6月22日，跨境支付通正式上线，中国内地与香港双向跨境汇款实现"秒级体验"。 目前，首批参与跨境支付通的内地银行包括工行、农行、中行、建行、交行、招行；香港银 行包括中银香港、东亚银行、建银亚洲、恒生银行、汇丰香港、工银亚洲，后续将进一步扩 大范围。与传统跨境汇款相比，跨境支付通更加方便快捷，以工行App为例，在"跨境支付 通"界面，用户只需填写收款信息、汇款信息即可办理跨境实时汇款。 值得一提的是，试点期间，多家银行推出"免手续费"、"转账奖励"等活动。比如，农行、建 行、工银亚洲等发布公告宣布免除客户手续费；建银亚洲、汇丰香港等推出转账奖赏活动， 抢滩跨境支付通市场。 首批12家银行参与跨境支付通， 内地香港服务时间等有差异 6月22日，跨境支付通正式上线。当前，中国内地和香港各有六家银行入围跨境支付通首批 参与机构。其中，内地银行为工商银行、农业银行、中国银行、建设银行、交通银行、招商 银行；香港银行为中银香港、东亚银行、建银亚洲、恒生银行、汇丰银行、工银亚洲。 | | 北向(香港至内地) | 南向(内地至香港) | | --- | --- | --- | | 汇款人 | 香港身份证持有人 | 内地身份 ...

Core Viewpoint - The collaboration between China Ping An and the drama "The Lychee of Chang'an" highlights the modern financial service concept of efficiency and cost-effectiveness, paralleling the historical challenges faced by the character Li Shande in transporting lychees over long distances [1][4]. Group 1: Marketing Strategy - The drama "The Lychee of Chang'an" has gained popularity, with the protagonist facing financial and logistical challenges in lychee transportation, which resonates with modern financial needs [3][4]. - Ping An Bank's marketing campaign for the Ping An Good Car Owner Credit Card uses slogans like "Let you save money effortlessly" to connect with the drama's themes [5][7]. - The credit card series targets car owners, offering benefits such as fuel discounts and various lifestyle services, establishing itself as a flagship product in Ping An's "finance + ecosystem" strategy [7][8]. Group 2: Product Features - The Ping An Good Car Owner Credit Card has evolved from basic benefits to a comprehensive service ecosystem, addressing modern car owners' pain points [8][9]. - The "Car Owner's Freedom Exchange" feature allows users to redeem various benefits, including discounts on fuel, charging, and lifestyle services, with potential annual savings of up to 7200 yuan [9][10]. - The card also offers additional perks for first-time users, such as cash vouchers and international cashback, enhancing its appeal to a younger demographic [12][14]. Group 3: Target Audience and Engagement - The marketing strategy focuses on engaging young consumers, aligning with their preferences for high cost-performance and innovative services [13][14]. - Ping An Bank has utilized social media and digital platforms to create emotional connections with young users, transforming the credit card from a payment tool to a "social currency" [14][15]. - The bank's ongoing efforts to optimize service experiences and deepen its automotive ecosystem reflect its commitment to becoming a leading player in the financial services industry [15].

南方财经记者 黄子潇 深圳报道 2025以来，各家股份制银行的深圳分行密集换帅，包括民生、浦发、光大、平安、招行的深圳分行5家 机构。 整体来看，上述机构深圳分行的新任一把手大多从总行部门调任深圳。 在近日举行的"民生银行&深圳股交助力科创企业成长大会暨科技金融特色机构挂牌仪式"上，陈大鹏以 民生银行深圳分行党委书记的身份出席。记者了解到，其深圳分行行长任职资格尚待监管审批。履历显 示，陈大鹏历任民生银行小微金融部负责人、信用卡中心总裁等职务。2024年年报显示，民生银行深圳 分行资产规模为2940.8亿元，拥有2026名员工以及60个分支机构。 5月23日，袁蕊获深圳金融监管局核准出任浦发银行深圳分行行长。履历显示，袁蕊此前担任浦发银行 总行科技金融部总经理。早在今年2月，袁蕊就以浦发银行深圳分行党委书记的身份出席该行各项活 动。2024年年报显示，浦发银行深圳分行资产规模达3626.02亿元，拥有1886名员工和62个分支机构。 3月6日，尚文程获深圳金融监管局核准出任光大银行深圳分行行长。履历显示，尚文程此前担任光大银 行总行审计部总经理。2024年年报显示，光大银行深圳分行资产规模达2933.8亿元， ...

