证券日报网讯 11月20日晚间，常熟银行发布公告称，基于对本行内在价值、未来战略规划及长远发展 前景的坚定信心，坚信本行股票长期投资价值，本行行长陆鼎昌先生，副行长张康德先生、干晴女士、 程鹏飞先生、倪建峰先生，董事会秘书唐志锋先生（以下简称"增持主体"）计划自公告披露之日起6个 月内，通过上海证券交易所交易系统集中竞价交易方式合计增持本行A股股份不少于55万股。陆鼎昌先 生的行长任职资格，张康德先生、倪建峰先生的副行长任职资格尚需取得国家金融监督管理总局苏州监 管分局核准。本次增持主体增持所需的资金来源为自有资金，不存在因所需资金不到位而导致后续增持 无法实施的风险。 （文章来源：证券日报） ...

Core Viewpoint - Barclays believes that the AI investment boom is triggering a global supercycle in commodities, presenting significant opportunities for investors [3][5]. Group 1: Capital Expenditure and Commodity Demand - Barclays estimates that capital expenditure by cloud service providers will exceed $2.5 trillion over the next five years, with copper demand being the most prominent [5][6]. - The report highlights that the demand for specific minerals and rare earth elements will surge due to ongoing upgrades in AI infrastructure [3][5]. - The International Energy Agency (IEA) projects that $500-600 billion in new investments will be needed for copper, lithium, nickel, and cobalt over the next 15 years, with copper accounting for half of this demand [7][8]. Group 2: Beneficiary Countries - Mining-exporting countries like Chile, Peru, and the Democratic Republic of Congo are positioned to benefit significantly from this investment cycle [10][9]. - Australia, Indonesia, and Brazil are also expected to see substantial gains from the export of other minerals and rare earth elements [11]. - Despite global mineral extraction being widespread, China dominates the refining sector, processing nearly 50% of global refined minerals, indicating a sustained tight trade relationship with the world [11]. Group 3: Historical Insights and Trade Conditions - Historical commodity boom periods, particularly those led by China from 2002-2007 and 2010-2014, show that fixed capital formation in commodity-exporting countries significantly contributes to GDP growth [13][15]. - The current supercycle is characterized by a decoupling of copper prices from oil prices, which traditionally have been correlated [20][24]. - This decoupling creates favorable trade conditions for countries that are net oil importers but major exporters of key minerals, enhancing their currencies' strength [24][28].

Core Viewpoint - The recent approvals by the National Financial Supervision Administration for several banks to acquire their affiliated rural banks and convert them into direct branches signify a shift from quantity expansion to quality enhancement in the rural banking sector [1][2]. Group 1: Recent Developments - Multiple cases of "village to branch" transformations have been approved, indicating a significant acceleration in the reform and restructuring of small and medium-sized banks [2]. - In November, Shanghai Pudong Development Bank successfully acquired two rural banks, converting them into branches, showcasing a trend among various banking institutions to engage in mergers and acquisitions of rural banks [2]. - The restructuring methods "village to branch" and "village to division" are becoming mainstream, allowing banks to absorb rural banks and enhance their operational capabilities [2][3]. Group 2: Strategic Implications - The absorption of rural banks into larger banking institutions enhances service capabilities and risk resilience for rural banking services [3]. - For the parent banks, the restructuring expands their business scope and allows for the potential establishment of new branches in areas where they previously had no presence [3]. Group 3: Policy and Market Dynamics - The acceleration of rural bank integration aligns with regulatory directives aimed at reducing the number of financial institutions while improving service quality [4]. - As of mid-2025, the number of rural banks is projected to decrease to 1,440, reflecting a significant reduction in the sector, which is part of a broader strategy to enhance service quality through consolidation [4]. - The integration of rural banks is not merely about reducing the number of branches but represents a strategic shift towards more focused and quality-driven financial services [4].

随着投资渠道越来越丰富，王颖提到，今年汇丰对12个国家和地区的大众富裕投资者（可投资资产在10 万-200万美元）进行的调查显示，投资者在财富管理上出现更多的变化。 21世纪经济报道记者 张晓慧 深圳报道 王颖也谈到，当下另类投资呈现出一些新的趋势：首先是原有投资者将更多流动性资金重新投入到私募 股权；其次，随着私募债逐渐走向成熟，传统银行与私募信贷机构达成更多合作，成为私募信贷基金的 代销者。 11月20日，2025湾区财富大会在深圳会展中心举办，大会由21世纪经济报道、深圳金博会运营发展有限 公司联合主办。 此外，"随着AI工具技术壁垒的降低，人工智能初创企业成长很快，相对来说，这些年轻企业更愿意在 较长时间内维持私有化状态。"王颖谈到，人工智能将成为未来几年风投的核心推动力之一，AI基础设 施、全球数据中心都表现出较快发展的态势。 来自深圳、香港等地的大湾区顶尖金融机构齐聚深圳，聚焦全球资产配置、跨境财富管理等前沿议题进 行探讨，汇丰中国财富管理及金融服务方案部负责人王颖就"高净值人群的战略配置，另类投资的尝 试"进行主题演讲。 与此同时，王颖也建议，尽管另类投资能够让资源配置更加多元化，但是投资人也要 ...

盘后数据出炉。 沪深300今日主力资金净流出57.07亿元，创业板净流出167.5亿元。 | | | 各板块最近五个交易日主力资金净流入数据(亿元) | | | --- | --- | --- | --- | | 日期 | 沪深300 | 创业板 | 科创板 | | 2025- 11- 20 | - 57. 07 | - 167. 50 | - 19. 40 | | 2025- 11- 19 | - 45. 69 | - 118. 03 | - 15. 72 | | 2025- 11- 18 | - 151. 35 | - 217. 99 | - 3. 77 | | 2025- 11- 17 | - 83. 50 | - 75. 05 | - 12. 50 | | 2025- 11- 14 | - 204. 39 | - 257. 80 | - 17. 13 | | | | 尾盘资金净流入数据(亿元) | | | 2025- 11- 20 | - 17. 67 | - 26. 53 | - 5. 22 | | 2025- 11- 19 | 6. 06 | - 3. 06 | 1.16 | | 2025- 11 ...

