深圳特区，这个承载着光荣与梦想的地方，迎来了她的45周年生日。45年征程，深圳金融业从"几乎一 张白纸"到"杀出一条血路"，创造了许多全国第一：第一家股份制商业银行、第一家股份制保险公司、 第一家证券交易所、第一家外资银行分行……这些"破冰之举"不仅为深圳经济腾飞提供了资金活水，也 为金融改革积累了宝贵经验，更在"金融强国"建设中书写"深圳样本"。45年来，深圳金融业从无到有、 从小到大、从弱到强，金融业增加值从特区成立之初的0.16亿元增长到2024年的4710.5亿元，增长近3万 倍，无数金融机构在深圳诞生、落户，拔节而起落地生根，与这座城市的"大树生态"共融共生共赢。深 圳金融实践也再次证明：金融棋活，全盘皆活。 45载潮头立，45岁仍少年，45年再出发。在这座"尖兵荟萃之城"，金融筑梦人的故事仍在继续。 为此，南方都市报湾财社推出"奋进45载 金融筑梦人"专题报道，联手一批头部金融机构，共同解锁"奇 迹之城"背后的引擎动能，也为"金融强国"建设分享深圳实践样本。 深圳工行 深圳农行 深圳建行 招行深圳分行 平安融易 上海银行深圳分行 平安人寿深分 江苏银行深圳分行 深圳邮储 深圳国寿 兴业银行深圳分行 ...

Core Viewpoint - Shenzhen, celebrating its 45th anniversary, highlights the symbiotic relationship between local banks and the city's development, showcasing the innovative financial practices of institutions like China Merchants Bank and Ping An Bank [2][8]. Group 1: Historical Context and Development - Shenzhen's financial industry has evolved significantly since the 1980s, with local banks like China Merchants Bank and Ping An Bank serving as examples of successful financial innovation [2][8]. - China Merchants Bank was established in 1987 in Shenzhen, starting with 100 million yuan in capital and growing to over 12 trillion yuan in total assets by mid-2025 [8]. - As of June 2025, China Merchants Bank reported 1.16 trillion yuan in deposits and 536.3 billion yuan in loans in Shenzhen, serving 15.78 million retail customers and 310,000 corporate clients [8]. Group 2: Leadership and Management - Wang Liang, the long-serving president of China Merchants Bank, emphasizes a market-oriented approach and innovative service models as key to the bank's success [11]. - In contrast, Ji Guangheng, the relatively new president of Ping An Bank, brings extensive experience from other major banks and focuses on leveraging technology and industry support for growth [5][10]. Group 3: Strategic Innovations - China Merchants Bank's "Zhaoyin Model" includes a modern corporate governance structure and a competitive hiring process, fostering a dynamic work environment [11]. - Ping An Bank's strategy involves supporting technology-driven enterprises and enhancing industrial upgrades, with a focus on creating specialized financial products for key sectors [12][13]. Group 4: Financial Performance and Challenges - Both banks face challenges such as declining interest rates and consumer spending, with China Merchants Bank reporting a 2.08% decrease in net profit year-on-year for Q1 2025 [16]. - Ping An Bank's half-year report for 2025 showed a 10% decline in revenue and a 3.9% decrease in net profit, although some key performance indicators showed signs of recovery [16]. Group 5: Future Directions and Goals - The financial sector in Shenzhen aims to align with national goals for high-quality development, with China Merchants Bank focusing on a "value bank" strategy to maximize stakeholder benefits [18]. - Ping An Bank seeks to integrate with Shenzhen's growth, supporting the real economy and enhancing financial services for the community [18].

