Core Viewpoint - The State Administration of Foreign Exchange (SAFE) held a video conference to discuss foreign exchange management work for the second half of 2025, emphasizing the importance of risk prevention, strong regulation, and promoting development in the foreign exchange sector [1][2]. Group 1: Key Points from the Meeting - Since 2025, the foreign exchange management department has focused on implementing the central economic work conference's spirit, enhancing support for the real economy's high-quality development, and facilitating foreign trade [2]. - The department has introduced policies to ease foreign exchange settlement for quality enterprises and expanded cross-border trade pilot programs [2]. - A total of $30.8 billion in new investment quotas has been allocated to Qualified Domestic Institutional Investors (QDII) [2]. Group 2: Future Work Plans - The meeting outlined plans to deepen foreign exchange reform and support stable foreign trade, including optimizing foreign exchange management for new trade entities and facilitating overseas funding for engineering companies [3]. - There will be a push to cancel registration for reinvestment by foreign-invested enterprises and to facilitate cross-border financing for technology companies [3]. - The focus will also be on enhancing the regulatory capacity under open conditions, improving legal frameworks for foreign exchange management, and utilizing technology to increase regulatory efficiency [3].

证券代码：000402 证券简称：金融街 公告编号：2025-085 金融街控股股份有限公司 关于对外提供财务资助的公告 本公司及董事会全体成员保证信息披露的内容是真实、准确、完整的，没有 虚假记载、误导性陈述或者重大遗漏。 近日，公司按持股比例为四川雅恒房地产开发有限公司（以下简称"四川雅 恒"）提供财务资助，财务资助金额0.58亿元。 公司于2025年4月25日召开第十届董事会第三十五次会议，于2025年5月21日 召开2024年年度股东大会，审议通过了《公司2025年度预计新增财务资助额度的 议案》，同意公司根据经营工作安排，向为开展房地产业务而成立、公司持股且 持股比例不超过50%的项目公司提供财务资助，新增财务资助总额度不超过21亿 元。具体详见公司于2025年4月29日和2025年5月22日在指定媒体上披露的《关于 2025年度预计新增财务资助额度的公告》和《金融街控股股份有限公司2024年年 度股东大会决议公告》。 截至本公告披露日，上述财务资助额度已使用0亿元，本次使用0.58亿元，本 次使用后剩余20.42亿元未使用，本次财务资助在上述股东大会和董事会审批额度 内发生，具体公告如下： 一、事 ...

6月份，债券市场共发行各类债券87939.5亿元。国债发行15903.9亿元，地方政府债券发行11753.2亿 元，金融债券发行10738.7亿元，公司信用类债券1发行14257.3亿元，信贷资产支持证券发行247.2亿 元，同业存单发行34569.3亿元。 截至6月末，债券市场托管余额188.5万亿元。其中，银行间市场托管余额166.7万亿元，交易所市场托管 余额21.9万亿元。分券种来看，国债托管余额37.2万亿元，地方政府债券托管余额51.7万亿元，金融债 券托管余额42.7万亿元，公司信用类债券托管余额33.7万亿元，信贷资产支持证券托管余额1.0万亿元， 同业存单托管余额21.1万亿元。商业银行柜台债券托管余额2038.0亿元。 新华财经北京7月31日电人民银行31日公布2025年6月份金融市场运行情况。截至6月末，债券市场托管 余额188.5万亿元。6月份，同业拆借加权平均利率1.46%，环比下降9个基点；质押式回购加权平均利率 1.50%，环比下降6个基点。 一、债券市场发行情况 五、票据市场运行情况 6月份，商业汇票承兑发生额3.5万亿元，贴现发生额2.8万亿元。截至6月末，商业汇票承兑余额1 ...

