人民网华沙9月23日电 （记者禹丽敏）9月22日下午，天涯共此时——中秋节暨"中国宁波：东方的起点"文旅 推介会在布达佩斯中国文化中心圆满举行。活动由宁波市文化广电旅游局、布达佩斯中国文化中心、中国驻布达 佩斯旅游办事处联合主办，中国银行特别支持。值此花好月圆之际，中匈两国嘉宾以文旅推介、航线推广、主题 特展、文化互动等形式，共赏中秋佳节意蕴，共话宁波城市魅力，为深化中匈文旅合作注入新动能。中匈两国百 余名来宾出席活动，共赴这场 "东方起点" 之约。 布达佩斯中国文化中心主任金浩在欢迎辞中表示，本次活动有效促进了中匈文明互鉴和民心相通。宁波作为 一座历史与现代交融的典范城市，其丰富的文化资源和开放的城市形象，有助于匈牙利民众更全面、深入地了解 当代中国。 活动现场。布达佩斯中国文化中心供图 布达佩斯中国文化中心主任金浩致辞。布达佩斯中国文化中心供图 匈中经济商会副会长埃里卡·托特法鲁西（Tóthfalusy Erika）指出，宁波不仅是中东欧合作的重要枢纽，更展 现出巨大经济活力和合作潜力。文旅交流是经贸往来的重要基础，今后商会将继续积极推动匈牙利与宁波在旅 游、投资等领域的务实合作，实现互利共赢。 匈中经济 ...

摩根士丹利重申对亚洲金融股"增持"评级，除看好其本币盈利及高股息特征外，随着美联储降息导致美 元进一步走弱，预期亚洲金融股将会继续跑赢大市。该行续称，日本利率正常化，其他财富及资本市场 增长，加上中资股可能出现估值重估，均会为亚洲金融股前景带来支持。 大摩指，香港银行正面临本土逆风，利率与信贷质素持续受压，故相对青睐国际业务占比高的银行，维 持对汇丰及渣打"增持"评级，恒生银行及中银香港则予"减持"评级。内银股方面，整体银行收入与盈利 增长有望恢复至每年增长4%至6%水平，部分中型银行更可望重返双位数盈利成长，其中民生银行在资 金成本下降、信贷成本降低及资产负债表重启增长的助力下，其股本回报率有望回升至与同业更相符的 水平，带来进一步重估的机会。 ...

Group 1 - The year 2025 marks the 70th anniversary of the establishment of the Xinjiang Uygur Autonomous Region, highlighting the region's vibrant development supported by the banking sector [1] - The banking industry has been instrumental in implementing the new era's governance strategies and supporting Xinjiang's economic growth through continuous financial investment [1] Group 2 - The Xinjiang Huadian Tianshan Gobi Base's 6.1 million kilowatt renewable energy project is underway, expected to generate over 16 billion kilowatt-hours of green electricity annually, with significant financial backing from Agricultural Bank [2] - Agricultural Bank has provided over 4 billion yuan in loans to three development companies involved in the "Jiangdian into Chongqing" project, facilitating timely project completion [2] Group 3 - Financial resources are increasingly directed towards private, small, and individual businesses, fostering their growth and development [3] - Agricultural Bank's services have enabled local businesses, such as a farm supply store, to secure loans easily, enhancing their operational capacity and revenue [3] Group 4 - Xinjiang is a global focal point for cotton production, maintaining the top position in various metrics for 30 consecutive years [4] - The Construction Bank's initiatives, such as "Farmers' Classroom," provide essential knowledge and financial products to local farmers, promoting agricultural development [4][5] Group 5 - The Construction Bank's Xinjiang branch actively supports the cotton industry by delivering financial resources directly to agricultural fields [6] - The Export-Import Bank of Xinjiang has supported key infrastructure projects, enhancing the region's connectivity and economic transformation [7] - The Export-Import Bank is also focused on promoting high-quality foreign trade, assisting local enterprises in expanding their international market presence [7]

