（文章来源：证券日报） 证券日报网讯 1月5日，邮储银行在互动平台回答投资者提问时表示，我行立足资源禀赋，植根本土发 展，遍布城乡的营业网点及全面赋能的线上渠道，为个人和企业客户提供完备的跨境服务。面向个人客 户，我行提供外币储蓄、国际汇款、结售汇、外币兑换和外币携带证开具等服务，除美元外币理财之 外，携手星展银行对大湾区客户推出跨境理财通（南向通）服务，助力客户实现资产全球配置的多元化 需求。面向企业客户，提供全天候的跨境结算、融资、汇兑等服务，通过与中资银行境外分支机构、全 球系统重要性银行、境外金融市场核心区域银行的业务合作，打造面向全球的国际合作布局，并通过境 外项目融资、跨境银团、跨境担保等助力构建"一带一路"立体互联互通网络。2024年以来，我行成功接 入多边央行数字货币桥，目前数字货币桥已广泛服务于金融、制造、零售、建筑、批发、货运及贵金属 加工等多个行业，凭借秒级到账、全程可溯等优势，有效助力我行境外业务发展。关于我行经营发展及 业务详情，请关注我行官网，以及我行发布的定期报告及相关公告。 ...

证券日报网讯 1月5日，邮储银行在互动平台回答投资者提问时表示，我行立足资源禀赋，植根本土发 展，遍布城乡的营业网点及全面赋能的线上渠道，为个人和企业客户提供完备的跨境服务。面向个人客 户，我行提供外币储蓄、国际汇款、结售汇、外币兑换和外币携带证开具等服务，除美元外币理财之 外，携手星展银行对大湾区客户推出跨境理财通（南向通）服务，助力客户实现资产全球配置的多元化 需求。面向企业客户，提供全天候的跨境结算、融资、汇兑等服务，通过与中资银行境外分支机构、全 球系统重要性银行、境外金融市场核心区域银行的业务合作，打造面向全球的国际合作布局，并通过境 外项目融资、跨境银团、跨境担保等助力构建"一带一路"立体互联互通网络。2024年以来，我行成功接 入多边央行数字货币桥，目前数字货币桥已广泛服务于金融、制造、零售、建筑、批发、货运及贵金属 加工等多个行业，凭借秒级到账、全程可溯等优势，有效助力我行境外业务发展。关于我行经营发展及 业务详情，请关注我行官网，以及我行发布的定期报告及相关公告。 （编辑 楚丽君） ...

Core Viewpoint - The successful integration of digital currency, multilateral central bank digital currency bridge, and traditional cross-border financial processes by ICBC Suzhou Branch marks a significant advancement in cross-border financial applications, facilitating a RMB 30 million digital currency remittance for a technology company in Suzhou to its Hong Kong subsidiary [1] Group 1: Company Initiatives - ICBC Suzhou Branch collaborates with Jiangsu Jinfu Digital Group to implement a new model of "digital RMB + currency bridge + cross-border investment" [1] - The branch focuses on enhancing the efficiency and innovation of cross-border finance, serving as a key player in supporting the real economy and helping enterprises expand internationally [1] Group 2: Financial Infrastructure - The integration of the digital RMB system with the multilateral central bank digital currency bridge provides a new pathway for Suzhou enterprises in cross-border investment, characterized by efficiency, convenience, and security [1] - This practical operation validates the feasibility of digital RMB in cross-border scenarios under capital accounts, contributing to a replicable and promotable "Suzhou experience" for national digital RMB applications [1] Group 3: Strategic Implications - The launch of this innovative business aligns with the Yangtze River Delta integration and the Shanghai-Suzhou urban strategy, establishing a new link for digital financial collaboration between Suzhou and Hong Kong [1] - ICBC Suzhou Branch aims to continue deepening digital financial innovation, providing high-quality cross-border financial services to inject financial momentum into regional economic development [1]

