格隆汇2月10日｜中国人民银行发布2025年第四季度中国货币政策执行报告。其中提出，下一步，中国 人民银行将全力做好绿色金融大文章，持续健全政策和标准体系，以绿色金融高质量发展支持经济社会 发展全面绿色转型。有序推进金融机构碳核算和可持续信息披露。研究制定金融机构碳核算国家标准和 高碳行业碳核算操作指引，推动金融机构提升碳核算能力，逐步将碳排放纳入资产组合考量，实现金融 资产碳排放可度量。对标国际准则、结合国内实际，推动金融机构稳步开展可持续信息披露，提高市场 透明度。 登录新浪财经APP 搜索【信披】查看更多考评等级 ...

格隆汇2月10日｜中国人民银行发布2025年第四季度中国货币政策执行报告。其中提出，下一步，中国 人民银行将健全绿色金融产品和市场体系。研究优化碳减排支持工具，将更多具有减碳效益的领域纳入 支持范围；规范推动碳排放权、用水权等环境权益质押融资业务，助力盘活资源环境要素价值；支持金 融机构有序参与全国碳市场建设，稳妥推进碳金融产品和衍生工具创新。 ...

中国人民 银行发布2025年第四季度中国货币政策执行报告。其中提出，下一步，中国人民银行将全力 做好绿色金融大文章，持续健全政策和标准体系，以绿色金融高质量发展支持经济社会发展全面绿色转 型。有序推进金融机构碳核算和可持续信息披露。研究制定金融机构碳核算国家标准和高碳行业碳核算 操作指引，推动金融机构提升碳核算能力，逐步将碳排放纳入资产组合考量，实现金融资产碳排放可度 量。对标国际准则、结合国内实际，推动金融机构稳步开展可持续信息披露，提高市场透明度。 ...

Core Viewpoint - The article emphasizes the importance of green finance in supporting the ecological protection and high-quality development of the Yellow River Basin in Tai'an, Shandong Province, highlighting existing challenges and proposing solutions to enhance green financial services [1][2][3] Group 1: Current Challenges in Green Finance - The ecological value transformation mechanism is not well-established, and local accounting standards are lacking [1] - Financial services are uneven, and service models need optimization [1] - Digital infrastructure is lagging, leading to low efficiency in screening and accounting [1] - Insufficient policy coordination, with the need to release synergistic effects [1] Group 2: Proposed Solutions - Improve the ecological value realization system by developing local ecological accounting standards and creating a market platform for ecological assets [1] - Expand green finance service areas with targeted support plans, introducing specialized products for cultural tourism and ecological agriculture [2] - Build a digital green finance platform to break down information sharing barriers and enhance project identification and financing needs matching [2] Group 3: Policy Coordination and Support - Strengthen policy coordination through a green finance coordination mechanism involving multiple local government departments [3] - Provide up to 45% interest subsidies for projects in the provincial "Beautiful Shandong Construction Financial Project Library" [3] - Integrate existing ecological protection funds to support local advantageous fields such as salt cavern energy storage and tourism [3]

Core Viewpoint - Hong Kong remains a leading global financial center, regaining its position as the top IPO market in 2025 despite competition from emerging financial hubs like Singapore and Dubai [3][7]. Group 1: Hong Kong's Financial Position - Hong Kong's IPO financing in 2025 returned to the top globally, showcasing its resilience as an international financial center [3]. - The city serves as a crucial platform for mainland Chinese companies to access international markets, acting as a "super connector" and "super value creator" [3][7]. - Hong Kong's financial system is well-developed, offering various financing options including private equity, venture capital, and bank loans tailored to different stages of business development [6]. Group 2: Competitive Landscape - Despite the rise of Singapore's financial capabilities, Hong Kong's total market capitalization remains 6-7 times larger than that of the Singapore Exchange [7]. - Companies from Southeast Asia, as well as regions like Kazakhstan and the UAE, are increasingly choosing to list on the Hong Kong Stock Exchange due to its liquidity, which ranks fifth globally [7][8]. - The IPO market in Hong Kong has seen a significant recovery since 2025, with emerging industries such as AI, new energy vehicles, and biomedicine leading the way [8]. Group 3: Global Financial Hub Status - Hong Kong is recognized as the largest offshore RMB business hub, the second-largest cross-border wealth management center, the third-largest exchange-traded products market, and the fourth-largest foreign exchange market globally [9].

