来源：上海证券报·中国证券网 新疆维吾尔自治区，这片占祖国六分之一疆域的热土，亚欧大陆的腹心地带，正以蓬勃的发展姿态展现 新时代的崭新面貌。新疆，在党和国家一系列重大战略部署的引领下，正迎来高质量发展的重要机遇 期。 在新疆这片广袤而充满活力的土地上，小微企业正成为推动地方经济高质量发展的重要力量。作为服务 实体经济的生力军，乌鲁木齐分行加大普惠金融服务力度，建立专项工作机制、倾斜政策资源，并深入 千余家企业问需解难，在降低企业融资成本方面持续发力。今年上半年，分行普惠型小微企业贷款较年 初增长17.6%、综合融资成本较上年下降29BP，切实助力更多小微企业轻装上阵。 新疆某酒业的发展是分行支持小微企业成长的生动缩影。这家白酒生产和销售的企业曾面临资金周转压 力大、融资成本高等难题。去年，分行深入了解企业经营状况和发展需求，向企业发放了流动资金贷 款；今年，分行进一步落实减费让利政策，主动将贷款利率下调65BP，为企业节约融资成本。如今， 该企业市场占有率逐步提升、新疆地域品牌特色凸显，正计划进一步扩大产能，将新疆特色白酒推向更 广阔的市场。 发力绿色金融，赋能低碳转型 作为"五篇大文章"的重要组成部分，绿色 ...

美国汽车关联企业的经营破产接连发生。除了汽车零部件制造商难以承受隐性债务的沉重负担之外，提 供面向低收入者（次贷）的汽车贷款的企业也在资金周转方面陷入困境。这一情况令人联想起导致2008 年金融危机的住房贷款问题…… 美国汽车关联企业的经营破产接连发生。除了汽车零部件制造商难以承受隐性债务的沉重负担之外，提 供面向低收入者（次贷）的汽车贷款的企业也在资金周转方面陷入困境。这一情况令人联想起导致2008 年金融危机的住房贷款问题，有可能成为信贷市场的导火索。 负债总额高达500亿美元 美国汽车零部件厂商第一品牌集团（FBG）9月28日向德克萨斯州的联邦破产法院申请适用《联邦破产 法案》第11条。 美国一个停车场待售的二手车（资料图，Reuters） FBG是涉足火花塞和雨刷等汽车的更换零部件、主要通过零售店销售的非上市零部件制造商。马来西亚 出身的企业家帕特里克・詹姆斯（Patrick James）为老板兼首席执行官（CEO）。 提交的文件显示，FBG和相关公司合计的负债总额预计在100亿～500亿美元之间，负债的全貌尚未公 开。 成为问题的是被称为"供应链金融"的融资方法。由贷款人代为支付给供应商的零部件和原 ...

Core Insights - The introduction of the "Railway Freight Certificate" by Zheshang Bank in collaboration with China National Railway Group effectively addresses the financial pressures faced by commodity enterprises in railway transportation [1][2][5] Group 1: Industry Context - Railway freight is a crucial component of bulk commodity transportation, with national railway freight volume expected to exceed 5.1 billion tons in 2024, of which coal accounts for over 55% [2] - Transportation costs for coal can represent 15% to 30% of total procurement costs, influenced by factors such as distance and energy fluctuations [2] - The industry faces challenges with cash flow due to a common practice of "upstream cash, downstream credit sales," leading to significant capital occupation for freight payments [2][3] Group 2: Financial Innovation - The "Railway Freight Certificate" combines domestic letters of credit with railway logistics, allowing enterprises to pay freight using bank credit and repay later, streamlining the process [3][4] - The first transaction of this service was executed for Huainan Mining Group with a credit amount of 1 billion yuan, significantly alleviating their freight payment pressures [4] Group 3: Implementation and Expansion - Following the initial success, Zheshang Bank has expanded the "Railway Freight Certificate" service to other regions, including Chengdu, Beijing, and Xi'an, demonstrating a replicable model for various enterprises [4] - The service has been adopted by both state-owned energy groups and large private logistics companies, creating a positive demonstration effect [4][5] Group 4: Collaborative Benefits - The "Railway Freight Certificate" creates a win-win situation for railways, banks, and enterprises, ensuring timely freight payments and reducing financial costs for companies [5] - Zheshang Bank aims to deepen cooperation with China National Railway Group and expand the service nationwide, enhancing supply chain resilience and supporting high-quality economic development [6]

