Meeting Information - The annual shareholder meeting is scheduled for June 19, 2025 [1] - The meeting will utilize the Shanghai Stock Exchange's online voting system [1] - The meeting will be held at 14:00 at Huadian Development Building, Beijing [1] Voting Procedures - Voting will be conducted through both on-site and online methods [1][2] - Online voting will be available from 9:15 to 15:00 on the day of the meeting [2] - Specific voting procedures for margin trading and other accounts are outlined [2] Agenda Items - The meeting will review non-cumulative voting proposals, including agreements with Huadian Commercial Factoring (Tianjin) Co., Ltd. and Huaxin International Trust Co., Ltd. [2][3] - The proposals have been approved by the company's board and supervisory board [2][3] Attendance and Registration - Shareholders registered by the close of trading on June 11, 2025, are eligible to attend [5] - Proxy attendance is allowed with proper documentation [5] - Registration methods for attendees are specified, including options for remote shareholders [5] Additional Information - The company will provide a reminder service for shareholders to facilitate participation [4] - Voting rights will be calculated based on the total shares held across all accounts [5][6] - Contact information for inquiries is provided [7]

Core Viewpoint - The successful issuance of the corporate bonds by Chengtong Commercial Factoring Co., Ltd. marks a significant achievement in the market, with a focus on optimizing capital structure and reducing financing costs [1] Group 1: Bond Issuance Details - The bond issuance was led by Shenwan Hongyuan Securities, with a total scale of 500 million yuan and a maturity of 2 years, featuring a coupon rate of 2.12% [1] - This bond represents the issuer's first public credit bond and is also the first public issuance of a factoring company led by Shenwan Hongyuan Securities, achieving the lowest coupon rate for medium to long-term credit bonds in the industry [1] Group 2: Company Background and Impact - Chengtong Commercial Factoring Co., Ltd. is a core enterprise under China Chengtong Holdings Group, recognized as a leading state-owned enterprise in the commercial factoring sector [1] - The successful issuance of the bonds will facilitate the issuer in obtaining the necessary medium to long-term funds, optimizing its capital structure, and enhancing overall operational capabilities [1] Group 3: Future Outlook - The company aims to continue deepening its bond business, leveraging its advantages to actively support the real economy and promote high-quality economic development [1]

Core Viewpoint - The Tianjin Free Trade Zone (FTZ) has made significant progress in implementing institutional innovations and enhancing its role as a new high ground for institutional openness over the past ten years, contributing substantially to the local economy and aligning with national strategies for reform and opening up [3][4]. Group 1: Institutional Innovations - The Tianjin FTZ has implemented 686 institutional innovation measures, with 49 of these being replicated nationwide, accounting for 14.2% of the total nationwide replication [3]. - The FTZ has established a system that aligns with international trade and investment rules, completing all pilot tasks and being the first to implement five tasks nationally [4]. - The FTZ has created a world-class business environment by implementing "separation of licenses and permits" and "simplified notification and commitment" systems, and has established specialized courts for international commercial trials [4]. Group 2: Financial and Trade Innovations - The FTZ has seen a significant increase in financial innovation, with a cross-border RMB fund pool accumulating nearly 35 billion yuan and a business scale exceeding 1.1 trillion yuan [5]. - The oil and gas trading center has successfully implemented innovative models, with trading volumes surpassing 10 billion yuan [5]. - The FTZ has also enhanced shipping services, obtaining the first local license for bonded fuel oil refueling in northern China, with a total of 262.54 thousand tons of bonded fuel oil refueling completed in 2024 [5]. Group 3: Industrial Empowerment - The FTZ has accelerated the development of new productive forces, with the financing leasing scale reaching 23 trillion yuan, accounting for one-quarter of the national total [6]. - The FTZ has pioneered various "bonded+" businesses, including bonded research and development and bonded maintenance, leading to significant growth in the automotive sector, with parallel imports of cars accounting for 70% of the national total [6]. - The FTZ has also innovated in cross-border e-commerce and established a "green channel" for clinical imported drugs in the biopharmaceutical sector [6]. Group 4: Collaborative Development - The FTZ has enhanced its service capabilities for national strategies, establishing a joint mechanism for administrative services in the Beijing-Tianjin-Hebei region and launching 230 collaborative initiatives [7]. - The FTZ has actively supported the Belt and Road Initiative, becoming a key transportation hub for the China-Europe Railway Express and facilitating overseas engineering exports [7]. - The FTZ has deepened its integration into the global free trade network by establishing strategic cooperation with international free trade zones in the UAE and Singapore [7].

Group 1 - The Tianjin Free Trade Zone has achieved systematic and integrated institutional innovation over the past 10 years, breaking industrial bottlenecks and gathering a number of characteristic industrial clusters [1] - The financial innovation in the Tianjin Free Trade Zone has formed a scale, exploring 40 leasing models including joint leasing, cross-border subleasing, bonded leasing, and offshore leasing, becoming a hub for the commercial factoring industry in China [1] - The bonded maintenance services in the Tianjin Free Trade Zone cover various categories such as aerospace, engineering machinery, and shipbuilding, with innovative policies and business models [1] - The network freight industry has thrived, integrating 4.266 million drivers and 3.925 million vehicles, completing 53.67 million orders and transporting 580 million tons of goods in 2024, with total freight charges exceeding 90 billion yuan [1] - The biopharmaceutical sector has seen innovation breakthroughs, attracting over 200 key biopharmaceutical companies with a production value of nearly 50 billion yuan through various innovative measures [1] Group 2 - The Tianjin Free Trade Zone aims to cultivate new productive forces and address industrial chain challenges, striving to become a model and leader in high-quality development [2]

