金融是国民经济的血脉，是国家核心竞争力的重要组成部分，要为经济社会发展提供高质量服务。《中 共中央关于制定国民经济和社会发展第十五个五年规划的建议》（以下简称《建议》）系统阐述了"十 五五"时期经济社会发展的总体要求、指导方针和主要目标，并对加快建设金融强国作出一系列重要部 署。这是"金融强国"首次写入五年规划建议。 作为我国金融体系的主力军，银行业始终坚持服务实体经济的根本宗旨，深刻践行金融工作的政治性、 人民性，以金融"五篇大文章"为核心抓手，统筹推进金融与产业、消费等融合发展，积极构建"金融支 持产业升级—优化产品供给—稳定劳动就业—增加居民收入—激发消费潜能—消费促进产业"的良性循 环，为基本实现社会主义现代化提供坚实有力的金融支撑。 展望"十五五"时期，结合《建议》要求，银行业应积极通过信贷结构优化、产品服务创新、体制机制完 善等方式，精准对接产业升级、科技创新、绿色低碳、乡村振兴、扩大内需等重点领域需求。 更加精准地对接重点领域信贷需求，需要银行业构建全链条产业金融服务体系，精准支持产业升级。 《建议》将"建设现代化产业体系，巩固壮大实体经济根基"置于战略任务首位，提出"坚持智能化、绿 色化、融合 ...

作为我国金融体系的主力军，银行业始终坚持服务实体经济的根本宗旨，深刻践行金融工作的政治 性、人民性，以金融"五篇大文章"为核心抓手，统筹推进金融与产业、消费等融合发展，积极构建"金 融支持产业升级—优化产品供给—稳定劳动就业—增加居民收入—激发消费潜能—消费促进产业"的良 性循环，为基本实现社会主义现代化提供坚实有力的金融支撑。 金融是国民经济的血脉，是国家核心竞争力的重要组成部分，要为经济社会发展提供高质量服务。 《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》（以下简称《建议》）系统阐述 了"十五五"时期经济社会发展的总体要求、指导方针和主要目标，并对加快建设金融强国作出一系列重 要部署。这是"金融强国"首次写入五年规划建议。 展望"十五五"时期，结合《建议》要求，银行业应积极通过信贷结构优化、产品服务创新、体制机 制完善等方式，精准对接产业升级、科技创新、绿色低碳、乡村振兴、扩大内需等重点领域需求。 更加精准地对接重点领域信贷需求，需要银行业构建全链条产业金融服务体系，精准支持产业升 级。 《建议》将"建设现代化产业体系，巩固壮大实体经济根基"置于战略任务首位，提出"坚持智能 化、绿色化、融 ...

11月17日，广东省人民政府办公厅印发的《广东省推动养老金融高质量发展的实施方案》提出，引导保 险资金通过股权、债券、基金、资产支持计划、保险资产管理产品等多种形式，为养老服务运营主体、 老年助餐服务机构提供资金支持。 金融工具凭借长期属性、多元形态与风险分散等优势，成为破解养老产业"投资规模大、回收周期长、 收益回报稳"特性与金融资源配置适配难题的关键抓手。为此，今年以来，多地出台专项政策，明确金 融工具在养老金融领域的赋能作用，以打通社会资本与养老产业的对接通道，推动养老金融加速向市场 驱动转型。 例如，6月份，深圳发布的《关于统筹做好养老金融大文章服务深圳银发经济高质量发展的实施意见》 明确，支持金融机构进一步丰富个人养老金产品差异化供给，推出更多兼具稳健性、普适性的储蓄、理 财、基金、信托、保险等多元化金融产品；8月份，重庆发布的《关于促进重庆市养老金融高质量发展 的实施意见》提出，支持养老理财等养老金融产品，投资与养老特征相匹配的长期优质资产等。 得益于政策的大力护航，各地加速推进金融工具在养老金融领域的实践探索，一系列创新模式接连落 地，不仅让养老金融的"工具箱"持续扩容，更加速形成了"政策引导— ...