【#国家开发银行声明#】#不法组织谣称与国开行签署战略协议# 11月20日，国家开发银行（简称国开 行）发布声明。声明表示，近期，国开行接到群众反映有自称人民资产（或人民资产APP、人民资产项 目部）的不法组织谣称与国开行签署战略协议，由国开行开具电子银行承兑汇票兑付证券资金，并发布 《关于证券资金开具电子银行承兑汇票的通知》误导投资者。为维护广大群众和国开行合法权益，国家 开发银行严正声明：一、国开行从未与人民资产（或人民资产APP、人民资产项目部）签署过战略合作 协议，也未给人民资产办理过电子银行承兑汇票业务。国开行与其一切行为无任何关系。二、任何发布 与国开行相关虚假信息开展宣传营销及从事其他行为的组织和个人，应立即停止一切违法违规行为。国 开行将保留依法进一步追究相关组织和个人法律责任的权利。三、请广大消费者、投资者注意甄别，提 高防范意识，保护自身财产安全，谨防上当受骗。 ...

Core Viewpoint - The article discusses the declining interest rates on bank deposits and wealth management products, indicating that keeping money in banks is becoming less profitable [1][3]. Summary by Sections Interest Rate Decline - Recent years have seen a gradual decrease in the yield of both bank deposits and wealth management products, making it less attractive to keep money in banks [1]. - As of May 2025, major state-owned banks in China have lowered the interest rates on RMB deposits [1]. Current Interest Rates - The current interest rates for various deposit types are as follows: - Demand deposits: 0.05% - 1-year fixed deposit: 0.95% - 3-year fixed deposit: 1.25% - 5-year fixed deposit: 1.30% [3][7]. Reasons for Interest Rate Decline - The long-term trend of declining interest rates is attributed to a slowdown in overall economic growth, with GDP growth rates decreasing from over 10% in 2006-2007 to around 5% in 2024 [5][8]. - As the economy matures, the speed at which companies earn profits slows down, leading to lower borrowing willingness and interest rates [8]. Rise of "Fixed Income +" - In response to declining interest rates, the "Fixed Income +" investment strategy has gained popularity among investors seeking better returns without increasing risk [9]. - "Fixed Income +" typically consists of a low-risk bond component for stability and a higher-risk equity component to enhance returns [9]. Global Perspective on "Fixed Income +" - The "Fixed Income +" concept is well-established in overseas markets, particularly in the U.S. and Japan, where traditional fixed income yields have declined significantly [10]. - In the U.S., as of February 2021, there were 3,936 bond funds, with 1,983 classified as "Fixed Income +," representing nearly 50% of all bond funds and about 70% of total assets [10]. Future Demand for "Fixed Income +" - The decline in traditional fixed income yields is expected to drive domestic investors towards "Fixed Income +" products, which are designed to provide stable returns [11].

Core Viewpoint - The National Development Bank (NDB) has issued a statement to clarify that it has no association with an organization claiming to be "People's Assets" or its related applications, which falsely claimed to have signed a strategic agreement with the bank [2][3]. Group 1 - The NDB has received reports from the public regarding a fraudulent organization named "People's Assets" that falsely claims to have a strategic partnership with the bank [2][3]. - The bank emphasizes that it has never signed any strategic cooperation agreement with "People's Assets" and has not conducted any electronic bank acceptance bill business with them [2][3]. - The NDB warns that any organization or individual disseminating false information related to the bank should cease all illegal activities, and the bank reserves the right to pursue legal action against them [3]. Group 2 - The NDB urges consumers and investors to be vigilant and to protect their financial security by being cautious of potential scams [3].

格隆汇11月20日｜汇丰控股发言人表示，已任命Steve Hughes为澳洲及新西兰银行业务行政总裁兼主 管，任命将于 明年1月1日生效。Antony Shaw将会于今年底卸任澳洲及新西兰银行业务行政总裁一职， 其未来职位将在稍后公布。 ...

Core Viewpoint - The recent approvals by the National Financial Supervision Administration for several banks, including SPDB and Zhengzhou Bank, to acquire their affiliated rural banks and convert them into direct branches indicate a shift from quantity expansion to quality improvement in rural banking services [1][2]. Group 1: Recent Developments - Multiple cases of "village to branch" transformations have been approved in various regions, including Zhejiang and Inner Mongolia, reflecting a significant acceleration in the reform and restructuring of small and medium-sized banks [2]. - SPDB successfully acquired Zezhou Rural Bank and established it as a branch, marking its second acquisition of a rural bank in November [2]. - Zhengzhou Bank announced plans to acquire shares from other shareholders of Xun County Rural Bank and convert it into a branch, showcasing the trend of "village to branch" and "village to division" as mainstream methods of restructuring [2]. Group 2: Strategic Implications - The absorption and conversion of rural banks into branches enhance service capabilities and risk resilience for the main banks, while also broadening their operational scope [3]. - The restructuring aligns with regulatory goals to reduce the number of financial institutions while improving service quality, as evidenced by a reduction in the number of rural banks from 1,440 by mid-2025, down from 1,538 at the end of 2024 [4]. - The integration of rural banks is not merely about reducing the number of branches but represents a strategic shift towards more refined financial services and diversified product offerings to meet varied customer needs [4].