跨境并购再迎政策红利。 近日，《广东省金融支持企业开展产业链整合兼并行动方案》（以下简称《方案》）印发，其中提到"积极探 索联合港澳资本设立跨境整合兼并基金"等诸多举措。此前，深圳、上海等多地政府也已释放跨境并购的政策 利好。 在政策东风与市场内生动力的共同作用下，跨境并购市场持续回暖，呈现出"标的选择更理性、并购模式更灵 活、目标区域更多元"的新趋势。在这波涌动的"春潮"中，中资券商的综合服务能力正尝试勇立潮头。 跨境并购意愿显著增强 为了规范开展跨境整合兼并，《方案》提到，要积极探索联合港澳资本设立跨境整合兼并基金，优化合格境外 有限合伙人（QFLP）和合格境内有限合伙人（QDLP）试点机制，支持港澳金融机构参与内地产业链整合兼 并项目。支持企业在港澳发行离岸人民币债券融资，开展产业链整合兼并。鼓励企业在跨境并购中使用人民币 结算，支持银行机构为跨境并购提供汇率避险产品。优化跨境金融服务，支持企业稳慎有序开展获取市场和资 源等海外兼并。 据证券时报·券商中国记者梳理，深圳市、上海市、安徽省、昆明市等地出台的并购重组支持政策中，也都释 放过相关利好。其中，深圳方面提到，要联通香港资本市场打通境内外并购资源； ...

《广东省金融支持企业开展产业链整合兼并行动方案》日前印发。其中提到，积极探索联合港澳资本设 立跨境整合兼并基金，优化合格境外有限合伙人（QFLP）和合格境内有限合伙人（QDLP）试点机 制，支持港澳金融机构参与内地产业链整合兼并项目。支持企业在港澳发行离岸人民币债券融资，开展 产业链整合兼并。鼓励企业在跨境并购中使用人民币结算，支持银行机构为跨境并购提供汇率避险产 品。优化跨境金融服务，支持企业稳慎有序开展获取市场和资源等的海外兼并。 ...

（文章来源：第一财经） 《广东省金融支持企业开展产业链整合兼并行动方案》近日印发。其中提到，积极探索联合港澳资本设 立跨境整合兼并基金，优化合格境外有限合伙人（QFLP）和合格境内有限合伙人（QDLP）试点机 制，支持港澳金融机构参与内地产业链整合兼并项目。支持企业在港澳发行离岸人民币债券融资，开展 产业链整合兼并。鼓励企业在跨境并购中使用人民币结算，支持银行机构为跨境并购提供汇率避险产 品。优化跨境金融服务，支持企业稳慎有序开展获取市场和资源等的海外兼并。 ...

Core Viewpoint - The establishment of a micro-enterprise financing coordination mechanism aims to enhance financial resource accessibility for small and micro enterprises, with Shanghai Rural Commercial Bank actively participating in this initiative to provide substantial financial support to these businesses [1][2][8]. Group 1: Mechanism Implementation - The joint mechanism launched by the National Financial Supervision Administration and the National Development and Reform Commission focuses on facilitating direct financial support to market entities [1]. - Shanghai Rural Commercial Bank formed a dedicated working group to implement this mechanism, ensuring effective communication with local development and reform commissions to align with policy directions [2]. - The bank has engaged with nearly 100,000 enterprises and disbursed over 230 billion yuan in loans to approximately 20,000 clients within a year of the mechanism's implementation [1][8]. Group 2: Product Innovation and Service Enhancement - Shanghai Rural Commercial Bank has developed a comprehensive product matrix tailored to the diverse financial needs of small and micro enterprises at different growth stages [4]. - The bank's policy-based products, such as entrepreneurial guarantee loans, are leading in the industry, while standardized products like personal property mortgage loans and small credit loans have been optimized for efficiency [4]. - The bank has introduced innovative financing solutions, including a knowledge property pledge financing scheme, to address the unique challenges faced by technology-driven enterprises [8]. Group 3: Collaborative Ecosystem Development - The bank has established a 300-member inclusive finance advisory team to provide not only financing support but also policy interpretation and industry connections for enterprises [7]. - Active engagement in local communities and industries through outreach initiatives has expanded the bank's coverage of small and micro enterprises, facilitating easier access to financial services [7]. - The bank's efforts have contributed to building a sustainable inclusive finance service system, enabling small and micro enterprises to receive necessary funding, policy information, and professional services [8].

