Core Viewpoint - Guangdong Province will issue 2.5 billion RMB offshore local government bonds in Macau, marking the fifth consecutive year of bond issuance since 2021, with a focus on supporting the 15th National Games and promoting financial cooperation in the Greater Bay Area [2][3] Group 1 - The issuance includes special bonds for the National Games and blue bonds, aimed at enhancing Macau's bond market and supporting sustainable development [2] - The Financial Management Bureau of Macau welcomes this issuance, highlighting the central and Guangdong government's support for Macau's financial market development [2] - Over the past five years, Guangdong's continuous bond issuance has provided a stable project source for Macau's bond market, fostering local financial talent and improving market mechanisms [2] Group 2 - The new bond varieties will enrich the structure of Macau's bond market and enhance market vitality [3] - The diversification of bonds issued by Guangdong is expected to attract more sovereign nations, international organizations, and multinational companies to issue RMB bonds in Macau [3] - This initiative supports Macau's goal of becoming an offshore RMB bond issuance center and a platform for Sino-Portuguese financial cooperation, contributing to the national financial opening strategy [3]

ESG并非阶段性工作，而是成长和深化的旅程 在此背景下，全球首部ESG国际标准——ISOIWA48《实施环境、社会和治理原则框架》，已于2024年11月14日 (COP29，阿塞拜疆联合国气候大会期间)正式发布。 ISO ESG IWA48提供了"One-ISO"ESG的管理标准，包括管理框架、术语、原则、指标体系、报告要求、合格评定与 合规管理，以及持续改进过程要求。郭玥婷特别强调，"One-ISO"ESG框架并不是一份新的ESG报告要求标准，而是 旨在补充现有的自愿和监管报告框架并与之互相协作，以促进ESG原则和方法的全球协调一致。 8月16日，由南方财经全媒体集团指导，21世纪经济报道联合东方证券主办、上海环境能源交易所战略支持的第三届 21世纪"活力.ESG"创新论坛在上海隆重举办。 本次论坛积极践行绿色低碳理念，采用绿色办会方式，并向中诚信认证(深圳)有限公司申请了碳中和第三方核查。中 诚信认证副总裁郭玥婷在论坛现场为本次活动授予了碳中和声明。 目前，ESG信息披露和评价评级受到社会各界的广泛关注。作为权威的第三方认证服务机构，中诚信认证在ESG标准 研制、企业实践及国际合作领域经验丰富。其副总裁郭 ...

中国工商银行新加坡分行近日成功发行符合《多边可持续金融共同分类目录》（M-CGT）的绿色债 券，并在新加坡交易所举行上市仪式。中国驻新加坡大使馆临时代办朱憬、工行新加坡分行行长杨雨、 新加坡交易所高级副总裁保德胜分别为债券上市仪式致辞。新加坡金管局金融市场发展司司长林靖凯现 场见证债券上市，债券发行方和合作金融机构代表等50余人参加上市仪式。 本次债券是工行新加坡分行为纪念中新建交35周年所特别发行，两只债券分别募集35亿元人民币和3.5 亿新元，承销商主要来自中新两国。工行新加坡分行在本地率先引入中国、新加坡、欧洲三方共同编制 的《多边可持续金融共同分类目录》（M-CGT）对债券进行认证。本次债券发行受到市场热烈欢迎， 银行、基金、资管和保险等各类投资人踊跃认购，体现了全球市场对可持续金融概念债务工具的认可和 支持。 债券发行人工行新加坡分行成立于1993年，是工商银行在境外设立的第一家营业性机构，持有新加坡金 融管理局颁发的特许全面银行牌照，同时也是本地唯一的人民币清算行，年清算量排名大中华区以外第 一。据介绍，该行是工商银行总行指定的境外筹资中心之一，包括本次发行在内，该行三年来已累计在 新加坡发行6只 ...

