转自：新华财经 近期，兴业银行济南分行成功为山东某粮油企业高效核定国际业务融资额度，助力企业出口业务拓展。 该企业是集花生种植、加工、销售于一体的农业产业化国家重点龙头企业，其产品连续多年出口量全省 第一。近期客户刚完成生产线技术改造，产能进一步扩大，企业急需一笔资金进口巴西花生仁。了解到 客户情况后，兴业银行济南分行"金融特派员"主动上门对接，收集客户资料，对企业的进出口实绩、履 约能力等关键要素进行快速、客观评估，为客户发起积分卡授信审批，仅用时一周便为企业核定1000万 贸易融资额度，解决了企业燃眉之急。企业负责人表示："兴业银行贷款审批简单高效，为我们外贸企 业提供了实实在在的便利。" 一笔笔及时到位的信贷资金，一项项量身打造的金融方案，正成为稳住外贸基本盘的重要力量。兴业银 行济南分行相关负责人表示，将持续加大对外贸企业的支持力度，不断创新金融产品与服务模式，促进 外贸企业高质量稳定增长。（张永华） 编辑：穆皓 为进一步落实国家"稳外贸"政策导向要求，兴业银行总行于2025年5月创新推出"外向型企业积分卡授信 审批方案"。该方案基于外向型企业经营特点、行业地位及特征、财务状况、年度进出口额等因素设置 ...

Core Viewpoint - The report emphasizes a proactive fiscal policy aimed at stabilizing employment, businesses, and market expectations, while enhancing coordination with other policies to support economic recovery [1] Group 1: Fiscal Policy Implementation - The fiscal policy since 2025 has been more proactive, focusing on stabilizing employment, businesses, and market expectations [1] - Fiscal revenue has been recovering, with tax revenue gradually increasing, and necessary expenditures being maintained [1] - The strategy of expanding domestic demand is emphasized, promoting a positive interaction between consumption and investment [1] Group 2: Key Areas of Focus for Future Fiscal Policy - The report outlines six key areas for future fiscal policy, including effectively utilizing proactive fiscal measures and ensuring the safety and efficiency of fund usage [2] - Support for employment and foreign trade is prioritized, with measures to stabilize job positions and assist businesses in maintaining operations [2] - There is a focus on fostering new growth drivers through innovation and supporting the digital transformation of small and medium enterprises [3] Group 3: Social Welfare and Risk Management - The report highlights the importance of improving social welfare, particularly for the elderly and children, through various subsidies and educational initiatives [3] - Continuous efforts are being made to prevent and mitigate risks in key areas, including strict management of local government debt and monitoring of fiscal operations [3] - Enhancements in fiscal governance effectiveness are emphasized, with a focus on fiscal resource management and compliance with fiscal regulations [4]

Core Insights - The report highlights the strong vitality and resilience of China's economy in the first half of 2025, with significant achievements in high-quality development and proactive fiscal policies aimed at stabilizing employment, enterprises, markets, and expectations [1] Fiscal Performance - China's fiscal operations in the first half of 2025 were generally stable, with good budget execution. The central government allocated 300 billion yuan for long-term special bonds to support the consumption of old goods, doubling the funding compared to 2024 [2] - A total of 1,620 billion yuan of these special bonds has been pre-allocated, driving sales exceeding 16 trillion yuan and contributing to a 5% year-on-year increase in retail sales of consumer goods, which is 1.5 percentage points higher than the full year of 2024 [2] - The central government issued 5,550 billion yuan in special bonds in the first half of 2025, with a new special bond limit of 4.4 trillion yuan fully allocated to local governments [2] Support for Innovation and Employment - The central budget for basic research increased by 12.1% compared to the previous year, with 6 billion yuan allocated to support local technological development [3] - Over 2,200 small and medium-sized enterprises in technology innovation received approximately 90 billion yuan in loans through a special guarantee plan [3] - Employment support funds of 66.74 billion yuan were allocated to assist local implementation of social insurance and vocational training subsidies [3] Future Fiscal Policy Directions - Future fiscal policies will focus on six areas: effectively utilizing proactive fiscal policies, supporting employment and foreign trade, fostering new development momentum, improving living standards, preventing risks in key areas, and enhancing fiscal governance [3] - The Ministry of Finance aims to ensure efficient budget execution and improve the effectiveness of fund usage while promoting consumption and supporting key sectors [4] Employment and Trade Stability - The Ministry of Finance plans to intensify employment stabilization policies, support public employment services, vocational training, and job retention efforts [4] - There will be a focus on helping enterprises stabilize orders, transition to domestic sales, and expand markets, addressing practical challenges faced by businesses [4]

