短短十几分钟的车程，温暖的车厢与外界的寒冷形成鲜明对比，不仅化解了客户因语言不通导致的出行 难题，更以"未办理业务先传递温度"的服务实践，生动展现了农行"有温度的金融服务"。临别时，客户 连声道谢，称赞农行服务"像冬天的暖阳"。 此次服务中，工作人员通过主动观察、精准预判需求，将常规指引服务升级为定制化暖心护航，为提升 跨境金融服务质效提供了生动范本。该行将持续深化"客户至上，始终如一"服务理念，用专业与温度， 守护客户、排忧解难。 近日，农行威海香山路支行以一次跨越国界的暖心服务，生动诠释"客户至上"的理念。11月中旬，一位 外籍客户因导航偏差误入该行营业厅，在语言不通、天寒地冻的情况下，网点主任杨凯主动伸出援手， 一路暖心护送，得到客户由衷的感谢。 当天下午2时许，一位衣着单薄的外籍客户匆匆走进香山路支行大厅，神色焦急，反复查看手机上的导 航路线。网点主任杨凯主动上前，用英语询问情况，得知客户本应前往文登支行营业部办理外汇业务， 因导航错误来到这里。 齐鲁晚报.起来壹点连宁燕通讯员杨凯 杨凯立即递上温水安抚客户情绪，并果断决定："天气这么冷，我送您过去吧。"妥善安排好网点工作 后，他亲自驾车将客户送往目的 ...

Core Viewpoint - The State Administration of Foreign Exchange has released the compliance and prudent operation assessment results for bank foreign exchange businesses for 2025, with ICBC Jiyuan Branch achieving an "A" rating for the third consecutive year, highlighting its strong compliance capabilities and stable operational performance in the foreign exchange sector [1][2]. Group 1: Compliance and Operational Excellence - ICBC Jiyuan Branch has adhered strictly to foreign exchange management policies and established a comprehensive compliance internal control system [1]. - The bank conducts regular specialized training and compliance checks to ensure that foreign exchange operations are standardized and risks are controllable [1]. - The branch has optimized cross-border financial services based on corporate needs and introduced various measures to benefit enterprises [1]. Group 2: Support for the Real Economy - The bank actively implements policies to facilitate trade foreign exchange receipts and payments, creating a "green channel" for compliant enterprises [1]. - It focuses on hedging against exchange rate risks by providing tailored solutions such as forward contracts and options, maintaining a leading position in the regional exchange rate hedging business [1]. - The branch is accelerating its digital transformation to expand the application scenarios of cross-border financial service platforms, enabling online processing of financing and settlement, thereby reducing operational costs for enterprises [1]. Group 3: Collaboration with Regulatory Authorities - ICBC Jiyuan Branch enhances communication and collaboration with regulatory authorities, actively participating in various research and inspection activities [1]. - The bank promptly conveys policy directions and builds a communication bridge between enterprises and regulatory bodies, fostering a positive interaction between regulation and operations [1]. Group 4: Future Commitment - The branch views its continued "A" rating as both an honor and a responsibility, committing to strengthen compliance management and innovate cross-border financial service models [2]. - It aims to enhance the quality of professional services to support local foreign trade enterprises and inject financial momentum into the high-quality development of the regional open economy [2].

Core Viewpoint - The merger of China International Capital Corporation (CICC), Dongxing Securities, and Cinda Securities marks a significant restructuring in the Chinese securities industry, aiming to create a "super investment bank" with enhanced capital strength and comprehensive financial services capabilities [1][2]. Summary by Sections Merger Details - The merger will be executed through a share swap, with CICC as the surviving entity, absorbing all assets, liabilities, and personnel from Dongxing and Cinda Securities [1]. - Following the merger, CICC's total assets are expected to exceed 1 trillion RMB, significantly enhancing its capital strength and positioning it among the top players in the industry [1][4]. Strategic Intent - This merger is a strategic move to align with national policies aimed at cultivating top-tier investment banks and enhancing the financial supply-side reform [2]. - The merger aims to transform scale advantages into comprehensive financial service capabilities, enhancing resilience and international competitiveness [2]. Share Exchange Mechanism - The share exchange prices are set at 36.91 RMB for CICC, 16.14 RMB for Dongxing, and 19.15 RMB for Cinda, reflecting a premium over previous closing prices [2][4]. - Approximately 3.096 billion new shares of CICC will be issued to complete the exchange [3]. Shareholder Protection Mechanisms - The merger includes multiple layers of shareholder protection, such as dissenting shareholder rights and lock-up periods for major shareholders [4]. - The exchange ratios for Dongxing and Cinda shareholders reflect premiums of approximately 23% and 7.6%, respectively, indicating consideration for minority shareholders [4]. Industry Impact - The merger is expected to create a leading "super" securities group, fundamentally reshaping the competitive landscape of the Chinese securities industry [5][7]. - CICC's financial and operational metrics will see a historic leap, setting new benchmarks for industry leaders [5]. Financial Projections - Post-merger, CICC's annualized revenue is projected to exceed 50 billion RMB, with net profits reaching around 15 billion RMB, positioning it among the top three in the industry [5]. - The merger will expand CICC's network to over 400 branches, enhancing its reach to more than 4 million retail clients [5]. Synergy and Operational Efficiency - The merger is expected to enhance capital efficiency and regional coverage, leveraging the strengths of each entity to create a comprehensive service platform [6][10]. - The integration aims to provide a full lifecycle of financial services, from startup to restructuring, enhancing client engagement and operational efficiency [10]. Strategic Vision - The merger aligns with national financial strategies, aiming to reduce the number of institutions while improving quality and service efficiency [12]. - The combined entity will focus on creating a unique ecosystem that integrates investment banking, asset management, and special asset operations [12]. Market Outlook - Analysts maintain a "buy" rating for CICC's A/H shares, citing the merger's potential to strengthen capital and enhance competitive positioning [13]. - The success of the merger will depend on the realization of synergies and the ability to transform from a physical merger to a value-creating entity [13].