Group 1 - Hong Kong Stock Exchange (HKEX) regained its position as the world's leading IPO market in 2025, despite challenges from emerging financial centers like Singapore and Dubai [1] - HKEX serves as a crucial platform for mainland Chinese companies to access international markets, acting as a "super connector" and "super value creator" [1][5] - The Asian Financial Forum highlighted Hong Kong's status as an internationally recognized financial center, emphasizing its resilience against competition [1] Group 2 - French startup Libertify established its office in Hong Kong, leveraging AI technology to summarize complex financial reports into short videos, benefiting from the city's strong financial sector [3] - The founder of Libertify chose Hong Kong for its international connectivity and rapid feedback from financial professionals, which is essential for product improvement [3] - Hong Kong's financial ecosystem offers diverse financing options, including private equity, venture capital, and lower-cost financing for green projects, supported by a concentration of professional resources [4] Group 3 - Hong Kong plays a dual role as a bridge between mainland China and global markets, facilitating the expansion of mainland companies into international territories [5] - The city provides professional services that contribute to mutual growth for businesses and the local economy, reinforcing its role as a "super connector" [5] - Despite increasing competition from Singapore, HKEX maintains a significant market capitalization advantage, being 6-7 times larger than the Singapore Exchange [6] Group 4 - HKEX has seen a resurgence in its IPO market since 2025, attracting leading companies from emerging sectors such as AI, new energy vehicles, and biomedicine [6] - The exchange ranks fifth globally in liquidity, which is a key factor for international companies choosing to list in Hong Kong [6] - Hong Kong is recognized as the largest offshore RMB business hub and the second-largest cross-border wealth management center globally [6]

本报讯 （记者方凌晨）记者从业内获悉，华宝信托以"水善流®"取水权行政管理服务信托（以下简称"'水信托'"）为支 点，近日完成长三角生态绿色一体化发展示范区（以下简称"示范区"）首单"取水权跨省市+'水信托'"交易，以金融"活水"推动 水资源集约节约利用和跨区域有序流动。 据悉，此次交易的受让方（中铁十局）与转让方（通过"水信托"整合的上海节水企业）分属不同省份，中铁十局下属项目 单位通过华宝信托第二期"水信托"，成功购买6万立方米取水权指标，用于示范区内水乡旅游线城际铁路（浙江段）施工，突 破了传统取水权交易的地域限制。 此次交易的核心载体是华宝信托第二期"水信托"。"水信托"作为全国首个"取水权行政管理服务信托"，于2025年4月份在上 海环交所落地，其创新之处在于将信托制度与水资源管理相结合，通过"指标集约、交易规范、结算安全、开票便捷"四大机 制，实现节水指标的规模化、标准化交易。 在业内人士看来，此次跨省市交易不仅是"水信托"模式的成功延伸，更为长三角生态绿色一体化发展提供了"水资源协同 治理"的样本。从宏观层面看，跨省市取水权交易实现了水资源在区域内的优化配置，推动了长三角基础设施互联互通。从微 ...

今天分享的是：中欧陆家嘴国际金融研究院：2025年全球资产管理中心评价指数报告 报告共计：76页 《2025全球资产管理中心评价指数报告》由中欧陆家嘴国际金融研究院发布，本次首次将"资管科技"纳入二级评价指标，从多维度解析 了全球资管行业的格局变化与发展趋势。2025年全球经济调整、地缘政治摩擦等背景下，全球资管中心竞争呈现"一超多强"特征，纽约 凭借资金、底层资产与资管科技的一体化优势稳居首位，巴黎依托ESG与另类资产优势跃居第二，伦敦则因人才和税收政策竞争力减弱 退居第三，北美波士顿、多伦多实现弯道超车，亚洲市场分化显著，上海升至第五且在资管科技等领域表现亮眼，孟买成为新兴市场黑 马，香港、新加坡排名有所回落。 在细分领域，资金来源持续向美国城市集中，亚洲在税收激励与人才供给上展现追赶势头，底层资产市场多数中心与纽约差距缩小，孟 买表现突出，而资管规模与开放式基金业务受资金"美股化"影响向美国进一步集聚，ESG与另类资产业务则呈现欧美各有优势、亚洲短 期波动的特点。本次报告的指标体系创新成为重要亮点，通过基础层、市场层、创新层与应用层构建资管科技全链条评价框架，纽约、 伦敦、上海等各资管中心依托自身禀赋在 ...

