Group 1: Financial Policy Overview - The People's Bank of China (PBOC) announced eight significant financial opening measures focusing on financial regulation, digital finance, structural monetary policy tool innovation, and support for cross-border trade [2] - The new policies reflect the PBOC's further considerations in monetary policy, particularly in leveraging structural monetary policy tools to support the real economy and stabilize foreign trade [2][6] Group 2: Financial Regulation - The policies prioritize financial regulation, indicating the PBOC's heightened attention to potential risks in cross-market transactions within the banking system [3] - A trading report database will be established to systematically analyze transaction data across various financial sub-markets, enhancing risk identification and prevention [3] Group 3: Structural Monetary Policy Tools - The PBOC's innovation in structural monetary policy tools includes pilot programs for blockchain letters of credit refinancing, cross-border trade refinancing, and expansion of carbon reduction support tools [4] - The use of rediscounting to support commercial banks in providing RMB cross-border trade financing to import and export enterprises is emphasized, aiming to enhance the efficiency of monetary policy transmission [4] Group 4: Support for Innovation and Technology - The PBOC aims to utilize the bond market to support the development of technology innovation enterprises, addressing challenges in bond issuance and risk mitigation tools for these companies [5] - The introduction of credit risk mitigation tools for technology innovation bonds is necessary to align with the risk-return characteristics of technology firms [5] Group 5: Foreign Exchange Risk Management - The PBOC, in collaboration with the China Securities Regulatory Commission, will research the promotion of RMB foreign exchange futures trading to help financial institutions and foreign trade enterprises manage exchange rate risks [6]

一、优化两岸共同"生活圈"金融生态，服务台胞台资企业登陆第一家园建设 中国人民银行 国家外汇局联合印发《关于金融支持福建探索海峡两岸融合发展新路 建设两岸融合发展 示范区的若干措施》 为贯彻落实中共中央、国务院《关于支持福建探索海峡两岸融合发展新路 建设两岸融合发展 示范区的意见》，深化两岸金融领域融合发展，近日，中国人民银行、国家外汇局联合印发 《关于金融支持福建探索海峡两岸融合发展新路 建设两岸融合发展示范区的若干措施》（以 下简称《若干措施》）。 《若干措施》着眼两岸融合发展示范区建设，支持福建探索海峡两岸融合发展新路，助力两 岸交流交往交融。《若干措施》从优化两岸共同"生活圈"金融生态、服务台胞台资企业登陆 第一家园建设，支持在福州、厦门、泉州开展跨境贸易高水平开放试点，支持资本项下跨境 投融资便利化，全面加强金融监管、有效防范化解金融风险等四方面提出12条政策措施，对 持续深化两岸融合发展示范区建设、推进金融高水平开放具有重要意义。 下一步，中国人民银行、国家外汇局将推动《若干措施》各项政策措施落实落细，进一步加 大金融支持海峡两岸融合发展力度，为两岸融合发展示范区建设提供有力的金融支撑。 附件： ...

然而，稳定币的快速扩张是在一个监管相对滞后的环境中发生的。 稳定币的"灰色地带"性质——它既像支付网络，又带有银行存款的某些特征，同时又与证券市场有所关 联。这种模糊性使得现有监管框架难以完全适用。 发行商通过投资储备资产获得巨额利润，这本身并非问题，但储备资产的透明度、质量和流动性，以及 发行商是否真正做到1:1支持，是其稳定性的基石。 Tether过去的争议以及发行商普遍只提供证明而非全面审计的做法，持续引发市场对其储备真实性的担 忧。这与19世纪美国"野猫银行"的历史教训形成了令人不安的回响——当时缺乏统一监管的银行滥发纸 币，最终导致广泛的金融不稳定。 更为严峻的是，稳定币已成为非法活动的主要工具。尽管区块链的公开性理论上提供了可追溯性，但 DeFi领域的匿名性和缺乏中心化审查的特性，为洗钱、毒品贩运等犯罪活动提供了便利。 稳定币，这种旨在锚定法定货币价值的加密资产，正以前所未有的速度从加密货币的边缘地带迈向全球 金融体系的核心。这不仅仅是技术爱好者的实验，而是正在深刻影响跨境支付、资产储备乃至宏观金融 稳定的现实力量。 稳定币的主流化并非偶然，其背后有着强劲的市场需求。 对于身处高通胀、货币贬值或资 ...

美国证券交易委员会（SEC）主席阿特金斯（Paul Atkins）表示，在即将出台的监管政策中，希望SEC 工作人员们考虑缩小私募基金顾问必须向监管机构提供的数据范围。遵守新数据报告要求的截止日期将 从6月12日推迟到10月1日。但更有限的数据收集可能对对冲基金和私募股权公司来说是一个更大的胜 利。 ...

Group 1 - Jamie Dimon, Chairman and CEO of JPMorgan Chase, expressed concerns that the U.S. labor market and key economic indicators are likely to deteriorate soon, influenced by structural changes in trade patterns and geopolitics [1] - Dimon noted that the effects of tariff policies are beginning to manifest, predicting more significant impacts between July and October, but hopes for a relatively mild soft landing [1] - He emphasized the close relationship between consumer performance and the job market, warning that a resurgence of inflation or stagflation could trigger market panic [1] Group 2 - Dimon criticized current financial regulations as overly complex and ineffective in assessing real risks, specifically pointing out fundamental flaws in the Comprehensive Capital Analysis and Review (CCAR) [1] - He suggested that if he were in charge of the Federal Deposit Insurance Corporation (FDIC), he would work with other CEOs to reduce interest rate risk exposure and improve regulatory rules [1] - Dimon stated that some regulators lack a true understanding of the market environment, being overly reliant on economic theory without practical insight [1] Group 3 - JPMorgan Chase aims to maintain dividend payouts while prioritizing organic growth before considering external expansion [2] - Dimon reiterated the company's target of a 17% tangible common equity return rate, emphasizing the importance of achieving this through organic growth [2] - The company sees growth potential across various business segments, including commercial banking payments, consumer auto loans, mortgages, credit cards, and wealth management [2] Group 4 - Overall customer sentiment at JPMorgan Chase remains stable, with consumers having income and jobs, although savings accumulated during the pandemic are nearly depleted [2] - The business environment for corporations is also described as relatively stable [2] - Dimon commented on the status of the U.S. dollar, stating that if the U.S. were to lose its military and economic leadership, the dollar would cease to be a reserve currency, although no currency currently has the potential to replace it [2]

欧盟委员会建议禁止与涉及规避对俄制裁的银行进行交易。 ...

Group 1 - The Hong Kong Securities and Futures Commission (SFC) issued a restriction notice to Huanlian International Asset Management due to concerns about its reliability, integrity, and ability to conduct regulated activities properly [1] - The SFC's action reflects high standards required from market participants to ensure market fairness and transparency [1] Group 2 - The SFC is collaborating with global regulatory bodies to curb illegal activities by financial influencers who promote financial products on social media, potentially putting millions of users at risk [2] - The effectiveness of the SFC's efforts will be enhanced through cooperation with other regulators, emphasizing the need for investors to verify the regulatory status and credibility of financial influencers before making investment decisions [2] Group 3 - Baize Medical Group passed the Hong Kong Stock Exchange (HKEX) listing hearing and is expected to list soon, focusing on oncology medical services through ownership and management of multiple hospitals [3] - The projected revenues for Baize Medical from 2022 to 2024 are 803 million, 1.072 billion, and 1.189 billion respectively, indicating growth potential in the healthcare sector [3] Group 4 - Stone Technology, a manufacturer of smart cleaning robots, announced plans to issue shares and list on the HKEX to enhance its global brand recognition and competitiveness [4] - This move aims to optimize capital structure, diversify financing channels, and strengthen corporate governance, positioning the company to capitalize on the growing demand for smart cleaning robots [4] Group 5 - The latest performance of the Hong Kong stock market shows the Hang Seng Index at 23,792.54, down 0.48%, the Hang Seng Tech Index at 5,286.52, down 0.63%, and the National Enterprises Index at 8,629.75, also down 0.63% [5]

// 今日关注 // 1 、 财政部立法工作安排出炉！预算法、全国社保基金境内投资管理办法在列 2 、日本央行考虑放缓削减购债规模的步伐 3 、万科 A ：深铁集团拟向公司提供不超过 30 亿元借款 4 、 3 月和 4 月美国非农合计下修 9.5 万人 5 、金穗春操纵股票被证监会罚没过亿 +5 年证券市场禁入 // 宏观预警 // 1 、 财政部立法工作安排出炉！预算法、全国社保基金境内投资管理办法在列 财政部公布的 2025 年度立法工作安排显示，今年财政部将推进资产评估法（修改）、预算法（修 改）、增值税法实施条例（制定）等法律、行政法规起草工作 ；研究制定、修订全国社会保障基金境 内投资管理办法、企业财务通则、金融企业国有资产评估监督管理暂行办法、金融企业国有资产转让管 理办法、会计基础工作规范等财政规章。 华润股份有限公司公告，综合考虑簿记建档发行情况，鉴于近期市场波动较大，发行人经与簿记 管理人协商一致， 决定取消" 25 华润 MTN003A "的发行，本期债券品种二发行规模为 25 亿 元。 // 中国债券预警 // 1 、融创中国披露境外债务重组进展：将基础同意费截止日期延长至 6 月 2 ...

美联储理事、负责金融监管事务的副主席鲍曼：大型银行的秘密评级问题将得到处置。 美联储将评估大型金融机构的评级。 ...

Core Viewpoint - The UK Financial Conduct Authority (FCA) has lifted the ban on cryptocurrency exchange-traded notes (ETNs) to enhance growth and competitiveness in the UK market [1] Group 1 - The FCA's decision aims to support the development of the cryptocurrency market in the UK [1] - The lifting of the ban is expected to attract more investment and innovation in the financial sector [1] - This move aligns with the UK's broader strategy to position itself as a global hub for cryptocurrency and fintech [1]