版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 在11月18日举办的第二十届中国经济论坛平行论坛——2025大湾区科技与金融创新发展大会上，证券时报社党 委书记、社长兼总编辑程国慧代表主办方致辞，深入剖析科技与金融深度融合的时代逻辑与探索实践。 程国慧指出，南沙是粤港澳大湾区这片热土上一颗冉冉升起的璀璨新星，依托得天独厚的区位优势，叠加国家 战略赋能，形成了人工智能、生物医药、高端装备等新兴产业企业集群，成为连接港澳、辐射全国、面向世界 的重要门户，为科技与金融的深度融合提供了广阔舞台。 科技创新是高质量发展的核心驱动力。党的二十届四中全会公报多次提及"科技""创新"和"新质生产力"，并鲜 明提出"加快高水平科技自立自强"的战略目标。程国慧指出，这些都充分彰显党中央对科技创新的高度重视， 也预示着"十五五"时期，我国将以更大力度推动科技引领经济发展，坚定"抢占科技制高点"的战略决心。此 外，政策层面明确要求构建与科技创新相适配的科技金融体系，则为二者的深度融合指明了清晰方向。 作为中国式现代化的关键施工图，"十五五"规划承载着实现中 ...

科技创新是高质量发展的核心驱动力。党的二十届四中全会公报多次提及"科技""创新"和"新质生产 力"，并鲜明提出"加快高水平科技自立自强"的战略目标。程国慧指出，这些都充分彰显党中央对科技 创新的高度重视，也预示着"十五五"时期，我国将以更大力度推动科技引领经济发展，坚定"抢占科技 制高点"的战略决心。此外，政策层面明确要求构建与科技创新相适配的科技金融体系，则为二者的深 度融合指明了清晰方向。 作为中国式现代化的关键施工图，"十五五"规划承载着实现中华民族伟大复兴的历史使命。程国慧指 出，当前百年变局加速演进，新一轮科技革命和产业变革向纵深推进，科技与金融创新如同车之两轮、 鸟之两翼，亟须形成双向奔赴、共生共荣的良性互动。 （原标题：证券时报社党委书记、社长兼总编辑程国慧：科技与金融创新 是互促共进的"双螺旋"） 证券时报记者 卓泳 在11月18日举办的第二十届中国经济论坛平行论坛——2025大湾区科技与金融创新发展大会上，证券时 报社党委书记、社长兼总编辑程国慧代表主办方致辞，深入剖析科技与金融深度融合的时代逻辑与探索 实践。 程国慧指出，南沙是粤港澳大湾区这片热土上一颗冉冉升起的璀璨新星，依托得天独厚的区 ...

人民财讯11月18日电，11月18日，第二十届中国经济论坛平行论坛——2025大湾区科技与金融创新发展 大会在广州南沙隆重举行。证券时报社党委书记、社长兼总编辑程国慧在致辞中指出，科技与金融创新 从来不是两条平行线，而是相互缠绕上升的"双螺旋"。纵观全球湾区，旧金山以"风投+硅谷"模式崛 起，纽约凭借"华尔街+东岸科创走廊"长青，东京借"银团贷款+高端制造"称雄。粤港澳大湾区要乘势而 上，金融血液浸润科技骨骼必将会形成完美的"量子纠缠"状态。目前，大湾区跨境金融业务加速推进， 为科技金融发展注入新动能。横琴、前海、南沙、河套四大合作平台持续发力，形成了覆盖面广、协同 高效的跨境金融政策体系。从"跨境支付通""互换通""债券通"到"跨境理财通""双Q"试点等一系列创新 产品与机制，不断打通资金跨境流动堵点，为大湾区科创企业对接全球资源、深化国际合作提供了有力 支撑。 ...

本报记者 毛艺融 交投愈发活跃 在沪深港通推出之前，投资者可通过合格境外机构投资者计划（QFII）及人民币合格境外机构投资者计划（RQFII）买卖 中国内地市场股票，但仅限于符合条件的机构投资者。因此，2014年推出的沪港通是内地与香港市场之间首个可供广泛投资者 使用的市场互联互通机制。 过去11年，互联互通在产品覆盖范围、交易结算机制、投资者参与等多个维度都取得了显著成效，不仅为境内外投资者提 供了更加便捷高效的跨境资产配置渠道，也为两地资本市场注入了新的流动性与活力。 沪深港通成交活跃度稳步提升。Wind资讯数据显示，截至2025年11月16日，年内南向资金净买入额约1.3万亿港元，自开 通以来累计净买入规模超5万亿港元。 香港交易所三季报显示，2025年第三季度沪深股通及港股通成交量实现强劲增长，两者平均每日成交金额同创历季新高。 2025年前三季度，沪深股通和港股通的平均每日成交金额分别达2064亿元人民币和1259亿港元，分别同比上升67%和229%。 在内地和香港上市的合资格ETF于2022年7月份开始被纳入沪深港通。 2014年11月17日，沪港通正式运行，开创互联互通这一全新的资本市场开放模式 ...

