Group 1 - Financial institutions are increasing policy support and innovating financial service models to assist foreign trade enterprises in securing orders, expanding markets, and stabilizing customer relationships, thereby providing strong support for stable growth in foreign trade [2] - The Export-Import Bank of China’s Xiamen branch issued a foreign currency shipbuilding prepayment guarantee for Xiamen Xiangyu Co., Ltd., helping the company secure orders for two bulk carriers over 200,000 tons, highlighting the importance of quick guarantee issuance in winning international orders [2] - Several banks, including the Export-Import Bank and Bank of China, have launched special plans to enhance service quality for foreign trade enterprises, focusing on increasing credit input, optimizing resource allocation, and improving service efficiency [2] Group 2 - The Export-Import Bank of China has introduced a special work plan to strengthen financial support in the foreign trade sector, aiming to promote stable growth in foreign trade by leveraging its advantages in overseas markets [3] - The bank plans to support manufacturing enterprises in their high-quality "going out" strategy and will continue to enhance financial support for key areas and weak links in foreign trade, addressing the challenges faced by foreign trade enterprises [3] - In the first five months of this year, the Export-Import Bank has issued loans totaling 460 billion yuan in the foreign trade sector and has issued 47 billion yuan in themed financial bonds related to foreign trade [3] Group 3 - The Deputy Governor of the People's Bank of China emphasized the need for further reforms in trade foreign exchange business management and the implementation of high-level open pilot projects to support trade innovation and development [4] - Financial management departments are encouraged to enhance service proactivity and accelerate product service innovation to meet the diverse needs of foreign trade enterprises, ensuring safe foreign exchange collection and reducing financing and transaction costs [4] - Structural monetary policy tools can provide banks with low-cost funds, increasing their motivation to engage in trade financing activities, thereby supporting stable growth in foreign trade [4]

Core Viewpoint - South Korea has lifted a 14-year ban on domestic institutional investment in "kimchi bonds" to improve foreign exchange liquidity and alleviate the depreciation pressure on the Korean won [1] Group 1: Policy Changes - The Bank of Korea announced that starting next week, it will fully lift restrictions on investments in foreign currency-denominated bonds (kimchi bonds) issued domestically [1] - The ban was initially implemented in 2011 due to concerns that excessive investment in foreign currency bonds could increase short-term external debt levels [1] Group 2: Market Implications - The policy adjustment excludes private placement kimchi bonds, indicating potential regulatory concerns [1] - This decision aims to stabilize the foreign exchange market and broaden domestic financing channels, reinforcing Seoul's position as a regional financial hub [1]

Core Viewpoint - The company, Sangfor Technologies, is actively engaging in foreign exchange hedging activities to mitigate market risks and enhance financial stability while also adjusting its stock incentive plan to align with its strategic goals [3][5][8]. Company Announcements - Sangfor Technologies' board meetings on June 25, 2025, approved several key resolutions, including the convening of a temporary shareholders' meeting on July 11, 2025, to discuss foreign exchange hedging [2][5]. - The company plans to conduct foreign exchange hedging activities with a transaction amount not exceeding $5 billion or equivalent foreign currency, using its own funds [3][5]. - The company has adjusted the grant price for its 2024 restricted stock incentive plan from 11.95 yuan/share to 11.83 yuan/share, with the grant date set for June 25, 2025 [4][8]. Stock Incentive Plan - The company will grant 1.157 million shares of restricted stock to 43 incentive targets at a price of 11.83 yuan/share, which represents 0.19% of the total share capital [7][9]. - The incentive plan includes a two-phase vesting schedule, with shares vesting after 12 and 24 months, and a six-month lock-up period post-vesting [7][9]. - The total estimated expense for the stock incentive plan is approximately 41.18 million yuan, to be amortized from 2025 to 2027 [7].

外汇汇回机制是一项关键的法律义务：出口所产生的外汇收益必须汇回CEMAC地区，并部分交由 BEAC。这一机制让中央银行积累官方外汇储备，并维持中非法郎与欧元之间的固定汇率。换言之，汇 回量越大，央行用于维护货币稳定的操作空间就越大，从而避免调整与欧元的固定汇率。 （原标题：13898亿中非法郎（约为23.16亿美元）汇回，13409亿中非法郎（约为22.35亿美元）转出： CEMAC陷入恶性循环） "EcoMatin"网站6月19日报道，自2019年3月开始实施以来，中非经济与货币共同体（CEMAC）地 区的新外汇规定不断产生显著的经济影响，首当其冲的是企业汇回至中非国家银行（BEAC）的外汇金 额大幅增加。据中非国家银行行长伊冯·萨纳·班吉（Yvon Sana Bangui）在喀麦隆举办的第三届金融周 （Finance Week）上透露，从2019年的6201亿FCFA增加到了2024年的13898亿FCFA。他表示："这 75.6%的增长，反映了该制度日益强大以及外汇流动监管能力的提升。"然而，尽管汇回努力卓有成 效，2024年CEMAC的外汇流出却达到13409亿FCFA，是2018年的三倍。这种几乎对 ...

