Core Viewpoint - The China Banking and Insurance Asset Management Association has been renamed and is now including bank wealth management companies in its self-regulatory management and service scope, marking a significant step in the self-regulatory management system of the wealth management industry and supporting the collaborative development of two types of asset management institutions [1] Group 1 - The renaming of the association signifies a new phase in self-regulatory management for the banking and insurance asset management industry in China [1] - The inclusion of bank wealth management companies is a major initiative aimed at enhancing the self-regulatory management framework [1] - This move is expected to promote the collaborative development of banking and insurance asset management institutions [1]

Group 1 - The core point of the article is that Bank of China (03988.HK) has successfully issued a total of 600 billion RMB in subordinated debt instruments to enhance its Tier 2 capital [1] - The issuance was approved at the shareholders' meeting held on July 18, 2025, allowing the bank to issue up to 4.5 trillion RMB or equivalent foreign currency capital instruments [1] - The bonds issued are 10-year fixed-rate bonds with a coupon rate of 2.16%, and the issuer has the right to redeem them at the end of the fifth year [1] Group 2 - The funds raised from this bond issuance will be used to supplement the bank's Tier 2 capital, subject to applicable laws and regulatory approvals [1] - Additionally, the article mentions that the bank's Dubai branch has issued notes that are listed on the Nasdaq Dubai exchange [1]

Core Viewpoint - The company has approved the issuance of capital instruments not exceeding 450 billion RMB or equivalent foreign currency, with a recent issuance of 60 billion RMB in subordinated debt [1] Group 1: Issuance Details - The company held a shareholders' meeting on July 18, 2025, to approve the issuance of capital instruments [1] - On November 24, 2025, the company issued 60 billion RMB in subordinated debt in the interbank bond market, completing the issuance on November 26, 2025 [1] - The bonds have a fixed interest rate of 2.16% and a maturity of 10 years, with a call option for the issuer at the end of the fifth year [1] Group 2: Purpose of Fundraising - The funds raised from this bond issuance will be used to supplement the company's Tier 2 capital, subject to applicable laws and regulatory approvals [1]

证券代码：601988 证券简称：中国银行 公告编号：临 2025-083 本期债券募集的资金将依据适用法律和监管部门的批准，补充本行 的二级资本。 特此公告 中国银行股份有限公司董事会 二○二五年十一月二十六日 中国银行股份有限公司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。 中国银行股份有限公司（简称"本行"）于 2025 年 7 月 18 日召开 的股东大会审议批准了本行发行不超过 4,500 亿元人民币或等值外币资 本工具的议案。经相关监管机构批准，本行于 2025 年 11 月 24 日在全 国银行间债券市场发行总额为 600 亿元人民币的减记型二级资本债券 （简称"本期债券"），并于 2025 年 11 月 26 日发行完毕。 本期债券为 10 年期固定利率债券，发行规模为 600 亿元人民币， 票面利率为 2.16%，在第 5 年末附发行人赎回权。 中国银行股份有限公司 关于二级资本债券发行完毕的公告 ...

Core Viewpoint - Bank of China (03988) has received regulatory approval to issue a total of 60 billion RMB in loss-absorbing tier 2 capital bonds in the interbank bond market, set to be completed by November 26, 2025 [1] Group 1 - The bond issuance will amount to 60 billion RMB, with a fixed interest rate of 2.16% over a 10-year term [1] - The bonds will include an issuer call option at the end of the fifth year [1]

Core Viewpoint - The company announced the issuance of a total of 60 billion RMB of loss-absorbing tier 2 capital bonds in the interbank bond market, aimed at supplementing its tier 2 capital [1] Group 1 - The bonds will be issued on November 24, 2025, and completed by November 26, 2025 [1] - The bonds have a fixed interest rate of 2.16% and a maturity period of 10 years [1] - The issuer has the right to redeem the bonds at the end of the fifth year [1]

中國銀行股份有限公司 BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） （「本行」） （股份代號：3988） 公告 二級資本債券發行完畢 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的內容概不負責，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倚 賴該等內容而引致之任何損失承擔任何責任。 本期債券為10年期固定利率債券，發行規模為600億元人民幣，票面利率為 2.16%，在第5年末附發行人贖回權。 本期債券募集的資金將依據適用法律和監管部門的批准，補充本行的二級資本。 中國銀行股份有限公司 本行於2025年7月18日召開的股東大會審議批准了本行發行不超過4,500億元人民 幣或等值外幣資本工具的議案。經相關監管機構批准，本行於2025年11月24日在 全國銀行間債券市場發行總額為600億元人民幣的減記型二級資本債券（「本期債 券」），並於2025年11月26日發行完畢。 董事會 中國，北京 2025年11月26日 於本公告日期，本行董事為葛海蛟、張輝、劉進、張勇*、黃秉華*、劉輝*、師永彥*、 樓小惠*、李子民*、 ...