Core Insights - The Hong Kong Financial Secretary highlighted the significant growth potential in international gold trading as a new growth area [1] - A memorandum of cooperation will be signed with Shenzhen to create a deeply integrated regional gold trading ecosystem [1] - Financial technology is also identified as a key growth point, with plans to enhance collaboration in this sector between Hong Kong and Shenzhen [1] Group 1 - The establishment of the Shenzhen-Hong Kong Financial Cooperation Committee has led to notable progress in deepening financial cooperation between the two regions [1] - Hong Kong is optimizing its listing approval processes and has introduced a "Tech Company Fast Track" to assist mainland tech firms in raising funds [1] - Shenzhen is positioned as a core engine of innovation, attracting internationally viable enterprises that can benefit from Hong Kong's professional services [1] Group 2 - Mechanisms like "Stock Connect," "Bond Connect," and "Wealth Management Connect" have seen significant growth since their launch, with "Wealth Management Connect 2.0" showing an eightfold increase in cross-border remittance amounts compared to its predecessor [2] - The introduction of "Cross-Border Payment Connect" facilitates rapid payment system connectivity between the mainland and Hong Kong, addressing the needs of residents in the Greater Bay Area [2] - The Financial Secretary emphasized the need to optimize existing connectivity mechanisms and explore innovative products to enhance investor choices and support the opening of the national financial market [2]

Core Viewpoint - The People's Bank of China emphasizes the importance of strengthening Hong Kong's status as an international financial center and enhancing its role in national financial reform and opening up [1] Group 1: Financial Market Connectivity - The People's Bank of China is actively deepening the connectivity of financial markets between the mainland and Hong Kong, optimizing mechanisms such as Bond Connect, Cross-Border Wealth Management Connect, and Swap Connect [1] - As of the end of September, 1,176 foreign institutions have entered the domestic bond market, covering 80 countries and regions, with a bond holding scale of 3.8 trillion yuan [2] - The Swap Connect has recorded over 15,000 transactions with a total nominal principal amount of approximately 8.15 trillion yuan [2] Group 2: Offshore RMB Market Development - The People's Bank of China supports the development of Hong Kong's offshore RMB market, including a 100 billion yuan trade financing liquidity arrangement launched in February, which has initiated transactions of nearly 30 billion yuan by the end of September [2] - The issuance of RMB central bank bills in Hong Kong has been normalized, with 255 billion yuan issued in seven batches from January to September, increasing the total balance to 170 billion yuan [2] Group 3: Financial Services Connectivity - The number of banks allowing Hong Kong and Macau residents to open accounts has expanded to eight, with 475,000 accounts opened and transaction amounts reaching 41.8 billion yuan [3] - 72% of these accounts are linked to mobile payments, significantly facilitating the lives of Hong Kong and Macau residents in the mainland [3] - 78 Hong Kong-funded enterprises in Shenzhen have received bank financing totaling 2.1 billion yuan by the end of September [3] Group 4: Future Initiatives - The People's Bank of China will continue to support Hong Kong's development, deepen financial market connectivity, and enhance practical cooperation, particularly in supporting the Guangdong-Hong Kong-Macao Greater Bay Area [3] - There will be ongoing efforts to promote high-level financial openness and improve cross-border investment and financing convenience [3]

Core Viewpoint - The Hong Kong International Financial Leaders Investment Summit highlighted the importance of Hong Kong's role in global finance and the opportunities presented by the "15th Five-Year Plan" for its future development [1][2]. Group 1: Economic and Financial Developments - Hong Kong is recognized as the world's freest economy and has achieved significant rankings in global talent and competitiveness, with a rise to fourth in the World Talent Ranking and third in the World Competitiveness Report [5]. - The Hong Kong stock market has seen a year-to-date increase of over 30%, with a significant rise in daily trading volume, nearly doubling compared to the previous year [5]. - In the first ten months of the year, Hong Kong completed 80 IPOs, raising over $26 billion, making it the top global market for IPO fundraising [5]. Group 2: Financial Infrastructure and Innovation - The Hong Kong government is working on reforms to enhance the listing mechanism, facilitate overseas financing, and improve transaction and risk management efficiency [5]. - A roadmap for the development of fixed income and currency markets was released, aiming to enhance primary market issuance and increase secondary market liquidity [6]. - Hong Kong has over 1,200 fintech companies and is committed to becoming a global hub for digital assets, supported by a forward-looking regulatory framework [6]. Group 3: Cross-Border Financial Cooperation - The People's Bank of China is focused on deepening the interconnection between mainland and Hong Kong financial markets, enhancing the offshore RMB market, and optimizing cross-border financial services [9][10]. - Initiatives such as "Bond Connect" and "Wealth Management Connect" have been expanded to facilitate cross-border investment and improve market access for foreign investors [9][10]. - The Chinese government is committed to supporting Hong Kong's development as an international financial center, particularly in the context of the Greater Bay Area and the Belt and Road Initiative [12][14]. Group 4: Regulatory and Risk Management - The China Securities Regulatory Commission is set to introduce more measures to enhance the openness of the capital market and improve cross-border investment facilitation [16][18]. - There is a focus on strengthening regulatory cooperation to prevent financial risks and ensure the stability of the financial system [19]. - The regulatory framework will be enhanced to support the development of green finance and digital currency, promoting sustainable financial practices [15][19].

