短短三个月时间内，中国农业银行旗下6家村镇银行便悉数完成收编。 近日，安徽金融监管局发布批复，正式宣布解散位于宣城市的绩溪农银村镇银行，该行全部 资产、负债及相关业务由中国农业银行承继。在此之前，农行旗下另外5家村镇银行已陆续 完成市场退出流程，这也标志着农行系村镇银行的全面改革工作圆满收尾。 自去年6月工商银行收购重庆璧山工银村镇银行，率先打响国有大行参与"村改支"的第一枪 后，国有大行推进村镇银行改革的序幕正式拉开。据统计，截至目前，国有大行通过"村改 支"模式完成整合的村镇银行共计10家，其中工商银行1家、农业银行6家、交通银行3家，改 革进程稳步推进。 三个月内收编6家 农行系村镇银行全部退出 近日，安徽金融监管局发布批复称，同意解散绩溪农银村镇银行，该行全部资产、负债、业 务、网点、员工及其他一切权利义务由中国农业银行承继。 批复明确要求，该行应立即停止一切经营活动，于15个工作日内向国家金融监督管理总局宣 城监管分局缴回许可证，并按照有关法律法规要求办理相关手续。 金融研究院查询金融监管总局官网披露的金融许可证信息发现，绩溪农银村镇银行已于2026 年1月23日正式退出。 | （图源：金融监管总 ...

Core Viewpoint - Multiple banks are targeting the year-end bonuses of workers by launching exclusive financial products and promotional activities to attract customers [2][5][10]. Group 1: Year-End Bonus Financial Products - Several banks, including Postal Savings Bank, Bank of Communications, and China Merchants Bank, have introduced dedicated sections in their mobile banking apps for year-end bonus financial products [5][6][7]. - For example, Postal Savings Bank offers products like "Daily Earnings" with a maximum annualized rate of 1.52% and a low-risk product with an annualized rate of 4.28% [6]. - China Merchants Bank has a "Year-End Bonus" section that includes tasks for customers to unlock rewards, specifically targeting customers with salary accounts [7]. Group 2: Asset Allocation Strategies - Some banks are providing asset allocation strategies for year-end bonuses, suggesting a breakdown of funds into categories such as daily expenses, safety nets, stable investments, and growth investments [8]. - For instance, the Guangdong branch of China Construction Bank recommends allocating 10%-20% for daily expenses, 5%-10% for safety, 40%-60% for stable investments, and 10%-20% for growth [8]. Group 3: Market Trends and Data - As of the end of 2025, the total scale of the bank wealth management market reached 33.29 trillion yuan, an increase of 11.15% from the beginning of the year, with the number of investors growing by 14.37% [12][13]. - The report indicates that low-risk and medium-low-risk products dominate the market, with 95.73% of the total wealth management products falling into these categories [14]. - In 2025, wealth management products generated a total return of 730.3 billion yuan for investors, with an average yield of 1.98% [14].

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 国家知识产权局信息显示，中国工商银行股份有限公司取得一项名为"程序测试覆盖率的确定方法、装 置以及存储介质"的专利，授权公告号CN116244204B，申请日期为2023年3月。 天眼查资料显示，中国工商银行股份有限公司，成立于1985年，位于北京市，是一家以从事货币金融服 务为主的企业。企业注册资本35640625.7089万人民币。通过天眼查大数据分析，中国工商银行股份有 限公司共对外投资了28家企业，参与招投标项目5000次，财产线索方面有商标信息969条，专利信息 5000条，此外企业还拥有行政许可79个。 来源：市场资讯 ...

Investment Rating - The report maintains a "Recommended" rating for the banking sector, indicating a favorable outlook for investment opportunities in this industry [40]. Core Insights - The banking sector is currently experiencing a configuration window for investment, driven by a shift in market style and a low preference for active funds towards banking stocks. The active fund holdings in the banking sector are at a five-year low, with a total market value of 30.545 billion yuan, accounting for only 1.88% of total holdings, and a low allocation ratio of 8.88% [5][15]. - Recent market performance shows that from the beginning of 2026 until January 28, the Shanghai and Shenzhen 300 Index increased by 1.9%, while the banking sector declined by 7.68%, underperforming compared to other industries [5][15]. - The report highlights that passive fund outflows have significantly impacted the banking sector, with an estimated net outflow of approximately 831.4 billion yuan attributed to ETF redemptions in January 2026. However, it is expected that the outflow pressure will diminish, leading to a stabilization of the banking sector's valuation [15][28]. - Long-term funds are increasingly influencing the pricing of banking stocks, with a notable interest from foreign capital. The average dividend yield for A-share banks is currently 4.62%, making them attractive to long-term investors, especially in a low-interest-rate environment [28][40]. Summary by Sections Section 1: Market Dynamics - The report notes a significant shift in market dynamics, with active funds showing a continued low preference for banking stocks, while funds are flowing into sectors like non-bank financials and materials [5][15]. - The banking sector's performance has been weak compared to other sectors, indicating a potential opportunity for reallocation as valuations are low [5][15]. Section 2: Fund Flows and Impact - The report details that the net outflow from stock ETFs reached 757.99 billion yuan in January 2026, with a significant portion affecting the banking sector due to its weight in the indices [15][28]. - The concentration of holdings in major ETFs, with top holders averaging around 90% ownership, suggests that any changes in these funds will have a pronounced effect on the banking sector [15][28]. Section 3: Long-term Investment Outlook - The report emphasizes the potential for a rebound in the banking sector as long-term funds, particularly insurance capital, are expected to stabilize valuations and enhance investment returns [28][40]. - Recommendations for specific banks include Industrial and Commercial Bank of China, Agricultural Bank of China, Postal Savings Bank of China, China Merchants Bank, Jiangsu Bank, and Ningbo Bank, reflecting a focus on high dividend yields and low valuations [40].

