央行最新报告： 金融风险整体收敛总体可控

Core Insights - The People's Bank of China released the "China Financial Stability Report (2025)", indicating that the overall operation of the financial industry is stable, with financial risks being controllable and indicators within reasonable ranges [1][2]. Group 1: Bank Ratings - In the first half of 2025, the central bank rated 3,529 banking institutions, including 21 national banks and 3,508 local banks, showing that the overall operation of these banks is stable and risks are manageable [1]. - The rating system categorizes banks into 11 levels, from 1 to 10 and a D level, with levels 1 to 5 (green zone) and 6 to 7 (yellow zone) considered safe, while levels 8 to D (red zone) indicate higher risk [1][2]. - Out of the rated banks, 3,217 are in levels 1-7, accounting for 98% of total assets, while 312 banks in the red zone have a total asset scale of 9.4 trillion yuan, representing 2.1% [2]. Group 2: Investment and Policy Outlook - The report highlights the financial system's role in enhancing the investment value of listed companies and increasing the participation of long-term funds in the market [2]. - The China Securities Regulatory Commission and other relevant departments will collaborate to improve the policy environment for long-term investments, aiming to increase the scale and proportion of long-term funds invested in A-shares [2]. - Looking ahead, the report emphasizes the implementation of proactive macro policies, enhancing counter-cyclical adjustments, and preventing key area risks to ensure a good start for the 14th Five-Year Plan [3].