【导读】香港立法会通过《稳定币条例草案》，预计年内生效，渣打等机构正在积极筹备与港元挂钩的 稳定币发行 5月21日，香港立法会通过了《稳定币条例草案》（以下简称《草案》），以在香港设立法币稳定币发 行人的发牌制度，完善对虚拟资产活动在香港的监管框架，以保持金融稳定，同时推动金融创新。 据中国基金报记者了解，目前香港特区政府相关部门及金融监管机构，正积极协助业界做好过渡期安 排，以及稳定币发行的相关筹备工作。 发行人须向金融管理专员 申领牌照 香港特区政府发布声明对此表示欢迎，并指出《稳定币条例》实施后，任何人如在业务过程中在香港发 行法币稳定币，或在香港或以外发行宣称锚定港元价值的法币稳定币，必须向金融管理专员申领牌照。 相关人士须符合储备资产管理及赎回等方面的规定，包括妥善分隔客户资产、维持健全的稳定机制，以 及须在合理条件下按面额处理稳定币持有人的赎回要求。相关人士亦须符合一系列打击洗钱及恐怖分子 资金筹集、风险管理、披露规定及审计和适当人选等要求。金融管理专员会适时就制度的详细监管要求 作进一步咨询。 香港特区政府表示，发牌制度将为公众及投资者提供更好保障。其中，条例只容许指定的持牌机构在香 港销售法币 ...

Core Insights - The "Financial Empowerment and Channel Linkage" conference in Chongqing highlighted significant progress in building the Western Financial Center, as detailed in the "White Paper on the Development of the Western Financial Center (Chongqing) 2025" [1][4] - The White Paper showcases over 50 landmark achievements in various financial sectors, emphasizing Chongqing's role in the "智融惠畅" initiative and its contribution to modernizing the city [1][3] Financial Institutions - Chongqing's financial industry assets reached 8.9 trillion yuan, with loans surpassing 6 trillion yuan, indicating a robust and diverse financial ecosystem [1][2] - The city is establishing a modern financial system characterized by a collaborative and efficient structure, with a concentration of national financial institution headquarters [1][2] Market Development - The "千里马" initiative has enhanced capital market functions, with Chongqing leading in stock and bond financing within the western region [2] - Innovative financial products, such as the first "silver industry" insurance investment fund and the first "Belt and Road" green corporate bond, have been launched, positioning Chongqing as a capital hub [2] Service to the Real Economy - A total of 1.2 trillion yuan in credit has been allocated to support major projects in the Chengdu-Chongqing area, with 6 trillion yuan in financing for the Western Land-Sea New Corridor [2] - There has been a continuous increase in loans for manufacturing, technology enterprises, and small micro-enterprises, demonstrating targeted financial support for the real economy [2] Innovation and Digital Finance - The "渝金通" financial brain and "渝金盾" risk brain represent new paradigms in digital finance, with blockchain cross-border financial innovations recognized as national exemplary cases [2][3] - Chongqing is leading in green finance reforms and has initiated new financial pilot programs for agricultural transformation [2][3] Open Financial Landscape - The city is enhancing its role as an inland financial hub through upgraded financial cooperation with China-Singapore and the expansion of the Land-Sea New Corridor financial alliance [2][3] - Financial support for initiatives like "渝车出海" is being strengthened, reflecting Chongqing's transition from an inland area to an open logistics center [2][3] Financial Ecosystem Optimization - Continuous efforts have been made to eliminate high-risk financial institutions, maintaining a leading position in national anti-illegal financial work for eight consecutive years [2][3] - The introduction of the first consumer protection guidelines for the micro-lending industry and ongoing improvements in the business environment are key focuses [2][3] Infrastructure Development - The digital yuan pilot program is advancing, and financial integration between Chengdu and Chongqing is accelerating, with data-sharing platforms being implemented [3] - The establishment of a solid digital infrastructure is crucial for the financial ecosystem's growth and efficiency [3] Future Initiatives - The Chongqing Municipal Financial Office has proposed three initiatives to enhance financial cooperation and development, including strengthening central-local collaboration, deepening regional cooperation, and optimizing the financial ecosystem [4] - The aim is to create new opportunities for financial empowerment and development, focusing on green finance, technology finance, and digital finance [4]

