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 關於雷鳴副行長任職的公告 2025年7月17日，中國建設銀行股份有限公司（「本行」）董事會審議通過了關於聘任 雷鳴先生擔任本行副行長的議案。國家金融監督管理總局現已核准雷鳴先生的任 職資格，雷鳴先生正式就任本行副行長。 雷鳴先生的簡歷請參見本行於2025年7月17日刊載於香港交易及結算所有限公司 「披露易」網站(www.hkexnews.hk)的《董事會會議決議公告》。 特此公告。 中國建設銀行股份有限公司 董事會 2025年8月20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。 ...

建设银行公告，2025年7月17日，董事会审议通过聘任雷鸣先生为副行长的议案。国家金融监督管理总 局现已核准雷鸣先生的任职资格，其正式就任本行副行长。雷鸣先生的简历详见公司于2025年7月18日 刊载于上海证券交易所网站的《中国建设银行股份有限公司董事会会议决议公告》。 ...

Core Viewpoint - The implementation plan for the personal consumption loan interest subsidy policy has been released, with major banks preparing to comply and establish specific operational guidelines [1][2]. Group 1: Policy Implementation - Major banks, including six large state-owned banks, are actively preparing to implement the personal consumption loan interest subsidy policy, with details to be announced through official channels [1][2]. - Some banks plan to set up a dedicated section in their mobile banking apps for loan interest subsidies, allowing customers to authorize transaction information for automatic identification of eligible loans [2][3]. Group 2: Loan Interest Rates - Current consumer loan interest rates in Shanghai remain at a minimum of 3%, with some banks offering rates as low as 3% after discounts [4][5]. - Analysts have noted that the subsidized consumer loan rates could drop below 3%, raising concerns about borrowers replacing higher-rate mortgage loans with lower-rate consumer loans [5][6]. Group 3: Loan Usage and Compliance - The subsidy applies to personal consumption loans used for specific categories, including consumer goods, home purchases, education, and healthcare [5][6]. - Banks have emphasized the importance of ensuring that loan funds are used for legitimate consumption purposes, warning against fraudulent practices to obtain subsidies [5][6].

转自：新华社 新华财经北京8月20日电（记者吴雨、胡旭）面对融资时名目繁多的费用，如何帮企业算清"明白账"？ 2024年9月起，中国人民银行启动明示企业贷款综合融资成本试点工作，通过"贷款明白纸"让企业对各 项融资费用"看得见、算得清、可比较"，进一步提升金融服务实体经济质效。 试点近一年来，"贷款明白纸"正悄然改善企业融资环境，不断提升融资的透明度和适配度，促进综合融 资成本持续下降，助力企业"轻装前行"。 费用一目了然告别"雾里看花" "来银行办理贷款，包括利息在内，我实际要支付的费用一目了然。"福建泉州洋磊科技有限公司负责人 吴金花告诉记者，企业急需50万元的资金用于扩大生产经营，在当地建设银行填写完"贷款明白纸"后她 发现，银行办理贷款根本不收取任何所谓"渠道费"，差点被中介忽悠多掏2万多元。 获取一笔贷款的背后，不少企业不光要支付贷款利息，有时还要面临抵押费、担保费、评估费、公证 费、中介服务费等名目繁多的费用，收费主体也不同。 吴金花提到的"贷款明白纸"，其实是一张企业贷款综合融资成本清单。 为了让企业融资成本成为一笔"明白账"，中国人民银行在山西、江西、山东、湖南、四川五个省份首批 启动了明示企 ...

Core Viewpoint - The People's Bank of China is launching a pilot program for a "Loan Clarity Document" to enhance transparency in corporate financing costs, allowing businesses to clearly understand and compare various financing fees starting from September 2024 [1]. Group 1: Implementation and Impact - The pilot program has been initiated in five provinces: Shanxi, Jiangxi, Shandong, Hunan, and Sichuan, aiming to provide a comprehensive cost breakdown for corporate loans [3]. - The "Loan Clarity Document" helps to break down information asymmetry, effectively curbing hidden fees and unreasonable price increases, thus promoting transparent pricing of comprehensive financing costs [3]. - In June, the average non-interest rate for loans in Sichuan was reported at 0.55%, a decrease of 57 basis points since the pilot's inception, indicating a significant reduction in non-interest burdens [6]. Group 2: Case Studies and Benefits - A business owner from Fujian reported that by using the "Loan Clarity Document," they avoided paying over 20,000 yuan in unnecessary intermediary fees when securing a loan [2]. - Another case from Shandong highlighted that a company saved nearly 40% in financial costs by utilizing the "Loan Clarity Document" to secure a 5 million yuan loan without incurring additional fees [5]. - In Anhui, a farmer was able to switch to a lower interest loan of 3% from an initial 4.3% rate, saving over 6,000 yuan, demonstrating the document's effectiveness in optimizing loan conditions [7]. Group 3: Expansion and Future Prospects - The pilot program is expanding nationwide, with many provinces like Anhui, Hainan, Hebei, and Liaoning joining the initiative, showing promising results [7]. - As of the end of July, financial institutions in Fujian processed nearly 50,000 entries related to the comprehensive financing cost, involving over 200 billion yuan in loans [7]. - The initiative is expected to strengthen communication between banks and borrowers, enhancing the overall financial ecosystem and providing businesses with confidence for stable operations [8].