9月27日，玉湖冷链（武汉）交易中心在黄陂区正式开园。当天，美好、湾仔码头、双汇、亚洲渔港等300余家国内外冷链食品龙头企 业入驻园区，采购商、批发商、加工厂商和餐饮供应链服务商也纷至沓来，超百家商户成功实现采销对接，首日交易量达3000吨。 据了解，该项目总投资30亿元，是玉湖冷链在华中地区布局的规模最大、标准最高、功能最全的国际化冷链食品集中交易基地，这里 将建成国内外冻品源头代采、报关报检、园内交割、销端直达的一站式现代化冷链市场枢纽。 在店铺里忙着接待顾客的恒峰水产有限公司负责人徐德平笑着说，自己在玉湖冷链租用了容量300吨的冷库，计划开展线上平台同步 销售。"我是武汉本地人，之前在白沙洲做水产生意，销售的水产品八成是国产，两成则来自进口。" 武汉鲜美达供应链有限公司董事长邵玄武的店铺内同样人声鼎沸。去年6月，他参观完玉湖冷链广州园区回到武汉后，主动找到玉湖 冷链（武汉）交易中心的招商团队，预订了店铺和冷库，开仓后第一时间入驻园区。 "这里不是传统市场，而是能连接全国客商的高起点平台，每月有订货会、每周都有直播，我要搭'这条船'把产品推向全国。"徐德平 充满信心。 玉湖冷链（武汉）交易中心俯瞰图 EX ...

Core Insights - The report "White Paper on Reducing Corporate Financing Costs (2025)" focuses on the financing challenges faced by Chinese enterprises, particularly small and medium-sized enterprises (SMEs), analyzing the causes of high financing costs and proposing solutions [1][21] - SMEs contribute over 60% of GDP, 60% of tax revenue, 80% of employment, and 70% of technological innovation in China, yet they face a persistent "financing gap" due to issues like information asymmetry and inadequate credit systems [1][22] - The report emphasizes the need for a collaborative approach among enterprises, financial institutions, and the government to create a more equitable and efficient financing environment [12][24] Financing Challenges and Solutions - SMEs are crucial to China's economic growth and innovation but are hindered by high financing costs, which are exacerbated by structural issues such as information asymmetry and inadequate collateral [1][31] - The report identifies the transition from traditional bank-centered financing to a more diversified ecosystem driven by financial technology (FinTech), which addresses information asymmetry and enhances credit assessment [21][22] - Innovative financing models, such as supply chain finance and intellectual property pledge financing, are highlighted as effective ways to unlock the value of intangible assets and improve access to capital [21][23] Financial Technology and Innovation - FinTech is reshaping the financing landscape for SMEs, with technologies like big data, artificial intelligence, and blockchain providing new ways to assess creditworthiness and streamline loan approval processes [21][22] - For instance, the "AI Approval Officer" from Qifu Technology can reduce loan approval times from T+3 to T+0, significantly enhancing efficiency [22][48] - The report also discusses the role of ESG (Environmental, Social, and Governance) criteria in reducing financing costs, with evidence showing that a one standard deviation improvement in ESG ratings can lower debt financing costs by approximately 5.17% [21][22] International Comparisons and Best Practices - The report draws on international experiences, such as the U.S. SBA loan guarantee system, Germany's KFW refinancing model, and South Korea's KODIT technology credit guarantee, to provide insights for improving China's financing ecosystem [21][23] - These models emphasize the importance of government support and innovative financing mechanisms to bridge the financing gap for SMEs [21][23] Policy Recommendations - The report suggests a systematic optimization of the financing ecosystem, including structural reforms in the financial system, innovation in institutional frameworks, and the establishment of a unified credit information platform [23][24] - It advocates for enhancing cross-border financing facilitation and leveraging the internationalization of the RMB to reduce exchange rate risks for enterprises [23][24] - The need for a forward-looking policy design that supports "new productive forces" and explores innovative financing models, such as data asset financing, is also emphasized [23][24]