Core Insights - The Hong Kong International Financial Leaders Investment Summit highlighted the importance of Hong Kong's role in global finance and its future opportunities under the "15th Five-Year Plan" [1][2][3] Group 1: Hong Kong's Financial Position - Hong Kong is recognized as the world's freest economy and ranks first in Asia for talent according to various reports [3] - The city has seen a stock market increase of over 30% this year, with an average daily trading volume nearly doubling compared to last year [3] - Hong Kong completed 80 IPOs in the first ten months of the year, raising over $26 billion, leading the global IPO fundraising rankings [3] Group 2: Financial Reforms and Initiatives - The Hong Kong government is reforming its listing mechanisms to facilitate overseas financing and enhance trading and risk management efficiency [4] - A roadmap for the development of fixed income and currency markets was released to improve primary market issuance and increase secondary market liquidity [4] - The government aims to establish Hong Kong as the largest cross-border wealth management center globally [4] Group 3: Financial Technology and Innovation - Over 1,200 fintech companies have emerged in Hong Kong, with a commitment to becoming a global digital asset hub [5] - The government is working on a forward-looking regulatory framework to support the sustainable development of the fintech industry [5] Group 4: Mainland-Hong Kong Financial Cooperation - The People's Bank of China is enhancing the interconnectivity between mainland and Hong Kong financial markets, optimizing mechanisms like "Bond Connect" and "Cross-Border Wealth Management Connect" [6][7] - The central bank has supported the establishment of a $15 billion RMB trade financing liquidity arrangement to provide stable funding sources for banks in Hong Kong [7] Group 5: Future Development and Strategic Goals - The National Financial Regulatory Administration emphasizes the need for deeper financial cooperation between the mainland and Hong Kong, leveraging Hong Kong's advantages to enhance its status as an international financial center [8][9] - The focus will be on expanding high-level financial openness and enhancing the convenience of financial services in the Greater Bay Area [9][10]

Core Viewpoint - The People's Bank of China is actively supporting the development of Hong Kong as an international financial center, focusing on enhancing market connectivity and building the offshore RMB market [1][2]. Group 1: Financial Market Connectivity - The People's Bank of China is deepening financial market connectivity between the mainland and Hong Kong, responding to market demands by optimizing mechanisms such as Bond Connect, Cross-Border Wealth Management Connect, and Swap Connect [1]. - In 2023, the bank has supported various foreign institutional investors in conducting bond repurchase transactions in the mainland and launched offshore bond repurchase business in Hong Kong using Bond Connect bonds as collateral [1]. Group 2: Offshore RMB Market Development - The People's Bank of China is actively supporting the construction of the offshore RMB market in Hong Kong, facilitating services such as account opening, cross-border payments, and credit reporting [1]. - As of the end of September, 1,176 foreign institutions have entered the domestic bond market, covering 80 countries and regions, with a total bond holding scale of 3.8 trillion yuan [2]. Group 3: Financial Services Statistics - By the end of July, 164,600 individual investors participated in the Cross-Border Wealth Management Connect business, with a total remittance amount of 120.9 billion yuan [2]. - As of the end of August, Swap Connect has recorded over 15,000 transactions, with a total nominal principal amount of approximately 8.15 trillion yuan [2].

Core Insights - The core viewpoint of the news is that Bank of Communications has demonstrated steady operational development in the first three quarters of 2025, with key financial indicators showing positive growth compared to the previous year [1][2]. Financial Performance - The bank achieved operating income of 199.645 billion yuan, representing a year-on-year increase of 1.80% [1]. - Net interest income and net fee and commission income both experienced positive growth, increasing by 1.46% and 0.15% respectively [1]. - The net profit attributable to shareholders reached 69.994 billion yuan, up by 1.90% year-on-year [1]. - Total assets amounted to 15.50 trillion yuan, reflecting a growth of 4.02% compared to the end of the previous year [1]. Loan and Financial Services - The customer loan balance stood at 9.07 trillion yuan, marking a 6.04% increase from the end of the previous year, with an additional 31.2 billion yuan year-on-year [1]. - The bank has focused on enhancing financial services for the real economy, with significant growth in technology finance, digital finance, pension finance, and manufacturing loans, all exceeding the average growth rate of corporate loans [1]. Strategic Initiatives - As a state-owned bank headquartered in Shanghai, Bank of Communications is deeply integrated into the strategic tasks assigned to Shanghai, enhancing its capabilities in technology finance and expanding its market leadership in financial services [2]. - The bank has established cooperation with 65 major municipal projects and 191 district-level projects in Shanghai during the reporting period [2]. - The bank facilitated "Bond Connect" transactions totaling 650.1 billion yuan and "Swap Connect" transactions of 634.4 billion yuan [2]. Risk Management - The bank maintains a prudent management philosophy, focusing on refined risk management and enhancing control over key risk areas [2]. - The non-performing loan ratio is reported at 1.26%, a decrease of 0.05 percentage points from the end of the previous year [2]. - The provision coverage ratio stands at 209.97%, an increase of 8.03 percentage points compared to the end of the previous year [2].