Core Insights - The Ningbo branch of the State Administration of Foreign Exchange has focused on addressing the challenges faced by foreign-related enterprises in managing exchange rate risks, achieving a significant increase in the hedging rate to 30.1% in the first seven months of this year, up 11.7 percentage points year-on-year, marking a historical high [1][2] Group 1: Policy Implementation - The branch has implemented targeted policies to support small and micro enterprises, recognizing their sensitivity to exchange rate hedging costs, and has introduced various subsidy measures from 2021 to 2024 [1] - New policies introduced in April 2023, including subsidies for foreign trade enterprises' option business costs, have significantly reduced operational costs for businesses [1] Group 2: Service Enhancement - The branch has improved service quality by encouraging banks to reduce fees and offer preferential spreads, as well as providing specialized credit for exchange rate hedging that does not count against the total credit limit of enterprises [2] - The efficiency of processing hedging transactions has been greatly enhanced, reducing the time taken from 10-15 minutes to under 30 seconds [2] Group 3: Education and Awareness - The branch has promoted the concept of risk neutrality in exchange rate hedging through multiple outreach activities, reaching over 600 enterprises this year [2] - A network of foreign exchange liaison officers has been established, with over 1,100 personnel visiting 26,000 enterprises to provide policy services and enhance awareness of exchange rate risk management [2]

Core Viewpoint - The Bank of China Shandong Branch is actively implementing foreign exchange policies to enhance service delivery to enterprises, aiming to stabilize and improve foreign trade in the province through various initiatives and competitions [1][3]. Group 1: Foreign Exchange Policy Implementation - The bank is conducting the "Lü Trade and Finance for the People" foreign exchange skills competition to promote compliance with foreign exchange regulations and expand the benefits of foreign exchange policies [1]. - Since the beginning of the competition, the bank has focused on enhancing its capabilities in foreign exchange management and service delivery to the real economy, launching multiple initiatives to improve financial services [3]. Group 2: Service Initiatives and Achievements - The bank has organized over 38 promotional events and visited more than 950 enterprises to raise awareness of foreign exchange facilitation policies and encourage participation in the foreign exchange market [3]. - Collaborative efforts with organizations like China Export & Credit Insurance Corporation and the China-Europe Railway Express have been established to provide comprehensive cross-border financial services to export-oriented enterprises [3]. - The bank has served over 1,400 foreign trade enterprises and disbursed loans totaling 4.2 billion yuan, leading among financial institutions in the province [3]. Group 3: Industry-Specific Support - The bank has tailored foreign exchange products and services to meet the specific needs of the wood industry cluster, providing support for both raw material importers and product exporters [4]. - Financial products such as trade financing and cross-border quick loans are offered through digital platforms to meet the financing needs of various enterprises in the wood industry [4]. - The bank plans to continue implementing foreign exchange management requirements and facilitate enterprises' international expansion, contributing to the high-quality development of Shandong's open economy [4].

构建"双循环"格局，推动城市高质量发展，外贸作用不可替代。青岛市委金融办一直高度聚焦外贸领域 高质量发展和外贸企业纾困解难，积极引导金融机构创新产品和服务模式，加大金融支持力度。今年以 来，深入推进"金融+商务"专项对接活动，对于年初摸排的200余家外贸企业融资需求，组织金融机构主 动走访对接，实现新增授信211亿元、新增放款79亿元。组织开展金融政策产品"直播季"外贸专场，邀 请多家金融机构专家开展直播宣传，推动金融政策、信贷产品直达快享。聚焦外贸企业融资难点堵点， 组织银行、保险、担保等各类金融机构密集开展"金融问诊"，探讨具有可行性的融资方案，协调加快贷 款审批。 青岛市委金融办表示，下一步，将以此次活动为契机，积极搭建政金企信息共享和融资互促平台，优化 金融生态环境，完善政策支持体系，为金融机构开展业务创造有利条件，为外贸企业发展提供有力的金 融支撑。助力建设银行充分发挥"速度快、费率优、产品全、服务周"的差异化优势，让金融"活水"精准 滴灌外贸经济高质量发展，为企业扬帆出海推波助力、保驾护航。 中证报中证网讯（记者 张鹏飞）9月16日，"扬帆出海 金融护航——百城万企稳外贸"青岛站活动举行。 本次活 ...

Core Insights - The article emphasizes the importance of cross-border trade in the context of global economic integration, highlighting the challenges posed by exchange rate fluctuations, settlement efficiency, and supply chain coordination [1] Group 1: Exchange Rate Management - Suzhou Bank addresses the "exchange rate anxiety" faced by companies venturing abroad by providing a comprehensive exchange rate risk management system, including forward and swap products tailored to specific business models [2] - A case study illustrates how Suzhou Bank helped an import-export company secure a large commodity order by implementing a risk reversal option strategy, effectively locking in exchange rates and mitigating long-term risks [2] Group 2: Settlement Efficiency - The bank enhances settlement efficiency through technological innovations, enabling rapid fund transfers and automated processing, which are crucial for business expansion [3] - Features such as intelligent remittance paths, OCR invoice recognition, and real-time tracking streamline the cross-border payment process, significantly reducing transaction times and costs [3][4] - The "lightning letter of credit" service allows for same-day issuance of letters of credit, further accelerating the transaction process [3] Group 3: Digital Financial Services - Suzhou Bank's digital cross-border financial services create a "highway" and "moat" for cross-border settlements, facilitating faster and more efficient global business operations [4] - In the first half of 2025, the bank's international settlement volume exceeded $13.6 billion, marking a 30% year-on-year increase, while cross-border RMB settlement volume surpassed 14.5 billion yuan, reflecting a 53% growth [4] Group 4: Global Network Expansion - The bank has established a broad network of over 230 financial institutions across more than 30 countries and regions, enhancing its global reach [5] - Suzhou Bank offers a comprehensive "14+5" service package for enterprises going abroad, covering all aspects of financial services and policy support, thereby strengthening international competitiveness [5]

