Core Viewpoint - Financial institutions are actively entering the market to enhance equity allocation, stabilize capital markets, and promote value investment, thereby contributing to the healthy and orderly development of the capital market [1] Group 1: High-Quality Development - Southern Fund has implemented the central financial work meeting's spirit, focusing on serving the real economy through five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance [2] - The company emphasizes technology finance as a core strategy for modern industrial system construction, enhancing research and asset allocation in strategic emerging industries like semiconductors, artificial intelligence, and biomedicine [2] Group 2: Green Finance and ESG Practices - Southern Fund actively practices ESG investment principles, covering over 5,100 A-share companies and 7,100 bond issuers in its ESG rating system, significantly impacting ESG performance and risk assessment [3] - The company has developed a comprehensive carbon emission database for all A-share listed companies and received two awards from UNPRI for its ESG practices [3] Group 3: Inclusive Finance and Digital Transformation - The company adheres to the "finance for the people" philosophy, enhancing investor experience through innovative platforms like "Sinan Investment Advisory" for comprehensive asset allocation solutions [3] - Southern Fund prioritizes financial technology, implementing a clear digital transformation strategy to integrate finance with digital technology, thereby improving service efficiency [4] Group 4: Value Creation and Market Stability - The introduction of the new "National Nine Articles" has improved the capital market's foundational systems and enhanced institutional investor stability [5] - Southern Fund supports the implementation of policies aimed at increasing long-term capital market participation, which is crucial for optimizing investor structure and enhancing market resilience [5] Group 5: Regulatory Framework and Future Outlook - The China Securities Regulatory Commission released an action plan for promoting high-quality development in the public fund industry, focusing on optimizing operational models and enhancing equity investment [6] - Southern Fund aims to adhere to its core asset management principles while exploring ways to support modern industrial systems and contribute to common prosperity [6]

Market Overview - On June 11, the A-share market experienced a rebound, with the ChiNext Index leading the gains. The Shanghai Composite Index closed at 3402.32, up by 0.52%, while the Shenzhen Component Index rose by 0.83% to 10246.02, and the ChiNext Index increased by 1.21% to 2061.87. The total trading volume in the Shanghai and Shenzhen markets was 1.26 trillion yuan, a decrease of 159.9 billion yuan compared to the previous trading day [2][3]. Sector Performance - The sectors that saw the most significant gains included rare earth permanent magnets, gaming, automotive parts, and securities. Conversely, sectors that experienced declines included controllable nuclear fusion, biological vaccines, communication services, and beverage manufacturing [2]. Automotive Industry Insights - According to the China Association of Automobile Manufacturers, in May 2025, China's automotive production and sales reached 2.649 million and 2.686 million units, respectively, with year-on-year growth of 11.6% and 11.2%. For the first five months of 2025, production and sales totaled 12.826 million and 12.748 million units, reflecting year-on-year increases of 12.7% and 10.9%. Notably, new energy vehicles accounted for 48.7% of total new car sales in May, with production and sales of 1.27 million and 1.307 million units, respectively, marking year-on-year growth of 35% and 36.9% [6]. International Market Overview - In the U.S. stock market on June 11, the three major indices saw slight declines. The Dow Jones Industrial Average closed at 42865.77, down by 1.10 points, while the S&P 500 fell by 16.57 points to 6022.24, a decrease of 0.27%. The Nasdaq Composite Index dropped by 99.11 points to 19615.88, down by 0.50%. In Europe, the FTSE 100 index rose by 11.27 points to 8864.35, while the CAC 40 index fell by 28.43 points to 7775.90, and the DAX index decreased by 38.66 points to 23948.90 [4][5]. Oil Market Update - On June 11, international oil prices saw a significant increase. The price of light crude oil futures for July delivery rose by $3.17 to $68.15 per barrel, a gain of 4.88%. Meanwhile, the August delivery of Brent crude oil futures increased by $2.90 to $69.77 per barrel, up by 4.34% [4][5]. U.S. Economic Indicators - The U.S. Consumer Price Index (CPI) for May showed a year-on-year increase of 2.4%, with a month-on-month rise of 0.1%. The core CPI, excluding volatile food and energy prices, also increased by 0.1% month-on-month and 2.8% year-on-year [7][8]. U.S.-China Trade Relations - The first meeting of the U.S.-China economic and trade consultation mechanism took place in London, where both sides engaged in in-depth discussions on trade issues. They reached a consensus on measures to implement the important agreements made during the recent phone call between the two countries' leaders [9][10]. Gaming Industry Developments - The gaming sector is set to benefit from strong policy support, with the Zhejiang provincial government implementing measures to promote international development in the gaming industry. Analysts predict that the revenue from Chinese games going abroad could grow at a compound annual growth rate (CAGR) of over 20%, potentially reaching $32.8 billion by 2025 [11][12].