Core Insights - The report highlights the significant growth of China's sustainable debt market, with a total issuance of GSS+ bonds reaching 4 trillion RMB (approximately 555.5 billion USD) by the end of 2024, positioning it among the top four global markets [1] - Green bonds are particularly strong, ranking third globally in issuance for 2024, while social bonds saw a remarkable year-on-year increase of 316%, and the sustainable linked bonds market became the second largest globally [1][2] - The report emphasizes the need for China to enhance transparency, align with international best practices, and expand the coverage of sovereign and municipal bonds to further develop its sustainable bond market [2] Market Development - The sustainable bond market in China is entering a critical growth phase, driven by supportive policies and initiatives from the government [1] - The Guangdong-Hong Kong-Macao Greater Bay Area has issued nearly 500 billion RMB in GSS+ bonds over the past three years, serving as a vital support for regional economic development [1] Institutional Support - Standard Chartered Bank has played a pivotal role in supporting sustainable finance innovations, exemplified by its assistance to Bright Food Group in issuing an 800 million Euro sustainable development bond, marking the first of its kind in the Asian food industry [2] - The issuance attracted significant market interest, achieving over six times subscription with orders from 162 investor accounts [2] Future Outlook - The sustainable debt market in China is expected to move towards greater standardization, transparency, and internationalization, potentially providing a model for global green finance development [3] - The deep involvement of institutions like Standard Chartered is anticipated to further integrate China's sustainable finance with international markets [3]

Core Insights - The article discusses the increasing importance of sustainable finance in the banking industry, driven by climate change and social responsibility concerns [1][2] - Deutsche Bank views sustainability as a core mission, integrating it into their business strategy to meet regulatory requirements and client expectations [2][4] Group 1: Current Trends in Sustainable Finance - There is a growing demand for sustainable finance solutions as companies recognize the need to incorporate sustainability into their core strategies [3][4] - Regulatory bodies, particularly in Europe, are emphasizing the integration of sustainability principles into daily operations of financial institutions [5][12] - The rise of technology, such as AI and blockchain, is crucial for enhancing data transparency and accountability in sustainable finance [3][14][15] Group 2: Key Drivers of Deutsche Bank's Sustainable Finance Strategy - Deutsche Bank aims to create shareholder value while maintaining sustainability, balancing profit pursuit with responsible practices [4][5] - The bank recognizes that clients are increasingly seeking sustainable solutions and guidance, indicating a shift in market demand [5][6] - Employee expectations also play a role, as staff desire to work for a company with a strong mission and commitment to sustainability [5][18] Group 3: Future Outlook and Opportunities - The demand for sustainable finance and green finance is expected to continue growing, driven by changing consumer preferences and regulatory requirements [3][8] - Companies that integrate sustainability into their business strategies are likely to enhance their profitability and market position [8][17] - The younger generation is increasingly aware of sustainability issues, influencing corporate strategies and consumer behavior [13][16] Group 4: Challenges and Market Dynamics - While the market for sustainable finance is evolving, some companies view sustainability initiatives as a cost burden rather than an opportunity [6][8] - The article highlights the importance of government policies in making sustainable solutions more cost-effective compared to unsustainable options [16] - Despite economic pressures, companies are still focused on sustainability, often integrating it into their business strategies without overtly labeling it as such [17]

