Group 1: Financial Data Overview - As of the end of March, the total deposit balance in Tianjin reached 4.84 trillion yuan, a year-on-year increase of 7.0%, with an increase of 99.3 billion yuan since the beginning of the year [2] - The loan balance in Tianjin stood at 4.72 trillion yuan, showing a year-on-year growth of 2.7%, with an increase of 99.5 billion yuan since the beginning of the year [2] - The balance of loans to small and micro enterprises reached 1.21 trillion yuan, a year-on-year increase of 18.4%, accounting for 38.5% of total enterprise loans, up 1.7 percentage points from the end of the previous year [2] Group 2: Social Financing and Economic Support - In the first quarter, the social financing scale in Tianjin increased by 141.2 billion yuan, with the banking sector providing 77.5 billion yuan to the real economy, accounting for 54.9% of the total social financing [3] - The net financing from corporate bonds in the first quarter was 13.5 billion yuan, an increase of 20.8 billion yuan year-on-year, while local government bonds saw net financing of 40.5 billion yuan, also up by 20.8 billion yuan year-on-year [3] Group 3: Foreign Exchange and Trade Facilitation - As of April 20, 369 enterprises participated in the foreign exchange facilitation pilot program, with 19 banks involved, and the total amount of trade foreign exchange facilitation business exceeded 50 billion US dollars [4] - The People's Bank of China has introduced various policies to enhance cross-border financing convenience, including pilot programs for foreign debt registration and capital project income payment [5] - The establishment of a cross-border integrated fund pool for multinational companies has been approved, improving fund management efficiency and reducing financial costs for enterprises [5] Group 4: Policy Optimization and Implementation - The Tianjin Banking Association has released implementation details to optimize foreign exchange service policies for financial leasing companies, facilitating direct foreign currency borrowing [6] - Simplification of domestic fund payment procedures has been implemented, merging payment order letters and domestic remittance application forms to enhance the convenience of fund usage for enterprises [6]

Core Viewpoint - The People's Bank of China aims to broaden financing channels for private enterprises in a more targeted manner, emphasizing the importance of bond financing support tools and promoting new debt financing instruments [1] Financing Channels - The central bank will enhance the role of bond financing support tools for private enterprises [1] - There will be a promotion of "two new" debt financing instruments to facilitate access to capital [1] Policy Measures - The implementation of stock buyback and increased lending will be utilized to support private enterprises [1] - The central bank plans to improve cross-border investment and financing facilitation policies [1]

2025 年 04 月 28 日 双融日报 --鑫融讯 分析师：万蓉 S1050511020001 wanrong@cfsc.com.cn 市场情绪：62 分（较热） 最近一年大盘走势 -15 -10 -5 0 5 10 15 20 (%) 沪深300 相关研究 1、《双融日报》2025-04-25 2、《双融日报》2025-04-24 3、《双融日报》2025-04-23 ▌ 华鑫市场情绪温度指标：（较热） 华鑫市场情绪温度指标显示，昨日市场情绪综合评分为 62 分，市场情绪处于"较热"。历史市场情绪趋势变化可参 考图表 1。 ▌ 热点主题追踪 今日热点主题：跨境支付、虚拟电厂、农业 1、跨境支付主题：中国央行等印发《上海国际金融中心 进一步提升跨境金融服务便利化行动方案》。主要内容提 到，跨境清算公司增强与金融机构协同联动，共同提升对 "走出去"企业的服务水平。推动更多银行加入 CIPS，持续 扩大 CIPS 网络覆盖范围。相关标的：跨境通（002640）、青 岛金王（002094） 2、虚拟电厂主题：近日，国家发展改革委、国家能源局 发布《关于加快推进虚拟电厂发展的指导意见》。其中提 到，到 2027 ...

