作者：金融界银行研究院院长 陈国汪 2026年中国人民银行工作会议1月5日—6日召开。会议提出，要继续实施好适度宽松的货币政策。"把促 进经济高质量发展、物价合理回升作为货币政策的重要考量，灵活高效运用降准降息等多种货币政策工 具，保持流动性充裕，保持社会融资条件相对宽松，引导金融总量合理增长、信贷投放均衡，使社会融 资规模、货币供应量增长同经济增长和价格总水平预期目标相匹配。畅通货币政策传导机制，发挥好政 策利率引导作用，做好利率政策执行和监督，促进社会综合融资成本低位运行。有序扩大明示企业贷款 综合融资成本工作覆盖面，推动明示个人贷款综合融资成本"。 人民银行2026年的货币政策将对不同类型银行业金融机构经营发展带来不同的影响。银行业金融机构如 何利用货币政策，错位经营，推动自身差异化特色化发展，将对整个十五五期间的发展带来深远影响。 核心政策要点预测 央行2026年工作会议明确适度宽松货币政策总基调，根据国内经济金融运行情况，考虑美联储可能大幅 降息和中美贸易战等因素，预计2026年货币政策的核心量化特征包括： 降准降息空间：预计全年降准1-2次（释放长期流动性1-2万亿元），降息10-25BP（5年期 ...

近日，在财经网2025年金融业年度评选中，宁波银行（002142）凭借在业绩表现、业务发展及书写金 融"五篇大文章"方面的优异表现，以及在金融领域持续深耕、创新发展的成果，获评"年度上市银行"。 2025年，作为"十四五"规划收官之年与"十五五"规划谋篇布局的关键交汇点，金融行业使命在肩、责任 重大。 站在新的历史起点，宁波银行坚持金融服务实体经济的初心和使命，始终秉持"金融为民"的理念，纵深 推进"四化五帮"金融服务体系，用实际行动书写金融助力实体经济高质量发展的新篇章。 综合实力筑牢行稳致远根基 荣誉背后，是该行深度践行金融工作政治性与人民性的坚守。该行紧扣国家战略导向，系统性推进科技 金融、绿色金融等"五篇大文章"，通过专业化服务与数字化创新，升级企业服务系统，搭建多元服务平 台，全方位赋能实体经济高质量发展，以全球百强银行的责任担当注入金融动能。 彰显金融企业"担当本色" 作为一家具有社会责任感的全国系统重要性银行，宁波银行始终坚守服务实体的初心。 在新时代的浪潮中，宁波银行积极响应国家号召，致力于做好金融"五篇大文章"，书写金融助力实体经 济高质量发展的新篇章。 2025年以来，面对银行业经营承压的 ...

记者：马传茂 谢忠翔 张艳芬 李颖超 黄钰霖 2025年，中国银行业韧性生长。 这一年，经济周期深刻影响着每一个经济体、每一个行业。银行业犹如在一片并不平静的海域上航行的巨舰，汹涌的浪花不断拍打着船舷 ——有利率下行带来的息差之困，有风险暴露拉响的警报之声，有客户行为变迁带来的转型焦虑…… 银行业不再盲目追逐或试图征服每一朵浪花，而是深刻理解并顺应时代潮汐，锻造并紧紧抓住服务实体、拥抱变革、坚守底线的"确定性之 锚"。由此，银行板块的估值也得到了持续重估。 辞旧迎新之际，证券时报记者特以十大关键词抬手速描，为银行业的韧性之年立此存照。 展望2026年，中国银行业这艘巨舰在高质量发展的道路上既面临多重考验，也将获得更多的发展新机，但依然需要在服务国家战略与实现 自身可持续发展之间寻求动态平衡。 | 2025年商业银行主要监管指标一览(单位: 万亿元) | | | | | | --- | --- | --- | --- | --- | | 指标 | 2024年 | 2025年 | 2025年 | 2025年 | | | 12月末 | 3月末 | 6月末 | 9月末 | | 总资产(法人口径 ) | 380.52 ...