来源：各地金融监管官网及互联网公开信息 微信公众号【商业保理资讯】 归类整理 财经资讯 ●商务部：推动"三增三减" "真金白银"支持外贸企业 国务院新闻办公室4月28日举行新闻发布会。商务部副部长盛秋平在发布会上介绍，对外贸企业将加 大"真金白银"的支持力度，推动"三增三减"。"三增"就是政府增加财政资金的投入、金融机构增加信贷 支持、保险机构增加内贸险的支持。"三减"就是推动减免困难企业的房屋租金、展位费、流量费，降低 外贸企业内销成本。（新华社） ●1—3月全国发行地方政府债券超2.8万亿元 财政部今天发布2025年3月地方政府债券发行和债务余额情况。1—3月，全国发行地方政府债券28421亿 元。3月地方政府债券平均发行期限17.3年，其中一般债券8.9年，专项债券19.2年；平均发行利率 2.09%，其中一般债券1.91%，专项债券2.14%。截至3月末，地方政府债券剩余平均年限10.0年，其中一 般债券5.9年，专项债券12.2年；平均利率2.99%，其中一般债券3.08%，专项债券2.95%。（财政部） 行业资讯 ●全国首家商业保理行业商事调解组织成立 4月28日下午，上海市浦东新区商同商事调解中 ...

Core Viewpoint - The establishment of the Shanghai Local Financial Dispute Mediation Collaborative Mechanism marks a significant step in optimizing the financial business environment and enhancing investor protection in Shanghai [4][5]. Group 1: Establishment of the Mechanism - The Shanghai Local Financial Dispute Mediation Collaborative Mechanism is the first of its kind in the country, initiated by the Shanghai Financing Leasing Industry Association and supported by various local financial associations [4]. - The mechanism aims to integrate resources and create a professional, efficient, and fair mediation platform to address various challenges faced by the industry [4][5]. Group 2: Benefits of the Mechanism - The mechanism provides a convenient and efficient dispute resolution channel for financial institutions and investors, helping to quickly resolve conflicts and reduce time and economic costs associated with litigation [4][5]. - Compared to traditional judicial litigation and arbitration, the multi-faceted mediation approach is characterized by its efficiency, lower costs, and emphasis on voluntary consensus, which helps maintain long-term cooperative relationships between parties [5]. Group 3: Industry Context - The Shanghai commercial factoring industry, a vital part of the local financial service system, comprises 297 companies with total assets of approximately 1,325 billion and a cumulative new investment of about 3,500 billion in the current year [6]. - The establishment of the Shanghai Pudong New Area Commercial Dispute Mediation Center aims to create a coordinated and efficient mechanism for resolving commercial and financial consumer disputes, thereby protecting the legitimate rights and interests of financial consumers and investors [6].

Group 1 - Huaneng Yuncheng Commercial Factoring (Tianjin) Co., Ltd. has received green loans from Agricultural Bank of China Tianjin Free Trade Zone Branch, marking it as one of the first domestic green loans based on the newly established green factoring evaluation standards [1][2] - The introduction of the new green commercial factoring standards aims to address the challenges in identifying green factoring projects, which have previously hindered both financial institutions and enterprises [1][2] - The new standards were developed with the support of the People's Bank of China Tianjin Branch and the Tianjin Municipal Financial Office, providing a clear direction for the development of factoring business [1][2] Group 2 - The project involves financing for various sectors, including wind and hydropower facility construction and operation, with the Agricultural Bank of China successfully issuing a loan of 60 million yuan, of which nearly 30 million yuan was facilitated through the green factoring evaluation mechanism [2] - The Agricultural Bank of China Tianjin Free Trade Zone Branch has reported a green loan scale exceeding 96 billion yuan as of the end of March, an increase of 7.3 billion yuan since the beginning of the year [2] - Tianjin is recognized as a leading area for the commercial factoring industry in China, with significant asset scale and financing balance in the factoring business [2]

Group 1 - The core viewpoint of the news is the significant achievements of the Tianjin Free Trade Zone (FTZ) over the past ten years, highlighting its role in promoting institutional innovation and economic growth [1][2] - Since its establishment in April 2015, the Tianjin FTZ has implemented 686 institutional innovation measures, with 49 of these measures replicated nationwide, accounting for 14.2% of the total nationwide replication [1] - The FTZ hosts nearly 90,000 market entities, utilizing only 1% of Tianjin's land while contributing 26% of new foreign investment enterprises, 38% of imports and exports, 43% of actual foreign capital utilization, and 16% of tax revenue in the city [1] Group 2 - The Tianjin FTZ has adopted a strategy of innovative and differentiated reforms to stimulate market vitality and has successfully created leading industrial clusters that contribute to high-quality development [2][3] - Financial innovation has been a key focus, with over 40 leasing models explored, and the FTZ accounts for over 70% of the national cross-border leasing business in sectors like aircraft and ships [2] - The "bonded +" model has flourished, with bonded maintenance services covering various industries and the introduction of bonded research and development in the aviation sector [3] Group 3 - The development of network freight has been robust, integrating 4.266 million drivers and 3.925 million vehicles, with a projected completion of 53.67 million orders and a freight volume of 580 million tons in 2024, generating over 90 billion yuan in total freight charges [3] - The biopharmaceutical sector has seen significant breakthroughs, attracting over 200 key enterprises and achieving a production value of nearly 50 billion yuan through innovative policies and regulations [3] - The People's Bank of China in Tianjin has implemented over 50 high-impact innovative policies, benefiting 90,000 business entities and facilitating cross-border transactions totaling 430 billion USD and 870 billion yuan [4][5]