"若干措施"鼓励使用人民币，兼容满足发行主体需要的外币。 在资金用途方面，"若干措施"要求发行主体发行自贸离岸债募集资金的用途应当符合相关管理规定，按 照"两头在外"原则，主要用于支持海外项目融资等。通过自贸离岸债募集的资金，或者投资主体投资自 贸离岸债获得的本金和利息，可以自由汇出境外，也可以按规定在上海自贸试验区内存放和使用。如果 募集资金归集后拟投向境内使用，应结合具体业务类型严格按照相关管理规定办理资金跨境事宜。 "若干措施"明确，要以打造具有国际竞争力的离岸债券为方向，定位于符合条件的发行主体为募集离岸 资金，遵循"两头在外"原则，通过在上海自贸试验区开展业务的登记托管机构、面向符合条件的投资主 体发行的、按期还本付息的有价证券以及其他可转让的债权证券化产品。 "若干措施"明确了自贸离岸债的发行主体、投资主体、承销环节、资金用途等规则。 在发行主体方面，"若干措施"明确，境外注册的金融企业、非金融企业、非法人组织，境外主权机构和 国际组织，以及境内企业的海外子公司（含SPV）均可作为发行人。政策同时鼓励境内企业的海外分子 公司积极利用自贸离岸债作为融资渠道。 在投资主体方面，范围涵盖在境外依法注册成 ...

9月29日消息，按照2025陆家嘴论坛精神和国家金融管理部门统一安排，上海市委金融委员会办公室、 央行上海总部印发《关于进一步推进上海自贸离岸债高质量发展的若干措施（试行）》（简称"措 施"）。措施内容显示，总体目标是通过深化金融制度型开放，在遵循"两头在外"的原则和对标国际通 行的规则标准基础上，面向国际加快推进自贸离岸债高质量发展，进一步拓宽"走出去"企业及"一带一 路"共建国家和地区等优质企业的投融资渠道。统筹发展和安全，在守牢风险底线条件下，加快构建与 上海国际金融中心相匹配的离岸金融体系，增强上海国际金融中心的竞争力和影响力。（上海证券报） ...

其中提到，自贸离岸债以打造具有国际竞争力的离岸债券为方向，定位于符合条件的发行主体为募集离 岸资金，遵循"两头在外"原则，通过在上海自贸试验区开展业务的登记托管机构、面向符合条件的投资 主体发行的、按期还本付息的有价证券以及其他可转让的债权证券化产品。发行规则为自贸离岸债发行 适用国际通行规则和惯例。鼓励使用人民币，兼容满足发行主体需要的外币。 新华财经上海9月29日电上海市委金融委员会办公室、中国人民银行上海总部印发《关于进一步推进上 海自贸离岸债高质量发展的若干措施高质量发展的若干措施（试行）》（试行）》的通知。 （文章来源：新华财经） ...

Group 1: AI and Financial Innovation - The Bank of China Shanghai Branch has launched a comprehensive financial support plan for the AI industry, committing to provide no less than 100 billion yuan over the next five years to meet the financing needs of various entities in the AI sector [2] - The plan focuses on key areas such as computing power supply, algorithm development, and data elements, aiming to guide financial resources to these critical segments [2] - The bank is also expanding application scenarios by supporting six core areas: AI in finance, manufacturing, education, healthcare, cultural tourism, and urban governance [2] Group 2: Shipping Industry Support - The Bank of China and China Insurance have jointly released an action plan to support the construction of Shanghai as an international shipping center, addressing key challenges in shipping safety, convenience, and green transformation [3] - The plan includes ten specific action measures aimed at enhancing the shipping industry's capabilities and services [3] - The Shanghai Branch is leveraging its cross-border financial service expertise to create a dedicated cross-border financial service system for ship management enterprises [3] Group 3: Offshore Bond Issuance - The Bank of China supported the issuance of the world's first public offshore bond in the Shanghai Free Trade Zone, with a total scale of 200 million yuan, marking a significant step in promoting high-level financial openness [4] - This offshore bond strictly adheres to international standards and principles, allowing foreign entities to issue bonds and attract international investors [4] - The Shanghai Branch is committed to enhancing the competitiveness and influence of Shanghai as an international financial center through innovative financial product services [4]