Group 1 - The core viewpoint of the article emphasizes the importance of cross-border trade and the challenges faced by enterprises, such as exchange rate fluctuations and settlement efficiency, which Suzhou Bank addresses through innovative measures and professional services [2][3][4]. Group 2 - Exchange rate management is crucial for enterprises engaged in cross-border trade, and Suzhou Bank provides tailored hedging services to mitigate risks associated with currency fluctuations [3][4]. - The bank has established a comprehensive exchange rate risk management system, offering products like forward and swap contracts, and conducts in-depth market analysis to support clients [3][4]. - A specific case is highlighted where Suzhou Bank assisted a client in locking in exchange rates for a large commodity order, effectively managing their currency risk [3]. Group 3 - Settlement efficiency is vital for businesses, and Suzhou Bank leverages technology to enhance cross-border payment processes, ensuring rapid and secure transactions [4][5]. - The bank's automated systems streamline the remittance process, reducing costs and improving transaction speed, which is essential for maintaining cash flow in international trade [4][5]. - Innovations such as "lightning letter of credit" services and real-time document tracking significantly reduce processing times for trade finance [4][5]. Group 4 - Suzhou Bank has expanded its international network, establishing relationships with over 230 financial institutions across more than 30 countries, enhancing its global service capabilities [6]. - The bank offers a comprehensive "14+5" service model for enterprises looking to expand internationally, providing financial services and support throughout the overseas business lifecycle [6]. - Collaborations with institutions in Belt and Road Initiative countries strengthen the bank's position in facilitating international market entry for local businesses [6]. Group 5 - The bank's cross-border financial services have shown significant growth, with international settlement volumes exceeding $13.6 billion, a 30% increase year-on-year, and cross-border RMB settlement volumes surpassing 14.5 billion yuan, a 53% increase [5][7]. - Suzhou Bank's performance in the cross-border financial sector has garnered recognition from enterprises and the market, reflecting its professional strength and innovative capabilities [7].

Core Insights - China's foreign trade entities are showing increasing vitality, with 628,000 companies engaged in import and export activities in the first half of the year, marking a historical high and an increase of 43,000 compared to the same period last year [1] - Private enterprises account for 547,000 of these, with a 7.3% growth in import and export activities, representing nearly 60% of the total trade value [1] - Financial regulatory bodies in regions like Henan and Zhejiang are encouraging banks to innovate financial products and services to support foreign trade enterprises [1] Group 1: Financial Support for Foreign Trade Enterprises - The Henan Financial Regulatory Bureau issued a notice to enhance financial services for foreign trade enterprises, while the Zhejiang Financial Regulatory Bureau expanded its outreach to all foreign trade companies [1] - By the end of May, Zhejiang's financial institutions had visited 62,000 foreign trade enterprises and disbursed loans totaling 388.5 billion yuan [1] - The National Financial Supervision Administration and other departments have introduced measures to increase financial support for small and micro foreign trade enterprises, particularly in cross-border e-commerce [1] Group 2: Challenges Faced by Small and Micro Enterprises - Small and micro enterprises engaged in foreign trade are facing significant challenges due to changing international trade conditions and tariff policies [2] - Many banks are focusing on the needs of foreign trade enterprises, providing timely financial services, with Guangxi Rural Commercial Bank integrating various financial services for these companies [2] - As of the end of May, the Zhejiang Rural Commercial Bank system provided cross-border financial services to 55,800 foreign trade enterprises, with loans amounting to 143.979 billion yuan [2] Group 3: Innovations in Financial Services - The long repayment cycle for export trade is increasing the financial pressure on foreign trade enterprises, leading to a shortage of working capital for purchasing raw materials and upgrading equipment [3] - Banks are innovating by breaking traditional credit models and introducing digital financial services to reduce information asymmetry between banks and enterprises [3] - The National Financial Supervision Administration is establishing a financing coordination mechanism to address the financing difficulties faced by small and private enterprises, with over 67 million businesses visited and 12.6 trillion yuan in loans disbursed by May 7 [3]