Core Viewpoint - The appreciation of the Renminbi (RMB) against the US dollar is not a short-term trend but a reflection of China's growing economic strength and the shift in the global currency landscape [1][21]. Group 1: RMB Strength - The recent rise of the RMB against the USD is attributed to years of underlying strength, particularly in cross-border payments, which have reduced reliance on Western systems [4][10]. - The Cross-Border Interbank Payment System (CIPS) now has 187 direct participants and 1,559 indirect participants, with 63.7% being foreign entities, covering 122 countries and regions [6]. - The "Multilateral Central Bank Digital Currency Bridge" project utilizes blockchain for real-time cross-border payment settlements, bypassing SWIFT, with 164 transactions completed in 2022, totaling over 150 million yuan [8]. Group 2: USD Weakness - The USD is facing challenges due to high fiscal pressures and rising interest payments, leading to a situation where the Federal Reserve is forced into quantitative easing rather than tightening [15][19]. - The reliance on debt financing for AI industry growth poses risks, as tightening monetary policy could lead to increased financing costs and potential valuation collapses [17]. - The historical over-reliance on printing money without supporting the real economy has led to a decline in the USD's credibility and strength [19]. Group 3: Future Trends - The RMB's appreciation is expected to continue over the next 6 to 12 months, signaling important implications for personal finance and asset allocation [21][26]. - The shift from a USD-dominated currency system to a more diversified one is underway, with the RMB's rise aligning with this trend [24][26]. - Individuals are encouraged to pay attention to RMB-denominated assets, as their attractiveness is likely to increase with the currency's appreciation [26].

Core Insights - The People's Bank of China (PBOC) in Zhongshan has successfully facilitated cross-border RMB remittances for TCL Air Conditioner (Zhongshan) Co., Ltd. through a multi-central bank digital currency bridge, providing efficient and convenient services that have been highly praised by the company [1][2] - Since 2025, the PBOC in Zhongshan has actively promoted digital RMB business innovations, leveraging advantages such as real-time settlement, low costs, and traceability to provide more efficient financial support to the real economy [1][2] Group 1 - The multi-central bank digital currency bridge is a new cross-border payment mechanism established under the framework of the Bank for International Settlements, designed to create a high-efficiency, low-cost, and strongly regulated cross-border payment path [2] - Unlike traditional cross-border remittances that rely on the SWIFT system and intermediary banks, the currency bridge enables direct "point-to-point" settlement, allowing commercial banks to connect directly with central banks [2] - This mechanism has opened a "fast lane" for cross-border remittances, enabling funds to be settled on the same day, achieving "second-level" arrival times, while effectively reducing fees and enhancing fund transparency [2] Group 2 - The PBOC in Zhongshan plans to strengthen business supervision and guide local digital RMB pilot institutions to continuously expand the application scenarios of the currency bridge [2] - The goal is to provide precise and efficient new cross-border payment solutions for more foreign-related enterprises, further empowering local economic development and contributing to the establishment of a high-level open economy [2]

Group 1 - The total assets of financial institutions in China exceeded 520 trillion yuan as of September 2025, with commercial banks' capital adequacy ratio at 15.36% and non-performing loan ratio at 1.52% [1] - The comprehensive solvency adequacy ratio for insurance companies is 186%, while the average risk coverage ratios for securities and futures companies are 295% and 226% respectively [1] - A multi-channel and widely covered cross-border payment system for the renminbi has been established, with significant roles played by the CIPS and various non-bank payment institutions [1] Group 2 - Cross-border payment businesses face three main challenges: complex regulations, settlement and exchange rate risks, and difficulties in local operations due to cultural and institutional differences [2] - Recommendations for overcoming these challenges include establishing local compliance capabilities, collaborating with local banks, and optimizing payment processes to manage currency risks [2] - The demand for flexible settlement and local payments is driven by the growth of cross-border e-commerce, SMEs, and digital trade, with technological innovations providing opportunities for cost reduction and efficiency improvement [3] Group 3 - The trend of strengthening cooperation among cross-border payment institutions is emerging, with a focus on achieving synergy between capital flow, logistics, and information flow [3] - Key factors for Chinese enterprises going global include market selection and layout capabilities, cross-border payment and fund management abilities, local compliance and operational support, as well as risk control and exchange rate management [3]

