中小银行的经营特色是区域环境与经营战略共振的结果。要有效辨别中小银行中的幸存者、优异者， 核心关注区域客群以及反映自身战略的资产负债摆布。 | 法化雜度 | 细分项 | 观测指标 | | --- | --- | --- | | | 地方税收贡献度 | 过去5年平均"一般公共预算收入/GDP" | | | 财政自给率 | 一般公共预算收入/一般公共预算支出 | | | 土地财政依赖度 | 过去5年平均"政府性基金收入/GDP" | | | 区域债务压力 | (地方政府债务余额+城投平台有息债务余额) / (一般政府公开预算 | | 区域 | | 收入+政府性基金预算收入) | | | 不良周力 | 各省商业银行不良贷款率 | | | 产业结构 | 规模以上高技术产业增加值/GDP,房地产业增加值/GDP | | | 对中小金融机构风险重视 | 是否发布重组兼并的明确规划或公布专项债补充计划 | | | 程度(定性) | | | | 资产结构 | 总资产中贷款占比(脱实向虚风险) | | | 投放结构 | 对公房地产贷款、融资平台贷款、消费贷等占比 | | | 投放区域 | 异地贷款规模/总贷款 | | 资产端 ...

Core Viewpoint - The market experienced a slight increase with the three major indices showing small gains, while trading volume reached a new high since March 15, indicating increased investor activity [1][2]. Market Performance - The Shanghai Composite Index rose by 0.01%, the Shenzhen Component Index increased by 0.61%, and the ChiNext Index gained 0.8% [2]. - The total trading volume in the Shanghai and Shenzhen markets was 1.71 trillion, an increase of 218 billion compared to the previous trading day [1]. Sector Performance - The rare earth permanent magnet sector saw a collective surge, with over 10 stocks, including Northern Rare Earth, hitting the daily limit [1]. - Brokerage and internet finance stocks also experienced a significant rise, with the stock of Zhina Compass reaching an all-time high [1]. - The CRO (Contract Research Organization) sector was active, highlighted by WuXi AppTec's stock hitting the daily limit [1]. - In contrast, bank stocks faced a decline in the afternoon session, with over 20 stocks dropping more than 2% [1]. Overall Market Sentiment - The market displayed a mixed sentiment with more than 2900 stocks rising, indicating a generally positive outlook despite some sector-specific declines [1].

Core Viewpoint - The market experienced a slight increase with the Shanghai Composite Index rising by 0.01%, while the Shenzhen Component and ChiNext Index increased by 0.61% and 0.8% respectively, amidst a trading volume of 1.71 trillion yuan, marking the highest level in nearly four months [1] Market Performance - The total trading volume in the Shanghai and Shenzhen markets reached 1.71 trillion yuan, an increase of 218 billion yuan compared to the previous trading day, and the highest since March 15 [1] - Over 2,900 stocks in the market saw gains, indicating a broad-based rally despite the mixed performance of individual stocks [1] Sector Highlights - The rare earth permanent magnet sector saw a collective surge, with over 10 stocks, including Northern Rare Earth, hitting the daily limit [1] - Brokerage and internet finance stocks experienced a significant rise, with the stock of Zhina Compass reaching an all-time high [1] - The Contract Research Organization (CRO) sector was notably active, with WuXi AppTec hitting the daily limit [1] Declining Sectors - Banking stocks faced a downturn in the afternoon session, with over 20 stocks declining by more than 2% [1] - Sectors that underperformed included banking, PCB, gaming, and paper manufacturing, while rare earth permanent magnets, securities, internet finance, and non-ferrous metals led the gains [1]