Group 1 - The Philippine startup ecosystem has experienced a significant decline in financing, with total funding dropping by 32% year-on-year in 2025 and the number of deals decreasing by 54% compared to 2024 [1] - Entrepreneurs are shifting their focus from rapid expansion to profitability, operational discipline, and sustainable growth models, marking a turning point in the ecosystem's adjustment [1] - Local governance gaps, insufficient business transparency, and recent corruption incidents have weakened investor confidence, putting pressure on financing for early and growth-stage companies [1] Group 2 - Despite the challenges, the startup ecosystem in the Philippines shows resilience, contributing nearly 3% to the nominal GDP and creating around 200,000 jobs, with entrepreneurial activities spreading beyond Metro Manila to cities like Cebu, Davao, Iloilo, and Cagayan de Oro [2] - The innovation ecosystem in the Philippines can be categorized into three phases: Early Builders (2010–2014), Resilient Builders in the post-pandemic period, and the emerging "Intelligent Era" characterized by AI adoption and automation [2][3] - Key trends include increased digital cross-selling of savings, micro-insurance, and credit products in fintech, improved efficiency in logistics and healthcare through AI, and a shift in BPO and knowledge services towards AI-assisted skill upgrades [3] Group 3 - The report emphasizes the need for national-level initiatives in skills retraining, talent pipeline development, and alignment of policy rhythms with industry demands to maintain competitiveness in the rapidly evolving regional digital economy [3] - The level of collaboration within the ecosystem will significantly influence the Philippines' position in the Southeast Asian tech landscape [3] - Innovation remains a crucial driver of regional growth, and the Philippines has the foundational elements of talent, resilience, and creativity to participate in the next wave of innovation [3]

Core Viewpoint - Guangdong Province has launched its first dedicated policy for pension finance, aiming to establish a modern pension finance system that aligns with the region's demographic, industrial, and financial structures [1][2]. Group 1: Implementation Goals - The implementation plan outlines two phases: by 2028, the pension finance supply system will be largely improved, and by the end of the 14th Five-Year Plan, financial support for pension fund utilization will be more mature and stable [2][3]. - Guangdong faces dual pressures from an aging population and increasing demand for pension services, but it also has a strong financial market and high capital supply capabilities [2][4]. Group 2: Product and Service Development - The plan includes measures to enhance the pension finance product system, such as establishing pension finance departments in banks and improving service channels for the elderly [3][4]. - Financial institutions are encouraged to innovate pension products, including long-term care insurance and specialized financial products for personal pensions [3][5]. Group 3: Financial Support for Pension Services - A "white list" mechanism for pension institutions and enterprises will be established to guide financial resources towards compliant and stable pension projects [4][5]. - Various financial tools, including loans, bonds, and asset securitization, will be utilized to promote the development of standardized and large-scale pension facilities [4][6]. Group 4: Rural and Cross-Border Pension Services - The plan emphasizes financial support for home-based and community elderly care services, particularly in rural areas, and encourages the development of inclusive financial products for these services [5][6]. - Cross-border pension finance cooperation is highlighted as a strategic focus, with plans to support cities like Guangzhou in becoming pension finance demonstration cities [5][6]. Group 5: Risk Management and Policy Implementation - A comprehensive risk prevention mechanism will be embedded in the pension finance process, including consumer protection and financial literacy education for the elderly [6]. - The plan establishes a collaborative mechanism for policy implementation, with a focus on creating replicable models for pension finance development across the province [6].

Core Viewpoint - JD.com is entering the Hong Kong insurance market by obtaining an insurance brokerage license and starting recruitment for its subsidiary, JD Insurance Consultants (Hong Kong) Limited, with a focus on serving its mainland customers [2][3][4]. Group 1: Company Developments - JD Insurance Hong Kong has received its insurance brokerage license from the Hong Kong Insurance Authority, allowing it to operate from October 14, 2025, to October 13, 2028, and to offer various insurance products including life insurance and travel insurance [4][5]. - The company is primarily targeting JD Finance's mainland customers for its initial client base, aiming to redirect those interested in Hong Kong insurance to its services [8][9]. - JD Insurance Hong Kong is actively recruiting for various positions, with salaries ranging from 20,000 to 65,000 HKD per month, and is looking for candidates with relevant qualifications and experience in the Hong Kong insurance market [5][6]. Group 2: Market Context - The value of insurance licenses in Hong Kong is increasing, with more mainland visitors purchasing insurance in the region. JD.com joins Tencent and Alibaba in competing for market share in this sector [3][9]. - In 2024, Hong Kong's new insurance premium total reached 219.755 billion HKD, a 22% increase from 2023, with mainland visitors contributing 62.798 billion HKD, representing 29% of the total new premiums [9]. - The trend shows that 41% of high-net-worth individuals from mainland China consider Hong Kong their preferred destination for overseas investment in the next three years, indicating a growing interest in insurance products [9][10]. Group 3: Competitive Landscape - The entry of JD.com into the Hong Kong insurance market marks the beginning of intensified competition among the three major mainland players: JD.com, Tencent, and Alibaba [11][13]. - Tencent has previously established a digital insurance business in Hong Kong through its investment in a local insurance company, while Alibaba has made significant moves by acquiring a life insurance company [11][12].