第一财经每日早间精选热点新闻，点击「听新闻」，一键收听。 【今日推荐】 李成钢：中美就落实两国元首通话共识及日内瓦会谈共识达成框架 中国商务部国际贸易谈判代表兼副部长李成钢10日晚在英国伦敦说，过去两天，中美双方团队进行了深入 交流，就落实两国元首6月5日通话共识以及日内瓦会谈共识达成了框架。 美国洛杉矶市中心225人于10日晚被捕 当地时间6月11日，美国洛杉矶警察局称，洛杉矶市中心10日晚有203人因未能疏散而被捕，17人因违反宵 禁而被捕，另有3人因持有枪支而被捕，1人因使用致命武器袭击一名警察而被捕，还有1人因向洛杉矶警 察局的飞艇发射激光而被捕。警方称，有两名洛杉矶警察局警察受伤。此外，美国芝加哥警方宣布10日在 芝加哥的抗议活动中逮捕了17人。芝加哥警察局表示，其中4人被控重罪，10人面临轻罪指控。报道称， 对于那些被控重罪的人，拘留听证会定于当日晚些时候举行 美国抗议活动蔓延至纽约，80余名示威者被捕 当地时间6月10日，数千名抗议者聚集在美国纽约曼哈顿下城，反对总统特朗普推行的针对非法移民打压 政策。当天，共有80余人被逮捕。 【观国内】 这10所新大学拟获批，宁波东方理工大学、大湾区大学来了 ...

Group 1 - The People's Bank of Shanghai and nine other departments issued a notice to explore financial support models for ecological and environmental projects in Shanghai, proposing 20 specific measures to enhance green finance capabilities and product innovation [1] - Financial institutions in Shanghai are required to improve their green finance service capabilities, innovate financial products and services, and strengthen the incentive mechanisms for green transformation [1] - The notice emphasizes the importance of environmental information disclosure and carbon accounting for financial institutions and small enterprises in key sectors [1] Group 2 - As of the end of May, insurance companies have executed 15 equity stakes, nearing the total number for the entire previous year, indicating a strong interest in sectors like banking, public utilities, and energy [2] - Insurance funds are recognized as a stabilizing force in the market, with a notable increase in their participation in equity investments this year [2] - The investment focus of insurance funds includes significant stakes in major banks, such as Ping An Life acquiring 10% of Agricultural Bank of China’s H-shares [2] Group 3 - Two branches of Taiping Property Insurance in Tianjin were fined for providing illegal rebates to policyholders, highlighting the need for enhanced self-regulation and risk management within the insurance sector [3] - Regulatory actions are expected to strengthen the industry's self-discipline and improve the transparency and stability of the capital environment [3] Group 4 - Tencent's payment subsidiary, Tenpay, has received approval to increase its registered capital to 22.3 billion yuan, marking a 45.75% increase from the previous year [4] - This capital increase reflects Tencent's strategic deepening in the fintech sector, enhancing its capital strength and market trust [4] - The move is anticipated to stimulate technological innovation and compliance upgrades within the payment industry, benefiting the overall market and digital economy [4] Group 5 - European Central Bank President Lagarde stated that current interest rates are in a "favorable position" to achieve mid-term inflation targets, indicating a careful calibration of monetary policy [5] - The ECB is expected to remain data-dependent and closely monitor economic indicators to assess the need for further adjustments [5]

