《报告》共分四章，全面总结2024年中国银行业贸易金融业务发展现状，深入探究其创新与发展， 分析业务开展面临的风险与挑战，并尝试展望银行业贸易金融未来的发展机遇和方向。此外，《报告》 还设置专栏，分享银行贸易金融领域的典型案例，并梳理贸易金融相关政策，旨在为促进中国银行业在 贸易金融领域的创新与发展提供借鉴与参考。 中国经济网北京9月23日讯 近日，中国银行业协会发布了《中国贸易金融行业发展报告（2024— 2025）》（以下简称《报告》）。这是中国银行业协会连续第九年发布贸易金融行业发展报告。《报 告》由中国银行业协会贸易金融专业委员会副主任单位上海浦东发展银行牵头，国家开发银行、中国工 商银行、中国农业银行、中国银行、中国建设银行、交通银行、中信银行、中国光大银行、招商银行、 中国民生银行、汇丰银行（中国）、中国邮政储蓄银行、华夏银行、兴业银行、渤海银行、北京银行等 16家常务委员会成员共同参与撰写。 在坚实的发展基础和强有力的政策支持下，银行业贸易金融业务整体保持稳步增长态势。据中国银 行业协会贸易金融专业委员会不完全统计，2024年银行业国际结算量12.75万亿美元，国内信用证结算 量3.62万亿元， ...

Core Insights - The financial sector in China has achieved significant milestones during the "14th Five-Year Plan" period, with comprehensive reforms and modernization of governance systems [1][2] - The banking and insurance sectors have seen total assets exceed 500 trillion yuan, with an annual growth rate of 9% over the past five years [2] - The capital market has experienced a robust increase in direct financing, with total financing reaching 57.5 trillion yuan in the last five years [3] Group 1: Financial Sector Achievements - As of June 2023, China's banking sector total assets reached nearly 470 trillion yuan, ranking first globally [1] - The stock and bond markets are the second largest in the world, with foreign exchange reserves maintaining the top position for 20 consecutive years [1] - The financial services quality, efficiency, and inclusiveness have significantly improved, with a focus on green finance, inclusive finance, and digital finance [1] Group 2: Banking and Insurance Sector Developments - The banking and insurance sectors have provided an additional 170 trillion yuan in funding to the real economy over the past five years [2] - The balance of loans to small and micro enterprises reached 36 trillion yuan, 2.3 times that of the end of the "13th Five-Year Plan," with a 2 percentage point decrease in interest rates [2] - The insurance industry has paid out 9 trillion yuan in claims, a 61.7% increase compared to the "13th Five-Year Plan" period [2] Group 3: Capital Market Growth - The A-share market's total market capitalization surpassed 100 trillion yuan for the first time in August 2023 [3] - The proportion of direct financing has increased by 2.8 percentage points compared to the end of the "13th Five-Year Plan," reaching 31.6% [3] - Over 90% of newly listed companies in recent years are technology firms or have high technological content, with the technology sector's market capitalization exceeding 25% [3]

据报道，日前，华为全联接大会2025上，华为技术有限公司宣布HarmonyOS5（鸿蒙5）终端设备数量已突破1700万台，并正式启动"天工计划"，未来将投入 10亿元资金与资源，全面支持鸿蒙AI生态创新，联合开发者共同迈进鸿蒙AI新阶段。 截至2025年9月23日 10:55，中证金融科技主题指数下跌3.60%。成分股方面，中科金财领跌6.64%，信安世纪下跌6.51%，恒宝股份下跌5.87%，金证股份下 跌5.82%，银之杰下跌5.70%。金融科技ETF(516860)下跌3.75%，最新报价1.54元。拉长时间看，截至2025年9月22日，金融科技ETF近1周累计上涨0.57%。 流动性方面，金融科技ETF盘中换手8.01%，成交2.05亿元。拉长时间看，截至9月22日，金融科技ETF近1月日均成交3.09亿元，居可比基金前2。 此前，国务院办公厅印发《关于做好金融"五篇大文章"的指导意见》，提出"推动数字金融高质量发展，规范电子签名技术在金融领域的应用"。当前，数字 金融加速渗透全球，金融科技已成为驱动金融业守正与创新的核心力量。 机构指出，AI应用生态日趋完善，大模型技术在金融、医疗、教育等垂直领域的 ...