Group 1 - The price of coke has increased, with wet coke rising by 50 yuan per ton and dry coke by 55 yuan per ton, effective from November 10, marking the fourth round of price hikes [1] - The Ministry of Finance has announced support for stabilizing employment and foreign trade, encouraging enterprises to stabilize orders and expand domestic sales, which is a positive signal for the economy and consumption [1] - The National Energy Administration has released plans to accelerate the development of photovoltaic and wind power industries in mining areas, indicating a favorable outlook for clean energy sectors [1] Group 2 - The State Council emphasized the promotion of application standards for unmanned systems in land and sea, and the strengthening of key technologies in artificial intelligence, which could create short-term opportunities in the tech sector [2] - Two departments have issued a significant announcement regarding export controls on superhard materials, rare earths, and lithium batteries, which may impact these industries [2] - The central bank has increased its gold reserves for the twelfth consecutive month, which is a positive for the gold sector, although previous speculation may limit high expectations [2]

Core Insights - The Ministry of Finance released the "2025 Mid-Year Report on China's Fiscal Policy Implementation," highlighting a more proactive fiscal policy aimed at stabilizing employment, enterprises, and market expectations [1][2]. Group 1: Fiscal Policy Overview - The report emphasizes the need for a more active fiscal policy to boost consumption and investment, with a focus on stabilizing employment and foreign trade [1]. - Fiscal operations in the first half of 2025 were stable, with good budget execution [1]. Group 2: Specific Measures - The report outlines six key areas for future fiscal policy, including enhancing fiscal management, supporting employment and foreign trade, and improving people's livelihoods [2][3]. - Specific actions include implementing consumption-boosting initiatives, providing fiscal subsidies for personal consumption loans, and encouraging private investment [3]. Group 3: Asset Management and Efficiency - The Ministry established a national platform for the adjustment and sharing of state-owned assets, successfully completing over 200 asset adjustments and saving over 40 million yuan in budget funds [2]. - The report indicates that pilot programs for fiscal management are underway in 12 provinces, aiming for significant progress in two years [2].

Core Viewpoint - China's foreign trade is under pressure but showing signs of stability and improvement, with the Ministry of Commerce planning to enhance policy effectiveness, promote trade, and deepen trade cooperation [1][2][8] Group 1: Trade Performance - In the third quarter, China's goods trade imports and exports grew by 6% year-on-year, marking eight consecutive quarters of growth [2] - By September, both exports and imports had seen four consecutive months of year-on-year growth, with significant contributions from major provinces [7] - The western region's foreign trade maintained strong momentum, with a 10.2% year-on-year increase in imports and exports [7] Group 2: Policy Measures - The Ministry of Commerce will focus on three areas: releasing policy effectiveness, promoting trade, and deepening trade cooperation [2] - New policies will prioritize digital trade, green trade, and service trade as emerging growth engines [4] - Specific measures include enhancing financial services for foreign trade enterprises and optimizing customs processes [5] Group 3: Structural Changes and Challenges - Current challenges for foreign trade enterprises include costs, orders, and risks, necessitating a closed-loop response from problem identification to policy solutions [4] - Experts note that global economic recovery is uneven, and geopolitical tensions are adding structural and cyclical risks to foreign trade [3] - The transition towards high-tech and high-value-added sectors is critical for China's foreign trade, requiring diverse policy tools to support emerging business models [3] Group 4: Regional Development - The development of foreign trade is characterized by a new pattern of "coastal leadership, inland rise, and border breakthroughs," with tailored local measures enhancing trade performance [7] - The western land-sea new channel has seen significant growth, with container shipments increasing by 70.3% year-on-year [7] Group 5: Future Outlook - With the timely introduction of new policies and the continuous release of enterprise innovation, China's foreign trade is expected to withstand short-term pressures and achieve sustained growth on a high-quality development track [8]

Core Viewpoint - The article emphasizes the importance of stabilizing foreign trade in the context of a complex and uncertain global economy, highlighting the proactive role of the Bank of Communications Henan Branch in supporting foreign trade enterprises [1][2]. Group 1: Financial Support for Foreign Trade Enterprises - The Bank of Communications Henan Branch has taken responsibility for providing financial services to the real economy, focusing on foreign trade enterprises, particularly in the used car import and export sector [1]. - As of September 2025, the bank has opened foreign currency accounts for 23 key foreign trade enterprises, with a related loan balance of 36.78 million yuan, reflecting a year-on-year increase of over 600% and a 10 basis point reduction in financing costs [1]. - The bank has improved customer experience by enhancing cross-border settlement and comprehensive financial services, utilizing the "cross-border RMB settlement facilitation" pilot to help enterprises increase capital turnover efficiency [1]. Group 2: Innovation and Collaboration - The Bank of Communications Henan Branch has strengthened cooperation with government departments, establishing an information exchange mechanism to integrate key data such as customs clearance and tax refunds [2]. - The bank has innovated financial products tailored to foreign trade enterprises, relying on a customized credit assessment system to enable "instant approval" for loans [2]. - Future plans include deepening scenario-based innovative services and enhancing financial service capabilities to better support enterprises [2].

