Core Viewpoint - The recent announcement by the China Internet Finance Association highlights compliance issues in supply chain finance, with three banks failing to submit required information, raising concerns about the industry's regulatory progress [1] Group 1: Regulatory Changes - The People's Bank of China and five other departments issued the "Document No. 77" to regulate supply chain finance, aiming to optimize financing for small and medium-sized enterprises (SMEs) and mitigate risks [1] - The new regulations are pushing the industry from "wild growth" to "standardization and transparency" [1][6] Group 2: Reasons for Non-Submission - One bank attributed its failure to submit information to delays in its data system, with updates expected next month [2] - Experts suggest three potential reasons for the non-submission: compliance adjustments and technical separation, strategic reassessment of business models, and pressures from data governance and system upgrades [3] Group 3: Industry Restructuring - The "Document No. 77" imposes strict requirements on banks regarding electronic receivables, emphasizing the need for platforms to return to their role as "information intermediaries" [4] - Nine types of prohibited activities have been identified, including issuing receivables without real trade backgrounds and extending payment terms without justification [4] Group 4: Future Development Trends - The industry is expected to experience a "pain period" in the short term, with a trend towards differentiation and consolidation, as compliance costs rise and weaker platforms exit the market [6] - Long-term trends indicate a shift towards services based on real trade backgrounds, integration of advanced technologies like blockchain and AI, and the establishment of an open ecosystem for supply chain finance [6]

在国内消费升级纵深推进、跨境贸易双向扩容的行业大背景下，顺丰核心业务板块延续稳健增长态势， 其中服务升级与跨境供应链布局的战略价值持续兑现，成为拉动业绩增长的核心双引擎，也为物流行业 高质量发展提供了可借鉴的实践样本。 12月19日晚间，顺丰控股（002352.SZ，06936.HK）发布11月份经营简报。数据显示，顺丰11月合计营 收271.73亿元，同比增长7.85%。其中，速运物流业务营收206.6亿元，同比增长9.88%；业务量15.34亿 票，同比增长20.13%；单票收入13.47元；供应链及国际业务营收65.13亿元，同比增长1.86%。在启 动"增益计划"全面梳理调优件量结构后，顺丰已经连续3个月实现单票价格同比降幅收窄。 服务升级 引领行业品质服务 在我国对外开放水平持续提升、"引进来"与"走出去"双向发力的跨境贸易格局下，中企出海步伐不断加 快，海外商品进口需求持续增长，这既为跨境物流行业带来了广阔市场空间，也对其服务效率、稳定性 与覆盖面提出了更高要求。顺丰精准把握这一市场机遇，持续推进国际化服务网络布局，并不断完善服 务矩阵。 继2025年11月密集发布"中越智达""中印速航""宜链通 ...

Core Viewpoint - The Guangdong-Hong Kong-Macao Greater Bay Area is leveraging technological innovation as a core driver for high-quality development, with Hengfeng Bank playing a crucial role in empowering technology enterprises through financial support and mechanisms [1]. Group 1: Mechanism Establishment - Hengfeng Bank has built a "dare to lend and willing to lend" mechanism to address the financing gap between banks and technology enterprises, which are characterized by high technology, high risk, high returns, and light assets [2]. - The bank has implemented a due diligence exemption mechanism, allowing staff to avoid accountability if they follow compliance procedures during the lending process, thus encouraging lending activities [2]. - As of November 2025, Hengfeng Bank's technology loan balance is expected to grow by approximately 10% compared to the beginning of the year, marking a significant shift in credit structure [3]. Group 2: Professional Capability - Hengfeng Bank emphasizes the importance of understanding industry trends and enterprise potential, moving away from traditional asset-based lending to a focus on technology and future prospects [5]. - The bank's approach includes precise assessment of credit needs and establishing trust through core assets like patents, which serve as collateral [5]. - The bank has developed a supply chain financing model to support upstream and downstream enterprises, addressing the funding pressures faced by small and medium-sized enterprises in the technology sector [6]. Group 3: Comprehensive Financial Services - Hengfeng Bank aims to create a "financing + intelligence" comprehensive financial service system, focusing on the full lifecycle needs of technology enterprises [8]. - The bank is integrating resources from investment banking, private equity, and asset management to facilitate mergers and acquisitions, enhancing cross-border services for enterprises [9]. - Future plans include deepening efforts in areas such as investment-loan linkage, asset securitization, and exploring financial instruments closely related to capital markets, aiming to create a more efficient and intelligent integrated financial service system [9].

