Core Viewpoint - The development of a strong financial nation in China is deeply rooted in a distinctive financial culture that serves as both the spiritual core of the industry and the value foundation for financial services in the context of Chinese modernization [1] Group 1: Financial Culture and Development Strategy - The company emphasizes the integration of "义利相生" (mutual benefit) into its business strategy, aligning its operations with national strategic goals through targeted investments in technology, green finance, and digital finance [2] - The company has successfully launched the first national technology property ABS project, raising 266 million yuan for 32 high-tech enterprises, supporting 88 technology property transactions [2] - In green finance, the company issued an 800 million yuan green ABS, which is expected to reduce carbon emissions by 501.95 tons annually [2] Group 2: Compliance and Trust - The company prioritizes integrity as a foundational principle, embedding "守信如金" (trustworthiness) into governance, customer service, and operations, thereby establishing a trust-centered financial service system [4] - A customer suitability management system has been implemented to ensure objective investment advice and rigorous risk assessment for products, leading to a decrease in customer complaints and an increase in satisfaction [4][5] - The company has developed an intelligent management system that automates permissions and integrates risk monitoring, enhancing operational compliance and risk management [5] Group 3: Inclusive Finance and Smart Services - The company is committed to "金融为民" (finance for the people), enhancing financial accessibility through intelligent services and investor education [6] - The launch of the "智选ETF" service has increased ETF trading penetration from 3.5% to 4.2%, significantly lowering investment barriers for residents [6][7] - The company has also issued a 300 million yuan bond linked to low-carbon transition goals, supporting small and micro enterprises while achieving a record low interest rate for similar issuances in the region [7] Group 4: Risk Management - The company adopts a comprehensive risk management approach, emphasizing respect for market rules and legal compliance, with a focus on building a "全面、全程、全员" (comprehensive, full-process, and all-staff) risk management system [8] - The proprietary "星河" big data risk control platform enables real-time monitoring and management across all business lines, enhancing early identification and intervention in risk events [8] - The integration of risk control mechanisms into business processes through digital tools has improved risk response speed and efficiency [8] Group 5: Cultural Integration and Political Direction - The company integrates party leadership into its cultural and operational framework, ensuring alignment with political direction and public interests [9] - The company promotes a "党建+业务" (party building + business) model, leveraging the role of party members in key projects such as AI applications and digital transformation [9] - The commitment to a distinctive financial culture is seen as essential for high-quality development, with ongoing efforts to support technological independence, green transformation, and inclusive finance [9]

舟山长宏国际船舶修造有限公司（以下简称"长宏国际"）作为同时拥有高新技术企业、科技型中小企业 双重资质的省市级重点船舶制造主体，近年来在产业升级方面面临着大量的资金需求与结算需求。 ·广告 华夏银行舟山分行作为华夏银行杭州分行的二级分行，依托针对船舶建造全流程特点构建的全链条服务 体系，在浙江省内率先为长宏国际开立保函，累计提供4亿元保函专项授信。随着长宏国际订单规模的 持续扩大，华夏银行舟山分行动态提升保函额度，同步配套贸易融资业务，通过开立国际信用证，精准 满足长宏国际海外采购的资金结算与供应链需求。在汇率风险管理方面，为以长宏国际为代表的船舶企 业量身定制人民币外汇掉期业务，帮助企业成功锁定汇率成本，规避跨境经营风险，实现财务稳定与资 金高效运作。 金融活水的精准滴灌，推动企业在绿色船舶领域结出硕果。2025年5月28日，长宏国际为地中海航运建 造的11500箱LNG双燃料集装箱船正式交付，船舶总长335米、型宽45.6米，是浙江省建造规格领先的万 箱级双燃料集装箱船，标志着浙江绿色船舶制造水平迈上新台阶。 华夏银行杭州分行负责人表示，未来将持续深化科技金融与绿色金融的融合创新，聚焦海洋产业链高端 化、 ...