Core Viewpoint - The company, GuoJi Heavy Industry (601399.SH), announced a significant share reduction by Bank of China branches, indicating a strategic shift in shareholder composition [1] Share Reduction Details - Bank of China, Deyang Branch, reduced its holdings by 58.1669 million shares from November 11 to November 24, 2025, accounting for 0.81% of the company's total share capital [1] - Bank of China, Zhenjiang Runzhou Branch, reduced its holdings by 13.9686 million shares during the same period, representing 0.19% of the total share capital [1] - The total shares reduced by both branches amounted to 72.1355 million shares, which is 1.00% of the company's total share capital [1] Post-Reduction Shareholding - After the reduction, Bank of China, Deyang Branch, holds 288 million shares, which is 3.99% of the total share capital [1] - Bank of China, Zhenjiang Runzhou Branch, now holds 6.9088 million shares, representing 0.96% of the total share capital [1] - The combined holdings of the aforementioned branches total 357 million shares, accounting for 4.95% of the company's total share capital [1]

Core Points - The state-owned large bank sector experienced a decline of 1.67% on November 26, with Industrial and Commercial Bank of China (ICBC) leading the drop [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index rose by 1.02% to 12907.83 [1] Summary by Category Stock Performance - The closing prices and changes for major state-owned banks are as follows: - Bank of Communications: 7.66, down 0.78% - China Construction Bank: 9.72, down 1.32% - Postal Savings Bank: 5.79, down 1.53% - Agricultural Bank of China: 7.94, down 1.61% - Bank of China: 6.15, down 1.76% - Industrial and Commercial Bank of China: 8.16, down 1.81% [1] Capital Flow - The net capital flow for the state-owned large bank sector showed a net outflow of 1.244 billion yuan from major funds, while retail investors saw a net inflow of 611 million yuan [1] - The detailed capital flow for individual banks is as follows: - Bank of Communications: Major funds net outflow of 22.804 million yuan, retail net inflow of 440.06 thousand yuan - China Construction Bank: Major funds net outflow of 91.255 million yuan, retail net inflow of 28.205 million yuan - Postal Savings Bank: Major funds net outflow of 11.47 million yuan, retail net inflow of 45.654 million yuan - Industrial and Commercial Bank of China: Major funds net outflow of 208 million yuan, retail net inflow of 42.895 million yuan - Bank of China: Major funds net outflow of 267 million yuan, retail net inflow of 200 million yuan - Agricultural Bank of China: Major funds net outflow of 541.17 million yuan, retail net inflow of 299 million yuan [2]

Core Insights - The foreign exchange business reform has been positively received by commercial banks and the public, with 26 banks participating as of September 2025, covering various types of banks across the country [1][2] Group 1: Reform Implementation and Participation - As of September 2025, 26 banks are involved in the foreign exchange business reform, including 5 large banks, 9 joint-stock banks, 4 city commercial banks, and 8 foreign banks [1] - The newly added banks in the third quarter include Industrial and Commercial Bank of China, Deutsche Bank, Mizuho Bank, and Mitsubishi UFJ Financial Group [2] Group 2: Benefits of the Reform - The reform has reduced the burden on enterprises, allowing them to handle foreign exchange transactions more efficiently, with some businesses experiencing a significant reduction in processing time from days to minutes [3] - Banks have improved their customer identification and service capabilities, leading to a reduction in average processing time for transactions by over 50% [3] - The reform has enhanced regulatory quality, with banks establishing risk monitoring systems to better track cross-border transactions and identify abnormal activities early [3] Group 3: Future Directions - The State Administration of Foreign Exchange plans to further enhance the foreign exchange management system, focusing on convenience, openness, security, and intelligence [4] - Future efforts will include expanding the coverage of the reform to benefit more enterprises and integrating various facilitation policies [4] - The application of new technologies such as artificial intelligence and big data will be encouraged to improve efficiency in foreign exchange services [4]