2025年12月17日晚间，中金公司（601995）（03908）与东兴证券（601198）（601198.SH）、信达证券 （601059）（601059.SH）同步披露《关于换股吸收合并之重大资产重组预案》（下称"预案"），标志 着酝酿已久的资本市场"三合一"头部券商整合方案正式进入实质性操作阶段。根据公告，三家公司A股 及H股股票将于12月18日开市起复牌。 中金合并案中的定价逻辑与长期信心信号 根据预案披露的交易架构，本次重组将采取吸收合并方式，由中金公司作为存续公司，向东兴证券与信 达证券的全体股东发行A股股票作为对价，交换其持有的目标公司全部股份。交易完成后，东兴证券与 信达证券的法人主体资格将予以注销，其全部资产、负债、业务及人员均由存续方中金公司承继。 根据本次披露的交易预案，本次吸收合并的定价机制以市场化原则为核心，具体以交易各方董事会决议 公告日前20个交易日的股票交易均价作为基准价格。据此，存续方中金公司的A股换股价格确定为36.91 元/股，被吸收合并方东兴证券的换股价格为16.14元/股，信达证券的换股价格为19.15元/股。 | 收 | | 许可项目:证券业务;外汇业务:公募证券投 ...

Core Insights - The Bank of Ghana (BoG) has injected approximately $10 billion into the foreign exchange market since January 2025 to stabilize the cedi exchange rate, part of a broader strategy to meet dollar demand rather than solely defending the cedi [1] - The funding for this intervention comes from unexpected gains from the domestic gold purchasing program, which has not utilized the central bank's foreign exchange reserves [1] - As of December 2024, Ghana's international reserves stood at $9.1 billion, increasing to $11.4 billion by October 2025, with projections suggesting reserves may exceed $12 billion by year-end [2] - The cedi appreciated by 13.9% against the dollar by the end of October 2025, with a year-to-date increase of 32.2% [2] - The BoG has approved a new foreign exchange business framework aimed at guiding its foreign exchange operations, reinforcing its commitment to macroeconomic stability under an inflation-targeting regime [2] - The new framework aims to support reserve accumulation, reduce excessive short-term volatility in the foreign exchange market, and facilitate market-neutral foreign exchange flows [2][3] - Future foreign exchange interventions will follow a "discretionary under structured constraints" approach, ensuring that interventions do not target specific exchange rate levels but address market failures [3]

Core Points - Zhejiang Merchants Bank (浙商银行) announced scheduled system maintenance on November 23, 2025, from 0:10 to 6:00 and on November 26, 2025, from 0:10 to 3:00 to enhance service quality [1] - During the maintenance period, various electronic banking services including online banking, mobile banking, and third-party payment services will experience interruptions or delays [1] - The People's Bank of China will also conduct system maintenance on November 23, 2025, from 0:00 to 6:00, affecting cross-industry business processing at Zhejiang Merchants Bank [1] Service Impact - Affected services include online banking, mobile banking, WeChat banking, digital currency transactions, and various self-service operations such as ATM withdrawals and POS transactions [1] - Notifications via SMS or mobile banking app may experience delays during the maintenance period [1] - Customers are encouraged to contact the 24-hour customer service hotline for any inquiries during the maintenance [2]