Core Viewpoint - The article emphasizes the importance of stabilizing foreign trade in the context of a complex and uncertain global economy, highlighting the proactive role of the Bank of Communications Henan Branch in supporting foreign trade enterprises [1][2]. Group 1: Financial Support for Foreign Trade Enterprises - The Bank of Communications Henan Branch has taken responsibility for providing financial services to the real economy, focusing on foreign trade enterprises, particularly in the used car import and export sector [1]. - As of September 2025, the bank has opened foreign currency accounts for 23 key foreign trade enterprises, with a related loan balance of 36.78 million yuan, representing a year-on-year increase of over 600% [1]. - The financing cost for these enterprises has decreased by 10 basis points, and the bank has improved customer experience by enhancing cross-border settlement and comprehensive financial services [1]. Group 2: Innovative Financial Products and Services - The Bank of Communications Henan Branch has strengthened cooperation with government departments to establish an information exchange mechanism, integrating key data such as customs clearance and tax refunds [2]. - The bank has innovated financial products tailored to foreign trade enterprises, utilizing a customized credit assessment system to enable "instant approval" for loans [2]. - Future plans include deepening scenario-based innovative services to enhance financial service capabilities for enterprises [2].

Core Insights - China's foreign trade has shown resilience and positive growth in the first three quarters of the year, with a 4% year-on-year increase in goods import and export in RMB terms, marking eight consecutive quarters of positive growth [2] - The export of high-end equipment, wind power equipment, and energy storage products has maintained double-digit growth, indicating a strong upward trend in foreign trade [2] - The proportion of trade with countries involved in the Belt and Road Initiative has increased to 51.7%, and imports from the least developed countries with which China has diplomatic relations have grown by 9.7%, significantly outpacing overall growth [2] Trade Enterprises and Policy Support - The number of foreign trade enterprises with import and export performance has reached 700,000, surpassing the total for the previous year [3] - Despite a complex global economic environment, China's foreign trade is expected to respond with greater resilience, vitality, and cooperation [3] - The Ministry of Commerce plans to continue releasing policy effectiveness, implementing existing policies, and enhancing financial and employment support for foreign trade enterprises [3] Trade Promotion and Agreements - The 138th Canton Fair will introduce measures to benefit enterprises, including waiving fees for offline booths and online platforms [3] - The government will support enterprises in participating in various domestic and international exhibitions and will continue to organize trade promotion activities [3] - There is a focus on signing more high-standard free trade agreements and increasing the proportion of zero-tariff products in goods trade, particularly for countries in Africa [3]

Core Insights - China's foreign trade has shown resilience in the first three quarters of the year, with a year-on-year increase of 4% in goods imports and exports measured in RMB, marking eight consecutive quarters of positive growth [1] - Exports of high-end equipment, wind power equipment, and energy storage products have maintained double-digit growth [1] - The proportion of trade with countries involved in the Belt and Road Initiative has increased to 51.7% [1] - The number of foreign trade enterprises with actual import and export performance has reached 700,000, surpassing the total for the previous year [1] Policy Implementation - The Ministry of Commerce will focus on three main areas: enhancing policy effectiveness, promoting trade, and deepening trade cooperation [2] - There will be an emphasis on implementing existing policies in the foreign trade sector, providing financial and employment support to foreign trade enterprises, and ensuring timely communication of policies [2] - The 138th Canton Fair will introduce measures to reduce costs for enterprises, including waiving fees for offline booths and online platforms [2] Trade Promotion - The Ministry will support enterprises in participating in various domestic and international exhibitions and will continue to organize trade promotion activities [2] - There will be dynamic updates to the "Foreign Trade Promotion Information" and "Country Trade Guides" to provide more overseas market information to enterprises [2] Trade Cooperation - The Ministry aims to sign more high-standard free trade agreements and enhance the openness of existing agreements [2] - There will be an increase in the proportion of zero-tariff products in goods trade and the implementation of 100% zero-tariff measures for products from African countries with diplomatic relations [2] - The Ministry will leverage platforms like the China International Import Expo to expand the import of quality products [2]