8月1日，在中国人民银行和上海市委金融办大力支持指导下，交通银行香港分行成功以公募方式发行全 球首单上海自贸离岸债，票面利率1.85%，期限3年，获得穆迪A2和惠誉A的债项评级，由中央国债登 记结算有限责任公司托管。交行充分发挥市场独创的"五位一体"自贸离岸债综合金融服务体系优势，通 过上海、香港、澳门和卢森堡等多地高效联动协同，成功吸引来自香港、中东、中美洲等地区的境外优 质投资者踊跃认购。 作为唯一总部在沪的国有大型商业银行，交行一直是上海自贸离岸债市场的见证者、参与者和推动者。 近年来，交行通过构建市场最广泛的自贸离岸债投资者体系，并深化"五位一体"综合金融服务方案内 涵，成功推动多个行业领先：全球首个自贸离岸债境外投资者（交行新加坡分行），首个境外人民币清 算行投资者（交行首尔分行），全球首家金融机构自贸离岸债发行人（交银金租境外子公司）等。这些 创新实践为当下发展"两头在外"上海自贸离岸债业务积累了丰富经验，推动相关业务实现跨越式发展。 此次香港分行公募发行全球首单上海自贸离岸债，标志着交行在探索构建与上海国际金融中心相匹配的 离岸金融体系方面迈出重要一步，助力人民币国际化进程。该业务的成功落地，使 ...

据悉，交行上海自贸试验区新片区分行作为中央结算公司指定的上海自贸离岸债清算行，为该单债券提 供发行资金归集和付息兑付清算服务。上海自贸离岸债将于澳门金融资产交易所（MOX）和卢森堡证 券交易所（LuxSE）同时挂牌上市。（闻辉） 【环球网财经综合报道】8月4日消息，据交通银行消息，日前交通银行香港分行以公募方式发行全球首 单上海自贸离岸债，票面利率1.85%，期限3年，获得穆迪A2和惠誉A的债项评级，由中央国债登记结 算有限责任公司托管。 ...

Macro Dynamics - The State Administration for Market Regulation issued the "Compliance Guidelines for Charging Behavior of Online Trading Platforms," aiming to standardize the fees charged by platforms to operators, advocating for reduced burdens on operators and enhanced compliance self-discipline [2] Healthcare Sector - The National Healthcare Security Administration reported a case of illegal resale of medical insurance drugs, where a community health service station was found to have repeated billing for drugs, leading to the recovery of 3,678 yuan from the insurance fund and a fine of 7,356 yuan [3] Financial Sector - The Guangdong Provincial Financial Management Bureau and five other departments released the "Implementation Rules for Loan Interest Subsidies for Manufacturing and High-tech Enterprises," specifying a negative list for loan project approvals [4] - Shanghai Bank was fined over 29.21 million yuan by the central bank for issues arising between 2020 and 2021, which have since been rectified [7] - The Bank of Communications issued the world's first offshore bond for the Shanghai Free Trade Zone with a coupon rate of 1.85% and a term of three years [8] Market Data - As of August 1, U.S. stock indices collectively fell, with the Dow down 1.23%, the Nasdaq down 2.24%, and the S&P 500 down 1.6%, with significant declines in popular tech stocks [9] - The Nasdaq Golden Dragon China Index fell by 1.82%, with major Chinese concept stocks also experiencing declines [10] Company Dynamics - Zhang Jian was approved to serve as the general manager of China Post Insurance Asset Management Co., Ltd. [11] - Tim Cook became the longest-serving CEO of Apple, surpassing Steve Jobs with a tenure of 5,091 days [12] - Didi Chuxing collaborated with police to combat illegal ride-hailing software, leading to the arrest of a suspect involved in creating such software [13] - China FAW Group reported that in July 2025, its vehicle sales exceeded 252,400 units, a year-on-year increase of 6.5%, with significant growth in its self-owned and new energy vehicle sales [14]