Financial Data and Key Metrics Changes - The company reported a net income of $580 million for Q2 2025, which is double the amount reported a year ago and 30% higher than the previous quarter, resulting in a return on equity (ROE) of approximately 21% [16][22][55] - The cost of risk stood at 2.5%, which is 150 basis points lower than the previous year, indicating improved asset quality [16][34] - The cost of funds remained stable this quarter, showing an improvement of 40 basis points year over year, primarily due to a better funding mix [16][38] Business Line Data and Key Metrics Changes - Interbank showed solid momentum in commercial banking, gaining 90 basis points in market share within the mid-sized companies segment [11][30] - The Wealth Management segment through Intelligo delivered strong results, with assets under management growing 14% year over year [13][45] - Interseguro reported significant growth in private annuities and life insurance, with written premiums increasing by 77% year over year [16][48] Market Data and Key Metrics Changes - The Peruvian economy experienced an accumulated growth of 3.1% as of May 2025, driven by increased consumption and private investment projected to grow by 5% this year [8][9] - The Central Bank revised its internal demand forecast for 2025 from 3.5% to 4.4%, indicating strong private consumption and investment [20][19] - Total loans grew 6% year over year, outperforming the system by a multiple of around 3x, resulting in a gain of 30 basis points in total market share [30][52] Company Strategy and Development Direction - The company aims to achieve digital excellence for customers, focusing on becoming the leading digital platform in the country with a comprehensive suite of services [13][14] - There is a strategic focus on strengthening the payment ecosystem with Plin and EasyPay, enhancing transactional volumes and customer engagement [32][40] - The company is investing in technology to support long-term growth, with a focus on resilience, user experience, and advanced analytics [26][72] Management's Comments on Operating Environment and Future Outlook - Management expressed moderate optimism about Peru's growth outlook, despite potential volatility from international contexts and upcoming presidential elections [9][10] - The company expects an improvement in NIM in the second half of the year, driven by a recovery in the consumer loan portfolio [63][64] - The cost of risk is anticipated to remain below guidance, supporting profitability despite lower margins [52][66] Other Important Information - The company reported a 10% growth in retail primary banking customers over the last year, reflecting strengthened primary banking relationships [16][41] - The digital customer base increased, with retail digital customers reaching 83% and commercial digital clients at 74% [43][44] - The company continues to focus on sustainability, with a sustainable loan portfolio reaching $400 million and various initiatives supporting environmental and social goals [53][54] Q&A Session Summary Question: NIM expectations and asset quality trends - Management indicated that NIM is expected to improve in the second half of the year, with a potential close to the target of 5.4% as the consumer portfolio resumes growth [63][64] - The cost of risk is expected to increase slightly as the consumer loan book grows, with guidance around 3% for the year [66] - OpEx growth is anticipated to continue but at a slower rate, aligning more closely with inflation [76][78]

会议指出，发展可持续金融对于推动绿色和包容的经济复苏、实现可持续发展具有重要意义。各方肯定 了G20可持续金融工作组的工作进展，期待继续推进制定转型金融政策框架、促进发展中国家绿色融资 等重点工作，并落实《G20可持续金融路线图》。 【纠错】 【责任编辑:刘睿祎】 会议认为，当前全球经济面临疫情反弹、通胀压力上升、地缘局势紧张等多方面挑战，复苏动能放缓。 部分成员关注地缘局势对能源、粮食等的供应和价格的影响。部分成员强调主要发达经济体退出支持性 政策时应稳妥调整、做好沟通，避免产生负面溢出效应。各方同意，G20作为全球经济协调的主要平 台，应维护多边合作，在继续应对疫情等的冲击的同时，采取措施应对全球经济面临的新风险。 各方重申将继续支持低收入国家应对疫情等对经济的冲击。会议欢迎国际货币基金组织（IMF）使用相 关国家自愿转借的特别提款权设立韧性与可持续性信托（RST），期待RST在今年10月全面运作，为有 需要的国家提供长期资金支持。各方支持继续以及时、有序、协调的方式，在个案基础上落实好关于债 务处置的共同框架。各方同意加强以IMF为中心的全球金融安全网，推动按期在2023年12月15日前完成 IMF第1 ...