Core Viewpoint - The article analyzes the customer and business structure of major commercial banks in China, focusing on the comparison of corporate and personal loan structures as of the end of 2024 and the first quarter of 2025, highlighting the dominance of corporate loans in the overall loan portfolio of these banks [1][3]. Asset Overview - As of the end of 2024, major commercial banks with total assets exceeding 4 trillion yuan include six state-owned banks and seven national joint-stock banks, with total assets of over 5 trillion yuan expected by March 2025 [1]. - The "Big Four" banks (ICBC, ABC, CCB, and BOC) have total assets exceeding 35 trillion yuan, with ICBC surpassing 50 trillion yuan by March 2025 [1][2]. Loan Composition - Loans remain the primary component of assets for these banks, with the "Big Four" having total loans exceeding 20 trillion yuan each by the end of 2024 [3]. - CCB has the highest loan-to-asset ratio at 63.58%, while Postal Savings Bank has the lowest at 52.17% [3][4]. Loan Structure - Most major commercial banks, except for Postal Savings Bank,招商银行, and 平安银行, primarily focus on corporate loans, with corporate loans accounting for over 50% of total loans [5]. - By the end of 2024, the highest corporate loan ratio is seen in交通银行 at 65.07%, while Postal Savings Bank has only 40.95% [5][8]. Personal Loan Insights - Personal loans are primarily housing loans for the "Big Four," with CCB's housing loans making up 69.67% of personal loans by the end of 2024 [8][9]. - Postal Savings Bank's housing loans account for less than 50% of its personal loans, but the absolute amount exceeds 2 trillion yuan [10]. Credit Card Balances - The "Big Four" banks have relatively low credit card balances as a percentage of personal loans, generally below 10%, but their absolute amounts are significant due to their large size [11]. - 招商银行 has a credit card balance of 947.84 billion yuan, surpassing that of ABC, ICBC, and BOC, and is close to CCB's balance [11][12].

Core Viewpoint - The article emphasizes that the banking industry has a strong business model despite common misconceptions, and it suggests that the current low valuations present significant investment opportunities [3][4][10]. Group 1: Misunderstandings about the Banking Industry - Misunderstanding 1: Banks are not a good business model. In reality, banks have historically been strong business models, with high profitability despite low valuations [3][4]. - Misunderstanding 2: Banks are overly affected by economic conditions. The article argues that banks manage bad debts over long cycles, and their performance is not as fragile as perceived [4][5]. - Misunderstanding 3: Declining interest rates and narrowing net interest margins (NIM) will hinder profit growth. The article states that while NIM is low, it is unlikely to decrease significantly further, and banks can still achieve profit growth [7][8]. Group 2: Current State of the Banking Sector - The current non-performing loan (NPL) ratio in China's banking sector is 1.8%, with a provision coverage ratio of 190%, indicating that the bad debt cycle is nearing its end [5][6]. - The article highlights that the banking sector has been managing bad debts effectively over the past decade, which has allowed for stable profit growth [5][6]. - The banking sector's NIM was reported at 2.06% in Q2, which is near historical lows, but the article suggests that this level is sustainable [7][8]. Group 3: Future Profitability and Valuation Potential - The article predicts that as bad debts are resolved and NIM stabilizes, banks will see a gradual increase in return on equity (ROE) and profit growth, potentially reaching 15%-20% ROE [10][11]. - It is suggested that the average price-to-book (PB) ratio for major banks could increase significantly, indicating substantial upside potential in valuations [12][13]. - The article argues that the banking sector is cyclical, and as the cycle turns positive, banks could experience significant valuation recovery, similar to past cycles [10][13]. Group 4: Investment Opportunities - The article posits that the current low interest in banks among institutional investors presents a unique opportunity for individual investors to capitalize on undervalued stocks [19][20]. - It emphasizes that while some banks like China Merchants Bank and Ping An are recognized as strong performers, there are opportunities across the entire banking sector, as many banks have yet to experience valuation recovery [22][24]. - The potential for significant price appreciation exists, as historical patterns show that banks can rapidly increase in value during recovery phases [17][18].