Core Viewpoint - In 2025, the Chinese banking industry is characterized by resilience amidst economic challenges, focusing on serving the real economy, embracing transformation, and maintaining a balance between national strategy and sustainable development [1] Group 1: Regulatory Indicators - Total assets of commercial banks are projected to grow from 380.52 trillion yuan at the end of 2024 to 409.63 trillion yuan by September 2025 [2] - The non-performing loan ratio is expected to fluctuate slightly, starting at 1.50% in December 2024 and reaching 1.52% by September 2025 [2] - The core tier one capital adequacy ratio is anticipated to decrease from 11% in 2024 to around 10.87% by September 2025 [2] Group 2: Industry Trends - The banking sector is shifting from aggressive expansion to a more cautious approach, emphasizing the need to avoid "involution" or excessive competition [3] - Regulatory bodies are actively working to curb harmful competition, leading to a collective industry effort to reduce risks and improve operational efficiency [3] Group 3: Interest Margin Protection - The banking industry is facing significant pressure on net interest margins, prompting banks to optimize asset allocation and diversify revenue sources [7][9] - Banks are focusing on cost control by reducing deposit rates and managing high-cost long-term deposits [8] Group 4: Deposit Migration - A trend of "deposit migration" is emerging as residents seek better investment channels due to low deposit rates, with bank wealth management products seeing significant growth [10] - The shift in deposit behavior is driven by a "price comparison effect," leading to a decline in demand for traditional long-term deposits [10] Group 5: Mergers and Restructuring - Over 400 banking institutions are expected to exit the market through mergers, dissolutions, or consolidations, marking a significant increase compared to previous years [11] - The restructuring efforts are focused on improving the quality of financial services rather than merely reducing the number of institutions [13] Group 6: Technological Finance - The banking sector is prioritizing technological finance, with a focus on supporting innovation and providing tailored financial products for tech companies [14][15] - The proportion of technology loans in total new loans has reached 28.8%, indicating a strong push towards financing technology-driven enterprises [15] Group 7: Capital Increases - A notable "capital increase wave" is occurring, with major state-owned banks raising 520 billion yuan through stock issuance to bolster capital adequacy [17] - Smaller banks are also responding by exploring various capital-raising methods, including targeted issuance and local state-owned capital participation [17] Group 8: Shareholder Engagement - The banking sector has seen a surge in insurance capital participation, with several banks experiencing significant shareholding increases from insurance companies [18] - Asset management companies are also actively increasing their stakes in various banks, indicating strong investor interest in the banking sector [18] Group 9: Corporate Governance Changes - A significant shift in corporate governance is underway, with many banks abolishing or not establishing supervisory boards, transitioning to a single board system [21][22] - This change aims to enhance efficiency and reduce governance costs while maintaining oversight through audit committees [22][24] Group 10: AI Integration - The banking industry is undergoing a transformation driven by artificial intelligence, with major banks adopting an "AI-first" strategy to enhance their operations [25][26] - AI applications are expanding from customer service to core business processes, indicating a shift towards value creation through technology [26]

| 2025年商业银行主要监管指标一览(单位: 万亿元) | | --- | | 指标 | 2024年 | 2025年 | 2025年 | 2025年 | | --- | --- | --- | --- | --- | | | 12月末 | 3月末 | 6月末 | 9月末 | | 总资产(法人口径) | 380.52 | 394.29 | 402.89 | 409.63 | | 其中:国有大行 | 190.26 | 198.49 | 204.22 | 208.15 | | 国有大行总资产占比 | 50.00% | 50.34% | 50.69% | 50.81% | | 不良贷款占比 | 1.50% | 1.51% | 1.49% | 1.52% | | 拨备覆盖率 | 211.19% | 208.13% | 211.97% 207.15% | | | 核心一级资本充足率 | 11% | 10.70% | 10.93% | 10.87% | 这一年，经济周期深刻影响着每一个经济体、每一个行业。银行业犹如在一片并不平静的海域上航行的巨舰，汹涌的浪花不断拍打着船舷—— 有利率下行带来的息差之困，有风险暴露拉响的警 ...

突破传统信贷逻辑 特色产品精准滴灌 面对科技型企业"轻资产、重智产"导致的银行传统信贷"识别难、评价难、操作难、管理难"等问题，宁波银行以实际行动探索出了一条"不看砖头看专 利、不看抵押看创新"的助企融资新路径。 科技创新是驱动发展的核心引擎，是塑造新质生产力的根本源泉。而从技术萌芽到产业开花，这一过程始终离不开金融"活水"的精准浇灌。 作为金融"五篇大文章"之首，发展科技金融不仅是金融机构需要履行的社会责任，更是顺应产业变革、拥抱创新浪潮的战略选择。宁波银行主动融入时代 大势，持续完善科技金融服务体系，依托组织架构升级与生态体系建设，为科技企业提供全生命周期的综合金融服务，助力培育新质生产力。 今年上半年，宁波银行正式设立一级部门科技金融部，联动投行、授信等多板块形成服务合力，并在重点区域设立科技金融专营团队，配套"商行+投 行""融资+经营""企业+人才"的全方位服务，赋能科技企业高质量发展。 近年来，宁波银行持续打造并完善科技金融特色产品矩阵，形成专利贷、科技贷等多项专属产品，打破以企业收入、利润等传统财务数据为授信门槛的传 统模式，转而将技术专利、研发能力、人才储备、市场潜力等企业"软实力"作为核心评 ...