Group 1 - The core theme of the event is "Embracing AI Technology Transformation, Serving the Real Economy - Enhancing Financial Quality and Efficiency to Support High-Quality Economic Development" [3][10] - The event will feature the release of the "China Banking Industry Top 200 Ranking" and "Outstanding Cases of Innovation in the Banking Industry," providing insights into the latest industry trends and best practices [5] - The event aims to create a multi-dimensional communication platform for the banking industry, facilitating cross-sector collaboration and innovative synergy [4][9] Group 2 - The event will gather top experts from policy regulation, senior bankers, and scholars in banking research to deeply interpret and discuss pressing domestic and international topics in the banking sector [6] - There will be in-depth discussions on banking operational logic, focusing on five key areas: fintech, green finance, inclusive finance, pension finance, and digital finance, to derive practical methodologies for serving national strategic initiatives [7] - The event will include authoritative experts sharing insights on the application, challenges, and future landscape of artificial intelligence in core banking scenarios such as risk control, marketing, operations, and product innovation [8] Group 3 - The event is organized by Tsinghua University Wudaokou School of Finance and the editorial department of "Tsinghua Financial Review," with the aim of promoting high-quality development in the banking sector [10][18] - The agenda includes a keynote speech on banking operational logic and practical exploration, the release of the 2025 China Banking Industry Top 200 Ranking research report, and a high-level dialogue on banking management in the AI era [14]

Group 1 - The core argument emphasizes the necessity of building a strong financial nation to advance Chinese-style modernization, with state-owned commercial banks playing a crucial role due to their solid foundation, extensive business scope, and large scale [1][7]. - Chinese-style modernization, as defined by the Communist Party, provides a unique direction for financial reform and development, highlighting the importance of maintaining centralized leadership and ensuring high-quality financial development [2][7]. - The financial sector must focus on serving the real economy, enhancing financial services to meet the growing demand for quality financial products from the public, and addressing pressing issues faced by the populace [3][8]. Group 2 - There is a strong emphasis on supporting high-quality development by aligning financial services with the new development pattern, focusing on optimizing resource allocation, and enhancing financial service quality [3][8]. - The financial sector is urged to increase support for technological innovation, ensuring that financial services align with national strategies for education, technology, and innovation [4][8]. - The promotion of green finance is highlighted as essential for achieving harmony between humanity and nature, with a focus on directing investments towards low-carbon and sustainable economic practices [5][8]. Group 3 - Financial risk prevention and resolution are identified as ongoing priorities, with a call for a comprehensive risk management system to maintain financial stability and national security [6][9]. - Continuous reform and innovation in the financial sector are necessary, with a focus on balancing economic security and development, and adapting to changing external environments [10][11].

Core Viewpoint - The People's Bank of China and the China Securities Regulatory Commission have issued the "Financial Infrastructure Supervision Management Measures," which focus on the regulation of financial infrastructure operations, risk management, and corporate governance, aiming for unified regulatory standards in the financial market. The measures will take effect on October 1, 2025 [1][2]. Group 1: Regulatory Framework - The measures consist of six chapters and thirty-seven articles, establishing a comprehensive regulatory framework for financial infrastructure, including operational, risk management, and governance rules [2]. - Financial infrastructure is defined to include systems for asset registration, clearing and settlement, trading facilities, important payment systems, and credit systems. Illegal establishment or operation of financial infrastructure is prohibited [2][3]. - The introduction of these measures is seen as timely, providing a detailed institutional framework for the standardized development of financial infrastructure in response to the increasing complexity and risks in the financial market [2][4]. Group 2: Risk Management and Oversight - The measures aim to enhance risk management and oversight by establishing clear standards for identifying systemically important financial infrastructure and macro-prudential management requirements [4][5]. - The framework includes provisions for inspections, penalties, recovery, and exit strategies, ensuring a complete regulatory loop from entry to operation to exit [4]. - The measures shift risk monitoring from reactive to proactive, allowing for early warnings and reducing the space for regulatory arbitrage, thereby fostering a fair and transparent market environment [4][5]. Group 3: International Alignment and Competitiveness - The measures emphasize the need for financial infrastructure to align with international standards, such as the "Principles for Financial Market Infrastructures (PFMI)," while considering China's specific circumstances [6][7]. - The implementation of these measures is expected to enhance the safety, stability, and efficiency of financial infrastructure, ultimately supporting the development of the real economy and improving China's competitiveness in the international financial market [7][8].