Core Viewpoint - The document outlines the foreign exchange hedging policy of Jiangxi Fuxiang Pharmaceutical Co., Ltd., emphasizing risk management and compliance with relevant laws and regulations [3][4][5]. Summary by Sections General Provisions - The policy aims to standardize the foreign exchange hedging activities of the company and its subsidiaries to effectively prevent and control risks [3]. - Foreign exchange hedging activities are defined as transactions conducted with qualified financial institutions to mitigate exchange rate or interest rate risks [3]. Operational Regulations for Foreign Exchange Hedging - The company will not engage in hedging solely for profit; all activities must be based on normal business operations and aimed at risk avoidance [4]. - Transactions are restricted to approved financial institutions, and the company must establish its own hedging accounts [4][5]. - The company must have sufficient self-owned funds to match the margin for hedging activities and cannot use raised funds for these transactions [4]. Approval Authority for Foreign Exchange Hedging - All hedging activities require approval from the board of directors or shareholders, with specific thresholds for reporting to shareholders based on investment amounts [5][6]. - The chairman of the board or authorized personnel are responsible for the implementation and management of hedging activities [6]. Management and Internal Procedures - The finance department is responsible for the execution of hedging activities, including planning, funding, and daily management [7]. - The audit department oversees the actual operations of hedging activities, ensuring compliance and monitoring financial performance [7]. Confidentiality and Risk Reporting - All personnel involved in hedging must adhere to confidentiality protocols regarding the company's hedging strategies and financial information [8]. - In the event of significant risks or losses, the finance department must report to the board and propose countermeasures [8]. Information Disclosure - The company is required to disclose relevant information regarding its foreign exchange hedging activities in accordance with regulations from the China Securities Regulatory Commission and the Shenzhen Stock Exchange [8]. Miscellaneous - The policy will take effect upon approval by the board and will be interpreted by the board of directors [9].

Core Viewpoint - The People's Bank of China emphasizes the need to enhance the resilience of the foreign exchange market and stabilize market expectations to prevent excessive fluctuations in the exchange rate, aiming to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level [1] Group 1 - The monetary policy committee of the People's Bank of China held its second quarter meeting for 2025 on June 23 [1] - The meeting highlighted the importance of preventing risks associated with exchange rate overshooting [1] - The focus is on maintaining the RMB exchange rate stability within a reasonable and balanced range [1]

Core Viewpoint - A significant number of foreign exchange options with strike prices exceeding 1 billion are set to expire on June 27, 2023, at 22:00 Beijing time, which may impact market volatility and trading strategies [1]. Group 1: Currency Pairs and Values - The following currency pairs have notable option values and strike prices: - Euro to USD: 18 billion euros at 1.1600, 5.7 billion euros at 1.1625, 15 billion euros at 1.1650, 8.88 billion euros at 1.1700, 3.46 billion euros at 1.1725, and 3 billion euros at 1.1750 [3]. - Euro to CHF: 3.9 billion euros at 0.9360 [4]. - GBP to USD: 10 billion GBP at 1.3600 [4]. - AUD to USD: 4.91 billion AUD at 0.6500 and 3.5 billion AUD at 0.6570 [4]. - USD to CAD: 11 billion USD at 1.3645-1.3650 [4]. - USD to JPY: 3.55 billion USD at 144.00 and 7.75 billion USD at 145.00 [5]. Group 2: Expiration Impact - The expiration of these large options may lead to increased volatility in the respective currency pairs, particularly for those with significant values at critical strike prices [1][4].

Core Viewpoint - The Bank of Thailand is reportedly preparing to intervene in the foreign exchange market to curb market volatility [1] Group 1 - The central bank's intervention aims to stabilize the Thai baht amid fluctuations [1] - The decision reflects concerns over excessive volatility in the currency market [1] - The Bank of Thailand's actions may influence investor sentiment and market dynamics [1]

Group 1 - The Bank of Thailand is reportedly preparing to intervene in the foreign exchange market to curb market volatility [1]

泰国央行准备介入以抑制外汇波动。 ...