Core Viewpoint - The issuance of the world's first offshore bond under the Shanghai Free Trade Zone by Bank of Communications marks a significant step in developing an offshore financial system aligned with Shanghai's international financial center, contributing to the internationalization of the Renminbi [2][3]. Group 1: Issuance Details - Bank of Communications Hong Kong branch successfully issued the first offshore bond under the Shanghai Free Trade Zone with a coupon rate of 1.85% and a maturity of 3 years, receiving ratings of A2 from Moody's and A from Fitch [2]. - The issuance was conducted in compliance with the People's Bank of China's policy on developing offshore bonds, following international standards and principles [2]. - The bond attracted high-quality foreign investors from regions including Hong Kong, the Middle East, and Central America, showcasing effective collaboration across multiple locations such as Shanghai, Hong Kong, Macau, and Luxembourg [2]. Group 2: Role of FT Accounts - The Free Trade Account (FT Account) played a crucial role in this issuance, leveraging its "first-line liberalization" policy to provide safe and convenient cross-border settlement services for foreign investors [2]. - This facilitated the orderly and free flow of funds between the Shanghai Free Trade Zone and overseas [2]. Group 3: Market Position and Future Implications - The successful issuance positions Bank of Communications as the only institution in the market that integrates six key functions: issuance, investment, underwriting, trust, clearing, and settlement of offshore bonds [3]. - This development is expected to further promote the high-quality growth of offshore bond business in the Shanghai Free Trade Zone [3].

据交通银行消息，8月1日，交通银行香港分行以公募方式发行全球首单上海自贸离岸债，票面利率 1.85%，期限3年，由中央国债登记结算有限责任公司托管。 ...

Core Viewpoint - The joint action plan by the Financial Regulatory Bureau and the Shanghai Municipal Government aims to enhance the construction of Shanghai as an international financial center through various measures, focusing on financial institution aggregation, improving financial services, expanding institutional openness, enhancing regulatory standards, and improving policy support [1][5]. Group 1: Financial Institution Aggregation - The plan emphasizes the need for commercial banks to increase support for Shanghai's international financial center by establishing dedicated institutions and authorizing local branches [1]. - It encourages foreign financial institutions to play a larger role in Shanghai's financial center development and prioritizes key foreign investment projects in Shanghai [1]. Group 2: Enhancing Financial Services - The action plan aims to improve the quality and efficiency of financial services for the real economy, particularly for technology enterprises, by exploring suitable financial service models [2]. - It promotes the development of carbon finance and aims to position Shanghai as an international hub for green finance [2]. Group 3: Expanding Institutional Openness - The plan advocates for aligning with international high-standard trade rules to explore financial institutional openness, including cross-border syndicate loans in the Shanghai Free Trade Zone [2]. - It aims to enhance the international operational capabilities of financial institutions and promote the development of Shanghai as an international reinsurance center [2]. Group 4: Enhancing Regulatory Standards - The action plan calls for improving the forward-looking risk management capabilities of financial institutions in Shanghai and promoting sound operations [4]. - It supports financial innovation pilot projects focused on serving the real economy and foreign trade, while establishing a financial risk prevention and disposal mechanism [4]. Group 5: Improving Policy Support - The plan emphasizes the integration of party building with business operations and the strengthening of legal frameworks to support the construction of Shanghai as an international financial center [4]. - It aims to enhance the technological level of financial regulation and support the establishment of a data center for the Financial Regulatory Bureau in Shanghai [4]. Group 6: Hong Kong-Shanghai Cooperation - The signing of the Hong Kong-Shanghai International Financial Center Collaborative Development Action Plan focuses on infrastructure connectivity and the strategic complementarity of offshore finance between the two cities [6][7]. - The plan includes measures to support cross-border financial services and encourages the development of financial products that meet offshore trade funding needs [8].