Core Viewpoint - The People's Bank of China (PBOC) is committed to implementing a series of monetary policy measures to support economic growth, manage financial risks, and enhance financial services, while also promoting high-quality development and financial reform [1][6]. Monetary Policy Measures - The PBOC has adopted a moderately loose monetary policy, reducing the reserve requirement ratio and utilizing various monetary policy tools to maintain ample liquidity [1][6]. - Policy interest rates, structural monetary policy tool rates, and personal housing fund loan rates have been lowered to reduce financing costs [1][6]. Financial Support for Economic Transition - The PBOC is focusing on supporting technological innovation, boosting consumption, aiding small and micro enterprises, and stabilizing foreign trade [2][6]. - As of the end of June, loans for technology, green projects, inclusive small and micro enterprises, the elderly care industry, and the digital economy grew by 12.5%, 25.5%, 12.3%, 43%, and 11.5% year-on-year, respectively [2]. Risk Management - Financial support for resolving debt risks of financing platforms has shown significant progress, with orderly risk management in key institutions and regions [2][6]. - The establishment of the PBOC's Macro-Prudential and Financial Stability Committee has strengthened the financial stability framework [2]. Financial Market Opening - The PBOC is advancing the construction and development of the Cross-Border Interbank Payment System (CIPS) and enhancing cross-border payment connectivity with multiple countries [3][6]. - Efforts are being made to deepen the offshore RMB market and promote the use of RMB in cross-border transactions [3][7]. Financial Management and Service Improvement - The PBOC is accelerating important legislative reforms and enhancing the regulatory framework for the financial sector [4][8]. - The implementation of the "Five Major Articles" in finance has led to comprehensive statistical tracking and improved financial service quality [4][8]. Party Governance and Internal Management - The PBOC is committed to strict party governance and internal management, enhancing the effectiveness of its organizational structure and supervision mechanisms [5][6]. - Continuous education on party discipline and regulations is being emphasized to maintain integrity and accountability within the institution [5].

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 ...

Core Insights - The People's Bank of China reported the financial market operations for June 2025, highlighting a bond market custody balance of 188.5 trillion yuan as of the end of June [1][2]. Bond Market Issuance - In June, the bond market issued a total of 87,939.5 billion yuan in various bonds, including 15,903.9 billion yuan in government bonds, 11,753.2 billion yuan in local government bonds, 10,738.7 billion yuan in financial bonds, 14,257.3 billion yuan in corporate credit bonds, 247.2 billion yuan in credit asset-backed securities, and 34,569.3 billion yuan in interbank certificates of deposit [2]. Bond Market Operations - The interbank bond market saw a total transaction volume of 34.3 trillion yuan in June, with an average daily transaction of 1.7 trillion yuan, reflecting a year-on-year decrease of 1.2% but a month-on-month increase of 6.2% [3]. Foreign Participation in Bond Market - As of the end of June, foreign institutions held a custody balance of 4.3 trillion yuan in the Chinese bond market, accounting for 2.3% of the total custody balance [4]. Money Market Operations - The interbank lending market recorded a transaction volume of 8.4 trillion yuan in June, representing a year-on-year increase of 11.2% and a month-on-month increase of 26.0% [5]. Commercial Paper Market - In June, the acceptance amount of commercial bills reached 3.5 trillion yuan, while the discount amount was 2.8 trillion yuan, with small and micro enterprises accounting for 93.2% of all bill issuers [6]. Stock Market Performance - By the end of June, the Shanghai Composite Index closed at 3,444.4 points, up 96.9 points or 2.9%, while the Shenzhen Component Index rose to 10,465.1 points, an increase of 424.5 points or 4.2% [7]. Holder Structure in Interbank Bond Market - As of the end of June, there were 3,989 institutional members in the interbank bond market, all of which were financial institutions, with the top 50 investors in corporate credit bonds holding 48.0% of the total [9].

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]

Group 1: Manufacturing PMI Overview - In July, the Manufacturing Purchasing Managers' Index (PMI) was 49.3%, a decrease of 0.4 percentage points from the previous month, indicating a decline in manufacturing activity [2][4] - The production index was 50.5%, down 0.5 percentage points, still indicating expansion in manufacturing production [4][5] - The new orders index fell to 49.4%, a decrease of 0.8 percentage points, suggesting a slowdown in market demand [4][5] Group 2: Enterprise Size Analysis - Large enterprises had a PMI of 50.3%, down 0.9 percentage points, remaining above the critical point [4] - Medium-sized enterprises reported a PMI of 49.5%, an increase of 0.9 percentage points, but still below the critical point [4] - Small enterprises had a PMI of 46.4%, a decrease of 0.9 percentage points, indicating continued contraction [4] Group 3: Non-Manufacturing PMI Overview - The Non-Manufacturing Business Activity Index was 50.1%, down 0.4 percentage points, but still above the critical point [8] - The construction industry index was 50.6%, down 2.2 percentage points, while the service industry index was 50.0%, down 0.1 percentage points [11] - The new orders index for non-manufacturing fell to 45.7%, a decrease of 0.9 percentage points, indicating a decline in market demand [13] Group 4: Price and Employment Indices - The input price index for non-manufacturing was 50.3%, up 0.4 percentage points, indicating a rise in input costs [13] - The sales price index was 47.9%, down 0.9 percentage points, suggesting a decrease in sales prices [13] - The employment index for non-manufacturing was 45.6%, up 0.1 percentage points, indicating a slight improvement in employment conditions [13] Group 5: Composite PMI Overview - The Composite PMI Output Index was 50.2%, a decrease of 0.5 percentage points, but still above the critical point, indicating overall expansion in production activities [17]

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 ...