Core Viewpoint - The equity market has shown strong recovery over the past year, with equity-based financial products performing well, particularly the "Tiangong" series from Huaxia Wealth Management, which has significantly increased in net value [1] Group 1: Product and Service Development - Huaxia Wealth Management has upgraded its "Wealth Management Factory" model from version 1.0 to 2.0, emphasizing customized production, standardized processes, and a dual focus on products and services [2] - The 2.0 model includes seven key features: customized production, systematic operation, standardized processes, centralized control, ESG integration, digital transformation, and a balance between products and services [2][3] Group 2: Product Line and Service Capabilities - Huaxia Wealth Management has developed a diversified product system covering cash management, fixed income, equity, mixed assets, and ESG, catering to various risk preferences and investment horizons [3] - The company has established a Customer Experience Department to enhance service delivery and responsiveness to diverse client needs, aiming for a personalized service approach [3] Group 3: Growth and Scale - Huaxia Wealth Management's product management scale surpassed 1 trillion yuan by June 2025, achieving a doubling of scale since its first year and maintaining high growth rates [4] - The company aims to leverage its scale as a foundation for comprehensive capabilities and to enhance product yield competitiveness and client experience [5] Group 4: Strategic Initiatives - The "Tiangong" series of passive index financial products focuses on key national industrial policies and aims to provide better index product services with competitive fee structures [6] - Huaxia Wealth Management is actively involved in green finance, having issued over 32 billion yuan in ESG financial products and integrating ESG principles into its business operations [7] Group 5: Future Vision - As it approaches the end of the 14th Five-Year Plan and the beginning of the 15th, Huaxia Wealth Management plans to enhance its "Wealth Management Factory" model and strengthen its research capabilities to contribute to wealth preservation and economic development [8]

投资咨询业务资格：证监许可【2011】1778 号 资讯早班车 资讯早班车-2025-09-23 一、 宏观数据速览 | 发布日期 | 指标日期 | 指标名称 | 单位 | 当期值 | 上期值 | 去年同期值 | | --- | --- | --- | --- | --- | --- | --- | | 20250715 | 2025/06 | GDP:不变价:当季同比 | % | 5.20 | 5.40 | 4.70 | | 20250831 | 2025/08 | 制造业 PMI | % | 49.40 | 49.30 | 49.10 | | 20250831 | 2025/08 | 非制造业 PMI:商务活 动 | % | 50.30 | 50.10 | 50.30 | | 20250915 | 2025/08 | 社会融资规模增量:当 | 亿元 | | 25668.00 11307.00 | 30323.00 | | | | 月值 | | | | | | 20250912 | 2025/08 | M0(流通中的现金):同 比 | % | 11.70 | 11.80 | 12.20 | | 202509 ...

Group 1 - The core viewpoint emphasizes the importance of financial support for small and micro enterprises, highlighting the role of a financing coordination mechanism in facilitating access to loans [1][2]. - As of June this year, the balance of inclusive loans for small and micro enterprises reached 36 trillion yuan, a year-on-year increase of 12.3%, with credit loans accounting for nearly 30% [1]. - The financing coordination mechanism established last year has significantly improved the financing situation for small enterprises, with nearly 98 million small business visits conducted and loans amounting to 22 trillion yuan disbursed by the end of July [1]. Group 2 - The article discusses the challenges faced by small and micro enterprises in obtaining loans, including information asymmetry between banks and enterprises, high communication and due diligence costs, and varying risk tolerance among businesses [1][2]. - Digital technology is highlighted as a crucial tool for bridging the information gap, enabling better communication and interaction between banks and enterprises, thus enhancing service efficiency [2]. - The article also mentions specific cases where financing coordination mechanisms have successfully assisted businesses in overcoming obstacles, such as credit repair and implementing no-repayment renewal policies to alleviate financial burdens [3]. Group 3 - The article stresses the need for effective implementation of supportive policies, emphasizing the importance of collaboration between central and local authorities, leveraging data, and uniting efforts across various sectors to enhance the reach and impact of financial support for small enterprises [3].

Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core View of the Report - The stock index futures are expected to experience wide - range fluctuations after the release of new policy signals [1]. 3. Summary by Relevant Content 3.1 Stock Index Futures Data Tracking - On September 22, all the current - month contracts of the four major stock index futures rose. IF rose 0.25%, IH rose 0.18%, IC rose 0.36%, and IM rose 0.47% [1]. - On the trading day, the total trading volume of stock index futures decreased, indicating a cooling of investors' trading enthusiasm. Specifically, the total trading volume of IF decreased by 52,955 lots, IH by 16,499 lots, IC by 72,929 lots, and IM by 105,450 lots. In terms of positions, the total position of IF decreased by 745 lots, IH increased by 3,869 lots, IC decreased by 7,430 lots, and IM decreased by 10,197 lots [1][2]. - The base differences and trading data of different contracts of IF, IH, IC, and IM are presented in detail in the table, including closing prices, price changes, base differences, trading volumes, and position changes [1]. 3.2 Top 20 Member Position Changes - The changes in long and short positions of the top 20 members of different contracts of IF, IH, IC, and IM are provided, with some data not disclosed [5]. 3.3 Trend Intensity - The trend intensity of IF and IH is 1, and that of IC and IM is also 1. The trend intensity ranges from - 2 to 2, with - 2 being the most bearish and 2 being the most bullish [6]. 3.4 Important Drivers - Central Bank Governor Pan Gongsheng introduced that during the "14th Five - Year Plan" period, China's financial industry achieved new major achievements. By the end of June this year, China's banking industry's total assets were nearly 470 trillion yuan, ranking first in the world; the scale of the stock and bond markets ranked second in the world; and the foreign exchange reserve scale ranked first in the world for 20 consecutive years. China is also at the forefront in green finance, inclusive finance, and digital finance. The RMB cross - border payment and settlement network is basically established, and mobile payment is internationally leading. In addition, the number of financing platforms decreased by 60% compared with March 2023, and the financial debt scale decreased by more than 50%. At the end of July, overseas institutions and individuals held 10 trillion yuan of domestic stocks, bonds, and deposits and loans. The issuance scale of panda bonds by overseas institutions exceeded 1 trillion yuan. In terms of financial support for real - estate risk resolution, policies such as the down - payment ratio and mortgage interest rates were optimized, and the stock mortgage interest rates were reduced, saving over 300 billion yuan in interest expenses for over 50 million households annually [6][7]. - Financial Regulatory Administration Director Li Yunze stated that since the "14th Five - Year Plan", the financial operation has been generally stable, with major regulatory indicators such as non - performing loans, capital adequacy, and solvency improving steadily and being in a healthy range. Over the past five years, the disposal of non - performing assets increased by more than 40% compared with the "13th Five - Year Plan" period. The total scale of capital and provisions for the industry to resist risks exceeded 50 trillion yuan. Currently, the total assets of the banking and insurance industries exceed 500 trillion yuan, with an average growth of nearly 9% in five years. The number and scale of high - risk institutions and assets have dropped significantly from their peaks, and the risks are fully controllable. During the "14th Five - Year Plan" period, the Financial Regulatory Administration cracked down on financial irregularities, punished illegal shareholders, and guided financial resources to the real economy [8]. - CSRC Chairman Wu Qing said that during the "14th Five - Year Plan" period, the CSRC issued 2,214 administrative penalties for cases such as financial fraud, market manipulation, and insider trading, with fines and confiscations totaling 41.4 billion yuan, an increase of 58% and 30% respectively compared with the "13th Five - Year Plan" period. The A - share market's resilience and risk - resistance ability have been significantly enhanced, with the annualized volatility of the Shanghai Composite Index at 15.9%, a decrease of 2.8 percentage points compared with the "13th Five - Year Plan" period. In August this year, the total market value of the A - share market exceeded 100 trillion yuan for the first time. Listed companies' awareness of rewarding investors has increased significantly, with a total of 10.6 trillion yuan distributed through dividends and share buybacks in the past five years, an increase of more than 80% compared with the "13th Five - Year Plan" period. During the "14th Five - Year Plan" period, 13 foreign - controlled securities, fund, and futures institutions were newly approved to operate in China. Foreign investors held 3.4 trillion yuan of A - share market value, and 269 enterprises were listed overseas. The default rate of exchange - traded bonds has been maintained at a low level of about 1% [9].

