Core Viewpoint - The article discusses the tightening of gold-related business by banks in response to recent volatility in gold prices and the upcoming Chinese New Year holiday, highlighting the need for investors to manage risks effectively during this period [3][4][6]. Group 1: Market Conditions - As of February 12, gold prices are experiencing high volatility, with London gold at $5063 per ounce and Shanghai gold at 1123 yuan per gram, while retail prices in major cities reach up to 1556 yuan per gram [3][4]. - The gold market has seen significant fluctuations, with prices peaking above $5600 per ounce at the end of January and then dropping below $4500, indicating a volatility of over 20% within three trading days [6]. Group 2: Bank Responses - Major banks, including China Construction Bank, Industrial Bank, and Bank of Communications, have raised margin requirements and implemented dynamic trading limits on gold transactions to mitigate risks associated with market volatility [4][5][6]. - The minimum investment amounts for gold accumulation products have been increased by several banks, with China Bank raising the threshold from 950 yuan to 1200 yuan, and Construction Bank increasing it to 1500 yuan [5][6]. Group 3: Investor Guidance - Analysts suggest that investors should be cautious about holding positions over the holiday, as the Shanghai Gold Exchange will be closed while international markets remain open, creating a "time difference risk" [6][9]. - For those considering gold as a long-term investment, a strategy of gradual buying and holding is recommended, with a suggested allocation of 5% to 10% of the investment portfolio to gold as a risk hedge [10].

据了解，本次发行是联昌银行第二次"亮相"熊猫债市场。中国银行接连参与两期发行，累计协助融资60 亿元人民币，助力联昌银行成为发行总量最大的马来西亚熊猫债发行人。 2025年以来，中国银行协助联昌银行、巴克莱银行、摩根士丹利等多家国际大型发行人亮相熊猫债市 场。 （文章来源：新华财经） 新华财经北京2月12日电（记者陆宇航）记者从中国银行获悉，截至目前，中国银行已累计协助全球77 家优质发行人发行熊猫债324支，参与全市场超过半数的发行项目，总发行金额近6400亿元。 近日，中国银行作为牵头主承销商和牵头簿记管理人，协助联昌银行股份有限公司在中国银行间市场再 次发行30亿元熊猫债，期限两年，票面利率1.98%。 ...

Market Overview - The NPL product market continued to expand in 2025, with a total issuance scale of 820.57 billion yuan, representing a year-on-year growth of 61.32%[4] - The cumulative issuance scale of NPL products from 2016 to 2025 reached 3285.88 billion yuan, indicating a sustained growth trend over six consecutive years[4] Asset Securitization - In 2025, commercial banks disposed of a total of 519.11 billion yuan of non-performing loans (NPLs) through asset securitization, with principal accounting for 90.53% of this amount, marking a 62.80% increase from 2024[5] - As of September 2025, the balance of non-performing loans in commercial banks was 3522.48 billion yuan, with 349.45 billion yuan disposed of through securitization, accounting for 10.28% of the median balance of non-performing loans[7] Issuance Characteristics - Large state-owned commercial banks remained the main issuers in the NPL market, with the top three institutions (Industrial and Commercial Bank of China, China Construction Bank, and Bank of China) accounting for 39.92% of the total issuance in 2025[9] - The types of NPL products issued have diversified, including personal housing mortgage NPLs and small micro-enterprise NPLs, reflecting a trend towards greater variety in product offerings[9] Recovery Rates and Valuation - The expected recovery rate for credit card NPL products ranged from 4.09% to 16.15%, with a weighted average recovery rate of 9.68%[22] - Personal housing mortgage NPL products had a higher expected recovery rate of 31.44% to 50.02%, with a weighted average recovery rate of 42.30%, although this represents a decline from 50.08% in 2024[31] Small Micro-Enterprise Loans - In 2025, 44 small micro-enterprise NPL products were issued, with a total issuance scale of 224.01 billion yuan, accounting for 27.03% of the total issuance[36] - The expected recovery rate for small micro-enterprise NPLs varied significantly, ranging from 11.58% to 57.20%, depending on the type of collateral involved[37]