Core Insights - The People's Bank of China Shenzhen Branch and the State Administration of Foreign Exchange Shenzhen Branch held a press conference to discuss the financial operations in Shenzhen for the third quarter of 2025 [1] Group 1: Digital Financial Development - Shenzhen is actively promoting the pilot program for digital RMB, with nearly 30 million digital wallets opened in the region [1] - Approximately 5,000 merchants have signed contracts in the prepaid consumption sector, managing prepaid funds totaling around 4.7 billion yuan [1] - The multilateral central bank digital currency bridge has conducted business amounting to over 10 billion yuan [1] Group 2: Credit Information Sharing - The national small and micro enterprise fund flow credit information sharing platform has seen 19 banking institutions in the region connect to it by the end of September [1] - There have been over 10,000 effective fund flow authorizations and a total of 80,000 fund flow report queries [1] - Loans totaling 25 billion yuan have been issued by Shenzhen headquarters through the fund flow platform [1]

Core Insights - The People's Bank of China Shenzhen Branch and the State Administration of Foreign Exchange Shenzhen Branch held a press conference on October 24, 2023, highlighting Shenzhen's efforts in developing digital financial applications [1] Group 1: Digital Currency Initiatives - Shenzhen has actively promoted the digital yuan pilot program, with nearly 30 million digital wallets opened in the region [1] - In the prepaid consumption sector, around 5,000 merchants have signed contracts, managing prepaid funds of approximately 4.7 billion yuan [1] Group 2: Central Bank Digital Currency (CBDC) Expansion - The multilateral central bank digital currency bridge has maintained an "expansion" trend, with total business volume exceeding 10 billion yuan [1]

Group 1 - The 2025 Central Asia Regional Economic Cooperation (CAREC) Digital Economy and Digital Trade Conference was held in Hangzhou, focusing on digital payment empowerment for digital trade, cross-border e-commerce, and regional cooperation opportunities [2] - Key officials from China and Central Asian countries emphasized the importance of deepening digital economic cooperation and promoting trade facilitation and the construction of the digital Silk Road [2] - The conference highlighted that digital payments are the "engine" for the development of cross-border trade, enhancing trust and convenience for SMEs and consumers [2][3] Group 2 - The conference shared multiple Chinese case studies, including Hangzhou's cross-border e-commerce innovations and the application of cross-border digital RMB in smart payment [3] - The event aimed to deepen practical cooperation among CAREC member countries in areas such as digital infrastructure, standard building, technology exchange, and talent training [3] - The conference provided new ideas for exploring the deep integration of digital payments and cross-border trade, contributing to regional economic integration and the high-quality construction of the Belt and Road Initiative [3]

Core Insights - Shanghai is positioning itself to challenge the long-standing dominance of New York and London as global financial centers by leveraging financial technology rather than competing on traditional grounds [1][3][12] - The city aims to become a globally competitive financial technology hub within five years, as outlined in its 2020 implementation plan [3][10] - Shanghai's financial institutions are rapidly adopting technologies like artificial intelligence, blockchain, and big data to transform credit assessment and service delivery [3][5] Financial Technology Integration - AI and blockchain technologies are deeply integrated into Shanghai's financial services, leading to significant changes in how services are delivered to individuals and businesses [5][6] - Personalized financial services are evolving from a one-size-fits-all approach to tailored solutions based on over 200 data dimensions, enhancing user experience [6] - Financial technology is addressing the challenges faced by small and micro enterprises in securing loans, shifting the focus from collateral to data-driven assessments [6] Efficiency and Cost Advantages - New payment systems, such as the "multilateral central bank digital currency bridge," demonstrate significant efficiency and cost advantages, enabling near-instantaneous cross-border transactions [8][10] - The use of blockchain technology in commodity financing, exemplified by the Shanghai Nonferrous Metals Network, has drastically reduced the time required for loan approvals from weeks to as little as two hours, improving efficiency by 84 times [6][8] Talent and Policy Support - Shanghai is actively attracting and nurturing talent through initiatives like the "financial technology professional certification" and special visas for top foreign talent [10] - The convergence of technology, talent, capital, and supportive national policies is aimed at establishing Shanghai as a key player in shaping future global financial rules [10][12] Vision for the Future - Shanghai's ambition is not merely to improve its position on the existing financial map but to create a new financial landscape characterized by data depth and technological speed [12] - The rapid cross-border payment capabilities and AI-driven financial services are seen as foundational elements of this new financial world [12]