6 September 2025 | 1:13AM HKT China Weekly Kickstart MXCN rallied 2% while A-shares corrected 1%; Beijing held a military parade; S&P Global services PMI beat consensus in August MXCN rallied 1.9% while CSI 300 corrected 0.8%. Beijing held a military parade on Sep 3 to commemorate the 80th anniversary of the victory of the Chinese People's War of Resistance Against Japanese Aggression and the World Anti-Fascist War. The "Shanghai Cooperation Organization+" meeting was held in Tianjin on Sep 1. The central g ...

ab 2 September 2025 Global Research Global Economic Perspectives US recession probability: stable but elevated US hard data in July overall weak, but stable: recprob at 93% With the BEA's monthly personal income (and personal consumption expenditures) release, we have all the information in hand for a full hard data picture for July, as seen through the lens of our leading indicator factor model (see here for details). Recall that the factor extracts a signal net of surveys, PMIs and financial data...just t ...

Accessible version Global Equity Volatility Insights China AI…the biggest bubble potential? Post summer nerves on cue…prefer fixed strike hedges After notching four straight months of equity gains, the post-Labor Day nervousness seems to be on cue (see Low vol looks unsustainable into Fall risks). Notably, numerous near-term macro catalysts, starting with this week's payroll print, and persistent policy uncertainty could test equity resilience. While we maintain our longer-term view of an AI bubble having f ...

Global Research China Equity Strategy Synopsis of China A-share Conference 2025 ab 3 September 2025 The 22nd China A-share Conference - China's defining moment was held 1-2 Sep followed by 3 days of onshore research tours. We held 15 keynote panel discussions and hosted 100+ companies across the spectrum of technology, consumer, healthcare, new energy, materials, automation and industrials. The two-day main tracked covered most discussed topics including macro outlook, geopolitics, AI, renewables, healthcar ...

Market Performance - The S&P 500 reached a new high on Thursday, despite a 4-day trading week due to the Labor Day holiday [1] - Out of the 4 trading days, 3 were down and only 1 was up, but the single up day compensated for the losses [1] Analyst Background - The individual mentioned has 28 years of experience as a professional trader, analyst, and portfolio manager, previously running the equity trading desk at Northern Trust Co. in Chicago [1] - Currently, the individual is a private investor and the founder of a nonprofit investor advocacy firm, with an average annual return of 17.2% since January 2009 [1]

来源：上海证券报·中国证券网 上证报中国证券网讯（记者 黄坤）中国人民银行镇江市分行近日披露的行政处罚决定信息显示，因违 反金融统计管理规定，违反账户管理规定，违反信用信息采集、提供、查询及相关管理规定，未按规定 履行客户身份识别义务，江苏镇江农村商业银行被警告，并处罚款85.3万元。 ...

Core Viewpoint - The efficiency and quality of coin exchange services provided by banks reflect the commitment to financial inclusion and the implementation of financial policies that benefit the public, even in an era dominated by digital payments [2]. Group 1: Service Efficiency - A merchant at a market exchanged a large amount of coins accumulated over six months, demonstrating the necessity of coin exchange services in daily life [2]. - The bank staff efficiently processed nearly a thousand ten-cent coins in just half an hour, showcasing the effectiveness of the service [2]. Group 2: Customer Experience - The customer expressed gratitude for the quick service, highlighting the positive impact of efficient coin exchange on customer satisfaction [2]. - The bank's approach to handling customer concerns with patience and accuracy reinforces the importance of quality service in financial institutions [2]. Group 3: Commitment to Community - Jiangnan Rural Commercial Bank's Lihe branch emphasizes its responsibility towards community welfare through attentive service and efficient operations [2]. - The branch plans to standardize its service experience to ensure consistent and high-quality financial services for the community [2].