Core Objective - The central financial work meeting in October 2023 proposed the goal of "accelerating the construction of a financial power," highlighting the critical role of finance in national development [1] Cultural Development - The company recognizes that cultural construction is integral to national strategy, serving as a "nervous system" for financial security and a "driving engine" for organizational vitality [2] - The company has established a clear and distinctive cultural construction practice model, effectively consolidating development consensus and providing strong cultural support for sustainable growth [2] Ideological Guidance - The company emphasizes systematic learning of the core connotations and practical requirements from the Party's 20th National Congress and the third plenary session [3] - Various educational activities and platforms have been organized to strengthen the ideological foundation and political determination of all employees [3] - The fundamental value concept of "finance for the country, finance for the people" is deeply integrated into the cultural construction [3] Responsibility Framework - The company has developed a comprehensive institutional guarantee system for cultural construction, including a dedicated integrity management system and updated employee behavior guidelines [4] - Specific implementation plans and task lists for cultural construction have been established, with clear responsibilities and timelines [4] - The company has optimized the assessment and incentive mechanisms, incorporating cultural construction outcomes into performance evaluations [4] Risk Management - The company prioritizes compliance and risk culture, continuously updating compliance and risk management documents across all business lines [5][6] - Training sessions on compliance awareness and regulatory policies are regularly conducted to reinforce ethical conduct among employees [5][6] Brand Development - The company actively participates in industry activities and enhances internal cultural atmosphere through various initiatives [7] - Efforts are made to improve the quality and appeal of internal publications and to explore diverse methods for cultural promotion [7] Social Responsibility - The company regularly publishes detailed annual social responsibility reports and engages in local sustainable public welfare projects [8] - Initiatives to enhance investor education and protect investor rights are prioritized, showcasing the company's commitment to responsible financial practices [8] Future Directions - The company will continue to enforce cultural construction responsibilities at all levels and deepen exchanges with industry peers [9] - There will be a focus on standardizing successful cultural construction models and enhancing brand strategy and cultural image [9]

Core Viewpoint - The article emphasizes the importance of strong financial regulation and talent cultivation as essential components for building a robust financial nation, highlighting their interdependence and foundational role in the financial system [1][2]. Group 1: Importance of Strong Financial Regulation - Strong financial regulation is fundamental for the stability of financial institutions and the overall financial system, aiming to maintain the soundness of financial entities and enhance their resilience against economic shocks [3]. - Effective regulation serves as a foundational guarantee for the construction of a strong international financial center, attracting global financial institutions, capital, and talent through transparent and efficient oversight [3]. - The relationship between strong financial regulation and a powerful central bank is crucial for maintaining financial system stability, ensuring the effectiveness of monetary policy, and safeguarding the credibility of the currency [3]. Group 2: Significance of Financial Talent - A strong talent pool is vital for the healthy development of the financial sector, as the competitiveness of the financial industry is directly determined by the quality of its talent [4]. - The unique characteristics of financial assets, such as their volatility and ease of transfer, contribute to the risks in the financial sector, which can be exacerbated by human error or technical failures [4]. - The ethical standards of financial professionals significantly impact the safety of financial assets, the stability of financial institutions, and the protection of consumer interests [4]. Group 3: Evolution of China's Financial System - China's financial system has gradually developed since the reform and opening-up in the late 1970s, with the regulatory framework adapting to market needs and evolving through practical reforms [5]. - The emphasis on the relationship between government and market, as highlighted in the Third Plenary Session of the 18th Central Committee, marks a significant breakthrough in understanding market roles and guides the establishment of efficient and transparent financial regulation [5]. - Recent reforms, including the establishment of the Central Financial Committee, enhance centralized leadership over financial work, addressing issues of fragmented regulation seen in Western countries [5]. Group 4: Theoretical Research and Practical Implications - The dual challenges of market failure and regulatory failure are not unique to the financial sector, and in-depth research on financial regulation theory can inform broader regulatory practices across various fields [6]. - Issues such as information asymmetry and regulatory capture undermine government credibility and regulatory effectiveness, necessitating a focus on social oversight and accountability mechanisms [6]. - The article calls for the development of an independent financial regulatory theory system that aligns with the goals of building a strong financial nation, drawing from 40 years of reform and regulatory practice in China [6].