"在客户服务中，以适当性管理守护投资者权益。"陈海东表示，公司运用"鑫财富"管理平台建立了有效 的客户适当性管理体系，确保每一笔投资建议客观审慎、每一个产品风险评级都经过严谨评估。通过全 流程诚信监督机制，华鑫证券客户投诉率持续下降，满意度稳步提升，市场信誉成为公司最珍贵的无形 资产。 在新时代金融强国建设的征程中，中国特色金融文化不仅是行业健康发展的精神内核，更是金融服务中 国式现代化的价值基石。华鑫证券总经理陈海东日前在接受中国证券报记者专访时表示，公司深刻把握 中国特色金融文化的内涵，强化党建引领，以"义利相生、守信如金、敬畏风险、金融为民"为核心，将 文化软实力转化为服务实体经济的硬核动力，通过科技赋能、业务创新与党建引领，构建具有华鑫特色 的高质量发展路径。 ● 本报记者徐昭林倩 坚守"义利相生"服务国家战略展现新作为 华鑫证券始终秉持"计利当计天下利"的格局，将服务国家战略作为业务发展的根本导向，在科技金融、 绿色金融、数字金融等领域精准布局，推动金融资源向关键领域汇聚。 据陈海东介绍，在科技金融领域，公司成功落地全国首单技术产权(技术交易)ABS项目，截至2025年9 月末，该项目已发行3期，累 ...

Core Viewpoint - The development of a distinctive financial culture in China is essential for the healthy growth of the financial industry and serves as a foundational value for modernizing financial services in a Chinese context [1]. Group 1: Financial Strategy and Innovation - The company emphasizes the principle of "benefit and righteousness coexist," aligning its business development with national strategies, particularly in technology finance, green finance, and digital finance [1]. - In technology finance, the company successfully launched the first national technology property ABS project, raising 266 million yuan for 32 high-tech enterprises, supporting 88 technology property projects and 21 technology transaction contracts [1]. - The company issued the first knowledge property ABS in Chongqing with a record low interest rate of 1.96%, significantly reducing financing costs for tech enterprises [2]. Group 2: Green Finance Initiatives - The company acted as the plan manager for a green ABS project worth 800 million yuan, covering solar power, waste treatment, and green transportation, which is expected to reduce CO2 emissions by 501.95 tons annually [2]. - The company also issued the first data asset ABS in the country, raising 13.37 million yuan for nine enterprises, marking a breakthrough in the capitalization of data assets [2]. Group 3: Compliance and Trust - The company integrates "integrity as gold" into its governance, customer service, and operations, establishing a trust-centered financial service system [2]. - A customer suitability management system was developed through the "Xin Wealth" platform, ensuring objective investment advice and rigorous risk assessments [2]. Group 4: Operational Management and Risk Control - The company implemented an intelligent management system that binds employee roles with responsibilities, enhancing permission management and risk monitoring [3]. - A comprehensive risk management system is in place, focusing on real-time monitoring and automated management of operations to ensure compliance and risk mitigation [5]. Group 5: Inclusive Finance and Investor Education - The company launched the "Smart ETF" service channel, increasing ETF trading penetration from 3.5% to 4.2% within a year, significantly lowering investment barriers [4]. - The company issued a 300 million yuan bond linked to low-carbon transformation, supporting small and micro enterprises while achieving a record low interest rate for similar issuances in the Northwest region [4]. - The company conducts over 100 public financial literacy events annually to enhance the financial knowledge of the general public [4]. Group 6: Cultural Integration and Future Directions - The company aims to deepen its cultural foundation, enhancing the political and public nature of financial services, and continues to explore ways to inject more financial vitality into the real economy [6].

播撒"绿色革命"火种，注入金融活力。该行投放12.5亿元贷款，为筑牢我国北方重要生态安全屏障注入 金融活力。在信贷资金和政策性金融工具有力组合下，二连浩特蒙能100万千瓦风储项目高效落地。在 高尔奇绿色矿山修复现场，全国农发行系统首笔0.16亿元绿色矿山建设流动资金贷款的投放，实现了企 业"生态账"与"经济账"深度融合。系统内首创的"金融+生态"绿色矿山修复模式，让"沙地变绿洲"成为 现实。 （来源：内蒙古日报） 转自：内蒙古日报 "十四五"以来，农发行锡林郭勒盟分行紧扣地方战略需求，主动融入地方"十四五"发展规划，投放贷款 37亿元，为地方经济社会发展注入"金融活水"，为内蒙古大地描绘出一幅高质量发展的壮美画卷。 筑牢"大国粮仓"基石，护航粮食安全。作为守护国家粮食安全的金融主力军，该行投放粮油贷款11.5亿 元，精准支持政策性粮食收储体系建设，筑牢粮食安全根基。在锡林浩特市国有农牧场和太仆寺旗宝昌 镇，3.4亿元信贷资金助力国有企业耕地流转、地力提升及规模化生产经营活动；700万元农业科技贷款 培育现代种业"芯片"；0.24亿元信贷资金助力布局战略物资储备体系，实现国家战略资源设施基地破 冰，织就立体化战 ...