此次活动通过光影载体，让全体党员在铭记历史中淬炼党性、砥砺初心。大家一致表示，要将精神力量 融入服务地方经济高质量发展的具体实践，以更加扎实的工作成效，诠释新时代党员的忠诚与担当。 (庄琴) 这不仅是一次历史回顾，更是一堂深刻的理想信念教育课。影片启示我们，唯有国家强大、民族觉醒， 才能真正守护和平与尊严。全体党员应从历史中汲取教训，将观影激发的爱国情怀和使命感，转化为立 足岗位、奋发作为的内生动力，坚守金融工作的政治性，把对党忠诚、服务人民融入日常工作。 观影后，党员们结合岗位展开了热烈讨论。青年党员表示，更加理解了民族之痛与精神脊梁，今后要将 这份触动转化为服务客户的温度与专业。资深员工谈到，金融人同样需要担当精神，要服务实体经济、 守护百姓财产安全，坚守风险底线，践行金融为民。 江南时报讯 为深化党史学习教育，筑牢理想信念根基，近日，苏州农商银行泰州分行党支部组织全体 党员集中观看重大历史题材影片《南京照相馆》。 影片以一家小小照相馆为窗口，透过普通人的视角，冷静而深刻地再现了南京大屠杀期间民众经历的苦 难与不屈抗争。历史的残酷与人性的光辉形成强烈对比，让在场党员深受震撼。大家神情肃穆，许多同 志眼含热 ...

经营压力下，银行业息差保卫战持续白热化。这个周末，瑞丰银行召开2025年息差管控案例比拼大赛， 引起业内关注。 从半年报数据来看，银行业息差仍面临下行压力，但降幅已有边际收窄趋势。综合各行业绩会透露的信 息，接下来，存款和贷款利率都还有下降空间，对资产负债结构的调控、定价"反内卷"等是稳息差的重 要方向。 今年上半年，42家A股上市银行中，净息差排在前三位的分别是常熟银行、招商银行、长沙银行；排在 后三位的是紫金银行、上海银行、厦门银行，其中厦门银行以1.08%的净息差垫底。上半年，仅西安银 行、重庆银行、齐鲁银行净息差逆势上行，江阴银行、贵阳银行、长沙银行、紫金银行净息差下降仍超 过20BP（基点）。 瑞丰银行内部进行息差管控大PK 吴智晖在现场表示，全行要优机制、明责任、强执行，并对息差管控提出了多项要求。其中提到，要清 醒认识到息差管控的重要性和紧迫性，总行要担起首要责任，中层干部要发挥"枢纽"作用，基层一线要 筑牢"前沿阵地"，要将息差管控植入到每一项业务、每一个流程、每一位员工的日常行动中，形成"人 人关心息差、人人贡献息差"的良好氛围。 半年报显示，今年上半年，瑞丰银行净息差为1.46%，较去年下 ...

当数字化转型从银行业的战略共识迈向实战攻坚，首席信息官正从幕后技术管理者走向台前，成为决定银行数字竞争力的关键角色。2025年以来，郑州银 行、上饶银行等多家中小银行密集启动首席信息官社会选聘，北京银行、浙江农商联合银行等机构的首席信息官"就位"，一场围绕"数字金融操盘手"的人才 布局热潮在中小银行间加速铺开。 分析人士称，中小银行首席信息官要真正发挥"数字金融战略操盘手"作用，需突破人才储备有限、数据治理基础薄弱及技术架构历史包袱较重等难点。其成 功关键在于将宏观战略与银行自身资源禀赋精准结合，在有限资源条件下做出明智的技术选型和实施路径选择，推动技术能力切实转化为业务价值，最终实 现以数字化驱动业务创新和效率提升的战略目标。 抢人！中小银行首席信息官"海选"潮起 又一家地方性银行加入首席信息官"抢人"阵营。郑州银行日前发布总行首席信息官"海选"公告，正式启动社会招聘。从招聘条件来看，该行对候选人的资历 与能力提出明确要求：年龄需为"70后"，具备6年以上信息科技工作经验；专业层面不仅要深刻理解银行数字化转型战略，熟悉商业银行应用架构、技术架 构与数据架构，还需对大数据、云计算、人工智能、区块链等技术有强洞 ...