Core Viewpoint - The State Administration of Foreign Exchange of China reported the international balance of payments for goods and services trade in June 2025, indicating a growth in trade volume and a surplus in goods trade [1] Trade Data Summary - In June 2025, the total import and export scale of China's goods and services trade reached 42,214 billion yuan, reflecting a year-on-year increase of 6% [1] - Goods trade exports amounted to 21,185 billion yuan, while imports were 15,112 billion yuan, resulting in a surplus of 6,073 billion yuan [1] - Services trade saw exports of 2,437 billion yuan and imports of 3,480 billion yuan, leading to a deficit of 1,043 billion yuan [1] Service Trade Breakdown - The main components of services trade included: - Transportation services with an import and export scale of 1,639 billion yuan - Travel services with an import and export scale of 1,603 billion yuan - Other commercial services with an import and export scale of 967 billion yuan - Telecommunications, computer, and information services with an import and export scale of 659 billion yuan [1] Dollar Value Summary - In dollar terms, the goods and services trade exports in June 2025 were valued at 32.92 billion USD, while imports were valued at 25.91 billion USD, resulting in a surplus of 7.01 billion USD [1]

新华财经北京7月31日电国家统计局31日发布2025年7月中国采购经理指数运行情况。7月份，制造业采 购经理指数（PMI）为49.3%，比上月下降0.4个百分点，制造业景气水平有所回落；非制造业商务活动 指数为50.1%，比上月下降0.4个百分点，仍高于临界点。 一、中国制造业采购经理指数运行情况 7月份，制造业采购经理指数（PMI）为49.3%，比上月下降0.4个百分点，制造业景气水平有所回落。 从企业规模看，大型企业PMI为50.3%，比上月下降0.9个百分点，高于临界点；中型企业PMI为49.5%， 比上月上升0.9个百分点，低于临界点；小型企业PMI为46.4%，比上月下降0.9个百分点，低于临界点。 从分类指数看，在构成制造业PMI的5个分类指数中，生产指数和供应商配送时间指数均高于临界点， 新订单指数、原材料库存指数和从业人员指数低于临界点。 生产指数为50.5%，比上月下降0.5个百分点，仍高于临界点，表明制造业生产延续扩张。 新订单指数为49.4%，比上月下降0.8个百分点，表明制造业市场需求有所放缓。 原材料库存指数为47.7%，比上月下降0.3个百分点，表明制造业主要原材料库存量继续减少。 ...

来源：金融界 公司回答表示：投资者您好，谢谢您对公司的关注。公司持续与武汉市各级政府、各相关职能部门保持 沟通，多次召开专项会议共同协商解决方案，具体方案尚未最终确定。公司将根据实际情况，结合监管 机关要求，达到信息披露条件时及时披露。如有其他问题，欢迎致电公司投资者咨询专线010- 66573955。 金融界7月29日消息，有投资者在互动平台向金 融 街提问：关于公司武汉东湖项目，公司说一直在和武 汉市各级政府协调协商，请问最近一次协商是什么时候，和武汉市哪个政府部门协商的，有何结果，谢 谢。 ...

Group 1 - The announcement is regarding the 2023 fourth tranche of medium-term notes (Type II) by Financial Street Holdings Co., Ltd, ensuring smooth interest payment operations for investors [1] - The interest payment will be made by the China Interbank Market Clearing House to the designated bank accounts of bondholders, with provisions for delays due to public holidays [1] - Bondholders must notify the clearing house of any changes to their fund transfer paths before the interest payment date to avoid delays in receiving funds [1] Group 2 - Contact information for inquiries related to the interest payment is provided, including multiple contacts from the operations department [2]

为保证金融街控股股份有限公司 2023 年度第四期中期票据（品种一）2025 年付息工作的顺利进行，方便投资者及时领取付息资金，现将有关事宜公告如下： 证券代码：000402 证券简称：金融街 公告编号：2025-083 金融街控股股份有限公司 2023 年度第四期中期票据（品种一）2025 年付息公告 本公司及董事会全体成员保证信息披露的内容是真实、准确、完整的，没 有虚假记载、误导性陈述或者重大遗漏。 三、本次付息相关机构 联系电话：010-56051920 3. 登记托管机构：银行间市场清算所股份有限公司 联系部门：运营部 联系人：谢晨燕、陈龚荣 联系电话：021-23198708、23198682、63323877 特此公告。 金融街控股股份有限公司 一、本期债券基本情况 11. 付息日：存续期内每年的 8 月 3 日（如遇法定节假日或休息日，则顺延 至其后的第一个工作日，顺延期间不另计息） 1. 发行人：金融街控股股份有限公司 2. 债券名称：金融街控股股份有限公司 2023 年度第四期中期票据（品种一） 3. 债券简称：23 金融街 MTN004A 4. 债券代码：102381914 5. 发行总 ...

