卅年砥砺，风云激荡。从扎根一隅、服务地方的"金融毛细血管"，到与国同梦、与城共进的"经济重要支 柱"，中国城市商业银行用三十载时光，完成了一场波澜壮阔的跨越与重塑。在此背景下，金融界重磅推 出"城商行三十年：跨越与重构"系列策划，系统梳理城商行蜕变为区域金融支柱的历程，剖析行业挑战与 未来航向。本文聚焦——日照银行。这家诞生于2000年的海滨城商行，历经二十余载深耕细作，已实现资 产规模突破3500亿元、跻身全国银行百强的跨越式成长，勾勒出"扎根本土不松懈、战略升级不止步"的发 展蓝图，其以"一基两翼"布局链接区域脉络、以数字金融赋能产业升级的实践，正是新时代城商行稳健致 远的鲜活样本。 前世今生：二十五载深耕，从本土到区域的跨越 官网显示，日照银行成立于2000年12月28日，前身为日照市商业银行，是一家由国有股份、企业法人股份 及自然人股份共同组成的具有独立法人资格的股份制商业银行。2004年实现本外币一体化经营，与50多个 国家和地区的500多家银行建立了代理行关系。 2006年该行引进南京银行为战略投资者，开创了国内城商行之间战略合作的先河。2009年更名为日照银 行，设立首家分行青岛分行。2010年 ...

Investment Ratings - Banking: Overweight (Maintain) [1] - Securities: Market Weight (Maintain) [1] - Insurance: Overweight (Maintain) [1] Core Insights - The financial indices for banks, securities, and insurance showed varied performance, with banks declining by 0.93%, securities increasing by 3.47%, and insurance rising by 15.61% as of December 18, 2025 [9] - The report highlights a trend of increasing social financing, with corporate bonds contributing significantly, while demand for loans from both residents and enterprises remains weak [43] - Regulatory changes in the insurance sector aim to encourage long-term investments and improve the competitive landscape for leading insurance companies [47] Summary by Sections Market Review - As of December 18, 2025, the banking index decreased by 0.93%, while the securities and insurance indices increased by 3.47% and 15.61%, respectively [9] - Xiamen Bank, Zhongyin Securities, and China Ping An were noted for their strong performance, with increases of 5.49%, 12.39%, and 16.99% [9] Valuation Situation - The banking sector's price-to-book (PB) ratio stands at 0.77, with state-owned banks at 0.83, joint-stock banks at 0.62, city commercial banks at 0.73, and rural commercial banks at 0.65 [20] - The securities sector's PB ratio is at 1.48, indicating potential for valuation recovery [22] Recent Market Indicators - The one-year Medium-term Lending Facility (MLF) rate is 2.0%, with the one-year and five-year Loan Prime Rates (LPR) at 3.0% and 3.50%, respectively [27] - The average daily trading volume in A-shares was 17,440.20 billion, reflecting a decrease of 9.91% [33] Industry News - The Ministry of Industry and Information Technology and the People's Bank of China issued a notice to support green finance for green factory construction [38] - The China Securities Regulatory Commission emphasized differentiated development paths for securities firms, encouraging mergers and resource integration for leading firms [45] Company Announcements - China Life reported total premiums exceeding 700 billion as of November 30, 2025 [41] - New China Life announced a 16% year-on-year increase in original premium income as of November 30, 2025 [41] Weekly Insights - The banking sector is advised to focus on regional banks with strong performance and stable earnings, such as Ningbo Bank and Chengdu Bank [44] - The securities sector should consider firms with restructuring potential and strong operational capabilities, including Zheshang Securities and CITIC Securities [46] - The insurance sector is encouraged to invest in companies with strong growth in new business value, such as China Pacific Insurance and Ping An [47]