Core Viewpoint - The "Yulan Bond" serves as a new channel for overseas bond financing for Chinese enterprises and aims to expand the pool of offshore RMB assets, as discussed in a recent seminar held in Hong Kong [1] Group 1: Event Overview - The seminar on "Yulan Bond" was co-hosted by Shanghai Clearing House, European Clearing Bank, and Bank of China Hong Kong on September 24, with nearly 50 representatives from various financial institutions in Hong Kong participating [1] - The discussion focused on the unique role of "Yulan Bond" in facilitating overseas financing for Chinese companies and enhancing the offshore RMB asset pool [1] Group 2: Advantages and Suggestions - Representatives from participating financial institutions acknowledged the advantages of "Yulan Bond," including its ability to reach global investors and effectively reduce financing costs for issuers [1] - Suggestions were made to further improve the international network connections for "Yulan Bond," optimize policy benefits and value-added service tools, and enhance the efficiency of various processes such as issuance, underwriting, and collateral management [1]

Group 1 - The core viewpoint emphasizes the role of the Export-Import Bank of China, Shaanxi Branch, in supporting high-level opening-up and high-quality development of the real economy during the 14th Five-Year Plan period, with a total loan issuance exceeding 240 billion yuan [1] - The bank has established multiple joint working mechanisms with various government departments and signed strategic cooperation agreements to enhance foreign trade quality and promote high-quality development in Shaanxi Province [2] - The bank has implemented 11 specific measures to support foreign trade, resulting in a 30% increase in service clients in the foreign trade sector compared to the beginning of the year [3] Group 2 - The bank has provided nearly 6 billion yuan in financing support for the China-Europe Railway Express (Xi'an), which has become a key logistics channel connecting Europe and Asia, with over 4,000 trains operated [4] - As of August 2025, the China-Europe Railway Express (Xi'an) has surpassed 30,000 trains in total, accounting for one-quarter of the national total, making Xi'an the leading hub for this service [5] - The bank is committed to enhancing financial services for private small and micro enterprises, having supported nearly 2,000 such businesses and provided over 8 billion yuan in financing [8][9] Group 3 - The bank's total assets exceeded 100 billion yuan by June 2025, reflecting a nearly 30% growth over five years, attributed to strong leadership and collective efforts [9] - The bank aims to continue implementing national strategies, focusing on high-quality development and enhancing marketing management capabilities [9]

又一家直销银行退场！ 9月23日，邮储银行发布公告称，为进一步优化管理及业务架构，该行将吸收合并下属全资 子公司中邮邮惠万家银行有限责任公司（以下简称"邮惠万家银行"）。吸收合并完成后，邮 惠万家银行的独立法人资格依法注销，同时，其全部业务、财产、债权债务以及其他各项权 利义务由邮储银行承继。 事实上，在邮惠万家银行被吸收合并前，国内共计两家独立法人直销银行，另一家为中信百 信银行。值得一提的是，原本独立法人直销银行有望"三足鼎立"，但招商银行旗下的招商拓 扑银行最终未能正式成立。 邮惠万家被邮储银行吸收合并，有望进一步降本增效 9月23日，邮储银行发布了董事会决议公告，其中显示，董事会会议审议通过了《关于中国 邮政储蓄银行吸收合并中邮邮惠万家银行有限责任公司的议案》。 与此同时，邮储银行同日发布了《关于吸收合并全资子公司的公告》，详细说明了邮惠万家 银行被邮储银行吸收合并事宜。 邮储银行方面强调，邮惠万家银行为该行全资子公司，其财务报表已按100%比例纳入该行 的合并报表范围，此次吸收合并不会对该行的财务状况和经营成果产生实质性影响，也不会 损害该行及全体股东的利益。 那么，此次邮储银行吸收合并邮惠万家银行 ...