作为总部设在山东的唯一一家全国性股份制商业银行,恒丰银行始终深度融入国家和区域发展战略。恒 丰银行青岛分行紧扣青岛经济结构调整步伐,围绕"10+1"重点产业方向,以做好金融"五篇大文章"为主线, 踔厉奋发、勇毅前行,在承接立行初心与使命的基础上实现新升华。该行更以深耕山东半岛的金融力量, 锚定国家战略与地方发展大局,立足青岛"海洋强市"定位与山东"建设世界级海洋港口群"目标,以创新金 融产品为笔、以全链条服务为墨,在港口经济、跨境贸易两大领域精准发力,为区域经济高质量发展注入 源源不断的金融动能。 深耕港口经济 链动三方破局 筑牢海洋经济"压舱石" "港兴则城兴,港强则经济强。"山东港口集团作为全球吞吐量最大的港口集团,其发展牵动着整个北方海 洋经济的脉络。恒丰银行青岛分行深谙港口经济"牵一发而动全身"的特性,从深入研判港口企业经营规 律、生产周期、行业特性入手,构建起"银行+平台+核心企业"的协同服务模式,让金融服务与港口产业链 深度融合。 此前,恒丰银行青岛分行与山东港口金控公司旗下"山港易付"平台紧密合作,通过"恒银E链"产品为山东省 港口集团子公司黄河三角洲建设工程有限公司上游供应商打通线上融资渠道, ...

自今年4月起，华兴银行肇庆分行围绕该生物科技公司供应链条，精准对接上游原料收储、物流运输、 包装耗材等 19家小微企业的融资需求，为其提供便捷高效的融资渠道，单户平均提款额达260万元。此 举不仅解决了小微企业"融资难、融资慢"的痛点，更促进了核心企业与上游伙伴的互利共赢，为产业链 健康发展奠定坚实基础。 未来，华兴银行肇庆分行将持续深化"1+N"供应链金融场景建设，重点聚焦制造业、民营经济、绿色产 业、涉农领域等关键方向，不断优化金融服务模式、创新金融产品，为更多肇庆小微企业提供高效、优 质、深度的金融支持，为地方经济高质量发展贡献更强劲的"华兴力量"。 广东华兴银行聚焦供应链核心企业上游客户，推出了线上化供应链金融产品"兴付贷"，基于核心企业向 我行提交的代理付款承诺函以及在我行获批的综合授信额度，供应商可基于核心企业授信额度申请保理 融资提前回款，我行也可在应付账款到期日向上游供应商代理付款。以产业链、场景式服务方案支持中 小微企业融资。 作为华兴银行供应链金融的特色产品，"兴付贷"具备显著优势：既能帮助企业在不占用大量自有资金的 前提下，顺利开展原材料采购等核心业务，有效降低融资成本、提升资金使用效率 ...