Core Insights - The brokerage research sector is experiencing a fundamental shift, moving from traditional roles of "report suppliers" to becoming "decision enablers" with industry insights and capital pricing capabilities [1][5] Demand Restructuring - The continuous decline in commission fees is forcing a profound change in the demand side of brokerage research, with total commission fees dropping to 4.474 billion yuan in the first half of 2025, a year-on-year decrease of 33.98% and a 54.05% drop compared to the same period in 2020 [1] - Despite the decline in commissions, the number of analysts is increasing, reaching 6,185 by December 24, 2025, an increase of nearly 470 analysts or over 8% from the end of 2024, and nearly 30% from the end of 2023 [1][2] Capability Upgrade - Research value is shifting from "assisting trading" to "professional empowerment," leading to a revolution in report production from quantity to depth of understanding [3] - Research teams are developing multi-layered, systematic tracking frameworks to enhance insight sustainability, particularly in rapidly evolving sectors like AI [3] - Digital tools are being integrated into the research value chain, improving efficiency and enabling dynamic, interactive, and customized research services [3] Talent Development - The focus of research resources is increasingly directed towards key areas aligned with national strategies and industrial upgrades, with nearly 3,300 A-share companies covered in individual reports, particularly in hard technology and high-end manufacturing sectors [4] - Coverage of companies on the Beijing Stock Exchange is expanding, with over 150 companies covered and a nearly 26% increase in related research reports [4] Role Evolution - Analysts are evolving from "report suppliers" to "strategic partners," integrating into client decision-making processes and providing tailored solutions [5] - This evolution requires analysts to possess diverse competencies, including market pricing perspectives, deep understanding of client needs, and the ability to navigate macro policy directions [5] - Research outputs are shifting from traditional reports to building "trust assets" through long-term professional relationships, emphasizing the importance of foresight and timely tracking [5][6] Service Model Transformation - The new service model relies heavily on top-tier human resources and time investment, with significant resources needed to maintain relationships with key institutional clients or industry think tanks [6] - The future of the analyst workforce will be closely linked to "capability building," with analysts becoming key nodes connecting industry and capital, as well as knowledge and decision-making [6]

12月24日，济南市政府召开新闻发布会，系统总结了"十四五"期间该市金融业发展成就。济南市委金融 办发布数据显示，五年来济南金融业综合实力显著增强，多项指标稳居全省首位，其中以全国首个科创 金融改革试验区建设为牵引的"五篇大文章"成效突出，为强省会建设注入强劲金融动能。 综合实力显著提升 金融支柱地位凸显 "十四五"时期，济南金融业主要指标实现量质齐升。金融业增加值保持稳健增长，2024年总量达1097.5 亿元，成为拉动经济增长的重要引擎。截至2024年末，本外币存、贷款余额双双突破3万亿元，分别较 2020年末增长42.2%和52.7%。2024年新增直接融资额3761.33亿元，较2020年增长65.7%。信贷资产质量 持续优化，2024年末不良贷款率降至0.61%，居全省首位。 2025年以来，金融业发展势头不减。前三季度金融业增加值完成1030.3亿元，同比增长5.8%；截至11月 末，全济南市本外币存、贷款余额分别达到3.15万亿元和3.46万亿元；前11个月保费收入842.3亿元，同 比增长10.1%；新增直接融资3573.7亿元。主要金融指标继续领跑全省。 强有力的货币政策为济南发展营造了良好 ...