金融期权 2025/07/11 金融期权策略早报 | 卢品先 | 投研经理 | 从业资格号：F3047321 | 交易咨询号：Z0015541 | 邮箱：lupx@wkqh.cn | | --- | --- | --- | --- | --- | | 黄柯涵 | 期权研究员 | 从业资格号：F03138607 | 电话：0755-23375252 | 邮箱：huangkh@wkqh.cn | 金融期权策略早报概要： （1）股市短评：上证综指数、大盘蓝筹股、中小盘股和创业板股表现为高位震荡偏多上行的市场行情。 （2）金融期权波动性分析：金融期权隐含波动率均值较低水平水平波动。 （3）金融期权策略与建议：对于ETF期权来说，适合构建备兑策略和偏中性的双卖策略，垂直价差组合策略；对于 股指期权来说，适合构建偏中性的双卖策略和期权合成期货多头或空头与期货空头或多头做套利策略。 表1：金融市场重要指数概况 | 重要指数 | 指数代码 | 收盘价 | 涨跌 | 涨跌幅 | 成交额 | 额变化 | PE | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | ...

记者了解到，大家的家·天津泰安道城心社区在2024年7月落成，在城里满一年之际，已经迎来了过百位长者的入住，他们的生活起居、休闲娱乐都在这里欣 然展开，让这座承载着丰富的历史文化底蕴的花园大楼焕发新生。 作为医养结合旗舰店，大家保险集团通过搭载微医互联网平台、链接区内顶级医疗资源，成为和平区内的医养结合标杆项目。社区除了持续提升养老服务水 平，还着力发挥大家保险养老金融产品研发、拓客、服务的核心枢纽职能，通过与属地寿险、产险公司建立客户互推、定制沙龙、金融基地等创新联动方 式，更先后推出旅居、非遗、健康管理等保险客户欢迎的服务产品，受到银行、保险公司、中介、信托等各类型金融机构的高度认可。 在大家的家·天津泰安道城心社区落地一周年之际，天津市和平区副区长张健在"金融助老提升行动启动仪式"上指出，大家的家·天津泰安道城心社区不仅为 和平区的老年人打造了"第二个家"，更以实际行动践行天津市和平区"金融助老提升行动"，为全区养老服务的提升贡献力量；其发展历程，是和平区养老事 业蓬勃发展的生动缩影，更是社会力量参与养老服务的成功实践。 【环球网财经记者 田刚】随着我国老龄化进程不断加快，养老需求正从基础的"生存保障" ...

中经记者 慈玉鹏 北京报道 多家农商行近期推出"养老贷"产品，帮助居民解决养老保险缴费难题，提高其养老收入。 某农商行人士告诉记者："'养老贷'产品主要由当地政府和银行联合推出，主要为提升城乡居民的养老 收入。办理贷款需要到当地人社部门先确认资质，然后再到银行办理贷款。政府给予一定贴息，目前该 行办理的人数相对有限，并不是很多。" 据了解，"养老贷"是为符合条件的城乡居民养老保险参保人推出的一项惠民贷款。 该项产品主要用于解决客户中断缴费、一次性补缴或提档缴纳城乡居民养老保险但资金不足的问题。本 质上就是银行借钱给客户一次性补缴够15年高档次的养老保险费，让客户退休后能领到更多养老金。 举例来说，如果借款人每年按300元档次缴费，15年共需缴费4500元。缴纳后，借款人每月发放养老金 约198元；如果借款人通过"养老贷"产品，补缴8.55万元，总缴纳额达到9万元，每月则能够发放养老金 813元，相当于每月养老金增加615元。 银行还款将从每月发放养老金中扣除，但扣除后借款人到手的养老金额度仍高于补缴前。 贷款条件上，该项产品一般要求具有本地户籍，年龄符合补缴条件，申请贷款时年龄不超过65周岁；身 体健康，具有 ...