在中央金融工作会议将数字金融明确列为金融"五篇大文章"之一的政策引领下，银行业的数字化转 型已经进入关键深化期，要求银行必须将数字化从技术赋能层面，全面上升至重塑业务模式、经营 生态与价值创造的核心战略高度。基于此背景，建设一体化、智能化的数字化经营平台，成为银行 破解增长瓶颈、重构竞争优势的必然选择。数字化经营平台承担银行整合客户触点、赋能内部流 程、协同外部生态核心枢纽的角色，旨在通过数据驱动实现业务全链路的敏捷响应与智能决策。 在这一进程中， 手机银行 APP 作为银行服务线上化、数字化的核心载体与"主阵地"，其重要性日 益凸显。 它承担着三重关键使命：第一，作为服务主入口，直接承载用户对银行数字化能力的全 部感知；第二，作为数据主阵地，实时汇聚用户行为，为精准洞察与智能服务奠定基石；第三，作 为生态连接器，通过融合金融与生活场景，构建开放的服务平台。可以说， APP 运营的成败，直 接决定了银行数字化战略的落地高度与市场成效。 当前，各大银行均将手机银行 APP 置于数字化战略的核心位置，持续投入资源进行版本迭代、生 态拓展与体验升级。根据 UserTracker 多平台网民行为监测数据库统计结果， ...

重要提示 1、鹏扬科技先锋混合型证券投资基金（以下简称本基金）已经中国证监会2025年12月10日证监许可 [2025]2750号文准予注册。 2、本基金是契约型、开放式、混合型证券投资基金。 3、本基金的基金管理人和登记机构为鹏扬基金管理有限公司（以下简称本公司），基金托管人为中国 工商银行股份有限公司。 4、本基金的募集对象为符合法律法规规定的可投资于证券投资基金的个人投资者、机构投资者、合格 境外投资者以及法律法规或中国证监会允许购买证券投资基金的其他投资者。 5、本基金自2026年2月25日至2026年3月17日通过基金份额发售机构公开发售。本基金的募集期限不超 过3个月，自基金份额开始发售之日起计算。本公司也可根据基金销售情况在募集期限内适当调整基金 发售时间，并及时公告。 6、本基金的基金份额发售机构包括本公司的直销机构和本公司指定的其他销售机构，详见本公告"五 （三）基金份额发售机构"。基金份额发售机构办理本基金开户、认购等业务的网点、日期、时间和程 序等事项参照各基金份额发售机构的具体规定。 本基金A类基金份额开通直销机构和其他销售机构销售渠道，C类基金份额开通其他销售机构销售渠 道，暂不开通 ...

Core Viewpoint - The four major state-owned banks in China have held meetings to outline their operational strategies for 2026, emphasizing high-quality development and risk management while aligning with national strategies and supporting domestic demand expansion [1][4]. Group 1: Business Focus and Strategy - Bank of China (BOC) highlighted the importance of global advantages, aiming to enhance global layout, product service capabilities, and compliance management [2]. - Agricultural Bank of China (ABC) emphasized its commitment to serving rural areas and supporting comprehensive rural revitalization, focusing on credit allocation to key sectors such as agriculture and rural development [2]. - China Construction Bank (CCB) aims to strengthen collaboration across various banking sectors and enhance financial service adaptability, particularly in supporting national technological self-reliance [3]. Group 2: Support for National Strategy and Domestic Demand - Industrial and Commercial Bank of China (ICBC) and ABC stressed the integration of investments in both physical and human capital, with a focus on expanding credit and bond investments to support domestic demand and innovation [4]. - CCB reiterated its commitment to supporting national strategies and expanding domestic demand while promoting sustainable development in financial services [4]. Group 3: Risk Management and Technology - All four banks emphasized the role of technology in risk prevention and management, with BOC focusing on credit risk control and proactive trend monitoring [5][6]. - ICBC plans to accelerate the implementation of an intelligent risk control platform to manage risks effectively across key sectors [6]. - ABC aims to mitigate credit risks in local government debt and real estate while maintaining high asset quality through enhanced technological resilience [6]. - CCB is focused on building a comprehensive and proactive risk control system to ensure early identification and management of risks [6].