Group 1 - The first meeting of the China-US economic and trade consultation mechanism was held in London, where both sides reached a consensus on the framework for implementing the agreements from the recent talks between the two heads of state [3] - China will implement a 100% zero-tariff policy on products for 53 African countries that have established diplomatic relations, and has invested over 13.3 billion yuan in Africa since the Beijing summit last year [3] - In the first five months of this year, China's automobile production and sales reached 12.83 million and 12.75 million units, respectively, with new energy vehicles accounting for 44% of total new car sales [3] Group 2 - The People's Bank of China and nine departments issued a notice to enhance the role of Shanghai as an international green finance hub, proposing 20 specific measures [3] - The Zhejiang Provincial Department of Commerce and 17 other departments released measures to support the international expansion of the gaming industry, including nurturing market entities [3] - Insurance funds have been increasingly entering the market, with the number of stakes taken by insurance funds nearing the total for the previous year, focusing on sectors like banking and public utilities [3] Group 3 - Nvidia's CEO announced plans to establish AI technology centers in seven European countries and build over 20 large AI factories in Europe to enhance AI capabilities by 10 times by 2026 [4] - Apple announced that the upcoming macOS 26 Tahoe will be the last version to support Intel chips [4] - The Shanghai Stock Exchange is accelerating the inclusion of the Sci-Tech Innovation Board ETF into the fund transfer platform and optimizing market-making mechanisms [3]

每经记者｜杨建 每经编辑｜彭水萍 ｜2025年6月12日 星期四｜ NO.1 外交部：中方将对53个非洲建交国实施100%税目产品零关税 外交部发言人林剑6月11日主持例行记者会表示，中非合作论坛成果落实协调人会议在湖南长沙举行。 中方宣布，将落实对53个非洲建交国实施100%税目产品零关税举措，为非洲最不发达国家对华出口提 供更多便利，愿同非方深入落实"十大伙伴行动"，为中非携手推进现代化、建设新时代全天候中非命运 共同体提供了重要指引。去年北京峰会以来，中方新增对非投资超133亿元人民币，对非资金支持总额 超1500亿元人民币。今年前5个月，中国对非进出口达9630亿元，同比增长12.4%，创历史同期新高。 NO.2 超10家车企纷纷宣布将供应商支付账期统一至60天内 近日，超10家汽车企业接连宣布将供应商支付账期统一至60天内，以切实行动提高产业链资金周转效 率，推动汽车产业健康、可持续发展。截至目前，比亚迪汽车、中国一汽、东风汽车、吉利汽车集团、 广汽集团、赛力斯集团、长安汽车、奇瑞集团、长城汽车、小鹏汽车、小米汽车等近日纷纷发声，宣布 将供应商支付账期统一至60天内。相关举措有利于保障产业链供应链稳 ...

在商务服务方面，强调要大力发展仲裁、法律、会计、会展、广告等业态，明确到2027年，规模以上商 务服务企业达到200家、营业收入达65亿元；国际仲裁服务实现涉案标的200亿元；培养50名左右省级以 上涉外律师人才；建成50名律师以上的律师所5家；在金融服务方面，强调要聚焦做好科技金融、绿色 金融、普惠金融、养老金融、数字金融"五篇大文章"；在人力资源服务方面，强调要培育壮大市场主 体，支持江门人才发展集团打造全市人力资源工作整体解决方案"总服务商"，推动人力资源机构与互联 网、教育、医疗、养老、家政服务等行业跨界合作等，并明确力争到2027年，规模以上人力资源服务机 构达50家、营业收入达25亿元；在现代物流服务方面，强调要加快一批物流园区和物流中心建设，加快 推进江门国家骨干冷链物流基地建设，培育一批快递业与制造业融合发展项目等，并明确到2027年，交 通运输、仓储和邮政业实现增加值超160亿元、规模以上企业达95家，重型货车电动化比率达7%。 《行动方案》强调要全力推进创新平台建设，加强与高校院所对接合作，加快备案和建设一批概念验证 中心、中试平台和农技服务平台，推动进行科技成果与知识产权交易等，并明确到 ...