Core Insights - The "Financial Reception Room" mechanism has successfully facilitated 35 targeted financial enterprise connections, addressing financing challenges for 368 companies, with 312 of them being private enterprises, accounting for 84.8% of the total [2][4]. Group 1: Mechanism Features - The mechanism emphasizes precision and efficiency by selecting around 10 key enterprises with financial needs for targeted face-to-face meetings with provincial financial institutions, allowing for quick feedback on financing issues [4]. - Financial institutions conduct in-depth due diligence and provide tailored comprehensive financial service plans to help enterprises overcome challenges and grow [5]. Group 2: Addressing Pain Points - Many private enterprises face financing difficulties, such as lacking collateral despite having strong technological attributes or facing long payment cycles that strain cash flow [5]. - Financial institutions match suitable financial products to the actual needs of enterprises, including patent loans, knowledge property pledge financing, and supply chain products, while providing detailed explanations of product terms and conditions [5]. Group 3: Multi-Party Participation - The financial connection events involve not only banks but also guarantee companies, local asset management firms, and technology financial platforms, providing comprehensive financial services to enterprises [6]. - Industry authorities and associations introduce support policies and development trends, guiding enterprises in utilizing policies for transformation and equipment upgrades [6]. Group 4: Expanding Fields and Empowerment - The connection activities have expanded beyond key industrial chains to include technology, agriculture, culture, and foreign trade, with loans of 2.4 billion yuan allocated to stimulate technological enterprises [6]. - Support for 117 leading private agricultural enterprises has resulted in loans of 38.7 billion yuan, aiding in production scale expansion and equipment upgrades [6].

Core Viewpoint - The Henan Provincial Government is actively enhancing financial support for the private economy, focusing on high-quality development through innovative mechanisms like the "Financial Reception Room" to facilitate direct communication between financial institutions and enterprises [1][3]. Group 1: Financial Support Mechanisms - The "Financial Reception Room" mechanism has been established to improve the precision and effectiveness of financial services, conducting bi-weekly meetings for government-financial-enterprise interactions [1][3]. - Since its inception, the mechanism has organized 35 specialized financial-enterprise matching events across key industries, coordinating financing solutions for 368 enterprises, with 312 being private companies, accounting for 84.8% of the total [1][3]. Group 2: Operational Highlights - The mechanism emphasizes targeted and efficient matching, selecting around 10 enterprises with financial needs for direct engagement with provincial financial institutions, thereby shortening the financing process and enhancing efficiency [3]. - Financial institutions provide tailored financial service packages to address specific challenges faced by enterprises, such as lack of collateral or slow receivables [3]. Group 3: Collaborative Efforts - The financial matching events involve various financial entities, including banks, guarantee companies, and local asset management firms, to offer comprehensive financial services to enterprises [4]. - Industry departments and associations provide guidance on industry support policies, helping enterprises leverage these policies for modernization and collaboration [4]. Group 4: Expanding Financial Services - The financial support activities are broadening to include sectors like technology, agriculture, culture, and foreign trade, with specific loan allocations such as 2.4 billion yuan for technology enterprises and 38.7 billion yuan for agricultural leading enterprises [4]. - Financial institutions are also promoting differentiated services for foreign enterprises, focusing on cross-border settlements, overseas investments, and trade financing [4].

Core Points - The event focused on enhancing communication between financial institutions and small to medium-sized enterprises (SMEs) through a structured approach of policy interpretation, product promotion, and on-site matching [3][4] - The "Handan City SME Financing Comprehensive Service Platform" was introduced as a solution to address the financing challenges faced by SMEs, emphasizing the importance of credit as a link for establishing efficient cooperation [3] - Eight banks presented various credit products tailored to different industries, including credit loans, mortgage loans, and patent loans, providing diverse financing options for enterprises [3] Group 1 - The meeting was held on September 18, organized by the Guangping Administrative Approval Bureau, with participation from the Handan Administrative Approval Bureau, eight banking institutions, and over twenty SME representatives [3] - The platform aims to alleviate the pain points of "difficult and expensive financing" for SMEs by offering comprehensive online financing services that are efficient, accessible, and public-oriented [3] - The event facilitated direct discussions between enterprise representatives and bank officials regarding loan amounts, interest rates, and repayment methods, leading to customized financing solutions [4]

Core Viewpoint - Advanced manufacturing has become a new driving force for county-level economic growth, with Changshu Rural Commercial Bank playing a crucial role in supporting the transformation and upgrading of this sector through targeted financial services [1]. Group 1: Financial Support Mechanisms - Changshu Rural Commercial Bank has established "one household, one file" support archives for advanced manufacturing, implementing "one household, one policy" precision financial services to help manufacturing enterprises upgrade and develop [1]. - The bank collaborates with government departments, industry associations, and industrial clusters to accurately grasp policy directions and development strategies, providing references for investment and financing decisions [2]. - The bank has supported over 2,300 high-tech enterprises, enhancing its service mechanisms and establishing a service list with dedicated personnel for targeted support [2]. Group 2: Tailored Financial Products - The bank addresses the common challenges faced by manufacturing enterprises, such as urgent funding needs and long return cycles, by innovating financial products tailored to different entities and scenarios [3]. - Loan terms and repayment methods are set based on the development stage and funding needs of manufacturing enterprises, including order financing and equipment loans [3]. - New types of collateral-based credit products, such as patent loans and equity loans, have been introduced to alleviate financing difficulties [3]. Group 3: Enhanced Service Efficiency - To improve customer satisfaction and convenience in obtaining loans, the bank leverages technology, allowing customer managers to collect data on-site and enabling mobile loan processing [4]. - The bank has delegated loan approval authority to branch institutions to enhance response speed and streamline the credit approval process [4]. - The bank has simplified loan application materials and advanced online approval processes, facilitating rapid credit granting to help enterprises seize market opportunities and enhance competitiveness [4].