Group 1: Green Finance Development in Hunan - As of the end of Q3 2025, Hunan's green loan balance is expected to exceed 1.3 trillion yuan, representing a 21.1% increase from the beginning of the year, surpassing the national average by 3.6 percentage points [1] - Hunan is actively promoting environmental rights mortgage financing and exploring innovative financial products, gradually constructing a green finance methodology unique to the province [1] - The first "Xianglin Carbon Ticket" pledge loan of 3 million yuan was issued in Shuanglong Town, Huayuan County, showcasing Hunan's efforts in environmental rights mortgage financing [1] Group 2: Transition Finance Initiatives - Hunan aims to establish itself as a significant advanced manufacturing hub, focusing on intelligent, green, and integrated development, while addressing the financial challenges faced by enterprises in transitioning to low-carbon operations [2] - The core of transition finance is to provide precise financial support for high-carbon industries like steel, non-ferrous metals, and energy to shift towards low-carbon and zero-carbon models [2] - A pilot project in the foundry industry in Jiahe County has led to the creation of a comprehensive service system, including a support directory and carbon accounts, facilitating the introduction of financial products linked to carbon emissions [2] Group 3: Water Resource Financing - Hunan is promoting national transition finance standards in agriculture, coal power, steel, and construction materials, with a focus on sustainable water resource utilization [3] - The "Water Rights" financing value assessment and pledge registration mechanism has been established to activate local water resource assets, resulting in 170 million yuan in "Water Loans" issued to support small hydropower station upgrades [3] - By the end of Q3, the green loan balance in Chenzhou reached 74.985 billion yuan, reflecting a 19.1% increase from the beginning of the year, outpacing the growth rate of other loans by 10.2 percentage points [3] Group 4: Policy Support for Green Finance - In December 2024, the People's Bank of China Hunan Branch, along with six other departments, issued a notice to develop green finance to support the construction of a beautiful Hunan, focusing on carbon reduction, pollution reduction, and green expansion [4] - A set of 25 measures was also released to enhance financial services for the green, low-carbon, and high-quality development of the Yangtze River Economic Belt [4] - The Hunan Branch of the People's Bank of China will continue to strengthen coordination with relevant departments to promote innovative green finance products and services [4]

登录新浪财经APP 搜索【信披】查看更多考评等级 本报（chinatimes.net.cn）记者刘佳 北京报道 在"双碳"目标持续深化与信托业高质量转型双重驱动下，绿色信托以独特优势扛起信托业低碳转型的责 任。 近日，中国信托业协会发布2025绿色信托十大案例，涵盖资产服务、资产管理、公益慈善三大类信托业 务实践，全面展现了信托制度在绿色发展领域的多元价值。 中国信托业协会党委委员、副会长闫建东表示，绿色信托既能成为生态保护的"守护者"，也能成为乡村 振兴的"助力者"，更能成为产业升级的"赋能者"。"此次发布的案例为行业提供了可复制、可推广的实 践范式，未来绿色信托的发展空间广阔可期。" 三大业务类型全覆盖 《华夏时报》记者梳理发现，此次入选的案例覆盖新能源发电、碳资产运营、生态保护等多个绿色领 域，呈现出"产业赋能+公益守护"多元并行的发展特征。 资产服务类信托中，以外贸信托"光能系列"户用光伏服务信托为例，该项目通过创新的服务信托架构， 通过在农户屋顶铺设光伏板，实现"自主发电、全额上网"，同时通过售电为农户带来持续收益。数据显 示，参与农户户均年增收可超过3000元，部分偏远地区收入增幅达40%。截至今 ...