1月29日，2026年省级重点工程及重点民间投资项目融资推介会在太原举行。我省今年推出629项省级重 点工程，总投资超2.4万亿元。多家金融机构推出专项融资方案，15个重点项目现场签署融资意向书。 来源：太原日报 重点工程是高质量发展的"硬支撑"，我省今年推出629项省级重点工程，总投资超2.4万亿元，年度计划 投资2829.3亿元。这些项目既有支撑长远发展的打基础工程，也有贴近群众需求的惠民生项目，更有引 领产业升级的高质量载体。在推介会上，5家企业介绍了抗癌新药研发、光存储生态等科创绿色项目。 国家开发银行、工商银行、中国银行、浦发银行、山西银行推出专项融资方案，助力重点工程落地生 效。金融机构与15个重点项目签署融资意向书，意向金额超230亿元，涉及交通、能源、环保、文旅等 领域。 本次推介会由省发展改革委、省地方金融管理局、省民营经济发展局联合主办。省发展改革委今年将以 更大力度、更实举措推动重大项目建设和民间投资增长。省地方金融管理局将持续优化金融生态，常态 化搭建对接平台。省民营经济发展局推介41个民间投资项目，融资需求165亿元。（何宝国） ...

Core Insights - The price of spot gold has surged, breaking the $5,500 per ounce mark, continuing its upward trend [2] - Banks are adjusting their gold accumulation business, with some lowering interest rates to 0% for demand deposits and increasing minimum investment amounts [3][4] - Experts emphasize that gold should be viewed as a risk hedge rather than a speculative investment tool [6] Summary by Category Gold Price Movement - As of January 29, 2026, spot gold reached a peak of $5,598.75 per ounce, marking a significant increase of nearly 30% since the beginning of the year [5][6] - The price has consistently broken through key levels, including $5,000, $5,100, $5,200, $5,300, and $5,400 in a short span [5] Bank Adjustments - Ningbo Bank announced changes to its gold accumulation product interest rates, with demand deposit rates dropping to 0% and various term rates adjusted [3] - Ping An Bank also revised its rates, with demand deposit rates set at 0.01% and term deposits adjusted accordingly [4] - Other banks, including Agricultural Bank and Industrial and Commercial Bank, have implemented similar measures, requiring risk assessment for clients engaging in gold accumulation [5] Investment Guidance - Experts advise that gold should serve as a "ballast" and "insurance" in asset allocation, primarily to hedge against extreme risks and stabilize overall portfolio volatility [6] - New investors are cautioned against treating gold as a means for quick wealth accumulation and are encouraged to adopt a disciplined investment approach, such as regular fixed investments [6]

Market Overview - The Hang Seng Index (HSI) closed at 27,742.89, down by 225.20 points or 0.81% as of January 29, 16:00 Eastern Time [1] - The index reached a high of 27,909.81 and a low of 27,419.65 during the trading session, with an average price of 27,664.73 [1] - The 52-week high for the index is 27,909.81, while the 52-week low is 19,335.70 [1] Blue-Chip Stocks Performance - Most large-cap stocks experienced declines, with HSBC Holdings closing at HKD 138.219, up 0.45% compared to the Hong Kong close [2] - Tencent Holdings closed at HKD 619.286, down 0.44% from the Hong Kong close [2] Individual Stock Movements - Tencent Holdings (00700) latest price is HKD 622.000, with a slight increase of 1.000 or 0.16% [3] - Alibaba Group (09988) latest price is HKD 173.300, down by 0.200 or 0.12% [3] - HSBC Holdings (00005) latest price is HKD 137.600, up by 0.100 or 0.07% [3] - China Construction Bank (00939) latest price is HKD 8.160, up by 0.130 or 1.62% [3] - AIA Group (01299) latest price is HKD 90.950, up by 2.100 or 2.36% [3] - Xiaomi Group (01810) latest price is HKD 36.620, up by 0.300 or 0.83% [3] - NetEase (099999) latest price is HKD 206.600, down by 5.400 or 2.55% [3] - Meituan (03690) latest price is HKD 98.600, up by 0.250 or 0.25% [3] - Industrial and Commercial Bank of China (01398) latest price is HKD 6.640, up by 0.050 or 0.76% [3] - Hong Kong Exchanges and Clearing (00388) latest price is HKD 444.200, up by 5.000 or 1.14% [3] - Ping An Insurance (02318) latest price is HKD 73.300, up by 2.350 or 3.31% [3] - Baidu Group (09888) latest price is HKD 155.500, down by 0.600 or 0.38% [3] - China Bank (03988) latest price is HKD 4.760, up by 0.090 or 1.93% [3] - BYD Company (01211) latest price is HKD 101.800, down by 1.000 or 0.97% [3] - JD.com (09618) latest price is HKD 114.600, down by 1.700 or 1.46% [3] - Ctrip Group (09961) latest price is HKD 482.200, down by 13.200 or 2.66% [3]