人民币汇率弹性增强 今年以来，我国外汇市场运行总体平稳。人民币汇率双向浮动，保持相对稳定。4月份以来，美方单边 主义、保护主义行径引发国际金融市场剧烈波动，人民币对美元汇率先贬后升，与4月3日美宣布对贸易 伙伴加征所谓"对等关税"前的水平大体相当。 今年以来，外部环境发生深刻变化，国际金融市场波动加大。我国有力有效应对外部挑战，经济保持回 升向好，外汇市场运行总体平稳。国家外汇管理局数据显示，今年一季度，我国外汇市场交易理性有 序，跨境资金呈现净流入。 跨境资金净流入 一季度，企业、个人等非银行部门跨境资金净流入517亿美元，处于历史同期较高水平。 "主要渠道跨境资金流动平稳有序。"国家外汇管理局副局长、新闻发言人李斌介绍，货物贸易资金净流 入较快增加。一季度，我国外贸克服外部压力呈现较强韧性，货物贸易项下跨境资金净流入2063亿美 元，同比增长1.2倍。外资配置人民币债券增多。2月份至3月份外资净增持境内债券269亿美元，同比增 长84%。服务贸易、外资企业利润汇出总体平稳。一季度，服务贸易跨境资金净流出同比增长25%，其 中旅行项下资金净流出增长12%。 近一段时间，境外机构普遍看好我国债券市场，增持债券 ...

Group 1 - Inner Mongolia has been enhancing the level of cross-border trade facilitation since the beginning of the year [1] - The State Administration of Foreign Exchange approved the expansion of the integrated currency pool pilot program for multinational companies in Inner Mongolia and 15 other provinces [1] - The new policy allows multinational companies to determine the concentration ratio of foreign debt and overseas loans based on macro-prudential principles [1] - Multinational companies can conduct cross-border payment and receipt business in RMB, and banks can directly handle capital project changes not involving foreign debt and overseas loan quotas [1] Group 2 - Starting from April 1, the State Administration of Foreign Exchange opened online processing for two types of approvals related to foreign exchange, significantly improving the business environment [2] - The "Digital Foreign Exchange" platform allows businesses to complete the entire process online, reducing processing time by more than half compared to traditional methods [2]

深圳新闻网2025年4月27日讯（深圳晚报记者 任宪平）"为国家试制度，为地方谋发展"是自由贸易区的 初心使命。自2015年4月27日挂牌以来，中国（广东）自由贸易试验区深圳前海蛇口片区（以下简称前 海蛇口自贸片区）通过构建贸易自由、投资自由、资金自由、运输自由、人员从业自由、信息快捷联通 等"五自由一便利"开放体系，从制度创新"试验田"到区域发展"新引擎"。 创新打造"深圳·前海e站通"；企业登记"秒批"率先试点；创新码头口岸中转便捷通关模式……前海蛇口 自贸片区以"制度创新"为核心使命，首创性成果密集涌现。 "入驻自贸区以来，政策创新带来的'降本增效'，支持企业不断创新产业运营模式。"深圳湾游艇会总经 理助理余佩炫介绍，2017年《粤港澳游艇自由行实施方案》发布，深圳湾游艇会采用"定点停靠、就近 联检"的通关模式，接待了首艘港澳籍游艇。随着政策持续迭代，2022年，游艇自由行实行免担保政 策，使港澳游艇通关时间缩短超70%，通关成本降低约80%，目前通关时间约20分钟。深圳湾游艇会也 成为全国首个实现"免担保入境"的码头，为全国游艇产业提供了可复制的经验。 前海蛇口自贸片区累计推出882项制度创新成果，其 ...

Core Points - The 137th Canton Fair has attracted nearly 170,000 foreign buyers and over 30,000 global exhibitors, highlighting its significance as a major platform for international trade in China [2] - The Guangdong Provincial Branch of the State Administration of Foreign Exchange has implemented various measures to enhance currency exchange services for foreign visitors during the Canton Fair [3][4] Group 1: Currency Exchange Services at the Airport - A service guide for foreign visitors has been created, detailing currency exchange facilities and contact information, and distributed via email and various promotional channels [3] - New authorized exchange outlets have been established at Baiyun Airport to meet the currency exchange needs of foreign merchants during the fair [4] - From April 13 to April 19, 2025, 6,131 foreign individuals exchanged a total of 12.9 million yuan at Baiyun Airport, representing significant increases of 37.19% and 37.84% compared to the same period last year [4] Group 2: Currency Exchange Facilities at the Fair - The Canton Fair venue features a diversified currency exchange service system, including 11 bank counters, 11 extended counters, and 8 self-service exchange machines, covering all four exhibition areas [5] - During the first phase of the fair from April 15 to 19, these facilities served approximately 3,000 visitors, with an exchange amount of about 12.5 million yuan [5] - The exchange facilities are equipped with multilingual support and provide small denomination currency exchange services [5] Group 3: Currency Exchange Services at Hotels - Currency exchange facilities have been established in 63 star-rated hotels in Guangzhou, making them convenient points for foreign visitors [6] - The Guangdong Provincial Branch has organized training for banks to enhance the services provided by hotel exchange agencies and ensure effective handling of potential issues [6] - Clear signage and transparent exchange rates have been emphasized to facilitate easy access to currency exchange services for foreign guests at hotels [6]

