号：S0080521090006 SFC CE Ref：BGP853 yingqi.lin@cicc.com.cn SAC 执证编号：S0080523080007 SFC CE Ref：BUX153 hongming.xu@cicc.com.cn 纵轴：相对值（%） 观点聚焦 投资建议 作为金融基础设施，银行已进入高质量发展阶段，过去一两年少 数上市银行利润同比增速录得二位数增长，高股息投资成为主要 范式。银行端，关注股息率的高低以及确定性，高低取决于估值 与利润增速，确定性则聚焦资产质量与营收可持续性。基准情形 下，我们继续看好银行股的绝对收益与相对收益表现，资金主要 源自配置需求，银行股的高股息标签愈发得到市场认可，与其他 行业的最大特征在于"量"。 理由 稳中有进，是 2026 年上市银行的业绩表达特征。我们预计覆盖 上市银行 ...

银行业反腐。 据中央纪委国家监委驻中国银行纪检监察组、天津市纪委监委消息：中国银行浙江省分行党委书记、行长程军涉嫌严重违纪违法，目前正接 受中央纪委国家监委驻中国银行纪检监察组纪律审查和天津市监察委员会监察调查。 据中央纪委国家监委驻中国建设银行纪检监察组、山东省纪委监委消息：中国建设银行河南省分行原党委书记、行长石永拴涉嫌严重违纪违 法，目前正接受中央纪委国家监委驻中国建设银行纪检监察组纪律审查和山东省聊城市监察委员会监察调查。 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体法律责任的权利。 综合自：中央纪委国家监委网站 责编：李丹 校对：陶谦 版权声明 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 国常会，最新部署！ 丨 利好！每年让利投资者510亿 元，证监会新规出炉 丨 证监会，最新发布！ 丨 突发！300500、688333，被证监会立案 丨 2025A股收官！超500股翻倍 丨 突发暴跌！全 ...

(本文来自第一财经) Wind数据显示，截至发稿，今年已有3767家A股上市公司实施了现金分红，共计现金分红金额超2.63万 亿元。从分红金额来看，年内共有37只个股分红超百亿，其中"四大行"领衔分红榜单且金额均超千亿， 工商银行分红金额最高，为1601.69亿元，建设银行、农业银行、中国银行分红金额依次为1493.60亿 元、1264.84亿元、1066.10亿元。中国移动紧随其后位列第五，分红金额为1035.58亿元。此外，排名前 十位的上市公司还有中国石油、贵州茅台、中国神华、中国海油和招商银行，分红金额均在500亿元以 上。从行业分布来看，2025年分红金额超百亿的个股较为集中的分布在银行、通信和石油石化等领域。 | | | 2025年分红超百亿个股 | | | --- | --- | --- | --- | | 证券代码 | 证券简称 | 2025年现金分红总额(亿元) | 所属申万一级行业 | | 601398. SH | 工商银行 | 1601. 6897 | 银行 | | 601939. SH | 建设银行 | 1493. 5977 | 银行 | | 601288. SH | 农业银行 | 1 ...