Group 1: Issuance Overview - The company plans to issue A-shares to specific investors, with a total fundraising target of up to RMB 120 billion, which will be used to supplement its core Tier 1 capital [2][3] - The issuance has been approved by the company's board and relevant regulatory bodies, including the China Securities Regulatory Commission (CSRC) [2][3] - The issuance price is set at RMB 8.51 per share, adjusted from an initial price of RMB 8.71 due to dividend distributions [4][5] Group 2: Subscription Details - The specific investors include the Ministry of Finance, China Tobacco, and Shuangwei Investment, with subscription amounts of RMB 1,124.20 billion, RMB 45.80 billion, and RMB 30 million respectively [3] - The shares subscribed by these entities will be subject to a five-year lock-up period, with the Ministry of Finance committing not to transfer its shares for 18 months post-issuance [6] Group 3: Shareholder Structure - Post-issuance, the Ministry of Finance will hold over 30% of the shares, making it the controlling shareholder of the company [6] - The company has outlined its profit distribution policy and plans for shareholder returns over the next three years [6] Group 4: Regulatory Compliance - The issuance complies with regulations set forth by the CSRC and other relevant authorities, ensuring that the transaction adheres to legal and procedural requirements [2][3] - The company has established measures to address potential dilution of immediate returns due to the increase in share capital from this issuance [6]

Core Viewpoint - The collaboration between China Merchants Bank and China UnionPay enhances the payment experience through the integration of the UnionPay QuickPass network payment platform, providing a comprehensive and convenient financial service ecosystem for users [1] Group 1: Payment Experience Upgrade - China Merchants Bank's mobile banking app now integrates with the China UnionPay QuickPass network payment platform, allowing users to access services at over 30 million merchants [1] - The partnership aims to create a unified payment experience on the bank's side, offering features such as QR code payments and card management [1] Group 2: Ecosystem Development - The collaboration focuses on three key areas: systematic mechanisms, professional capabilities, and ecological scenarios, to foster a new environment for fintech [1] - This partnership represents a deepening of the "digital finance" cooperation between China Merchants Bank and China UnionPay [1] Group 3: Future Plans - China Merchants Bank plans to continue its close cooperation with China UnionPay to provide more convenient payment services and a variety of promotional activities for users [1] - Upcoming initiatives include a series of consumption discounts to enhance user engagement and satisfaction [1]

Core Viewpoint - The financial industry is undergoing a profound transformation driven by digitalization, with public fund companies like Debang Fund leveraging technology to enhance business models, service methods, and risk control systems [1] Group 1: Strategic Foundation - Debang Fund has established a "3+1" digital transformation strategy focusing on "intelligent investment research, refined marketing, automated operations, and comprehensive risk control" [2] - The company has upgraded its IT infrastructure to a hyper-converged private cloud architecture, improving system stability, performance, and scalability [2] - A data platform has been created to centralize storage, efficient management, and deep analysis of data, positioning data as a core asset for business development [2] Group 2: Business Empowerment - The "Haina Baichuan" model aggregation platform enhances the digital autonomy of the investment research system, allowing for efficient analysis of market trends and investment valuation [3] - An integrated operational platform has been developed to automate processes, significantly reducing operational risks and improving team efficiency through RPA technology [3] - A refined "CRM + AI" marketing platform has been established to enhance customer service by creating detailed customer profiles and improving marketing material effectiveness [4] Group 3: Safety Assurance - Debang Fund emphasizes the importance of a comprehensive security system to address emerging risks in the digital economy, including data and network security [5] - The company has implemented a multi-layered proactive defense system, including regular employee training and a robust personal information protection framework [6] - Continuous monitoring and emergency response plans are in place to swiftly address potential security incidents [6] Group 4: Future Outlook - Debang Fund aims to seize opportunities in digital finance by integrating advanced technologies like AI, big data, and cloud computing into its operations [6] - The company is committed to enhancing service efficiency and customer experience through ongoing investment in core technologies [6]