Core Viewpoint - The Director of the Industry Development Department of the Ministry of Culture and Tourism, Miao Mu Yang, emphasized that inbound tourism and shopping enhance Sino-foreign exchanges and promote mutual understanding, providing emotional value [1] Group 1: Inbound Tourism and Shopping - Inbound tourism and shopping are beneficial for deepening exchanges and personnel interactions between China and foreign countries [1] - The implementation of departure tax refunds for foreign travelers aims to facilitate shopping and attract more inbound tourists, thereby expanding the scale of inbound tourism [1] Group 2: Domestic Products and Cultural Goods - The initiative is expected to help more high-quality domestic products, especially those with cultural connotations, creative products, intangible cultural heritage items, and smart products, to go abroad [1] - The focus is on promoting national products that embody the latest development achievements and cultural significance [1]

Core Insights - The establishment of Shanghai's first aviation pre-cargo station in the Songjiang Comprehensive Bonded Zone is expected to enhance customs clearance efficiency by 30% and reduce logistics costs by 15% [1][2] - The project aims to create a high-speed air transport trade channel, facilitating the integration of industrial districts like Songjiang, Fengxian, and Qingpu into the global supply chain [1] Group 1 - The aviation pre-cargo station is described as a "satellite station" to airport cargo stations, allowing import and export companies to complete all customs inspections and clearance procedures before arriving at the airport, thus reducing logistics costs and improving service efficiency [1] - The station is located at No. 120 Rongjiang Road, with an initial regulatory area of 6,000 square meters, enabling efficient coordination between the bonded zone and the airport operations [1][2] - The project will significantly compress turnover time and lower operational costs by allowing export goods to undergo inspections and packaging in Songjiang, with direct release by Songjiang Customs [1] Group 2 - The Songjiang aviation pre-cargo station pioneers a "district-port linkage" model, integrating port channel hub functions with bonded warehousing capabilities [2] - The station is expected to optimize the logistics chain and enhance the operational efficiency of cross-border e-commerce and emerging industries, supporting trade facilitation and innovative international trade models like "Silk Road E-commerce" [2] - Future plans include focusing on attracting industries such as cross-border e-commerce, biomedicine, and high-end equipment, while exploring high-value-added services like international transshipment and cold chain logistics [2]

Group 1 - Yunnan Province is enhancing its agricultural export capabilities by focusing on highland特色农业 and leveraging its resource advantages to develop unique agricultural products for international markets [1][2] - The province's trade with ASEAN has shown significant growth, with a projected trade volume of 109.32 billion yuan in 2024, marking ASEAN as Yunnan's largest trading partner for 20 consecutive years [2] - In the first quarter of this year, Yunnan's imports from ASEAN reached 3.22 billion yuan, a year-on-year increase of 26.5%, while exports to ASEAN amounted to 2.98 billion yuan, growing by 23.1% [2] Group 2 - The opening of the China-Laos Railway has significantly improved cargo transportation efficiency, with cross-border cargo volume exceeding 1.5 million tons in the first quarter, reflecting a 10% year-on-year increase [2] - Yunnan's exports of agricultural products to Vietnam reached 1.55 billion yuan in the first quarter, showing a remarkable growth of 90.1% [3] - The Kunming Customs has implemented 22 measures to optimize the port business environment, facilitating smoother customs processes for Yunnan's export-oriented industries [4] Group 3 - The province is actively promoting cross-border e-commerce and supporting enterprises in expanding their markets, aiming to enhance the overall trade volume [4] - Yunnan's exports of fruits and nuts to ASEAN have surged, with a year-on-year increase of 132.6% in the first quarter [2] - The establishment of logistics hubs and overseas warehouses is part of Yunnan's strategy to strengthen its supply chain and enhance trade facilitation [4]