来源：市场资讯 （来源：遇见浦发） 编者按 2013年，我国第一个自贸试验区---上海自贸试验区正式成立；2014年，与之配套的全新账户体系——自由贸易账户相伴而生，本外币一体化的账户功能和 跨一线自由便利的汇划规则使得自由贸易账户服务了数以万计的境内外市场主体，也见证并承载了国家高水平对外开放和金融领域政策创新的奋进历程。 从上海自贸区初设到海南自贸港封关运作，接续奋斗落地超五十余项"首单"，当政策发令枪响，他们为何总能率先冲线？让我们走进浦发银行这支深耕自 贸赛道十余年的"冠军之师"。 2025年12月18日，海南自贸港迎来历史性时刻——全岛封关运作正式启动，标志着海南自贸港建设进入全新阶段，一条属于自贸金融人的全新"竞技场"也 徐徐展开。 作为海南自贸港首批上线FT（自由贸易账户）和EF（多功能自由贸易账户）的股份制商业银行，浦发银行已落地EF账户转手买卖、社会团体EF账户开 立、覆盖多类型市场主体的境外放款等多项首单业务，封关当日的第二单跨境资管业务，又再次在全市场首单的基础上实现了合作发行机构类型从"基 金"至"券商"的边界拓展，一次次行云流水般完美的"破门"，恰是浦发银行多年以来深耕自贸金融业务、 ...

1月29日，人民银行上海总部召开2026年第一季度新闻发布会，系统介绍2025年上海金融运行情况。从 披露的数据来看，在外部环境复杂、国内经济修复仍在推进的背景下，上海金融运行总体保持平稳，多 项关键指标出现积极变化，结构性改善特征进一步显现。 数据显示，2025年上海社会融资规模同比多增1021亿元，融资结构持续优化，企业融资成本处于历史低 位区间；自由贸易账户（FT账户）功能升级试点启动后首月运行平稳，跨境资金收付规模接近500亿元 人民币；跨境人民币业务在规模和结构上同步提升，全年收付金额达32.4万亿元，占全国比重46%，继 续保持全国第一。 更具变化意义的是融资结构的调整。2025年上海直接融资增加3419亿元，占社融增量29.4%，较上年提 升约15个百分点；同期，对实体经济发放的人民币贷款增加6589亿元，占比56.6%。其中，各类主体债 券净融资2872亿元，同比多增1517亿元。 从信贷规模来看，贷款保持平稳增长。截至2025年12月末，上海本外币贷款余额13.07万亿元，同比增 长6.5%，略高于全国平均水平；全年新增贷款7967亿元。从增速看，信贷扩张并不激进，节奏相对稳 定。 在部门分 ...

1月29日，人民银行上海总部召开2026年第一季度新闻发布会，系统介绍2025年上海金融运行情况。从 披露的数据来看，在外部环境复杂、国内经济修复仍在推进的背景下，上海金融运行总体保持平稳，多 项关键指标出现积极变化，结构性改善特征进一步显现。 数据显示，2025年上海社会融资规模同比多增1021亿元，融资结构持续优化，企业融资成本处于历史低 位区间；自由贸易账户（FT账户）功能升级试点启动后首月运行平稳，跨境资金收付规模接近500亿元 人民币；跨境人民币业务在规模和结构上同步提升，全年收付金额达32.4万亿元，占全国比重46%，继 续保持全国第一。 业内人士认为，与"总量扩张"相比，2025年上海金融运行更值得关注的是结构变化和制度含量的提升， 这些变化将对"十五五"时期上海金融体系的运行模式产生更为深远的影响。 融资结构符合高质量发展要求 从总量看，金融对实体经济的支持力度保持在合理区间。数据显示，2025年全年，上海社会融资规模增 加11632亿元，同比多增1021亿元。 更具变化意义的是融资结构的调整。2025年，上海直接融资增加3419亿元，占社融增量的29.4%，较上 年提升约15个百分点；同期， ...

Core Insights - The Guangzhou Nansha District is experiencing significant policy effects from the "Nansha Plan," particularly in tax incentives, market access, and financial openness, with key indicators showing accelerated development outcomes [2][3] Tax Incentives - Since the implementation of three regional tax incentive policies in 2022, by the end of November 2025, 60 enterprises in Nansha have benefited from a 15% corporate income tax reduction, resulting in a total tax relief exceeding 2.1 billion yuan [2] - Personal income tax reductions for Hong Kong and Macau residents have reached 150 million yuan, with an average tax burden decrease of over 50% [2] - The Qicheng Hub area has become a popular location for Hong Kong and Macau enterprises, with over 210 registered and settled companies in the Yuexiu iPARK Guangdong-Hong Kong Smart Valley [2] Market Access - The "Nansha Opinions" issued by three national ministries in 2023 have facilitated institutional openings in sectors such as biomedicine and intelligent unmanned systems [3] - Nansha has achieved several national firsts in clinical applications related to cell and gene therapy, including treatments for thalassemia and liver failure [2] - Over 40 well-known enterprises in the cell and gene field have gathered in the district, with multiple stem cell treatment projects entering clinical application stages [2] Financial Openness - The "Nansha Financial 30 Measures" released in May 2025 support the establishment of a cross-border financial hub, leading to significant financial innovations [3] - Nansha successfully executed Guangdong's first foreign currency direct borrowing for a financial leasing company and expanded the foreign debt quota for a subsidiary to nearly 2.5 billion yuan [3] - The Free Trade Account (FT Account) system has opened over 9,700 accounts, with cross-border settlement volume reaching 4.92 trillion yuan, significantly reducing the time for capital settlement for Hong Kong-funded enterprises by over 50% [3] Policy Synergy - The interlinking of tax incentives, relaxed market access, and financial openness has created a comprehensive support system covering industrial incentives, institutional innovation, and financial backing [3] - Nansha aims to continue promoting policy implementation and deepen the integration of Guangdong-Hong Kong-Macau regulations to build a global cooperation platform [3]

Core Insights - Nansha has become a significant strategic platform for national development, benefiting from accelerated policy dividends as it achieves the first phase of the "Nansha Plan" [1] Tax Incentives - In 2022, three regional tax incentive policies were introduced, including a reduced corporate income tax rate of 15% for eligible industries starting January 1, 2022 [1] - As of November 2025, 60 enterprises have benefited from the 15% corporate income tax incentive, with a total tax reduction exceeding 2.1 billion yuan [2] - The number of Hong Kong and Macau enterprises in the Nansha area has increased fivefold over three years, with over 210 registered and settled enterprises [1][2] Market Access and Innovation - In 2023, the "Nansha Opinions" were issued to relax market access and enhance regulatory reforms, particularly in the biomedicine and intelligent unmanned systems sectors [2] - Nansha has achieved national firsts in cell and gene therapy, including the first clinical applications for thalassemia and liver failure treatments [2][3] - The implementation of a comprehensive unmanned system management platform is underway, enhancing operational efficiency across various sectors [3] Financial Support and Open Economy - The "Nansha Financial 30 Measures" were introduced in May 2025 to support financial openness and innovation, positioning Nansha as a key international financial hub [3][4] - The Free Trade Account (FT Account) system has opened over 9,700 accounts, facilitating nearly 5 trillion yuan in cross-border settlements [4] - Nansha has pioneered climate financing standards and products, including the first "climate financing + rural revitalization" loans and "green climate loans" [5] Future Development - Nansha aims to create a high-quality development loop integrating industrial incentives, institutional innovation, and financial support, focusing on optimizing the business environment and enhancing cooperation with Hong Kong and Macau [5]