Group 1: Central Bank and Financial Regulations - The People's Bank of China has released a draft for the "Rules for Cross-Border Payment System" to enhance the management mechanism of CIPS, addressing account management, funding settlement, and risk management [1] - The draft includes six chapters and thirty-one articles to adapt to the ongoing optimization and functional upgrades of CIPS [1] Group 2: Consumer Finance Industry - In the first half of 2025, seven consumer finance companies issued a total of 12.1 billion yuan in financial bonds, a decrease of approximately 40% year-on-year [1] - Despite the decline in issuance, low-interest rates have allowed some financial bonds to drop below 2%, aiding in cost reduction and liability optimization [1] - The consumer finance industry is diversifying its financing channels, with ABS and syndicated loans becoming more mainstream [1] Group 3: Banking Sector Performance - JiuTai Rural Commercial Bank is expected to report a net loss of 1.7 to 1.9 billion yuan for 2024, leading to a cash offer for its shares and the initiation of delisting procedures [2] - The bank's performance has deteriorated significantly, with revenue and net profit shrinking, and an increase in non-performing loan rates [2] - China Resources Bank has seen a notable decline in performance, with a 67.97% drop in net profit for 2024 and a further 74.22% decrease in the first quarter of 2025 [2] Group 4: Audit and Compliance - Huishang Bank has appointed KPMG as its new auditing firm for the 2025 fiscal year, replacing Ernst & Young [3] Group 5: Innovative Banking Services - Shanghai Pudong Development Bank has launched "pet-friendly" branches, providing amenities for pet owners and introducing themed financial products [3] - The bank aims to enhance customer experience while fulfilling social responsibilities through community engagement and support for stray animals [3] Group 6: Fund Custody Qualification - Chongqing Rural Commercial Bank has obtained fund custody qualifications, becoming the first commercial bank to do so in 2023 [4] - A total of 37 banks have now received fund custody qualifications, including various categories of banks [4]

Group 1: Company Announcements - Xinhua Insurance plans to invest 11.25 billion yuan to subscribe to the third phase of the Guofeng Xinghua Honghu Zhiyuan private equity fund [4] - China Shipbuilding has received approval from the Shanghai Stock Exchange for the absorption and merger with China Shipbuilding Industry Corporation [4] - Guotou Zhonglu intends to acquire 100% of China Electronic Engineering Design Institute [4] - Shaoyang Hydraulic plans to purchase 100% of Xincheng Hangrui [4] - Times New Material has signed a sales contract for wind turbine blades worth 2.711 billion yuan [4] - Guangdong Construction has jointly won a construction project for an energy storage power station valued at approximately 1.888 billion yuan [4] - Hongsheng Huayuan's subsidiary is expected to win a bid for a Southern Power Grid project worth 1.127 billion yuan [4] - Huohua Co. has jointly won a bid for a shared energy storage demonstration project valued at 449 million yuan [4] - Zhuhai Group's net profit for the first half of the year is expected to increase by 50.97% to 752.3 million yuan [4] - Sankeshu's net profit for the first half of the year is expected to increase by 80.94% to 1.1904 billion yuan [4] - Huixue Wine's net profit for the first half of the year is expected to increase by approximately 559% [4] - Gari Xian Co.'s net profit for the first half of the year is expected to increase by 144% to 1.99 billion yuan [4] - Haitong Development's net profit for the first half of the year is expected to decrease by 60.78% to 690.4 million yuan [4] - Huaming Intelligent's stock will be subject to other risk warnings [4] - ST Xinchao will implement delisting risk warnings starting July 8 [4] Group 2: Industry Developments - The Ministry of Housing and Urban-Rural Development emphasizes the importance of promoting stable, healthy, and high-quality development in the real estate market [2] - The State-owned Assets Supervision and Administration Commission has issued opinions on promoting high-quality brand building among central enterprises, aiming for significant brand value enhancement by 2030 [2] - The China Securities Association has developed a model text for algorithmic trading agreements, detailing trading behavior management and high-frequency trading management [2] - The Shanghai and Shenzhen Stock Exchanges have revised and released ETF risk management guidelines, focusing on risk prevention and management for fund managers and member clients [2]

Domestic News - The Ministry of Commerce stated that both teams are working to implement the results of the London framework regarding the cancellation of trade restrictions between the US and China [2] - The Ministry of Housing and Urban-Rural Development emphasized the need for multiple measures to stabilize expectations, activate demand, optimize supply, and mitigate risks to promote the recovery of the real estate market [3] - The Chinese government plans to compress the originally scheduled two-day China-Europe leaders' meeting, with both sides agreeing to maintain communication on specific arrangements [3] International News - The US is set to issue a tariff letter with a floating range of 10%-70%, effective August 1, as part of trade negotiations [4] - The OPEC+ meeting has been moved up to Saturday, with expectations to agree on an increase in production by 411,000 barrels per day in August [4] - The US government has notified General Electric Aviation that it can resume supplying jet engines to China's COMAC [6]

Core Viewpoint - The People's Bank of China is revising the rules for the Renminbi Cross-Border Payment System to meet the needs of its business development, and is currently seeking public feedback on the draft rules [1] Group 1 - The revision is aimed at adapting to the evolving requirements of cross-border payment services [1] - The new draft is titled "Rules for the Renminbi Cross-Border Payment System (Draft for Public Consultation)" [1] - The consultation process is open to the public, indicating a move towards greater transparency and stakeholder engagement [1]

Group 1 - Multiple financial measures announced to support high-level opening-up [9] - The transaction volume of green electricity in China exceeded 220 billion kilowatt-hours in the first five months [13] - The completion rate of key reform tasks for state-owned enterprises has surpassed 80% [11] Group 2 - International oil prices significantly increased on June 17 due to the situation in the Middle East [17] - U.S. retail sales fell by 0.9% month-on-month in May [19]

Group 1 - The core viewpoint of the article highlights the shifting dynamics in the global payment system, where despite the long-standing dominance of the US dollar, its influence is showing signs of decline, while the euro is gaining ground [1][4][6] - As of April 2025, the US dollar's share in global payments rose to 49.68%, marking an eight-month high, while the euro's share increased to 22.24% [4][6] - The Chinese yuan's share in global payments decreased by 0.63 percentage points to 3.5%, falling to fifth place behind the yen, which saw a rise in demand due to low interest rates [4][22][25] Group 2 - The article discusses the ongoing trend of "de-dollarization," where countries like the UAE, India, China, and Thailand are exploring the use of local currencies for cross-border transactions to reduce reliance on a single currency system [9][11] - The euro, once seen as a strong challenger to the dollar, has struggled due to structural issues within the Eurozone, particularly highlighted by the economic impact of the Russia-Ukraine conflict [15][19] - The yuan's decline in global payment share is attributed not solely to trade tensions but also to a surge in demand for the yen, which has affected the relative standing of the yuan [22][25][30] Group 3 - The article emphasizes that the international status of a currency is influenced by factors such as economic scale, technological strength, and the maturity of financial markets, adhering to the principle that "strong economies lead to strong currencies" [34][36] - The current discussions around de-dollarization reflect countries' awareness of the risks associated with a single currency, aiming to create a more diversified international monetary system where multiple currencies can coexist and compete [36][38]