来源：中国金融家杂志 新春畅想 值此新春佳节，祝愿伟大祖国繁荣昌盛、国泰民安！祝愿金融同仁和各界朋友新年快乐、事业腾骧！ 责任编辑：王馨茹 华夏银行党委书记、 董事长杨书剑 刚刚过去的2025年，是"十四五"规划圆满收官之年，也是华夏银行发展历程中革故鼎新、筑基谋远的关 键一程。华夏银行新一届党委班子以"走出舒适区，踏上新征程"的共识凝聚动力，以贯穿业务发展、风 险防控、经营管理的"十大行动"推动全行系统性重塑，廓开新局。这一年，我们以"讲政治"指引方向， 以"创价值"驱动发展，以"担责任"回馈社会，在服务国家战略、赋能实体经济、满足人民需求的实践 中，淬炼出逆境中愈发坚韧、变革中主动求新的发展底色，经营发展迈上新台阶。 2026年是"十五五"规划全新开局之年。习近平主席在新年贺词中指出，"锐始者必图其终，成功者先计 于始"，华夏银行将以此为鞭策，以崭新的风貌、昂扬的姿态，全面融入金融强国建设的时代洪流： 我们将矢志不渝，做服务大局的坚定践行者。坚持以习近平新时代中国特色社会主义思想为指导，全面 贯彻党的二十大和二十届历次全会精神，认真落实中央经济工作会议精神。将更多金融资源配置到科技 创新的前沿、绿色发展的 ...

Investment Rating - The report maintains an "Accumulate" rating for the industry, indicating a forecasted increase of over 10% relative to the benchmark index in the next 6 to 12 months [27]. Core Insights - The overall market performance of the Beijing Stock Exchange (BSE) shows a decline, with the BSE 50 index dropping by 3.59% to close at 1531.55 points as of January 30, 2026. In comparison, the Shanghai and Shenzhen indices showed minor fluctuations [4][10]. - The average market capitalization of the 292 constituent stocks on the BSE is 3.207 billion yuan, with a total industry market value of 936.302 billion yuan and a circulating market value of 580.261 billion yuan [4][10]. - The report highlights the top-performing sectors for the week, including Oil and Petrochemicals (33.99%), Media (4.97%), Agriculture, Forestry, Animal Husbandry, and Fishery (4.69%), Transportation (2.28%), and Communications (2%) [4][17]. Summary by Sections BSE Market Overview - As of January 30, 2026, the BSE has 292 constituent stocks, with an average market capitalization of 3.207 billion yuan. The BSE 50 index experienced a decline of 3.59% during the week, while the Shanghai Composite Index and other indices showed minimal changes [4][10]. - The average daily trading volume for the BSE was 28.731 billion yuan, reflecting a 7.20% increase from the previous week, with a turnover rate of 5.88% [15]. New Stocks on BSE - One new stock, Meidele (920119.BJ), was issued during the week. Additionally, several companies are at various stages of the IPO process, including Huadian Guangda, which has been accepted for review [5][22]. Key News from BSE - The BSE released a revised guideline for sustainable development reporting on January 30, 2026, aimed at enhancing the quality of information disclosure among listed companies. This includes new application guidelines focusing on pollutant emissions, energy use, and water resource utilization [6][24]. - The first IPO of the year was accepted for Beijing Huadian Guangda Environmental Co., which specializes in new catalytic materials for air pollution control, aiming to raise approximately 260 million yuan [6][24]. Investment Strategy - The report suggests focusing on sectors expected to perform well in 2026, including Data Centers, Robotics, Semiconductors, Consumer Goods, and Military Information Technology. Specific companies highlighted include KLT, Suzhou Axis, and Hualing Co. [25].