Group 1 - A-shares opened slightly higher on June 24, with active performance in the computer and fintech sectors [1] - The Computer ETF (159998) rose by 2.37%, with a trading volume exceeding 31 million yuan, and notable gains in constituent stocks such as Zhinan Compass, Wealth Trend, and Runze Technology [1] - The Computer ETF has attracted over 23 million yuan in net inflows over the past five trading days, leading among similar products [1] Group 2 - The People's Bank of China has introduced a three-year action plan (2024-2026) focusing on financial technology development, aiming to enhance data capabilities and support financial digital transformation [2] - The AI agent is seen as a pivotal point in the software revolution, with significant opportunities emerging in fintech innovation and domestic computing power [2] - The computer sector is entering its earnings disclosure period, shifting market focus from technology themes to performance realization and rapid industry transformation [2]

Core Insights - ATFX is experiencing strong growth in the Latin American market, with the official opening of a new office in Mexico planned for November 2024 [1] - The company has established a significant presence in the region over the past six years, leveraging innovative fintech products and localized services [1][4] - A recent investment summit in Tulum, Mexico, themed "Connection, Vision, and Growth," was held in collaboration with Bullfy, aiming to enhance market service and user experience [1][3] Company Developments - ATFX has built a comprehensive service network in Colombia, Ecuador, and Uruguay since entering the Latin American market in 2019 [4] - The company employs a dual-core development strategy of "technology-driven + localized services," which has led to a superior investment service experience [4] - Key achievements include partnerships with Nelogica for revolutionary trading experiences, the launch of the ATFX Teamup liquidity solution tailored for the region, and a strategic alliance with Fusion Esports [4] Industry Trends - The summit gathered financial experts and representatives from various sectors to discuss fintech innovation and industry trends, focusing on digitalization in financial markets [3] - Discussions emphasized the importance of technology in lowering investment barriers and increasing market participation [3] - ATFX has been recognized as "Best Broker in Latin America" for four consecutive years from 2021 to 2024, highlighting its leadership in the region [4]

Core Viewpoint - Shanghai is accelerating its transformation into a globally influential international financial center, focusing on areas such as RMB internationalization, cross-border capital flows, and financial technology innovation [1] Group 1: Policy Initiatives - Eight policy measures will be implemented in Shanghai, including the establishment of an interbank market trading report database and a digital RMB international operation center [1][2] - The establishment of a personal credit agency aims to enhance the social credit system and provide diversified credit products for financial institutions [3][4] - The development of offshore trade finance services in the Lingang New Area will support Shanghai's offshore trade [5][6] Group 2: Financial Infrastructure and Risk Management - The interbank market trading report database will serve as a crucial financial infrastructure, improving data transparency and risk monitoring [2] - The digital RMB international operation center is expected to enhance the RMB's status in the international monetary system and facilitate cross-border trade [3] - The establishment of personal credit agencies will contribute to the high-quality development of inclusive finance [4] Group 3: Economic Support and Innovation - The policies are designed to support the real economy, enhance financial resource allocation, and promote financial innovation [1][2] - The introduction of structural monetary policy tools aims to deepen financial reforms and increase market competitiveness [6][7] - The promotion of offshore bonds and the optimization of free trade account functions will broaden financing channels for enterprises [5][6] Group 4: Currency and Risk Management Tools - The research and promotion of RMB foreign exchange futures will help financial institutions and foreign trade enterprises manage exchange rate risks [7][8] - The structural monetary policy tools will provide targeted support to key sectors, avoiding systemic risks associated with traditional monetary expansion [7]

Core Viewpoint - The People's Bank of China announced eight policy measures aimed at enhancing Shanghai's status as an international financial center, focusing on financial innovation, internationalization, and improved capital allocation capabilities [1][7]. Group 1: Policy Measures - Establishment of an interbank market trading report database to enhance data transparency and risk monitoring, supporting macro-prudential management [2]. - Creation of a digital RMB international operation center to facilitate cross-border payments and enhance the international influence of the RMB [3]. - Setting up a personal credit institution to diversify credit products and improve the social credit system [4]. Group 2: Financial Innovation and Capital Allocation - Launching a pilot program for offshore trade finance services in the Lingang New Area to support innovative business rules [6]. - Development of free trade offshore bonds to broaden financing channels for enterprises involved in the Belt and Road Initiative [6]. - Upgrading the functions of free trade accounts to enhance the efficiency of capital flow between domestic and foreign entities [6]. Group 3: Structural Monetary Policy Tools - Implementation of innovative structural monetary policy tools in Shanghai, including blockchain credit refinancing and carbon reduction support tools [8]. - Introduction of credit protection tools to support the issuance and trading of technology innovation bonds, thereby reducing investment risks [9]. Group 4: Currency and Exchange Rate Management - Collaboration with the China Securities Regulatory Commission to promote RMB foreign exchange futures trading, enhancing Shanghai's role in global foreign exchange pricing [10].

非银行业深度研究 新旧金融的桥梁：稳定币如何重塑非银金融生态？ 2025 年 06 月 09 日 ➢ 什么是稳定币？稳定币是加密货币的一种特殊类型，其设计的核心目的是维 持加密货币价格的稳定，通常通过将其价值锚定到一种或者一篮子相对稳定的底 层资产来实现，主要锚定资产包括法定货币、其他加密货币、大宗商品以及算法 等。稳定币是加密资产货币生态系统中至关重要的基础设施，是提供价值稳定的 交易媒介，充当法币和加密货币之间交易的核心中介。 ➢ 稳定币的核心机制和分类。稳定币通过与某种类型的稳定资产（如美元、欧 元等法定货币、黄金等实物资产、一揽子资产或者算法等）挂钩，比如 1:1 锚定 美元，来降低相关加密货币的价格波动。从主要的锚定标的类型来看，主要可以 分为 4 类：1）法币抵押型；2）商品抵押型；3）加密货币抵押型；4）算法型。 ➢ 稳定币的核心价值：为何需要稳定币？稳定币在充当支付工具、价值存储、 便利交易等方面应用广泛。稳定币既充当计价单位，为加密世界提供了一个波动 性较低的"价值标尺"，让参与者能够清晰地衡量、比较和结算各种资产和交易的 价值，也充当加密生态中的"现金"等价物，满足相关避险需求，同时还能降 ...