Group 1 - Shanghai and Hong Kong are accelerating the deep integration of "technology + finance" to cultivate a new high ground for global innovation resource allocation [1] - Bank of China Shanghai Branch is actively participating in the collaborative development of the Shanghai-Hong Kong International Financial Center, leveraging its global advantages to provide robust financial support for the integration of innovation chains, industrial chains, and capital chains [1] Group 2 - The Bank of China Shanghai Branch has provided comprehensive credit support to a leading domestic lidar company, facilitating its dual listing on the Hong Kong and US stock markets, marking the largest financing scale for a Chinese concept stock IPO in Hong Kong in the past four years [2] - The bank has tailored a comprehensive financial service covering the entire listing process to meet the core needs of hard technology companies in accessing international capital markets [2] Group 3 - In serving an AI chip design company, the Bank of China Shanghai Branch offered customized financial services throughout the company's growth cycle, supporting its successful listing on the Hong Kong stock market [3] - The bank provided integrated services including equity incentive plans and funding coordination to support the company's research and talent stability in both Shanghai and Hong Kong [3] Group 4 - In the biopharmaceutical sector, the Bank of China Shanghai Branch has facilitated cross-border capital flow by participating in the expansion of a large biopharmaceutical merger fund and a Hong Kong biotech fund [4] - The bank aims to establish a new model of cross-border cooperation in biopharmaceuticals, focusing on "Shanghai R&D, Hong Kong financing, and industrial collaboration" to provide efficient capital support for the transformation and industrialization of cutting-edge technologies [4] - Looking ahead, the bank will continue to deepen financial cooperation and innovation linkage between Shanghai and Hong Kong, contributing to the construction of a globally influential technology innovation center [4]

作为扎根惠州、服务地方经济的国有大行，中国银行惠州分行（以下简称"惠州中行"）始终牢记金融工 作的政治性、人民性，紧扣地方发展部署，既以过往扎实的金融实践筑牢消费赋能根基，更以前瞻布局 衔接"十五五"发展新局，以全方位、多层次的金融服务，为提振消费、扩大内需注入强劲的金融动能。 以"贷"赋能 让大宗消费"焕"新升级 "正当我们为资金发愁时，惠州中行主动上门，详细了解情况后，高效为我们批复了600万元流动资金贷 款，还提供了优惠且便利的融资服务。"广东源硕环境科技有限公司负责人感慨道。这家专注于中央空 调销售与安装的企业，2025年初中标外地大额项目面临设备采购资金缺口，惠州中行及时到位的资金不 仅让企业顺利交付项目，更实现了从批发零售代理向"批发零售+工程"双核心的业务跃升。 2025年，惠州中行精准对接居民"焕新"需求，推出"中银焕新消费分期"产品，针对智能家居家电升级、 存量房装修、局部改造等场景定制专属服务方案。同时，持续优化"中银E贷""随心智贷"等纯信用消费 贷款产品，将额度上限分别提升至30万元和50万元，延长随心智贷贷款期限并丰富还款方式，让消费者 实现品质生活升级更无资金顾虑。 在汽车消费领域 ...