作为全球首个全品类合约式B2B线缆在线交易平台，电缆宝的破局逻辑直指核心：让每一笔真实交易都 成为信用背书，让每一组有效数据都转化为资本。平台构建了覆盖智能采购、在线竞价、电子签约、担 保支付、仓网协同、发货验收的全链路数字化交易生态，所有交易行为都被精准记录、全程可溯，形成 了金融机构认可的"信用数据库"。 在风电光伏新能源爆发、特高压建设提速的浪潮中，线缆产业正迎来年增速20%+的黄金增长期。然 而，这个万亿级市场却长期被"大市场、小企业"的格局所困。而电缆宝的出现，正以"交易数据"为钥 匙，打开了"信用资产"的大门，为行业带来破局之道。中小线缆企业的融资困境，本质上是"信用孤 岛"与"数据割裂"的产物。 传统融资模式中，银行等金融机构依赖土地、设备等有形抵押物评估信用，而线缆企业的核心资产多沉 淀在订单、交易流水等无形数据中，这些真实的经营痕迹因缺乏标准化记录和验证渠道，无法转化为有 效的信用凭证。加之行业中间环节繁多、交易流程不透明，企业即便手握订单，也常因"缺信用、缺证 明"陷入"钱货两悬"的困境——上游要预付款拿货，下游回款周期长达数月，资金周转压力让不少企业 错失市场机遇。 在这里，中小企业无需 ...

近日，日照银行进一步丰富供应链金融应用场景，与鲁商集团开展合作，作为首家直连"鲁商信"平台的 金融机构，为鲁商旗下银座电器、银座配送等上游多级供应商，累计提供应收账款融资1.2亿元，赋能 商业产业链高质量发展。 "鲁商信"是鲁商集团基于核心企业应付账款开具的应收账款电子凭证。日照银行深度融入鲁商集团供应 链体系，精准对接商业产业链的支付结算及融资需求，与鲁商产融旗下易通保理协同联动，实现日照银 行"黄海之链"供应链金融服务平台与"鲁商信"平台直连互通，是首家直连的金融机构。鲁商集团成员企 业向供应商付款时签发"鲁商信"，供应商即可线上直接向日照银行申请融资，全流程线上化操作，高效 实现"小时贷"。日照银行济南分行已率先通过该业务模式，为鲁商集团多家上游供应商提供支付结算和 融资支持，资金周转效率显著提升，精准缓解了上下游中小企业的经营资金压力，为商业产业链稳定运 行和持续发展提供了有力支撑。 目前，日照银行正加快推进与鲁商集团商业产业链的全面深入合作，依托鲁商集团供应链生态积累的订 单、物流、仓储等数据，探索开展"脱核链贷"业务模式，构建多维度准入规则和风控模型，打造鲁商集 团上下游链属企业自动授信业务模式； ...

（来源：甘肃金融） 近年来，浦发银行兰州分行始终坚守金融服务实体经济的初心与使命，深入贯彻落实党中央关于做好金 融"五篇大文章"的部署安排，全面推进总行数智化战略实施。该行立足区域特色，重点布局科技金融、 供应链金融、普惠金融、跨境金融和财资金融"五大赛道"，将供应链金融确立为主赛道，创新推出一系 列精准高效的供应链金融解决方案，有效破解产业链发展难题，显著提升区域经济韧性。通过持续强化 超级产品、超级平台、超级系统的"三超"体系建设，着力打造"浦链通"特色产品，精准打通产业链资金 流转堵点，充分激活上下游企业发展动能，实现金融"活水"对实体经济的精准灌溉，切实擦亮"要链通 找浦发"这一金融服务品牌。 党建引领发展 推动供应链金融"全面拓" 浦发银行兰州分行党委深入推进党建与中心工作融合，将"供应链金融"纳入2025年度"党建促发展"重点 项目，组建"浦链铁军"党员突击队。该突击队以"铁人先锋 智绘兰图"党建品牌为引领，开展"浦链铁军· 强链攻坚"专项活动，持续推动经营机构"一行六链"和客户经理"一人一链"工作机制，实现供应链金 融"人人懂、个个会、全员做"，促进供应链金融实现跨越式发展。 打通资源整合"主动 ...

引言:跨境贸易融资困境的行业现状 在全球经济一体化深入发展的背景下,进出口贸易企业面临着日益复杂的融资挑战。据统计,超过60%的 中小型进出口企业在资金周转、信用评估、担保要求等方面存在困难。传统的融资模式往往无法满足跨 境贸易中资金需求时效性强、周转频率高、风险评估复杂的特点,导致企业在全球供应链中的竞争力受 限。 进出口贸易融资的难点分析 资金周转压力 跨境贸易企业在货物运输周期、清关等待时间、库存资金占用等环节面临长期资金锁定问题。特别是在 大宗商品进口、季节性商品出口等场景下,企业需要承担高额的资金成本和流动性风险。 信用评估复杂性 跨境信用体系的不统一使得传统金融机构难以准确评估企业的真实经营状况和偿付能力。国际贸易中的 汇率波动、政策变化、供应链不确定性进一步增加了风险评估的难度。 担保与要求严格 传统融资渠道要求的实物、第三方担保等条件对于轻资产运营的贸易企业构成较高门槛,限制了融资可 获得性。 综合供应链服务商的融资支持解决方案 一站式跨境物流金融服务 专业的供应链服务商通过整合国际货运、报关清关、仓储加工等业务环节,为企业提供全链路的资金流 优化方案。这种模式下,服务商基于对货物流转、通关效 ...