历史，总是在万众瞩目中被改写。 当地时间9月23日，国际金价如同脱缰的野马，COMEX黄金期货价格一度冲高至3824.60美元/盎司，正 式宣告突破3800美元大关，再度刷新历史纪录。 美联储主席鲍威尔在随后的讲话中，将此次降息定义为一次"风险管理"。他明确指出，促使美联储采取 行动的关键原因，是"就业市场面临的下行风险有所升高"。尽管通胀依然高于2%的目标，但劳动力市 场的疲软迹象，让美联储的天平开始向支持就业倾斜。 降息为何对黄金是重大利好？因为黄金作为不生息资产，其最大的"敌人"就是高利率。当美联储降息， 尤其是进入降息周期时，持有黄金的机会成本（即放弃持有生息资产如国债的收益）显著降低。此外， 降息通常会导致美元走软，而以美元计价的黄金对于持有其他货币的投资者来说会变得更便宜，从而刺 激需求。 更重要的是，市场对未来还有更多期待。根据美联储公布的"点阵图"，略多于半数的官员预计今年至少 还会有两次降息，意味着10月和12月可能连续动作。这种对持续宽松货币政策的强烈预期，为金价提供 了源源不断的上行动力。 三、深层逻辑：从"央行购金"到"投资者狂欢" 如果说降息是点燃黄金行情的火花，那么更深层次的燃料， ...

一、 宏观数据速览 投资咨询业务资格：证监许可【2011】1778 号 资讯早班车 资讯早班车-2025-09-25 | 发布日期 | 指标日期 | 指标名称 | 单位 | 当期值 | 上期值 | 去年同期值 | | --- | --- | --- | --- | --- | --- | --- | | 20250715 | 2025/06 | GDP:不变价:当季同比 | % | 5.20 | 5.40 | 4.70 | | 20250831 | 2025/08 | 制造业 PMI | % | 49.40 | 49.30 | 49.10 | | 20250831 | 2025/08 | 非制造业 PMI:商务活 动 | % | 50.30 | 50.10 | 50.30 | | 20250915 | 2025/08 | 社会融资规模增量:当 | 亿元 | | 25668.00 11307.00 | 30323.00 | | | | 月值 | | | | | | 20250912 | 2025/08 | M0(流通中的现金):同 比 | % | 11.70 | 11.80 | 12.20 | | 202509 ...

Core Insights - The article discusses the current trends in the ETF market, highlighting the performance of various sectors and the impact of AI technology on the electronic industry [1][5]. Market Overview - The market temperature gauge indicates a 75% level, suggesting a stable market environment based on the historical P/E ratios of major indices [1]. - As of September 24, 2025, the historical P/E ratio percentiles for the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index are 94.57%, 82.19%, and 49.86% respectively [1]. Sector Performance - The electronic sector leads with a 2.88% increase, followed by media and power equipment sectors [2]. - The top three inflow sectors include power equipment (¥2.812 billion), electronics (¥2.811 billion), and computers (¥1.972 billion) [2]. - The sectors with the highest outflows are telecommunications (¥-2.237 billion), automotive (¥-1.863 billion), and non-ferrous metals (¥-1.694 billion) [2]. ETF Performance - The New Materials ETF has shown a 27.82% increase over the past six months, while the Green Energy ETF has increased by 27.91% [4]. - The Hong Kong Internet ETF has a recent performance of 2.69% and a six-month increase of 17.07% [4]. AI and Electronic Industry - The article emphasizes that AI is driving a transformation in the electronic industry, with significant growth potential due to the demand for AI computing power [5]. - The electronic sector is currently in an innovation phase, expected to experience breakthroughs in terminal innovation, performance release, and profit explosion [5].

Group 1 - The seminar held in Nanning, Guangxi, focused on financial regulatory cooperation among ASEAN and China, Japan, and South Korea, with over 20 representatives from eight countries and regions attending [1][2] - China has been ASEAN's largest trading partner for 16 consecutive years, while ASEAN has been China's largest trading partner for five years, highlighting the importance of trade relations [1] - The upcoming signing of the China-ASEAN Free Trade Area upgrade protocol is expected to boost regional economic integration and stability amid increasing global trade uncertainties [1] Group 2 - The discussions at the seminar included topics such as regional financial vulnerabilities, sustainable financial development, and cross-border financial data flow and privacy protection [2] - The seminar enhanced understanding of China's economic and financial development among foreign representatives and fostered mutual trust and consensus among regulatory agencies from ASEAN and the 10+3 countries [2] - The Financial Regulatory Bureau plans to strengthen cross-border regulatory cooperation with ASEAN and 10+3 member countries, promoting the development of both domestic and foreign financial institutions [2]