Core Viewpoint - The issuance of TLAC bonds by major state-owned banks in China has reached a total scale of 250 billion yuan this year, reflecting compliance with regulatory requirements for total loss-absorbing capacity [1][2][3]. Group 1: TLAC Bond Issuance - Major state-owned banks, including Bank of China, Agricultural Bank of China, and others, have issued TLAC bonds totaling 250 billion yuan this year, surpassing last year's issuance [2]. - The total issuance of TLAC bonds in the market has reached 480 billion yuan this year, with the five major banks receiving approval for a total of 440 billion yuan in TLAC debt instruments [2][3]. - Bank of China issued a 500 billion yuan TLAC bond with a fixed interest rate of 1.93% for a four-year term, aimed at enhancing its total loss-absorbing capacity [1]. Group 2: Compliance with Regulatory Requirements - The four major state-owned banks have successfully met the first phase of TLAC requirements, with their TLAC/RWA ratios exceeding the minimum requirement of 20% as of Q1 2025 [3]. - According to Fitch Ratings, the TLAC/RWA ratios for these banks need to reach 20% and 22% by 2025 and 2028, respectively, with specific targets for each bank [2][3]. - Agricultural Bank of China and Bank of China have TLAC/RWA ratios of 20.5% and 20.7%, respectively, indicating compliance with regulatory standards [3]. Group 3: Innovation in TLAC Bonds - The issuance of floating-rate TLAC bonds by Bank of Communications represents an innovative approach, with a total issuance of 300 billion yuan, including both fixed and floating-rate options [3][4]. - The floating-rate TLAC bond has a subscription rate of 1.42 times, indicating strong market interest and recognition of its investment value [4]. - The floating-rate bond's structure allows for effective hedging against interest rate risks, providing investors with a stable income stream [4].

从资金流向上来看，当日国有大型银行板块主力资金净流入6.71亿元，游资资金净流出4.67亿元，散户资 金净流出2.04亿元。国有大型银行板块个股资金流向见下表： 证券之星消息，8月20日国有大型银行板块较上一交易日上涨0.7%，中国银行领涨。当日上证指数报收 于3766.21，上涨1.04%。深证成指报收于11926.74，上涨0.89%。国有大型银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) | | --- | --- | --- | --- | --- | --- | | 601988 | 中国银行 | 5.67 | 1.98% | 584.58万 | 33.10亿 | | 601288 | 农业银行 | 7.08 | 0.85% | 475.16万 | 33.59 Z | | 601328 | 交通银行 | 7.54 | 0.40% | 131.15万 | 26886 | | 666109 | 建设银行 | 9.17 | 0.11% | 122.28万 | 11.24亿 | | 601398 | 工商银行 | 7.57 | 0.00% | 331 ...

截至2025年8月20日 13:06，中证国有企业红利指数(000824)上涨0.27%，成分股南钢股份(600282)上涨6.04%，华域汽车(600741)上涨4.49%，厦门银行 (601187)上涨2.53%，中国银行(601988)上涨2.52%，华菱钢铁(000932)上涨2.50%。国企红利ETF(159515)红盘蓄势，最新价报1.15元。 | 股票代码 | 股票简称 | 涨跌幅 | 权重 | | --- | --- | --- | --- | | eolala | 中远海控 | 1.18% | 2.36% | | 000937 | 冀中能源 | 0.00% | 2.00% | | 600546 | 山煤国际 | -0.49% | 1.47% | | 000983 | 山西焦煤 | -0.97% | 1.46% | | 601699 | 潞安环能 | -0.67% | 1.44% | | 600971 | 恒源煤电 | -0.43% | 1.40% | | 601328 | 交通银行 | 0.40% | 1.33% | | 600153 | 建发股份 | -0.80% | 1.30% | | ...

Core Viewpoint - Foreign investment giants are optimistic about Chinese bank stocks, expecting further price increases due to stable net interest margins and growth in fee income [2][4]. Group 1: Investment Outlook - JPMorgan forecasts a potential increase of 15% in A-share bank stocks and 8% in Hong Kong bank stocks [2][4]. - UBS analysts predict that the liquidity-driven bull market in Chinese stocks will continue at least until September [2][7]. - The average dividend yield for covered mainland bank stocks is expected to be around 4.3% this year, which is attractive in the current market environment [5]. Group 2: Market Dynamics - The key index tracking Chinese banks listed in Hong Kong has surged approximately 25% this year, driven by institutional investors seeking higher returns as bond yields decline [6]. - JPMorgan's Katherine Lei believes that income and profit growth for banks will improve in the second half of the year due to the stabilization of net interest margins and a moderate recovery in fee income [6]. Group 3: Future Performance - Tianfeng Securities indicates that the recent price adjustments in bank stocks are influenced by strong prior gains, profit-taking strategies, and some shareholders reducing their stakes [9]. - The long-term trend of valuation recovery for bank stocks remains positive, supported by expected improvements in net interest margins and non-interest income [10]. - The demand for bank stocks from long-term funds, such as insurance and public funds, is increasing, providing financial support for the banking sector [12].

Group 1 - The core point of the news is the performance and structure of the Xingye State-Owned Enterprise Reform Mixed A fund, which has seen a decline in its net value and cumulative returns since its inception [1][4] - As of August 19, the fund's net value is 2.42 yuan, with a decrease of 0.58% on that day and a total decline of 1.35% over the last five trading days [1] - The fund was established in September 2015 with a total size of 156 million yuan and has achieved a cumulative return of 142.00% since inception [1] Group 2 - The current fund manager, Liu Fangxu, has a master's degree and extensive experience in investment management, having worked in various roles since 2003 [2] - Liu has held positions at several investment management companies and has been the fund manager for multiple funds since joining Xingye Fund Management in May 2015 [2] Group 3 - As of June 30, 2025, the top ten holdings of the Xingye State-Owned Enterprise Reform Mixed A fund account for a total of 46.81%, with significant investments in companies such as China Merchants Bank (9.42%) and Zijin Mining (8.00%) [3]