把深山里的土特产擦亮成"金字招牌"，为忙碌的生产线注入"强心剂"……在广袤的农村大地上，我 国银行业的金融服务正渗透进经济生产生活的各个环节。 近日召开的中央经济工作会议提出，统筹推进以县城为重要载体的城镇化建设和乡村全面振兴，推 动县域经济高质量发展。持续巩固拓展脱贫攻坚成果，把常态化帮扶纳入乡村振兴战略统筹实施，守牢 不发生规模性返贫致贫底线。 2025年作为巩固拓展脱贫攻坚成果同乡村振兴有效衔接5年过渡期的最后一年，乡村全面振兴扎实 推进、农业农村现代化迈出坚实步伐。展望2026年，专家认为，银行业支持乡村振兴仍有较大空间。 乡村振兴信贷投放力度持续加大 "中央经济工作会议对乡村全面振兴工作的部署，核心要义在于'系统统筹'与'底线坚守'。"苏商银 行特约研究员高政扬在接受《金融时报》记者采访时表示，从实践层面看，政策要求在推进产业、要 素、生态等一体化进程中，兼顾增长质效与底线守护，走出一条兼具包容性与可持续性的高质量乡村振 兴路径。 与此同时，需要看到的是，在乡村振兴领域，产业链协同融资机制尚不完善。"面对农业产业链上 下游的资金堵点，跨行业、跨区域的协同融资渠道尚未完全打通。此外，中长期资金支持力度 ...

Market Overview - After the Federal Reserve's interest rate cut, market sentiment has turned cautious due to potential rate hikes from the Bank of Japan[1] - Major A-share indices opened high but closed lower: Shanghai Composite Index down 0.70%, Shenzhen Component down 1.27%, and ChiNext down 1.41%[1] - Total trading volume in both markets reached 1.89 trillion yuan, a slight increase from the previous trading day, but over 4,300 stocks declined, indicating weakened buying momentum[1] Sector Performance - Structural opportunities are concentrated in two main lines: - The renewable energy sector, particularly wind and nuclear power, shows sustained investment value due to policy catalysts[1] - Semiconductor equipment-related ETFs have seen net inflows this week, indicating a potential rebound in the oversold tech sector[1] - The real estate, retail, and cultural media sectors led the decline, while hard tech themes like nuclear fusion received increased funding[1] Economic Outlook - The World Bank has raised its 2025 economic growth forecast for China by 0.4 percentage points, citing more proactive fiscal policies and a diversified export market as key factors[7] - The focus on domestic demand is expected to support resilient and sustainable growth in the coming years[7] Fund Dynamics - In the recent Hong Kong stock market adjustment, public funds are accelerating their investments, with several funds announcing early closures for fundraising[13] - A-share assets have seen increased allocations from fund advisors, indicating a strategic positioning for the upcoming year-end market trends[14]

近日，由太极股份承建的"焦煤在线"新一代智能交易平台正式上线运行，标志着全国焦煤行业在数智化 转型进程中迈出关键一步。该平台聚焦自主可控技术体系与数据服务能力建设，通过技术重构与系统升 级，为传统能源交易注入新动能。 作为山西焦煤焦炭国际交易中心股份有限公司的数字化服务平台，"焦煤在线"已形成交易、物流、指 数、支付结算、金融"五维一体"的数智化服务体系。此次升级重点强化了数据服务能力，实现从企业注 册、交易竞价到合同履约的全流程一体化覆盖，有效打破了信息孤岛，为产业链上下游协同提供坚实数 据支撑。 作为山西焦煤焦炭国际交易中心股份有限公司的数字化服务平台，"焦煤在线"已形成交易、物流、指 数、支付结算、金融"五维一体"的数智化服务体系。此次升级重点强化了数据服务能力，实现从企业注 册、交易竞价到合同履约的全流程一体化覆盖，有效打破了信息孤岛，为产业链上下游协同提供坚实数 据支撑。 在安全体系建设方面，平台严格遵循国家网络安全等级保护要求，构建覆盖全链路、多层级的立体化信 息安全防御体系。通过应用自主可控的加密算法对数据传输与存储等关键环节进行强化保护，并对敏感 信息实施字段级、文件级多重防护，实现所有关键操 ...