Core Viewpoint - The People's Bank of China is committed to implementing a moderately loose monetary policy to support economic recovery and maintain financial stability [1][4]. Monetary Policy Implementation - The effectiveness of existing monetary policies is being enhanced, with a focus on maintaining ample liquidity and low social financing costs, which are crucial for boosting market confidence and responding to external shocks [2][4]. - A new package of monetary policy measures was introduced in May 2025, contributing to a reasonable growth in financial totals [2]. Financial Market Stability - The financial market has withstood significant external shocks since April 2025, with improved expectations and heightened confidence among market participants [2]. - The Central Government has coordinated efforts to maintain market stability through a combination of policy tools, including the role of the Central Huijin Investment Ltd. as a stabilizing fund [2]. Sector-Specific Financial Services - Financial services in key areas such as technology, green finance, and digital economy have seen substantial growth, with loans in these sectors increasing by 11.8%, 22.9%, and 12.9% respectively, significantly outpacing overall loan growth [2]. International Financial Cooperation - The cross-border payment system for the Renminbi (CIPS) has become a primary channel for international transactions, with the Renminbi now the largest currency for cross-border payments in China and among the top three globally for trade financing [3]. - Financial openness is being expanded, with efforts to enhance the international role of the Renminbi and improve mechanisms for foreign investors [3]. Future Policy Directions - The focus will be on maintaining liquidity and aligning monetary supply growth with economic growth and price stability, while also ensuring the stability of the Renminbi exchange rate [4]. - Continued emphasis on high-quality financial services for the real economy, particularly in technology innovation, consumption, and small enterprises [4]. Financial Risk Management - There is a strong commitment to preventing systemic financial risks, with ongoing monitoring and assessment of potential risks in key sectors [5]. - Support for the market-oriented transformation of financing platforms and reforms for small financial institutions is prioritized [5].

Group 1 - The 2025 China International Financial Expo will be held from June 18 to 20 at the Shanghai World Expo Exhibition and Convention Center, focusing on "Open Innovation, Technology Empowerment, and Co-creating a New Future for Finance" [1][2] - The expo will feature five thematic exhibition areas: financial infrastructure, financial products and services, financial technology, and international and local特色金融 [1][2] - Nearly 300 domestic and foreign institutions are confirmed to participate, with an exhibition area exceeding 50,000 square meters, marking the largest scale and widest range in the event's history [2] Group 2 - The event will coincide with the 2025 Lujiazui Forum and aims to promote the internationalization of the Renminbi and cross-border financial services [2][3] - A digital finance development forum will be held alongside the expo, featuring 18 specialized topics to facilitate dialogue among government, industry, academia, and research sectors [3] - The expo will adopt a "2+1" model, with the first two days dedicated to professionals and the last day open to the public, including a financial technology interactive experience area [3]

Core Viewpoint - The Renminbi Cross-Border Payment System (CIPS) has become the main channel for cross-border Renminbi payments, supporting various financial activities globally under the strong leadership of the People's Bank of China [1] Group 1: System Overview - Since its launch, CIPS has fully supported cross-border Renminbi trade, investment financing, and financial market transactions across different global time zones [1] - As of May 2025, CIPS has 174 direct participants and 1,509 indirect participants, facilitating transactions through direct participants [1] Group 2: Global Reach - CIPS covers 187 countries and regions, involving over 4,900 legal banking institutions worldwide [1]

Group 1 - The central bank and other departments are promoting the enhancement of the Cross-Border Interbank Payment System (CIPS) functionality and global network coverage, aiming to drive more banks to join CIPS [1] - The policy goals include optimizing processes, digital upgrades, financing support, and risk management to expand CIPS's service targets and improve its functionality, ultimately promoting the internationalization of the Renminbi [1] - The demand from export enterprises and the government for cross-border payment-related companies is increasing, providing better growth opportunities and stimulating industry innovation [1] Group 2 - The acceleration of the free trade zone enhancement strategy by the central government is expected to increase the proportion of Renminbi settlement, allowing the currency to play a significant role in trade and investment financing [2] - The demand for cross-border payment services is expected to rise due to the import and export trade within the free trade zones, prompting business upgrades in the industry to meet various settlement needs [2] Group 3 - The digital transformation and advanced technologies are facilitating the upgrade of the cross-border payment system, with a clear goal for the digitalization of cross-border trade [3] - Companies are actively exploring the application of blockchain, big data, and other cutting-edge technologies in cross-border payments to drive industry upgrades [3] - The interaction between government guidance and corporate innovation is likely to open new markets for the cross-border payment industry and support the comprehensive upgrade of the payment system [3]

Core Viewpoint - The cross-border payment concept continues to show strong momentum, with companies like New Morning Technology and Hailian Jinhui hitting the daily limit up, while Qingdao Kingway approaches the limit up as well. Other companies such as Lakala, Xinya Data, and Sifang Precision also opened high. This is driven by the announcement from the central bank and other authorities regarding the "Action Plan for Further Enhancing the Convenience of Cross-Border Financial Services in Shanghai International Financial Center," which aims to enhance the functionality and global network coverage of the Cross-Border Interbank Payment System (CIPS) [1]. Group 1 - New Morning Technology and Hailian Jinhui reached daily limit up [1] - Qingdao Kingway is close to hitting the daily limit up [1] - Lakala, Xinya Data, and Sifang Precision opened high [1] Group 2 - The central bank and other authorities issued a plan to enhance cross-border financial services [1] - The plan aims to improve the functionality of the CIPS [1] - The initiative will expand the global network coverage of CIPS [1]

Group 1 - The core viewpoint of the article highlights the significant rise in the cross-border payment sector, with companies like New Morning Technology (300542) hitting a 20% limit up, and other firms such as Qingdao Kingking (002094), Lakala (300773), and Xinyada (600571) also experiencing substantial gains [1] - The People's Bank of China and other authorities have jointly issued the "Action Plan for Further Enhancing the Convenience of Cross-Border Financial Services in Shanghai International Financial Center," which aims to enhance the functionality of the Cross-Border Interbank Payment System (CIPS) and expand its global network coverage [1]