Core Insights - China Bank reported a steady growth in revenue and profit for the first three quarters of 2025, with operating income reaching 492.1 billion yuan, a year-on-year increase of 2.72% [1] - The bank's net profit after tax was 189.6 billion yuan, with a year-on-year growth of 1.12%, indicating an improvement compared to the first half of the year [1] - The bank's globalization strategy has become a significant growth driver, with the contribution of global business profits increasing from 16.6% in 2021 to 22.3% in 2024 [1] Globalization Strategy - China Bank has expanded its global network to cover 64 countries and regions, including 45 Belt and Road Initiative countries, enhancing its international competitiveness [1] - The bank is optimizing its overseas institutions' strategies to better align with regional market characteristics, particularly strengthening its presence in Hong Kong and Southeast Asia [2] - The bank's international trade settlement business has seen stable growth, with a 14% year-on-year increase in the coverage of cross-border settlement clients [2] Financial Services and Projects - China Bank is actively involved in financing major projects under the Belt and Road Initiative, providing comprehensive financial services for significant infrastructure projects [3] - The bank maintains a leading position in the Panda bond and offshore bond markets, enhancing its cross-border capital market services [3] Renminbi Internationalization - The Renminbi has become the fourth largest payment currency globally, with China Bank playing a key role in the development of the Cross-Border Interbank Payment System (CIPS) [4] - The bank has significantly increased its cross-border Renminbi clearing volume, maintaining a leading position in the global market [5] Digital Transformation - China Bank is accelerating its digital transformation, expanding its global network and enhancing its service offerings through digital technologies [7] - The bank is actively exploring the use of digital currencies and has initiated various pilot projects in cross-border payment scenarios [7][8] - The integration of artificial intelligence and big data into its operations has improved risk management and operational efficiency [8]

Core Insights - The event in Xiamen marks the 15th anniversary of cross-border RMB policies in Fujian Province, promoting the use of RMB in cross-border trade and investment through policy advocacy and collaboration [1] Group 1: Cross-Border RMB Business Development - Since the pilot launch in 2010, Fujian Province has seen a robust development of cross-border RMB business, with a total business volume exceeding 7 trillion yuan, averaging a growth rate of 27.4% annually [1] - Over 19,000 enterprises have engaged in cross-border RMB business, with Xiamen leading in RMB payment amounts related to current accounts and direct investments [1] - From January to July 2025, Xiamen's cross-border RMB payment amount reached 260.4 billion yuan, reflecting a year-on-year growth of 5.2% [1] Group 2: Policy and Infrastructure Initiatives - The People's Bank of China (PBOC) Xiamen Branch has introduced a "two libraries and one center" scheme to enhance cross-border RMB services for the real economy, including a database of enterprises and a cross-border RMB expert consultation service [2] - A digital trade platform for cross-border RMB services was established in collaboration with local governments and banks, successfully processing its first cross-border RMB transaction on December 5, 2024 [2] - A reward policy for cross-border RMB transactions was implemented, leading to an increase of 21.3 billion yuan in cross-border RMB settlements in 2024 [2] Group 3: Business Process Optimization - The PBOC Xiamen Branch has optimized cross-border RMB business processes, allowing enterprises to benefit from a "pre-approval exemption" policy, facilitating seamless transactions [3] - By July 2025, the number of quality enterprises in Xiamen's cross-border trade and investment expanded to 1,065, with a total of 94.6 billion yuan in facilitated transactions [3] Group 4: Tailored Financial Services - The PBOC Xiamen Branch has tailored cross-border RMB services to meet the specific needs of enterprises, offering a range of financial products including cross-border financing and RMB funding pools [5] - By July 2025, local banks had issued 17.2 billion yuan in RMB loans to overseas entities, enhancing the overall cost efficiency of enterprises [5] - The branch has also focused on providing unique cross-border RMB services for Taiwanese enterprises, expanding service points from 28 to 140 by early 2024 [5]

Core Viewpoint - The People's Bank of China (PBOC) Shanghai Headquarters reported on the financial operation of Shanghai in the first half of 2025, highlighting the implementation of a moderately loose monetary policy to support high-quality economic development in Shanghai [2][3]. Financial Performance - In the first half of 2025, the total social financing scale in Shanghai increased significantly, with a stable growth in credit volume and a decrease in financing costs [3][4]. - By the end of June, the total balance of loans in Shanghai reached 12.85 trillion yuan, a year-on-year increase of 8.4%, which is 1.6 percentage points higher than the national average [4]. - Household loans increased by 13.7% year-on-year, with personal housing loan demand recovering [5]. - Non-financial enterprise loans accounted for 55.2% of the total new loans, indicating a strong demand from this sector [6]. Loan Structure and Costs - The loan structure has been optimized, with significant increases in loans to technology and inclusive finance sectors, with year-on-year growth rates of 28.9% for information technology and 19.7% for research services [7]. - The weighted average interest rate for newly issued corporate loans in June was 2.74%, down 49 basis points from the previous year, marking a historical low [8]. Deposit Trends - The growth rate of various deposits in Shanghai has slowed down, with total deposits reaching 22.9 trillion yuan, a year-on-year increase of 7.5% [10]. - Household deposits grew by 10.7%, while non-financial enterprise deposits increased by 4.8%, showing a slight improvement compared to the previous year [10][11]. Social Financing and Direct Financing - The increment of social financing in Shanghai was 841.8 billion yuan, a year-on-year increase of 324 billion yuan, effectively meeting the financing needs of the real economy [13]. - Direct financing saw significant growth, with net financing from corporate bonds reaching 102.6 billion yuan, an increase of 159 billion yuan year-on-year [13]. Foreign Economic Activity - