助力绿色经济可持续发展 随着国家"双碳"目标的推进，绿色金融已成为资本市场服务实体经济的重要方向。安粮期货相关负责人 表示，公司顺应绿色发展趋势，助力绿色经济高质量发展，为某新能源产业链企业量身定制"期货+期 权"组合策略，首创"期货虚拟库存+现货物理库存"双轨联动机制，借助"成本利润+库存+基差"三位一体 定价模型，帮助企业成功化解碳酸锂价格波动风险。该模式通过期权保护规避了库存贬值风险，为新能 源产业链构建了立体化风险管理体系。 服务乡村振兴和实体经济 本报讯 （记者王宁）今年2月7日，中国证监会发布《关于资本市场做好金融"五篇大文章"的实施意 见》（以下简称《实施意见》），为期货行业服务国家战略、深化改革创新提供了行动指南。近日，安 粮期货股份有限公司（以下简称"安粮期货"）相关负责人向记者表示，公司作为服务实体经济的中坚力 量，立足自身业务特点与优势，积极探索在科技金融、绿色金融、普惠金融、养老金融、数字金融方面 的落实举措，致力于将政策红利转化为服务实体经济、推动高质量发展的实际成效。 提升创新服务水平 "在当前智能化、数字化转型背景下，公司紧跟时代步伐，通过大数据分析、人工智能等技术手段，深 入挖 ...

Group 1: Financial Support for Industry Development - The document outlines support for technology innovation industries, encouraging financial institutions to innovate bill discount products and increase financing support for eligible enterprises in Nansha [1] - It emphasizes support for high-end manufacturing industries, including the issuance of technology innovation bonds and exploring mixed financing models [1][2] - The document highlights the importance of supporting digital industries by establishing data centers and enhancing cooperation with digital asset trading platforms [2] Group 2: Financial Services for Social and Economic Development - It promotes the facilitation of cross-border payment services, including expanding the pilot scope for Hong Kong and Macau residents to open accounts [3] - The document supports cross-border credit financing by encouraging cooperation among credit institutions in the Guangdong-Hong Kong-Macau region [3] - It aims to enhance the convenience of international professionals' practice by promoting mutual recognition of professional qualifications [3] Group 3: Development of Specialized Financial Services - The document encourages the innovation of green financial services, including the exploration of electricity futures and supporting enterprises in sustainable information disclosure [4] - It outlines the development of digital financial services, supporting the application of generative AI in finance and establishing a research think tank for digital finance [4][5] - The document supports the construction of a cross-border asset management center in the Guangdong-Hong Kong-Macau Greater Bay Area [5] Group 4: International Leasing and Factoring Business - It supports the exploration of international factoring business by qualified commercial factoring companies and encourages the use of foreign exchange income for domestic leasing [6] - The document promotes the development of a competitive leasing industry by providing policy support for aircraft, ships, and large equipment leasing [6]

东南亚科技公司Sea(SE.US)将于5月13日公布2025年第一季度财务业绩。华尔街分析师预计，Sea第一季 度营收将同比增长29.7%至49.1亿美元，每股收益将从上年同期的0.21美元大幅增长至0.93美元。 Sea的端到端物流整合，特别是通过SPX Express，预计将为该公司2025年第一季度的业绩做出积极贡 献。SPX快递继续提高服务标准，在东南亚地区提供更快、更可靠的快递服务。SPX Express在亚洲近 50%的包裹在两天内送达，而且很可能改善了客户体验和平台留存率。 Sea在第一季度的业绩预计将受益于其数字金融服务的持续扩张，特别是在东南亚和巴西的消费者及中 小企业贷款方面。信贷部门仍然是主要的营收驱动因素，2024年第四季度的贷款同比增长超过60%。随 着信贷渗透的持续改善，该部门已做好准备，推动2025年第一季度强劲的营收增长。 但值得注意的是，今年年初电子商务领域的季节性疲软预计将对Sea旗下电子商务平台Shopee在第一季 度的增长势头构成不利影响。另外，电子商务领域一直是高度竞争的，这可能会对Shopee的收费率构成 压力，并要求其在服务质量方面进行持续投资。 Sea的数字娱乐 ...

以下文章来源于中国金融四十人论坛 ，作者李礼辉 中国金融四十人论坛 . 聚焦金融热点，速递论坛动态，独家发布论坛课题成果，连载书系新书、好书。 文/中国银行原行长 李礼辉 可信任的数字金融应具备模型可信、解释性强、安全防护能力高等特性， 同时需要明确金融智能体的法律地位、行为边界和责任关系。金融业应采 用行业级垂直模型与企业级垂直模型融合发展的技术路线，支持科技企业 与金融机构深度合作，共建数字金融生态圈。 中国大模型发展的新突破 AI技术的陷阱与挑战 虽然看到了这些进步，但我们还要特别关注，生成式AI和推理式AI的技术陷阱依然存在。归纳下来主 要是几个方面。 前面四位主讲嘉宾来自于中国最大、最好的金融机构和科技大厂，他们的演讲非常有示范意义和指导意 义。这里我就可信任的数字金融说一说自己粗浅的认知。 最近几个月，大家特别关注的还是中国深度求索发布的开源的DeepSeek-V3。全球大模型评比榜单、AI 集成平台等不同机构给予DeepSeek-V3很高的评价，认为与GPT-4o性能不分伯仲，很多方面的表现位列 全球前几名。中国其它的大模型也做得特别好，例如阿里巴巴的通义。 舆论更多关注的是财务因素。据财联社消 ...

Core Insights - Tianjin Rural Commercial Bank reported total assets of 455.3 billion yuan, a year-on-year growth of 6.20% as of the end of 2024 [1] - The bank's net profit reached 2.946 billion yuan, with a growth rate of 5.98% [1] - The non-performing loan ratio improved to 1.5%, indicating enhanced asset quality [4] Financial Performance - Total liabilities amounted to 417.5 billion yuan, growing at 5.89% [1] - Operating income was 9.361 billion yuan, reflecting a growth of 3.34% [1] - The bank's net interest income accounted for 73.73% of total income, while non-interest income made up 26.27%, showing an improvement in income structure [5] Business Strategy - The bank adheres to a "six-pronged" operational philosophy focusing on differentiated operations, specialized services, and digital empowerment [1] - It aims to optimize its business structure by concentrating on inclusive finance, elderly finance, and green finance [2] Sector-Specific Initiatives - In technology finance, the bank established specialized branches and increased loans to tech enterprises by 24%, reaching 19.887 billion yuan [2] - Green loans surged by 57% to 19.212 billion yuan, significantly outpacing overall loan growth [2] - Inclusive finance initiatives led to a 9.11% increase in loans to small and micro enterprises, totaling 37.857 billion yuan [2] Risk Management and Compliance - The bank's non-performing asset ratio decreased to 1.79%, and the provision coverage ratio improved to 200.31% [4] - Core Tier 1 capital adequacy ratio stood at 11.74%, exceeding regulatory requirements by 4.24 percentage points [4] Future Outlook - The bank plans to focus on optimizing asset structure, enhancing retail capacity, and improving digital financial capabilities in 2025 [5]

文/中国社会科学院大学教授、国务院原副秘书长 江小涓 当前数字金融发展需要关注的若干问题包括：通过金融创新为数据要素市 场发展提供支撑；在商业银行科创金融业务中存在评估创新企业发展前景 的痛点；关注新型风险；既要注重数智化，也要强调完善体制机制创新。 以下为江小涓近日在 "2025年一季度我国数字经济金 融形势分析"闭门研讨会上所作的主题交流，根据 发言实录整理。 第一，通过金融创新为数据要素市场发展提供支撑。 数据资产估值难已经成为抵押信贷创新的堵点。 现在我们数智科技的全球影响力急剧上升，海外各大证券市场都在努力成为中国优质企业的上市地点。 现在海外资本市场对中国企业比较欢迎，去年在纽约上市的中国企业较前几年大幅增加。今年4月份在 美股上市的国内企业数量还在继续增加。对国内科技企业而言这是好事，如果创新企业有发展潜力，但 是国内资本市场不让上或者上不去，海外上市就成为另一个选项。 但是这个变化对国内资本市场而言就是挑战，国内资本市场不改变，不增强对科创企业的吸引力，优质 的市场主体就会流失，全球市场是开放的竞争格局。 未来金融科技发展需要对快速迭代的新技术具有前瞻和洞察能力。科技金融机构有评估科创企业的需 ...

专题：证监会印发《推动公募基金高质量发展行动方案》 近日，中国证监会印发《推动公募基金高质量发展行动方案》，落实新"国九条"要求，推动行业从"规 模驱动"向"回报导向"转变，将行业重心转向投资者的收益体感与获得感。《方案》不仅是对基金公司 经营逻辑的重构，更是对销售机构责任与价值的重新定义：唯有真正成为投资者与资产管理的"双向桥 梁"，方能践行普惠金融、数字金融的价值。 构建投资者利益优先的"透明化市场" 中国公募基金行业历经27载发展历程，实现了规模与产品数量的跨越式增长。公开数据显示，全市场公 募基金规模已经超过32万亿元，产品数量达到1.26万只。然而，伴随行业规模快速增长，产品收益与投 资者回报未成正比等痼疾仍然突出，行业发展亟待破局。 登录新浪财经APP 搜索【信披】查看更多考评等级 践行普惠金融和数字金融大文章 公募基金作为普惠金融的标杆，其核心价值在于以专业能力为亿万居民提供可及、可持续的财富管理服 务，其高质量发展亦与国家金融强国战略、实体经济发展、居民共同富裕目标深度契合。 《方案》明确要求提升权益投资规模与质量，通过优化注册机制、丰富指数基金供给、强化长期投资约 束，引导更多中长期资金入市 ...