Core Viewpoint - The acceleration of green transformation in economic and social development is a strategic choice aligned with China's modernization and high-quality development goals, with a focus on integrating green finance and sustainable investment into the financial sector [1] Group 1: ESG Investment Strategy - The ESG (Environmental, Social, and Governance) investment philosophy has rapidly gained traction in global markets, emphasizing a comprehensive evaluation that includes environmental protection and social responsibility alongside financial performance [2] - Since becoming a signatory to the UN Principles for Responsible Investment (PRI) in 2022, the company has achieved the highest five-star rating in the 2024 PRI assessment across multiple dimensions, including passive equity and active quantitative strategies [2] - An ESG research team has been established to set sustainable investment goals and ensure the integration of ESG principles throughout the investment research process [2] Group 2: Green Financial Research Framework - The company is focused on building a rigorous research framework to support its green finance strategy, ensuring that ESG principles are embedded in the investment decision-making process [4] - Investment decisions incorporate positive and negative screening, as well as ESG integration, using an ESG rating system to assess the green governance performance of investment targets [4] - Fund managers consider both internal and external ESG ratings when constructing investment portfolios, prioritizing investments with strong green governance [4] Group 3: Product Innovation - The company is committed to supporting the energy revolution and sustainable investment, focusing on clean energy utilization and the development of a new energy system [6] - A diverse range of green financial products is offered, including various ETFs and actively managed funds, aimed at directing social capital towards green industries [6] - The product lineup includes industry-leading innovations and specialized tools, providing long-term funding support for green industry development and offering investors a variety of options to participate in the green transition [6] Group 4: Collaborative Ecosystem - The company recognizes the importance of collaboration in advancing green finance and aims to enhance its ESG investment ecosystem through product innovation, technology, and industry partnerships [7] - Plans include leveraging big data and AI to improve risk assessment and yield analysis for green projects, as well as fostering communication among investment institutions, enterprises, and regulatory bodies [7] - The company aims to guide social capital towards green sectors, contributing to the low-carbon transition of the real economy while achieving its own high-quality development [7]

经济日报记者 薛志伟 刘兴 吴陆牧 集体林权制度改革是完善农村基本经营制度的重大实践，对推动林业高质量发展、激发乡村全面振 兴活力具有重要意义。 2023年9月，中办、国办印发《深化集体林权制度改革方案》，支持福建、江西、重庆建设深化集 体林权制度改革先行区。两年来，3个先行区探索实施了一批首创性、特色性改革举措，激活林业发展 活力，让改革成果惠及更多林农。 制度先行先试，激发活力 创新金融服务，点绿成金 林区变革，制度先行。三地通过改革创新，推动集体林改政策机制更加完善，支撑保障更加有力。 走进福建省龙岩市武平县，一片片山林焕发出生机与活力。2002年，武平率先迈出集体林权制度改 革的步伐，曾因山小分散、单户难经营而"沉睡"的山林成了联户共富的试验林，亦是福建集体林权制度 改革的生动缩影。但改革从未止步，经营分散化、产业链低端化等新问题倒逼新探索。 2024年，福建省林业局出台方案，决定在全省16个县（市、区）开展以"多方得益、多式联营、多 重服务"为重点的集体林权制度"三多"改革试点工作。 "多方得益"激活利益链，在推进"三权分置"、优化林权管理、完善生态补偿机制上先行，让林农、 集体、企业、社会多方得益 ...

李蕾谈到，当今世界，数字技术正以前所未有的速度重新定义金融的边界，在中国，一场以服务实体经 济为根本、以风险防控为基石、以制度创新为引领的深刻变革正在系统推进。 在金融科技治理、数据要素流通、人工智能规范化应用、以及数字人民币探索等领域，中国不仅走在全 球前列，更为智能金融的发展奠定了坚实的制度基础。同时，在"双碳"战略的引领下，具有中国特色、 面向世界的绿色金融体系也日臻完善。 专题：第二十二届中国国际金融论坛 2月19日-20日，"第二十二届中国国际金融论坛"在上海举行，主题为：数字经济时代的智能金融生态构 建。西班牙对外银行（BBVA）中国区总裁李蕾出席并演讲。 她介绍到，西班牙对外银行作为一家拥有160多年历史、深耕亚洲欧洲拉美等多国市场的国际银行集 团，始终致力于成为连接国际资源与本地需求的协作伙伴。在绿色金融方面，自2018年以来，已累计投 放超过3000亿欧元用于可持续融资，并承诺在2025—2029年期间再投放7000亿欧元支持绿色与社会可持 续项目。 "我们愿以全球经验与本地洞察，助力中国金融的高质量发展。"她说。 李蕾指出，数字经济的浪潮奔涌向前，构建安全、智能、可持续的金融生态，是我们共 ...