渤海银行成立于2005年末，并于2006年初正式对外营业，总部位于天津，2020年在香港联交所上 市，股票代码为9668.HK。 截至2024年末，天津市属国有企业 天津泰达投资控股有限公司 是渤海银行最大股东，持股比例为 20.34%； 渣打银行 持股16.26%，是其第二大股东。渤海银行前十大股东如下表： | 股东名称 | 持股比例 | | --- | --- | | 大津泰达投资控股有限公司 | 20. 34% | | 渣打银行(香港)有限公司 | 16. 26% | | 中海集团投资有限公司 | 11. 12% | | 中国宝武钢铁集团有限公司 | 9. 49% | | 国家开发投资集团有限公司 | 9. 49% | | 泛海实业股份有限公司 | 7.72% | | 天津商汇投资(控股)有限公司 | 6. 51% | | 山东黄金金控集团(香港)有限公司 | 1.84% | | 浙江东阳光健康药业有限公司 | 1.82% | | 圣恩纳实业(天津)有限公司 | 0. 17% | 截至2024年末，渤海银行总资产达到 1.84万亿元 ，同比增长6.41%；当年实现营业收入 254.82亿元 ，同比增长1 ...

Group 1 - The People's Bank of China conducted a 164 billion yuan 7-day reverse repurchase operation, maintaining the operation rate at 1.40%, resulting in a net withdrawal of 509 billion yuan due to 214.9 billion yuan of reverse repos maturing on the same day [1] - The overnight Shanghai Interbank Offered Rate (Shibor) decreased by 0.10 basis points to 1.3610%, while the 7-day Shibor increased by 0.60 basis points to 1.5020%, and the 14-day Shibor rose by 1.60 basis points to 1.5600% [1][2] Group 2 - In the interbank pledged repo market, all varieties saw an increase, with the overnight transaction volume rebounding. The weighted average rates for DR001 and R001 rose by 0.5 basis points and 1.0 basis points, respectively, to 1.3679% and 1.421%, with transaction volumes increasing by 131.8 billion yuan and 230.6 billion yuan [6] - The weighted average rates for DR007 and R007 increased by 2.1 basis points and 1.9 basis points, respectively, to 1.5276% and 1.5615%, with transaction volumes rising by 8.7 billion yuan and 9.8 billion yuan [6] Group 3 - As of June 11, there were 130 interbank certificates of deposit issued, with an actual issuance amount of 189.05 billion yuan [11] - The overall trading sentiment for primary certificates of deposit was concentrated on the 9-month term, while other terms saw relatively light trading [12]

Core Viewpoint - The article discusses the positive impact of the recently released "Opinions" by the Central Committee and the State Council on the financial sector in Shenzhen, highlighting opportunities for financial reform, innovation, and technology empowerment. Group 1: Financial Sector Reforms - The "Opinions" emphasize five key points, including improving the incentive and constraint mechanisms for financial services to the real economy [5] - Support for Shenzhen to conduct integrated pilot projects for technology industry finance [5] - Establishing a sound system for credit and securitization of technology enterprises, optimizing financing mechanisms [5][6] - Deepening green finance reforms and allowing insurance funds to invest in specific private equity and venture capital funds [6] - Allowing companies listed on the Hong Kong Stock Exchange from the Guangdong-Hong Kong-Macao Greater Bay Area to list on the Shenzhen Stock Exchange [7][8] Group 2: Market Reactions - Following the announcement, brokerage stocks and financial technology sectors saw significant gains, with specific ETFs like the Hong Kong Stock Connect Financial ETF rising by 2.14% [2][3] - The A-share market broke the 3400 key level, with the financial sector becoming a major highlight in the market [4] Group 3: IPO Market Dynamics - The Hong Kong IPO market is experiencing a revival, with May's fundraising exceeding 56 billion HKD, marking a four-year high [10] - Over 40 A-share companies plan to list in Hong Kong in 2025, with expected fundraising between 1300-1600 million HKD [12] - The A+H share listing trend is a significant driver for the IPO market [11] Group 4: Technology Empowerment - The "Opinions" highlight the importance of financial empowerment for technology, with potential for Shenzhen to replicate Hong Kong's success in attracting innovative companies [17][19] - The financial technology market is substantial, with a global market size exceeding 8.5 trillion USD, and China accounting for approximately 1.9 trillion USD [22] - Financial technology is growing rapidly at an annual rate of about 18%, with segments like digital payments and green finance technology seeing even higher growth [22] Group 5: Investment Opportunities - The article suggests that the current environment presents unique investment opportunities in both traditional finance and financial technology sectors [25] - The financial sector is undergoing significant changes, with traditional institutions transforming and fintech companies innovating [25][27] - Investors are encouraged to consider financial technology ETFs, which have shown remarkable performance since their inception [23][24]