江南时报讯 为深入贯彻落实中央金融工作会议关于做好金融"五篇大文章"工作要求，积极响应中信银行"进万企-信服惠企"活动号召，9月22日下午，在百余 家江苏企业代表的共同见证下，中信银行"小天元"企业生态服务平台江苏区域发布会暨"进万企 信服惠企"系列活动在南京成功举办，现场嘉宾共同探讨了 企业数字化转型的未来路径，携手开启企业财资管理新篇章。 此次发布的中信银行小天元平台融合了数字服务的便捷性和金融服务的创新性，可以实现企业人事薪税、财务记账、供应链管理全场景覆盖，各个功能模块 全流程数据贯通。作为中信银行落实国家数字金融、科技金融战略的核心载体，小天元平台不同于传统软件厂商系统或其他金融产品，平台以"免费标准版 +生态整合"的模式，降低企业数字化转型门槛，节省各类系统软件采购和运维开支，整合内外部生态资源，消除数据孤岛，提升企业管人、管账、管钱、 管事的综合运营和抗风险能力。 会议现场，部分企业代表分享了与中信银行并肩前行、共谋发展的合作历程以及互利共赢的丰硕成果。会上，安永财税领域专家重点介绍了金税四期下企业 及家族税务风险的管理与规划，为企业规避风险、抓住机遇提供专业支持。 本次小天元平台江苏区域发布会 ...

Group 1: Achievements in Financial Development - As of June 2023, China's banking sector total assets reached nearly 470 trillion yuan, ranking first in the world; stock and bond market sizes are second globally; foreign exchange reserves have been the largest for 20 consecutive years [2] - The average annual growth rate of micro and green loans exceeds 20% [5] - Over the past five years, the banking and insurance sectors provided an additional 170 trillion yuan in funding to the real economy [10] Group 2: Financial System Reform and Regulation - The establishment of the Central Financial Committee and the Central Financial Work Committee has strengthened the centralized leadership of the Party over financial work [3] - The financial regulatory framework has been significantly enhanced, with 22,000 institutions penalized and 210 billion yuan in fines imposed [11] - The financial sector has seen a structural reform on the supply side, with a focus on developing a multi-level financial market and optimizing financial structure [5] Group 3: Capital Market Development - The capital market has established a robust legal framework, with the implementation of laws such as the Futures and Derivatives Law and regulations for private equity funds [13][14] - The A-share market's total market value surpassed 100 trillion yuan for the first time in August 2023 [15] - Over the past five years, the direct financing ratio has steadily increased, with more than 90% of newly listed companies being technology-oriented [17] Group 4: Foreign Exchange Management - The international balance of payments has remained stable, with the current account surplus to GDP ratio maintained within a reasonable range [21] - The foreign exchange service environment has been optimized, with significant improvements in the convenience of foreign exchange services [22] - Foreign exchange reserves have consistently remained above 3 trillion USD, serving as a stabilizing force for the economy [25]

Group 1 - The report highlights significant achievements in the financial industry during the "14th Five-Year Plan" period, emphasizing both scale and quality improvements in financial services [1][9][10] - By June 2025, China's banking sector total assets reached nearly 470 trillion yuan, ranking first globally, while the stock and bond markets ranked second [11][10] - The report indicates that the direct financing ratio increased to 31.6%, up by 2.8 percentage points from the end of the "13th Five-Year Plan" [11][16] Group 2 - The report suggests five key investment areas based on the achievements of the "14th Five-Year Plan" and trends for the "15th Five-Year Plan": financial technology, capital market services, green finance, technology finance, and cross-border finance [2][25][26] - Financial technology is highlighted as a leading area, with mobile payments at an international forefront and steady progress in digital currency development [2][25] - Green loans grew at an average annual rate exceeding 20% during the "14th Five-Year Plan," with expectations for continued rapid growth in the "15th Five-Year Plan" [2][26] Group 3 - The report emphasizes the significant enhancement of financial services to the real economy, with loans to high-tech enterprises reaching nearly 19 trillion yuan, growing at an annual rate exceeding 20% [14][15] - The capital market's role in supporting technological innovation has accelerated, with over 90% of newly listed companies being technology-related [15][16] - The financial risk prevention and regulatory system has evolved, with a notable reduction in high-risk institutions and assets, ensuring that risks remain controllable [16][19] Group 4 - The report outlines a new pattern of institutional opening in the financial sector, with the removal of foreign ownership limits and an increase in foreign investment in A-shares [20][21] - By July 2025, foreign institutions and individuals held over 10 trillion yuan in domestic stocks and bonds, indicating a growing international presence in China's financial markets [20][21] - The report also notes the deepening of foreign exchange management reforms, facilitating cross-border investment and financing needs [21][24]