（原标题：领航金融未来 擘画时代新篇） 中国金融业正站在历史交汇的时间点。 案例征集 树立行业标杆 为系统总结2025年金融业的创新成果与实践经验，发掘在复杂环境下仍能保持战略定力、实现高质量发 展的金融机构典范，本次领航企业案例开启广泛征集，并秉持严谨标准与多元视角，展开全流程、多方 位评估，寄望于在促进行业交流与共同进步的同时，集众家所长，以点滴实践的微光，为"十五五" 金 融强国建设之路增光添彩。 前瞻展望 以金融高质量发展服务中国式现代化 领航金融机构仍然追求卓越。2025年，面对国际贸易竞争加剧、国内息差持续收窄等复杂经营压力，领 航金融机构拓宽服务半径，增强差异化竞争能力，在有限的空间中展现出无限的发展潜力。 在技术创新层面，以人工智能、大数据模型等为典型代表的金融数字化应用不断深化，为金融机构降低 运营成本、提升了服务质效打下了坚固的技术底座。丰富的金融功能无缝嵌入生产和生活场景，金融服 务线上线下全渠道协同更加流畅自如。 在服务国家战略方面，金融机构聚焦乡村振兴、区域协调发展等重大部署，农村数字普惠金融、产业扶 持贷款、基础设施建设融资等创新实践持续落地，因地制宜开发特色产品，一企一策优化服务 ...

持续提升长期投资、稳健投资、价值投资三大核心能力，全面完善全链条投资管理体系，这不仅是保险 业立足保障本源、坚守稳健经营的必然要求，更是保险机构扛起时代责任、做好金融"五篇大文章"、为 实体经济高质量发展注入强劲动能的重要支撑。 在此背景下，交银人寿凭借其卓越的穿越周期投资实力，获评每日财报、每财网颁发的"2025金柿奖·中 国保险稳健投资样本"奖项。这不仅是对其稳健投资业绩的认可，更是对其长期主义价值观和深度服务 实体经济能力的高度肯定。 坚守"绝对收益+长期稳定收益"理念，业绩穿越周期领跑同业 作为国内首家银行系寿险公司，交银人寿在投资端始终坚守"两大追求"，即追求绝对收益而非相对收 益、追求长期稳定收益而非短期高收益。在复杂多变的市场环境中，公司凭借前瞻的战略定力和灵活的 策略执行，构建了稳健的投资底盘。 公开资料显示，2025年上半年，其旗下专业资管平台——交银保险资产管理有限公司综合收益率攀升至 6.5%，表现亮眼。 固收为"压舱石"，筑牢安全底线。在坚持资产负债匹配原则下，交银人寿充分发挥寿险资金久期长优 势，前瞻性、大规模配置长久期优质固收资产，在利率下行周期中尽量提升盈利的确定性和持续性，强 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 12月13日，中国金融学会绿色金融专业委员会在北京召开《可持续金融共同分类目录（CGT）》专家组第五次会议。会议围绕CGT从2022版向2024版的切换 安排、多边可持续金融共同分类目录（MCGT）的使用定位、贴标机制优化以及银行端产品纳入等议题进行了交流。来自中国人民银行研究局、中国外汇交 易中心、上海证券交易所、商业银行、资产管理机构、第三方机构、研究机构及国际金融机构等20余名代表参会。 图：部分参会人员合影 会上，专家组组长、外汇交易中心徐苏江介绍了专家组今年以来的工作进展，包括CGT贴标在绿色债券市场中的应用情况，以及围绕CGT逐步形成的投资工 具和市场实践。截至11月末，专家组已评估并发布29个批次的CGT贴标绿色债券清单。在约490只贴标债券中，尚有288只处于存续期，发行规模约3300亿元 人民币。非金融机构在发行阶段主动寻求CGT贴标的比例，已从初期约10%显著提升至10月的92%。基于已贴标的CGT债券，目前已有多家机构推出相关投 资工具和产品。 会议还就银行在推动CGT市场发展中的作用进行了交流。摩根资产管理（中国）和中国邮储银行代表分享 ...