Core Viewpoint - The banking industry is experiencing a significant salary reduction trend, particularly affecting high-level executives, with a notable increase in the number of banks reporting salary cuts and the extent of these reductions [2][3][5]. Group 1: Salary Reduction Trends - In 2023, 14 out of 42 listed banks in A-shares reported a decline in average salary, with the maximum drop reaching 13.59%. This number increased to 18 banks in 2024, with the maximum decline expanding to 15% [2]. - The total compensation for bank management decreased from 870 million yuan in 2023 to 700 million yuan in 2024, a drop of 19.5%. Meanwhile, the average salary for bank employees fell from 462,300 yuan to 444,900 yuan, a decrease of 2.68% [6][7]. Group 2: Executive Salary Cuts - A significant 78.5% of the management teams in listed banks saw their salaries decrease year-on-year in 2024. The average salary for executives in various banks has been notably impacted, with some banks experiencing drastic reductions [5][10]. - Specific banks like Everbright Bank and Zhejiang Commercial Bank saw executive salary reductions of 57.9% and 39.72%, respectively, indicating a trend where executive pay is being cut more severely than that of general employees [10]. Group 3: Factors Influencing Salary Changes - The primary driver of salary fluctuations in banks is the variable component of compensation, which is heavily influenced by the banks' revenue and profit conditions. The floating salary constitutes 65% of the total compensation, making it a critical factor [12][13]. - The banking sector is facing significant revenue pressures, with the average net interest margin dropping to 1.52% in 2024, a decline of 17 basis points from 2023. This has led to a 2.20% decrease in net interest income, marking two consecutive years of negative growth [14][15]. Group 4: Structural Adjustments and Policy Impacts - The banking industry is undergoing structural adjustments, with a focus on risk management and governance. Policies such as the "salary limit order" have imposed constraints on executive compensation, leading to a shift in how salaries are structured [16][17]. - The emphasis on "cost reduction and efficiency enhancement" has resulted in banks prioritizing compensation for frontline and value-creating positions, further contributing to the decline in executive salaries [18][17]. Group 5: Performance-Based Salary Recovery - The trend of "reverse salary recovery" has emerged, where banks reclaim performance bonuses from executives based on risk management failures. This practice aims to align compensation with long-term risk management rather than short-term performance [20][21]. - The total amount reclaimed through reverse salary recovery has approached 99 million yuan, indicating a significant shift in the banking industry's approach to executive compensation and risk management [20].

Core Viewpoint - The Financial Supervision and Administration Bureau has issued guidelines stating that the compensation of personnel responsible for market risk management in commercial banks should not be linked to direct operating profits [1] Group 1: Compensation and Incentives - Commercial banks are required to avoid conflicts of interest between their compensation systems and the objectives of market risk management [1] - The board of directors and senior management should ensure that the compensation structure does not encourage excessive risk-taking behavior [1] - Performance evaluations should focus on long-term operational risks rather than being overly concentrated on short-term profit performance [1] Group 2: Market Risk Management - The guidelines emphasize the importance of aligning risk management practices with compensation to prevent negative effects on risk-taking [1] - The compensation of staff responsible for market risk management should be independent of direct operating income [1]