Core Insights - The People's Bank of China Shandong Branch is focusing on the application of digital technology in rural finance to stimulate new development vitality in agriculture and rural areas through effective supply of digital finance [1] Group 1: Strategic Planning for Rural Digital Inclusive Finance - The initiative aims to enhance the supply of rural digital inclusive finance by utilizing digital technologies such as blockchain and artificial intelligence to optimize credit decision-making processes [2] - Financial resources are being directed towards key areas such as rural digital industries, governance, culture, and smart beautiful villages to improve the sustainability of rural digital finance [2] Group 2: Empowering Rural Financial Services with Digital Technology - The implementation of financial technology in rural revitalization is being promoted, with financial institutions encouraged to customize financing solutions based on agricultural production cycles and characteristics [3] - New financial products and service models, such as "Xingniu Cloud Loan" and "New Agricultural Data Loan," are emerging to support agricultural efficiency and farmers' income [3] Group 3: Enhancing Operational Efficiency and Service Quality - The construction of information service platforms is being strengthened to provide precise profiling of agricultural entities, with a focus on building a financing data service platform that covers nearly 20 million entities [4] - The "Rongyitong" platform in Linyi City is being developed as a model for rural credit system construction, integrating various services to enhance convenience for farmers [4] Group 4: Regional Practices for Innovative Rural Digital Inclusive Finance - A digital platform named "Nongnong e-chain" is being established in Zaozhuang City to address challenges in rural property rights, enabling standardized and digital representation of rural assets [5] - The "Rural Property Digital Asset Locking Certificate + Rural Land Operating Income Pledge" financial service model is being created to ensure priority repayment rights for financial institutions [5] - As of now, 894 households and village collectives have been confirmed in the chain, with loans totaling 5.55 million yuan issued through the "Nongquan e-loan" product [5]

八部门联合印发《支持小微企业融资的若干措施》，从增加融资供给、降低综合融资成本、提高融资效 率等8方面提出23项措施，旨在解决小微企业融资难题。对此，北京工商大学金融系教授、数字金融研 究中心主任张正平表示，在当前这一特定时间点，国家有关部委出台支持小微企业融资的重要政策文 件，且同时发挥监管、货币、财税、产业等各项政策合力，帮助小微企业解决融资难题，具有十分重要 的现实意义。张正平同时指出，对金融机构来讲，要充分利用好数字化工具，发展数字金融，利用金融 科技找好风险和收益的平衡点。(每经) ...

Core Insights - The Basel Committee on Banking Supervision (BCBS) held a plenary meeting in Stockholm, Sweden, on May 20-21, 2025, focusing on global banking risk changes, digital finance, and the optimization of regulatory rules and measures [1] Group 1 - The meeting included discussions on the evolving risks faced by the global banking industry [1] - Digital finance was a significant topic of discussion, indicating its growing importance in the banking sector [1] - The committee emphasized the need for improvements in regulatory frameworks and supervisory practices [1]

海南日报客户端消息，5月20日，海南省政府召开专题会议，研究部署海南"清凉城市"建设相关工作。省政 府党组成员赵峰，省政府秘书长符宣朝参加会议。 这意味着，中国太平副总经理、太平人寿党委书记赵峰已任海南省政府党组成员。 中国太平副总经理赵峰履新 中国太平保险集团有限责任公司简称"中国太平"，于1929年在上海创立，是我国历史上持续经营最为悠久的民 族保险品牌，也是我国唯一一家管理总部在境外的中管金融企业。2024年，中国太平实现营业收入超1700亿 元，年末总资产1.6万亿元，年末管理总投资资产近2.5万亿元。 赵峰现年52岁，是一名典型的"70后"， 毕业于哈尔滨科学技术大学计算机及应用专业，工学学士，高级工程 师。其于2023年5月至今出任中国太平副总经理。现任中国太平保险集团有限责任公司、中国太平保险集团 （香港）有限公司和中国太平保险控股有限公司副总经理，兼任太平金融服务有限公司董事长、中国太平保险 （卢森堡）有限公司董事长。 近年来，各地政府配备金融干部并不鲜见。去年以来，已有多位金融干部履新地方政府，不少担任金融副省长 要职。 赵峰2024年4月起出任太平人寿董事。今年3月，太平人寿原总经理程永红 ...

Group 1 - The core idea of the news is the collaboration between WeBank and UnionPay Business Shenzhen to launch a specialized loan product aimed at merchants on the national subsidy list, addressing their cash flow needs and promoting consumption [1][2][3] - The "Weiyedai National Subsidy Merchant Exclusive Loan" is designed to help merchants with significant inventory funding needs and short-term cash flow issues, creating a favorable consumption environment through government subsidies, corporate discounts, and financial support [1][2] - WeBank's "Weiyedai" is the first online unsecured working capital loan product in China, with over 1.6 million enterprises already credited, of which more than 38% are in wholesale and retail, including many small and micro enterprises related to national subsidies [2] Group 2 - The loan product offers customized credit limits and financing plans for new users benefiting from national subsidies, while existing customers can apply for credit increases and receive exclusive interest rate coupons [2] - The repayment options include a maximum of 24 equal installments and a 3-6 month interest-first repayment plan, aimed at reducing the financial pressure on merchants [2] - Future plans include expanding the successful experience of serving Shenzhen's national subsidy merchants to a national level, providing comprehensive digital financial product solutions to stimulate consumer spending and support the development of the real economy [3]