Core Viewpoint - Lanzhou Bank, established in 1998 and listed in 2022, operates as a city commercial bank in Gansu Province, providing diversified financial services including traditional banking, foreign exchange, fund sales, and precious metals trading [1] Group 1: Financial Performance - As of Q3 2025, Lanzhou Bank reported revenue of 5.923 billion, ranking 16th in the industry, significantly lower than Jiangsu Bank's 67.183 billion and Ningbo Bank's 54.976 billion, as well as below the industry average of 23.652 billion and median of 11.740 billion [2] - The bank's net profit for the same period was 1.543 billion, placing it 17th in the industry, far behind Jiangsu Bank's 31.895 billion and Ningbo Bank's 22.578 billion, and also below the industry average of 10.212 billion and median of 5.196 billion [2] Group 2: Financial Ratios - Lanzhou Bank's debt-to-asset ratio was 92.20% in Q3 2025, a decrease from 92.79% year-on-year and lower than the industry average of 92.63%, indicating relatively good debt repayment capability [3] - The bank's gross profit margin was 25.45% in Q3 2025, down from 26.77% year-on-year and significantly below the industry average of 45.51%, suggesting a need for improvement in profitability [3] Group 3: Management and Shareholder Information - The chairman, Xu Jianping, received a salary of 1.3502 million in 2024, a decrease of 10,200 from 2023 [4] - As of September 30, 2025, the number of A-share shareholders increased by 5.36% to 101,500, while the average number of circulating A-shares held per shareholder decreased by 5.07% to 41,500 [5]

Core Viewpoint - The article emphasizes the importance of innovation as a core engine for China's economic development, highlighting the role of policy-driven financial support in fostering technological and industrial advancements [1][2]. Group 1: Financial Support for Innovation - The Chinese government has introduced policies to support technological innovation, focusing on early, small, long-term, and hard technology investments [1]. - China Export-Import Bank's Beijing branch has signed financial service cooperation agreements with four tech companies, showcasing the collaboration between banks and enterprises in promoting innovation [1][2]. Group 2: Comprehensive Financial Services - The Beijing branch of China Export-Import Bank has served nearly 100 tech enterprises, with strategic emerging industry loans accounting for nearly 60% of its loan balance [2]. - The bank has established a dynamic adaptation mechanism to tailor financial solutions for different stages of a tech enterprise's lifecycle, addressing challenges such as high R&D costs and financing difficulties [3]. Group 3: Cross-Border Financial Empowerment - The bank plays a crucial role in facilitating international cooperation, particularly under the Belt and Road Initiative, by providing diverse financial tools for enterprises to expand globally [4]. - It assists companies like Ruimaite Medical in overcoming funding challenges for overseas orders, while also helping them navigate international regulations and risks [4]. Group 4: Strengthening Industrial Ecosystems - The bank aims to enhance overall competitiveness by shifting from single enterprise support to ecosystem building, connecting upstream and downstream resources [5]. - Companies like Haibo Sichuang benefit from the bank's support in creating a closed-loop ecosystem from R&D to market expansion [5]. Group 5: Future Development and Strategic Goals - The Beijing branch of China Export-Import Bank is committed to building an innovation and value chain that supports new productive forces, aligning with national strategic goals [6].

Core Insights - The approval of Xiamen International Bank Fuzhou Branch as a pilot bank for high-level cross-border trade has significantly improved the efficiency of foreign exchange transactions for local enterprises [1][3] - The bank's online submission process for foreign exchange payments has reduced the need for complex documentation, increasing transaction efficiency by over 80% [1][3] Group 1: Bank's Initiatives - Xiamen International Bank Fuzhou Branch has focused on enhancing support for key sectors and has actively responded to pilot policies introduced by the State Administration of Foreign Exchange [3] - Since obtaining the pilot bank qualification, the branch has facilitated over 120 million yuan in high-level convenience pilot business, accelerating foreign exchange services for cross-border transactions [3] Group 2: Impact on Local Enterprises - Local enterprises, such as a food production and poultry business, have benefited from the streamlined process, allowing them to conduct frequent cross-border transactions with reduced time and labor costs [1][3] - The bank aims to continue promoting foreign exchange convenience policies to enhance the cross-border trade settlement experience for foreign-related enterprises [3]

Core Viewpoint - Zhejiang Commercial Bank will conduct a computer system maintenance from September 5, 2025, 22:30 to September 6, 2025, 6:00 to enhance service quality [1] Group 1: Maintenance Impact - During the maintenance period, various electronic banking services including online banking, mobile banking, WeChat banking, and third-party payment services will be temporarily affected [1] - Self-service operations such as ATM withdrawals, transfers, POS consumption, and online applications without cards will also experience disruptions [1] - Customers are advised to contact the 24-hour customer service hotline for any inquiries during the maintenance [1]