Core Viewpoint - The launch of the Cross-Border Payment System, set to go live on June 22, 2025, aims to facilitate easy and instant small remittances between residents of mainland China and Hong Kong through mobile phones, enhancing financial cooperation between the two regions [2][3]. Group 1: System Overview - The Cross-Border Payment System connects the rapid payment systems of mainland China and Hong Kong, providing efficient, convenient, and secure cross-border payment services for residents [2][3]. - The system is designed to support real-time transactions, allowing users to initiate remittances using mobile numbers or bank accounts, significantly improving the efficiency of cross-border payments compared to traditional methods [4][5]. Group 2: Benefits and Features - The system offers three main advantages over traditional cross-border remittances: reduced transaction chains, real-time processing for certain amounts, and lower costs due to fewer intermediaries [4][5]. - It supports small, convenient remittances for personal use without the need for extensive documentation, catering to the growing demand for efficient cross-border financial services [5][6]. Group 3: Institutional Participation - Initial participating institutions include major banks from both mainland China and Hong Kong, with plans to gradually expand the range of participating entities [3][4]. - The system will facilitate various payment scenarios, including tuition fees, medical payments, and salary disbursements, enhancing the financial services available to residents [5][6]. Group 4: Strategic Importance - The Cross-Border Payment System is a significant step in strengthening financial cooperation between mainland China and Hong Kong, supporting Hong Kong's status as an international financial center and enhancing the use of the Renminbi in cross-border transactions [7][8]. - The initiative reflects the central government's commitment to Hong Kong's long-term prosperity and stability, aiming to integrate the region more closely into national development strategies [8].

Market Overview - The Shanghai Composite Index fell by 0.07% on June 20, with nine industries rising, led by transportation and food & beverage, which increased by 0.88% and 0.73% respectively [1] - The banking sector ranked third in terms of daily gains, rising by 0.69% [1] Capital Flow - The main capital outflow from the two markets totaled 21.812 billion yuan, with 10 industries experiencing net inflows [1] - The banking sector saw a net inflow of 1.940 billion yuan, the highest among all industries, while the food & beverage sector followed with a net inflow of 1.356 billion yuan [1] Banking Sector Performance - In the banking sector, 40 out of 42 stocks rose, with only one stock declining [2] - The top three banks by net inflow were China Merchants Bank (2.25 billion yuan), Industrial and Commercial Bank of China (2.16 billion yuan), and Ping An Bank (2.13 billion yuan) [2] - The banks with the highest net outflows included Chengdu Bank (34.93 million yuan), Changshu Bank (25.44 million yuan), and Shanghai Rural Commercial Bank (14.34 million yuan) [2] Individual Bank Performance - The following banks had notable performance: - China Merchants Bank: +0.79%, turnover rate 0.22%, net inflow 225.28 million yuan [3] - Industrial and Commercial Bank of China: +0.96%, turnover rate 0.12%, net inflow 216.41 million yuan [3] - Ping An Bank: +1.20%, turnover rate 0.67%, net inflow 212.65 million yuan [3] - Agricultural Bank of China: +0.52%, turnover rate 0.10%, net inflow 147.39 million yuan [3] - Chengdu Bank had a net outflow of 34.93 million yuan, while Changshu Bank and Shanghai Rural Commercial Bank had net outflows of 25.44 million yuan and 14.34 million yuan respectively [3]

数字赋能，情系高原。近日，平安银行北京分行携手北京桂馨慈善基金会，为青海省囊谦县毛庄乡孜荣 寄宿小学送去20台电脑设备，以务实举措持续深化对西部高原学校的精准支援，让大山里的孩子连接世 界。 公益支教，精准帮扶结硕果 青海省囊谦县毛庄乡孜荣寄宿小学，作为平安银行北京分行长期对口帮扶的学校，其发展始终牵动着平 安人的心弦。自建立对口帮扶关系以来，平安银行北京分行便将支持孜荣寄宿小学的发展纳入年度社会 责任工作重点，持续投入、精准发力。过去的几年里，平安银行北京分行员工多次深入高原腹地，用公 益支教点亮孩子们的世界。在实地了解学校需求后，陆续为学校捐赠了急需的冬季取暖物资、学习用 品、体育器材以及图书等，切实改善师生的教学与生活条件。北京分行还设立了"一对一结对子"公益支 教专项奖学金，员工们用爱心捐款资助热爱学习的孩子，直到他们上了大学。点滴努力展现了负责任金 融企业金融为民、回馈社会的坚定承诺，也为此次数字化帮扶奠定了坚实的基础。 科技助力，绿色赋能新里程 在数字化浪潮席卷的今天，山区学校对信息技术资源的渴求尤为迫切。此次捐赠，正是平安银行北京分 行在延续过往物质帮扶和精神激励成果的基础上，对提升该校数字教学 ...