Core Insights - Chengdu Bank reported a total asset of over 1.2 trillion yuan, with a year-on-year growth of 14.56%, and achieved net profit of 12 billion yuan, marking a 10.17% increase [1][2][3] Financial Performance - Total assets reached 1,250.116 billion yuan, an increase of 158.873 billion yuan from the previous year, with a growth rate of 14.56% [1][2] - Total deposits amounted to 885.859 billion yuan, up by 105.438 billion yuan, reflecting a growth of 13.51% [1][2] - Total loans increased to 742.568 billion yuan, with a growth of 116.826 billion yuan, representing an 18.67% increase [1][2] - The bank's non-performing loan ratio decreased to 0.66%, marking a nine-year decline [1][2] Strategic Focus - Chengdu Bank emphasizes a strategy of "stabilizing deposits and efficient assets," which has led to significant market advantages [2] - The bank has successfully integrated into major regional economic strategies, enhancing its financial service capabilities [4][5] Risk Management - The bank maintains a high-quality risk control framework, with a non-performing loan coverage ratio of 479%, indicating strong risk resistance [2][3] Growth in Specific Areas - Chengdu Bank ranked second in the province for new deposits and first for new loans in 2024, showcasing its competitive position [2] - The bank's personal deposit growth has reached 5.6 times the level when it first proposed a "large retail" transformation in 2018 [2] Future Outlook - The bank aims to continue enhancing its development quality and efficiency, contributing to China's modernization efforts [6]

Core Viewpoint - The 8th Digital China Construction Summit focuses on "Innovation-Driven Digital Transformation and Intelligent Leadership for High-Quality Development," showcasing the integration of digital technology with economic and social development [1] Group 1: Event Overview - The summit gathered numerous guests from various sectors to explore new paths for the deep integration of digital technology and the economy [1] - The event highlighted the latest achievements in digital technology, data elements, and digital finance [1] Group 2: Central Meteorological Station and DCE Collaboration - The "Central Meteorological Station-DCE Temperature Index" was jointly developed by the Central Meteorological Station and the Dalian Commodity Exchange (DCE) since 2009, with upgrades made to coverage areas, data rules, and optimization algorithms [1] - The index includes daily average temperature (DAT), monthly cumulative average temperature (CAT), cooling degree days (CDD), and heating degree days (HDD) for 22 major cities in China [1] Group 3: Market Applications and Impact - Since 2022, nine weather risk management projects linked to the "Central Meteorological Station-DCE Temperature Index" have been implemented, covering various agricultural sectors [2] - These projects have provided risk coverage of over 4.1 million yuan for more than 6,800 acres of crops and 700,000 yuan for 330 acres of aquatic products [2] - The "Central Meteorological Station-DCE Temperature Index" project was selected as a typical case by the China Meteorological Administration and the National Data Bureau in 2024 [2]

Core Viewpoint - Zhongqi Yunlian Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, marking its second attempt after an initial submission in October 2023. The company focuses on supply chain financial services and has experienced growth in recent years, although it faces significant cash flow challenges [1][2][24]. Company Overview - Zhongqi Yunlian is an independent digital financial platform established in May 2015, focusing on rights confirmation and factoring services. It serves core enterprises, chain enterprises, and financial institutions [2][6]. - The company is headquartered in Tianjin and has undergone multiple changes in its shareholding structure, becoming a joint-stock company in September 2023. It currently has no controlling shareholder [7][8]. Business Model and Services - The company operates three main business segments: rights confirmation and factoring, scenario digital business, and other ecological businesses. The rights confirmation and factoring segment is the primary source of revenue, accounting for over 90% of total income [11][14]. - The user base of the Yunlian platform has grown significantly, with 230,400 users in 2022, 372,900 in 2023, and a projected 556,600 by the end of 2024 [9]. Financial Performance - Revenue for the years 2022, 2023, and 2024 is reported at RMB 652 million, RMB 879 million, and RMB 991 million, respectively. The net profit for the same years is RMB 45.7 million, RMB 151.9 million, and RMB 157.5 million [17][18]. - The gross profit margin has improved from 87.7% in 2022 to 95.9% in 2024, primarily due to a reduction in factoring service scale and increased operational efficiency [19]. Cash Flow Situation - The company experienced a significant cash outflow of over RMB 1.3 billion in 2022, with cash and cash equivalents projected to be only RMB 120 million by the end of 2024. This situation raises concerns about the company's ability to sustain operations [20][21][24]. Industry Landscape - The demand for supply chain financial services is high, particularly for small and micro enterprises facing challenges in obtaining financing due to lack of collateral and low credit ratings. Zhongqi Yunlian aims to alleviate these issues through its digital financial services [22]. - The market for digital financial platforms in China is expected to grow significantly, with cumulative financing amounts projected to reach RMB 169.7 trillion by 2024, growing at a compound annual growth rate (CAGR) of 11.9% from 2020 to 2024 [22][23].