Group 1: Core Activities - China Bank has launched the 2026 "Le Gou Xin Chun" consumption promotion activity, focusing on six key consumption scenarios: food, accommodation, transportation, tourism, shopping, and entertainment [1] - The promotion aims to stimulate consumption during the Spring Festival by providing various financial benefits such as payment discounts, digital red envelopes, and installment offers [1] Group 2: Specific Promotions - The "Zhonghang Hui Chuxing" activity has commenced in 30 provinces and cities, featuring over 370 food streets, offering random discounts of up to 10 yuan for purchases over 20 yuan using China Bank debit or credit cards [3] - Special hotel booking discounts are available through the Fliggy platform, with exclusive offers of 50 yuan off for bookings over 500 yuan and 100 yuan off for bookings over 1000 yuan when using China Bank credit cards [5] Group 3: Travel and Transportation Offers - The "Zhonghang Hui Chuxing" initiative includes discounts for electric vehicle charging, offering 6.6 yuan off for payments over 20 yuan at designated charging stations [7] - Discounts on train tickets are available through the mobile banking app, providing 3 yuan off for purchases over 50 yuan [7] Group 4: Entertainment and Shopping Benefits - Discounts for various entertainment activities include 10% off at Shanghai Disneyland for purchases over 300 yuan using China Bank credit cards [9] - The mobile banking app offers surprise blind boxes with various rewards, including membership cards for streaming services [9] Group 5: Financial Products and Services - China Bank has introduced a "Consumer Loan Subsidy" section in its mobile banking app, providing various benefits for customers who sign loan agreements [11] - Special offers for credit card installment plans are available, allowing customers to enjoy additional discounts on top of existing offers [12] Group 6: Cross-Border Services - China Bank provides extensive foreign currency exchange services, with over 36 currencies available and numerous self-service exchange machines at major airports [16] - The "Laihua Tong" app facilitates tax refunds for foreign visitors, offering additional incentives for online applications [16]

Core Viewpoint - The Shanghai Gold Exchange will be closed from February 14 to February 23, while the international precious metals market will continue to operate, leading to discussions among investors about whether to hold gold during the holiday period [1][17]. Group 1: Investor Perspectives - Investor Ms. Ma from Beijing has been purchasing gold since February 2025, currently holding 39.03 grams, with an average cost of 806.74 yuan per gram and a floating profit of approximately 12,256 yuan [1][17]. - Ms. Yan, another investor, plans to hold her physical gold bars long-term and is considering selling her accumulated gold if prices reach 1,200 or 1,300 yuan per gram [5][20]. - Investor Mr. Li, who bought 50,000 yuan worth of gold ETF shares, experienced a profit of about 3.45% as of February 11, but is uncertain about selling before the holiday due to potential market volatility [5][20]. Group 2: Market Operations and Regulations - During the holiday, banks like Industrial and Commercial Bank of China and China Construction Bank will implement limits on gold accumulation and redemption, with some services suspended [7][24]. - The announcement from banks regarding the suspension of gold repurchase services during non-trading days aims to manage risks associated with price fluctuations and operational pressures [11][27]. - The gold market has seen significant price volatility, with spot gold reaching a high of 5,100.21 USD per ounce, prompting experts to advise cautious investment strategies [12][27]. Group 3: Investment Strategies - Experts recommend that ordinary investors treat gold as a hedge in their asset allocation, keeping their gold holdings between 3% to 5% of total assets and favoring regulated channels like bank investment gold and gold ETFs [12][28]. - For conservative investors, a holding of 5% to 10% in physical gold or gold ETFs is suggested, while aggressive investors may increase their exposure but should lock in some profits before the holiday [28]. - Investors holding gold during the holiday should be aware of potential price fluctuations and consider using options to hedge against risks [16][32].

"2025年，我们聚焦湖北十堰丹江口市浪河流域治理，创新推出'砂石资源置换'融资模式，成功破解流 域治理资金难题。"日前，中国银行十堰分行相关负责人介绍说。 为确保项目行稳致远，中国银行十堰分行科学匹配资金周期与收益节奏：设置10年期贷款期限及2年宽 限期，精准契合砂石收益周期与流域治理长期管护需求。在风险防控方面，采用"保证+质押"组合担保 模式，多维度筑牢信贷安全防线。 责编 | 刘钗 · 校对 | 翟文静 · 审核 | 张朋 来源：中国环境网 浪河是丹江口水库重要入库河流，其流域治理成效直接关系到南水北调中线工程水源安全。然而，河道 治理项目普遍具有公益性强、投资回报周期长的特点，资金保障成为制约治理工作持续推进、生态效益 充分释放的关键瓶颈。 为全力守护"一泓清水永续北上"，中国银行十堰分行深入调研浪河流域治理难点，突破传统信贷过度依 赖财政还款的路径依赖，创新设计"砂石资源置换"融资方案——将河道清淤疏浚工程与砂石资源合理开 发有机结合，以项目可采区砂石销售收入作为第一还款来源，构建起"治理—采砂—收益—还款"的闭环 融资链条。同时，通过"政府+平台公司+委托加工企业+销售公司"多方协同运营架构，实 ...