Core Viewpoint - The company is actively implementing a comprehensive strategy to address the financial service needs of the aging population, focusing on the renovation of service points, product adaptation, and service extension to enhance elderly financial services [1] Group 1: Service Point Renovation - The company has completed the renovation of all 135 service points to meet elderly-friendly standards, ensuring that elderly clients can conveniently access financial and governmental services nearby [3] - The renovated service points include features such as barrier-free access, elderly care zones equipped with necessary facilities, and dedicated service windows for elderly clients, enhancing their comfort and ease of use [2][3] Group 2: Resource Allocation for Elderly Financial Services - The company is directing financial resources towards the development of tailored savings, investment, and credit products that align with the consumption habits of elderly clients [4] - A comprehensive assessment of clients' needs based on age, risk preference, and retirement goals is conducted to provide customized financial planning and support for wealth accumulation [4] - As of the end of September, the company has provided wealth management services to over 300,000 clients aged 60 and above, with a significant number of credit clients receiving loans totaling 716 million [4] Group 3: Extension of Elderly Services - The company is enhancing its elderly financial services through professional training for staff, community volunteer services, and various special activities to meet the diverse needs of elderly clients [5][6] - Volunteer teams have been established to provide on-site services such as haircuts, appliance repairs, and health check-ups, with over 1,000 community service events conducted [6] - The company organizes financial education and community safety activities to improve elderly residents' awareness of fraud and scams, alongside cultural events to enrich their lives [6]

Core Insights - The central bank's interest rate stance significantly impacts various financial products including car loans, credit cards, mortgages, savings, and student loans [1] Group 1: Interest Rate Impact on Loans - Car loans are influenced by the central bank's interest rate decisions, affecting affordability for consumers [1] - Credit card interest rates are also tied to the central bank's rates, which can lead to higher costs for borrowers [1] - Mortgages are directly affected by interest rate changes, impacting home buying and refinancing activities [1] Group 2: Savings and Student Loans - Savings accounts yield lower returns when interest rates are low, affecting consumer savings behavior [1] - Student loans are impacted by interest rates, influencing the cost of education financing for students [1]

Core Insights - The completion of the technical assistance project for the establishment of Djibouti Postal Bank by the French Development Agency and La Poste is a significant milestone in Djibouti's strategic "Djibouti 2035 Vision" [1] Group 1: Project Overview - Djibouti Postal Bank aims to provide accessible savings, credit, transfer, and payment services, particularly targeting youth, retirees, and rural residents [1] - The project is a collaborative effort between the Djibouti government, the French Development Agency, and La Poste [1] Group 2: Employment and Services - A call center will be established to create job opportunities for young people in Djibouti [1] - A one-stop public service center will be set up at the postal institution in the capital to facilitate multiple administrative procedures for users [1] - Collaboration with Amazon France and Cart'in will focus on developing e-commerce solutions [1]

Core Viewpoint - The article discusses the foreign tax credit system in South Korea, particularly in the context of a Supreme Court ruling regarding Chinese enterprises, aiming to provide insights for Chinese companies in tax planning while operating in South Korea [2][4]. Group 1: Introduction of the Issue - International tax jurisdiction is generally divided into resident tax jurisdiction and source tax jurisdiction, leading to potential double taxation for the same taxable income across different countries [3]. - To mitigate international double taxation, countries have established foreign tax credit and exemption systems, allowing taxpayers to offset domestic tax liabilities with taxes paid abroad [3]. Group 2: Case Facts and Disputed Focus - The case involves a branch of a Chinese bank in South Korea that sought to offset taxes paid on interest income from Chinese residents against its Korean tax liabilities, which was contested by the local tax authority [5]. - The Supreme Court ruling clarified that non-resident enterprises' withholding taxes in their home country cannot be included in the "creditable foreign tax amount" for tax offset in South Korea [4][5]. Group 3: Parties' Claims - The Chinese bank argued that as the resident country, China has the right to tax the profits of the permanent establishment, and that non-resident enterprises in South Korea should receive the same foreign tax credit treatment as resident enterprises [6][7]. - The local tax authority contended that the foreign tax credit rules apply only to income sourced from outside South Korea, and that the bank failed to provide proof of tax payment [8][9]. Group 4: Court Rulings - The first instance court ruled in favor of the bank, stating that the tax treaty did not limit China's right to tax [10][11]. - The second instance court overturned this decision, emphasizing that South Korea has priority taxing rights over the income of the permanent establishment, even if the source country is the same as the resident country [12][13]. - The Supreme Court upheld the second instance ruling, reinforcing that South Korea has priority taxing rights when the income source and the resident country are the same [13]. Group 5: Case Analysis - The case exemplifies the complexities of triangular tax situations involving three jurisdictions: the resident country, the source country, and the country where the permanent establishment is located [14]. - The article suggests that resolving such triangular tax issues often relies on bilateral tax treaties, which can be challenging when multiple countries are involved [15]. - The Supreme Court's ruling has significant implications for Chinese enterprises operating in South Korea, indicating that they must prioritize South Korean tax obligations in their tax planning [18].