Core Viewpoint - The asset management industry is transitioning from "scale expansion" to "quality improvement," with a focus on integrating into the Shanghai International Financial Center's development [1] Group 1: Industry Trends - The asset management sector is benefiting from favorable conditions, including a growing middle-income group in China, which provides a stable customer base [1] - The industry is shifting from a "scale-oriented" approach to one that emphasizes "capability" in the context of low interest rates [2] Group 2: Company Strategy - The company has established a "digital intelligence" strategy, focusing on five key areas: technology finance, supply chain finance, inclusive finance, cross-border finance, and treasury finance [1] - The company aims to enhance its global brand value by integrating various domestic and international licenses to provide a full-chain service capability [2] - The company emphasizes long-term value creation for clients, aiming to offer comprehensive and friendly services [2] - The company is committed to improving the digital intelligence level in investment research, allocation, marketing, and management [2]

Group 1 - The core viewpoint is that the securities sector is experiencing a strong rally, with the National Securities Leading Index rising by 2.03% and individual stocks like Huatai Securities and Zheshang Securities showing significant gains [1] - The Shanghai Composite Index has surpassed the 3700-point mark, reaching its highest level since December 2021, indicating increased market attention on the brokerage sector [1] - Short-term demand for catch-up is strong, as the current valuation of brokerages at 1.60X is still below last year's high of 1.76X, suggesting potential for further upside [1] Group 2 - The regulatory environment is becoming more favorable, with a relaxation in financial regulations leading to an increase in valuation levels for brokerages, contrasting with the strict regulatory conditions of the previous year [1] - There are multiple catalysts for growth, including deeper involvement of brokerages in virtual asset business, potential mergers among state-owned financial institutions, and an influx of incremental capital into the market [2] - Long-term value in brokerage firms is highlighted, with an emphasis on wealth management and market-making as key growth areas, particularly for leading firms [2] Group 3 - The National Securities Leading Index closely tracks the performance of quality listed companies in the securities theme, providing investors with diversified index investment tools [3] - As of July 31, 2025, the top ten weighted stocks in the National Securities Leading Index account for 78.84% of the index, indicating a concentrated focus on leading companies in the sector [3]

建设银行党委要求，增强服务国家建设能力，坚持把工作重心放在服务经济社会发展上，围绕扩大 内需、发展新质生产力、区域协调发展等重大战略和重点领域，加大金融支持力度，做深做实金融"五 篇大文章"，切实当好服务实体经济的主力军。增强防范金融风险能力，遵循金融发展规律，强化底线 思维，扎实做好资产质量管控，防范化解重点领域风险，守牢不发生系统性风险底线，切实当好维护金 融稳定的压舱石。增强参与国际竞争能力，积极支持高水平对外开放，深耕"一带一路"共建国家和区域 全面经济伙伴关系协定（RCEP）区域，丰富国际化产品服务体系，全面提升本外币境内外一体化金融 服务水平。 交通银行党委明确，要讲大局、谋全局，坚持把交行事业放在党和国家事业发展全局中去考量，全 面落实一揽子存量增量政策，以稳中有进、稳中提质的成效，为巩固经济回升向好势头作出贡献。要守 好本分，坚持把服务实体经济作为根本宗旨，做实做细金融"五篇大文章"，将金融资源精准配置到国家 重大战略、重点领域和薄弱环节，加力支持上海"五个中心"建设和人民城市建设。要深化改革创新，用 好改革关键一招，持续推进重点领域改革项目落地，深化金融供给侧结构性改革，发挥金融活水作用， ...