春风送暖，年味渐浓。近期，商务部等9单位印发《2026"乐购新春"春节特别活动方案》（以下简 称《方案》）为繁荣节日市场、丰富群众文化生活、激发假期消费活力，打造全域联动、全民乐享的春 节消费盛宴。 其中，《方案》明确指出加大金融支持，提出鼓励金融机构与重点商户合作推出专属优惠、强化数 字支付激励、便利入境消费等多项具体要求。 中国银行积极响应号召，于近日正式启动2026"乐购新春"活动。该活动紧密围绕"好吃、好住、好 行、好游、好购、好玩"新春消费六大场景，同时深度融合中国银行全球化服务优势，为境内居民与来 华游客精心打造一场贯通线上线下、联动境内境外的消费盛宴，推出涵盖支付满减、数字红包、分期优 惠等多重权益，陪伴亿万百姓欢度温馨团圆年。 悦飨年味·寻味华夏 街区寻味记：走遍大江南北，寻觅地道年味。"中行惠出游·新春季"活动已在30个省市区、108个城 市、超过370条美食街区火热开启，使用中行借记卡和62开头信用卡在指定特色街区商户支付消费满20 元随机立减至高10元，让寻味之旅每一步都滋味无穷。 外卖团聚惠：上美团，用中行。绑定有惊喜：在美团支付完成中行借记卡首次绑定享最高18.8元随 机立减，通过中 ...

Group 1 - The upcoming Spring Festival is expected to drive significant consumer demand, with various financial institutions launching promotional activities to support this consumption surge [1][2] - The People's Bank of China and financial regulatory authorities are guiding financial institutions to offer diverse "Spring Festival Shopping" discounts across multiple sectors, including travel, dining, and entertainment [1][2] - Major state-owned banks are deeply involved in the Spring Festival consumption chain, providing financial support and promotional activities to enhance consumer spending [1][2] Group 2 - Banks are focusing on scene-based financial services to stimulate consumption, with activities targeting travel, dining, and entertainment as key areas of competition [2][3] - Agricultural Bank of China is offering various benefits through its credit cards, including discounts on travel and dining, to meet the diverse needs of consumers during the Spring Festival [2][3] - China Bank is integrating local cultural elements into its promotional activities, launching events that highlight regional specialties and attractions across multiple provinces [2][3] Group 3 - Construction Bank has initiated a series of consumer-friendly activities centered around the theme of "Five Blessings," offering discounts and promotions in food, entertainment, and family activities [3] - The ice and snow economy is highlighted as a significant trend in Spring Festival tourism, with banks providing exclusive offers for travel and dining related to winter sports [3] - Postal Savings Bank is enhancing customer engagement through cultural activities and community support, showcasing a more personalized service approach [3] Group 4 - The "trade-in" initiative is gaining momentum, with banks offering additional subsidies to encourage consumers to upgrade their appliances and vehicles [5][6] - Agricultural Bank is collaborating with e-commerce platforms to provide extra benefits for customers participating in trade-in programs, enhancing the appeal of upgrading [5][6] - Construction Bank is linking trade-in promotions with home renovation financing, creating a comprehensive consumer experience for home improvement during the Spring Festival [5][6] Group 5 - The Hainan Free Trade Port is emerging as a unique market for trade-in activities, with banks offering substantial discounts on electronics and appliances [6] - The bank's promotional strategies include both online and offline channels, aiming to meet the new demands for duty-free shopping and cross-border consumption [6]