2026年即将到来，在监管要求下ESG 强制信息披露元年大幕正在拉开，而A股银行ESG强信披名单也迎来了扩容。 依据证监会指导沪深北交易所《上市公司自律监管指引——可持续发展报告》，ESG强信披阵营锁定上证180、深证100、科创50、创业板指成分股及境内 外同步上市企业。伴随上证180等指数调整，成都银行、沪农商行两家上市银行新晋入列。 | 银行名称 | 2024年碳排放 总量同比增速 | 范围1同比增速 | 范围2同比增速 | | --- | --- | --- | --- | | 北京银行 | 13.88% | 14.10% | 13.86% | | 南京银行 | 13.23% | -5.25% | 14.49% | | 青岛银行 | 11.92% | 7.86% | 12.05% | | 重庆银行 | 10.96% | 41.05% | 9.23% | | 杭州银行 | 10.02% | 4.04% | 10.34% | | 交通银行 | 9.76% | -2.78% | 10.37% | | 中信银行 | 5.31% | -12.05% | 5.99% | | 招商银行 | 3.10% | 81.9 ...

Core Viewpoint - The financial sector in Jinan has significantly improved in both scale and quality during the "14th Five-Year Plan" period, becoming a crucial engine for regional economic growth, with multiple core financial indicators leading the province [2][3]. Group 1: Financial Performance - The financial industry's added value in Jinan has consistently outpaced GDP growth, with a maximum lead of 3.8 percentage points, and is projected to exceed 109.75 billion yuan in 2024 [2]. - By the end of 2024, the balance of both domestic and foreign currency deposits and loans is expected to surpass 3 trillion yuan, reflecting a growth of 42.2% and 52.7% respectively since the end of 2020, with annual growth rates of 9.2% and 11.2% [2]. - Direct financing in Jinan has seen a rapid increase, with new direct financing amounting to 376.13 billion yuan in 2024, a 65.7% increase from 2020, and an annual growth rate of 13.5% [2]. Group 2: Financial Structure and Quality - The insurance sector's performance has improved, with premium income reaching 81.2 billion yuan in 2024, a 29.3% increase from 2020 [2]. - The non-performing loan ratio is projected to drop to 0.61% by the end of 2024, a decrease of 0.53 percentage points from the end of 2020, indicating strong asset quality [2]. Group 3: Financial Resource Allocation - Jinan has focused on directing financial resources towards key sectors, with significant growth in loans for technology innovation (12.46%), green loans (47.5%), and inclusive small micro loans (12.9%) as of Q3 2025 [4]. - The establishment of nearly 900 financial institutions in Jinan, including local entities like Qilu Bank, has contributed to regional financial stability [4]. Group 4: Capital Market Development - Since the beginning of the "14th Five-Year Plan," Jinan has added 19 new listed companies and 10 new companies on the New Third Board, leading the province in both categories [5]. - The city has developed a robust pipeline for potential public companies, with 520 companies registered for support in accessing capital markets [5]. Group 5: Future Outlook - Jinan's financial sector aims to continue deepening financial reforms and innovations, enhancing financial support in key areas, and leveraging capital market functions to bolster the construction of a modernized provincial capital [6].

随着国家正式启动"十五五"规划的宏伟蓝图，可持续发展正从一项关键战略，升级为衡量未来经济高质量发展的重要标尺。在此承前启后的 关键时刻，2025年成为中国可持续发展进程从"理念构建"迈向"实践深化"的关键年份。 企业非财务信息披露正经历一场深刻的"范式迁移"。 国务院国资委、证监会及沪深北交易所密集出台《央企ESG专项行动指南(2025)》、《上市公司信息披露管理办法》、《上市公司自律监管指 引——可持续发展报告（试行）》等相关政策，明确要求将可持续发展纳入公司治理核心，推动信息披露从"可选披露"迈向"规范披露"。 在此新周期下，金融机构作为资源配置的核心，已从理念倡导者转变为关键行动者。银行、保险、资管等机构正将ESG深度融入其战略与业 务流程，通过大力发展绿色金融、创新可持续金融产品、践行负责任投资、强化环境风险管理等一系列努力，精准引导金融活水支持实体经 济绿色低碳转型。 为系统梳理并推广实践，《清华金融评论》正式启动"2025可持续发展典型案例征集"活动，旨在搭建一个高层次的实践交流平台，通过征 集、遴选并展示在绿色金融、社会责任及可持续发展治理等领域的优秀案例，树立行业标杆，促进经验共享，共同助力中 ...