Report Industry Investment Rating - Not provided in the report Core Viewpoints - Financial technology is revolutionizing the futures industry, impacting trading methods, risk management, service models, and market competition. It offers opportunities such as efficiency improvement, innovation, and risk management optimization but also brings challenges like regulatory issues and new risks [2][14][15] - The futures industry must embrace financial technology, actively transform, and strengthen risk management and regulatory compliance to achieve sustainable development [13][14][15] Summary by Relevant Catalogs Financial Technology in the Futures Industry - Application Status - Financial technology applications in the futures industry include big data, cloud computing, AI, and blockchain, which optimize trading processes, enhance risk management, and improve customer experience [2] - Big data enables comprehensive data collection and analysis for better trading decisions and personalized services [3] - Cloud computing provides flexible computing resources, secure data storage, and cost - effective solutions [3] - AI is used in intelligent trading systems, risk management, and customer service [4] - Blockchain offers transparency, security, and efficiency in trading, settlement, and data sharing [4][5] Financial Technology's Impact on the Futures Industry - AI and algorithm trading have increased trading efficiency, with the global algorithm trading proportion rising from less than 20% to over 50% in 10 years, but also bring new problems [5] - Blockchain technology rebuilds trust and simplifies clearing processes, reducing fraud and operational risks [6] - Cloud computing and big data upgrade infrastructure and empower decision - making, improving customer satisfaction [6] - Financial technology drives business model innovation, including smart investment advisors for retail clients and integrated service platforms for institutional clients, as well as new derivative products [7][9] Financial Technology - Risk Management Opportunities and Challenges - Financial technology provides real - time and multi - dimensional risk management capabilities, such as AI - based risk analysis and blockchain - based traceability [9] - Quantified hedging strategies can be refined with financial technology, but algorithmic trading may cause market volatility, and technical dependence poses systemic risks [10] Financial Technology and Futures Industry Integration Directions - Quantum computing may revolutionize quantitative hedging models, but large - scale commercialization is restricted by technology and cost [10] - Sustainable finance and green futures are emerging, with financial technology playing a role in carbon management and green project traceability [11] Futures Industry Transformation in the Financial Technology Era - The industry faces intensified competition, upgraded customer demands, and prominent compliance risks, making transformation necessary [11][12] - Transformation paths include technology investment, talent cultivation, risk management system reconstruction, regulatory adaptation, and ecological cooperation [13][14] Conclusion - Financial technology is reshaping the futures industry, bringing both opportunities and challenges. All parties need to collaborate to achieve high - quality development [14][15]

第二部分为金融改革篇。主要从国家金融安全、政府引导基金尽职免责机制、金融支持低空经济发展、 供应链金融、金融赋能制造业发展等角度，探讨了政府引导基金尽职免责机制建设最新进展，金融支持 广东、广州低空经济和制造业高质量发展等发展热点，并提出了相关建议。 中国发展网讯 叶志楷 记者皮泽红报道 2025年8月7日，广州市社会科学院与社会科学文献出版社联合发 布了《广州蓝皮书：广州金融发展报告（2025）》。 金融资本是推动技术创新、促进经济增长的重要力量。在"硬科技"投资时代，推动金融资本集聚提升金 融资源配置效率，是城市推动技术创新、促进产业迭代升级、助力经济高质量发展的战略之举、现实之 需，是催生新产业新业态，培育发展新质生产力新动能，创造新需求拉动经济增长的核心驱动力。2024 年以来，广州积极推进金融强市建设，引导金融资源全面服务科技创新和产业创新，推动金融资本精准 赋能"12218"现代化产业体系，为"硬科技"新赛道注入源源不断的金融"活水"，不断取得新进展、新成 绩、新突破。奋进新征程，广州将把握世界科技发展潮流和产业变革趋势，以"竞"的姿态、"拼"的干 劲，以推进建设"12218"现代化产业体系、培育 ...

Group 1 - The G20 meeting held in Durban focused on global economic conditions, international financial architecture, sustainable finance, financial sector reform, and inclusive finance [1] - The meeting acknowledged the resilience of the global economy but highlighted significant downside risks, including geopolitical tensions, trade fragmentation, high public debt, and climate change [1] - The meeting reaffirmed support for a strong, quota-based, and well-resourced International Monetary Fund (IMF) as the core of the global financial safety net, urging countries to expedite domestic approval processes for the 16th quota review [1] Group 2 - The People's Bank of China (PBOC) is implementing a moderately accommodative monetary policy to support economic growth and financial market stability [2] - China is committed to maintaining multilateralism and promoting a fair and open international economic and trade order [2] - The PBOC, as a co-chair of the G20 Sustainable Finance Working Group, aims to drive positive outcomes in sustainable finance initiatives this year [2]