Group 1 - The meeting was chaired by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, focusing on the development of Dubai's economic and financial sectors [1][2] - The committee is responsible for approving high-level economic and financial policies, reviewing industry laws and regulations, and enhancing transparency and governance [1] - A comprehensive long-term agenda for the development of Dubai's financial sector was reviewed, emphasizing key pillars such as attracting global capital and enhancing Dubai's position as a leading asset and wealth management center [2] Group 2 - The agenda includes support for startups and scaling businesses, with a focus on attracting unicorn companies [2] - There is a commitment to developing a competitive and innovative banking and investment environment, alongside promoting digital transformation in the financial sector through virtual assets and fintech [2] - The committee will also work on updating relevant laws and regulations to improve transparency and governance in the economic and financial services sectors [2]

中欧金融管理部门就优化市场准入、促进业务创新等具体诉求进行了充分沟通 金十数据5月14日讯，2025年5月13日至14日，中欧金融工作组第二次会议在比利时布鲁塞尔举行。中欧 金融管理部门认真听取了与会金融机构就金融数字化转型、金融科技创新等前沿领域提出的专业建议， 并就优化市场准入、促进业务创新等具体诉求进行了充分沟通。与会各方一致同意建立常态化交流机 制，共同推动中欧金融合作向更宽领域、更深层次发展。 ...

Group 1 - The second meeting of the China-Europe Financial Working Group was held in Brussels, Belgium, on May 13-14, focusing on global economic uncertainties and macroeconomic conditions [1] - Discussions included financial stability, banking and insurance regulation, and the development of pension funds and leasing companies [1] - Constructive discussions were held on emerging areas such as sustainable finance, cross-border data flow, and the construction of cross-border payment systems [1] Group 2 - A roundtable meeting for China-Europe financial institutions took place concurrently, where financial institutions provided professional advice on digital transformation and fintech innovation [1] - There was extensive communication regarding specific requests to optimize market access and promote business innovation [1] - All parties agreed to establish a regular communication mechanism to jointly promote deeper and broader financial cooperation between China and Europe [1]

Core Insights - The central viewpoint emphasizes the importance of enhancing service consumption to drive economic growth, particularly focusing on the income of the middle and low-income groups [1] Group 1: Service Consumption Development - Service consumption is defined as non-goods consumption that meets individual needs, encompassing various sectors such as dining, transportation, entertainment, education, and healthcare [1] - The development of service consumption is seen as a new growth point for the economy, improving employment and income distribution [1] Group 2: Targeting Specific Consumer Groups - Consumption finance companies are focusing on new urban residents, who represent a significant consumer base with evolving demands in housing, education, and healthcare [2] - By innovating service models and customizing financial products, these companies aim to meet the specific consumption needs of new urban residents [2][3] Group 3: Product Innovation and Service Upgrades - Companies like Xingye Consumer Finance are developing tailored financial products for high-frequency consumption scenarios, such as education and healthcare, to facilitate easier access to financial support [2][3] - Collaborative marketing and interest subsidies with merchants are strategies employed to lower consumption barriers for new urban residents [3] Group 4: Policy and Financial Technology - The National Financial Regulatory Authority has mandated financial institutions to enhance their product offerings to support service consumption and new consumption patterns [4][5] - Financial technology innovation is crucial for improving the quality and efficiency of consumption finance, with a focus on digital, green, and intelligent consumption scenarios [5] Group 5: Differentiated Technological Strategies - Various consumer finance companies are implementing unique technological innovations to address the credit challenges faced by underserved consumer groups [6] - The integration of emotional design principles into AI products aims to create a more empathetic and engaging customer experience [6][7] Group 6: Recommendations for Improvement - Experts suggest that to achieve a "warm" upgrade in consumption finance, companies should leverage big data and AI to understand consumer emotional needs better [7] - Optimizing intelligent interaction systems and establishing dynamic service mechanisms are recommended to enhance the overall consumer experience [7]

在竞争激烈的全球市场中，ATFX作为金融科技创新的领军品牌，于2025年第一季度再次凭借卓越的业 绩表现，巩固了其市场领导地位。行业权威媒体Finance Magnates最新发布的2025年第一季度数据报告 显示，ATFX以MT4/MT5总交易量高达7765亿美元的亮眼成绩，成功跻身全球交易量排行榜第七位，这 一成绩进一步凸显了其在全球金融服务行业中的领先地位。 股票类：同比2024年第一季度暴涨645.60%，环比2024年第四季度增长97.59%。 产品类别 比2024Q1 比2024Q4 +34.86% +25.98% 比2024Q4 比2024Q1 +106.43% +20.43% 比2024Q1 比2024Q4 +645.60% +97.59% 【以上资料来源于Finance Magnates 2025 第一季度报告】 在2025年一季度，ATFX贵金属交易量在同比和环比上均实现两位数增长，正是这一市场趋势的有力体 现，充分反映出全球经济波动时期，投资者对于避险资产配置需求的持续上升。 尤为引人注目的是，ATFX在一季度股票类交易量呈现出爆炸式增长，同比暴增645.60%，环比增长 97.59%， ...