Core Viewpoint - The introduction of the "Railway Freight Certificate" by Zheshang Bank in collaboration with China National Railway Group effectively alleviates the financial pressure faced by bulk commodity enterprises in railway transportation, marking a significant advancement in financial and logistics integration [1][2]. Group 1: Industry Context - Railway freight is a crucial component of bulk commodity transportation, with national railway freight volume expected to exceed 5.1 billion tons in 2024, of which coal accounts for over 55%, translating to an annual volume of approximately 2.8 billion tons [2]. - Transportation costs for coal can constitute 15% to 30% of total procurement costs, influenced by factors such as transport distance, loading efficiency, and energy price fluctuations [2]. Group 2: Financial Innovation - The "Railway Freight Certificate" combines domestic letters of credit with railway logistics, allowing enterprises to pay freight using bank credit and repay later, thus streamlining the payment process [3]. - The process is fully online, enabling companies to generate freight bills on the national railway platform and apply for certificates without the need for physical documentation, with the possibility of a repayment period of up to one year [3]. Group 3: Implementation and Impact - The first transaction of the "Railway Freight Certificate" was successfully executed for Huainan Mining Group, with a certificate amount of 100 million yuan, significantly easing their freight payment pressures [4]. - Following the initial success, Zheshang Bank has expanded the service to other regions, including Chengdu, Beijing, and Xi'an, demonstrating a growing adoption among both state-owned and large private logistics enterprises [4]. Group 4: Collaborative Benefits - The "Railway Freight Certificate" creates a win-win situation for the railway bureau, banks, and enterprises, ensuring timely freight payments, reducing financial costs for companies, and expanding financial service opportunities for banks [5]. - This innovation reflects Zheshang Bank's commitment to enhancing supply chain financial services, having supported over 85,000 small and medium-sized enterprises in various sectors by mid-2025 [6].

金秋时节，齐鲁大地五谷丰登，瓜果飘香，处处洋溢着丰收的喜悦。从黄海之滨的现代化海洋牧场，到沂蒙 山区的特色农产品种植基地；从黄河三角洲的智慧农业示范区，到胶东半岛的乡村旅游特色村落，一幅农业强、 农村美、农民富的壮美画卷正在缓缓展开。作为根植山东的地方法人银行，青岛银行始终将服务"三农"、支持乡 村振兴视为重要使命和责任担当，以金融活水精准滴灌田间地头，用实干和创新绘就乡村振兴的崭新篇章。 聚焦产业兴旺赋能现代农业发展 山东省是农业大省，有寿光蔬菜、大蒜、黄三角对虾、沿黄肉牛等多个国家级产业集群，还有苹果、生姜、 水产品、预制菜等多个省级产业集群，青岛银行聚焦特色产业集群，在全省研究开展了"一县一品"特色项目，针 对省内特色重点农业产业制定授信指引，通过实施差异化政策打造"一县一强品"，挖掘县域优势产业，打造特色 信贷品牌，让涉农业务走进齐鲁大地，踏实做好金融支持乡村振兴工作。 邹城市是我国北方最大的食用菌生产基地之一，素有"中国食用菌之乡"的美誉，食用菌产业链条上的核心群 体包括种植核心企业、原材料供应商、加工企业、经销商，青岛银行基于邹城市食用菌特色产业优势，打造了食 用菌产业集群专属营销方案，并基于行业 ...

中药材交易行业长期面临"小、散、乱"困境，规范化与现代化程度不足。传统交易依赖线下市场和个体 商户，信息不对称、价格机制不透明，致使药材价格差异大、品质参差不齐，影响用药安全与行业信 誉，制约产业高质量发展。 作为全国首家且安徽省唯一具备大宗中药材现货交易资质的亳州中药材商品交易中心(以下简称交易中 心)，历经5年市场调研与体系建设，于2025年国际(亳州)药博会期间正式启动"中药材大宗交易平台"升 级焕新，以多项突破性机制重塑行业生态。 中药材产业迎来标准化、金融化升级契机 近年来，《国务院办公厅关于印发"十四五"中医药发展规划的通知》等政策频出，从多维度引导行业规 模化、规范化、高质量发展。 在国家政策的大力推动下，中药材行业迎来新一轮发展机遇。亳州作为全国最大的中药材集散地，产业 模式的转型升级亦受到行业广泛关注。 中药材大宗交易平台率先推出仓单交易模式，实现药材标准化存管与便捷流转，并开设挂牌交易专场， 精准聚焦细分品种与特定交易场景，极大提升了交易效率与针对性。通过全流程线上化与电子仓单系 统，有效解决了传统现货交易中存在的效率低下、成本高昂及透明度不足等痛点，平台立足现货交收与 实体供应链建设，切 ...