中经记者 石健 北京报道 从首艘7500车位液化天然气（LNG）双燃料汽车运输船首航，到天津港第1000艘租赁船舶签约落地， 再到6家金租公司打造价值12亿美元的"联合体"船舶租赁签约……近年来，经略海洋、转身向海成为金 租行业转型的一大特色。 前不久，中央财经委员会第六次会议提出，要推动海运业高质量发展。《中国经营报》记者采访了解 到，近年来，船舶金租在拓展跨境金融租赁、航运融资等方面取得了积极成果。在多位金租业内人士看 来，海洋产业与金融租赁的"融资+融物"属性天然匹配，未来船舶金租行业大有可为。 多元服务海洋经济 今年"七一"前夕，中信金融租赁有限公司（以下简称"中信金租"）与中远海运散货运输有限公司、福建 省船舶工业集团有限公司及下属公司联合在福州举办党建活动。值得注意的是，党建活动的背后，是一 笔涉及8万吨级多用粮食船建造合同和租赁合同的签约。 中信金租相关负责人对记者表示，此次三方合作订造的8万吨级多用途粮食船，通过优化船型设计大幅 提升货舱适货性，实现一船多用。"除满足粮食装载要求外，还适合装运集装箱、工程设备等多种货 物，进一步提升船舶业务高质量发展。" 船舶行业尤其具有重资产、长周期的特点， ...

沪深两市成交额突破1.5万亿，较上个交易日同期放量约2000亿；上证指数现涨0.55%，券商、稀土永 磁、船舶制造、软件开发、多元金融、CRO等概念涨幅居前，银行、PCB、游戏、电源设备、城市更新 等概念走弱；全市约3400股上涨，1800股下跌，主力资金净流出约70亿元。 ...

月17日发布;中国互联网30指数于2015年3月23日发布;恒生消费指数于2015年8月17日发布;国新 （文章来源：每日经济新闻） 当前港股非银金融板块投资价值凸显。东吴证券指出，保险行业负债端稳中有进，寿险新业务价值 （NBV）持续增长，资产端随着长端利率企稳，利差损压力逐步缓解。招商证券认为，资本市场活跃 度提升直接利好券商及交易所业务，香港交易所作为稀缺标的，受益于中概股回归及跨境资本流动。此 外，政策端持续发力，中长期资金入市预期增强，进一步夯实板块配置逻辑。 除港股通非银ETF外，广发基金旗下还有多只ETF近一年表现亮眼。截至7月10日，广发中证香港创新 药ETF（513120）近一年回报达103.07%，规模超130亿元；广发中证2000ETF（560220）近一年回报 59.67%，聚焦中小盘高成长标的；广发上证科创板100增强ETF（588680）近一年回报54.23%，布局硬 科技赛道。 | 港股特色主题指数近一年表现跟踪 | | | | | --- | --- | --- | --- | | 港股创新药ETF | 跟踪港股创新药(CNY)指数 | | 513120 | | | 近一年该指 ...

Core Viewpoint - The development of finance is deeply supported and nourished by culture, particularly in Shandong, which has a rich cultural heritage and has made significant progress in financial development, with key financial indicators growing at a rate approximately 2 percentage points higher than the national average [1][2]. Group 1: Financial Development in Shandong - Shandong is a major province in terms of population, economy, and culture, being a significant birthplace of Chinese civilization and Confucian culture [1]. - Recent financial developments in Shandong have shown substantial progress, with new corporate loan interest rates dropping to around 3.7%, the lowest in history, and non-performing loan rates decreasing to 1.2% [1]. - The growth rates of loans in sectors such as science and technology, green finance, and rural revitalization have consistently outpaced the overall loan growth rate [1]. Group 2: Cultural Influence on Financial Practices - The integration of traditional Chinese culture and red financial culture is emphasized to enhance the quality and efficiency of financial development in Shandong [2]. - Five key concepts are proposed to guide financial practices: 1. Establishing a correct moral view to promote integrity and contract spirit while adhering to market economy rules [2]. 2. Upholding a proper view of interests and responsibilities, focusing on both profit and service to the public [2]. 3. Maintaining a risk prevention perspective as a core theme of financial work, improving governance and regulatory systems [2]. 4. Fostering innovation in customized financial products, particularly in green and high-quality development sectors [2]. 5. Ensuring compliance with laws and regulations as a foundation for sustainable business practices [2].