二、付息办法 证券代码：000402 证券简称：金融街 公告编号：2025-084 金融街控股股份有限公司 2023 年度第四期中期票据（品种二）2025 年付息公告 本公司及董事会全体成员保证信息披露的内容是真实、准确、完整的，没 有虚假记载、误导性陈述或者重大遗漏。 为保证金融街控股股份有限公司 2023 年度第四期中期票据（品种二）2025 年付息工作的顺利进行，方便投资者及时领取付息资金，现将有关事宜公告如下： 一、本期债券基本情况 1. 发行人：金融街控股股份有限公司 11. 付息日：存续期内每年的 8 月 3 日（如遇法定节假日或休息日，则顺延 至其后的第一个工作日，顺延期间不另计息） 2. 债券名称：金融街控股股份有限公司 2023 年度第四期中期票据（品种二） 3. 债券简称：23 金融街 MTN004B 4. 债券代码：102381915 5. 发行总额：人民币 50,000 万元 6. 起息日：2023 年 8 月 3 日 7. 债券期限：5+2 年 8. 债券余额：人民币 50,000 万元 9. 债项评级：AAA 10. 本计息期债券利率：3.76% 12. 本期应偿付利息金额：人民币 ...

Core Viewpoint - The article discusses the trend of insurance capital entering and exiting the stock market, particularly focusing on the strategic shifts of insurance companies in response to market conditions and company performance. Group 1: Insurance Capital Entry - In the aftermath of the 2015 stock market crash, the China Insurance Regulatory Commission relaxed regulations on insurance capital's equity investment, encouraging insurance funds to stabilize the market [1][3]. - The Baoneng Group became a significant player in the stock market, particularly targeting Vanke, a leading real estate company, due to its low stock price and dispersed shareholding [3][4]. - Baoneng's aggressive acquisition strategy included multiple rounds of stock purchases, increasing its stake in Vanke to 20.008% by December 2015, making it the largest shareholder [4][5]. Group 2: Insurance Capital Exit - Following the initial investments, Baoneng faced resistance from Vanke's management, leading to a gradual exit from its position, although it still realized substantial financial gains [6]. - Other insurance companies, such as China Life, also began to reduce their holdings in Vanke, with a reported 62% decrease in shares from June 2020 to 2021, indicating a broader trend of divestment in the real estate sector [6][7]. - The decline in Vanke's performance, including slowed revenue growth and fluctuating net profits, contributed to the decision of insurance funds to withdraw from real estate investments [7]. Group 3: Case Studies of Other Companies - Sunshine City, which brought in the Taikang Group as a strategic investor in 2020, faced severe operational challenges, leading to a projected net loss of 4.5 billion to 5.8 billion yuan in 2021 [8][10]. - Taikang's subsequent reduction of its stake in Sunshine City from 13.53% to 3.99% reflects a shift in investment strategy due to deteriorating market conditions [9][10]. - The case of Dajia Life (formerly Anbang Life) and Financial Street illustrates a similar trend, where Dajia Life reduced its holdings significantly due to the overall downturn in the real estate market, with a total reduction of 5% in ownership by 2024 [11][15][16]. Group 4: Market Dynamics and Investment Strategy - The article emphasizes that the actions of insurance capital in both entering and exiting investments are influenced by regulatory environments, market cycles, and the fundamental performance of the companies involved [22]. - The trend of insurance capital adjusting its portfolio in response to market risks and asset allocation needs highlights the importance of financial stability and investment returns in decision-making [22].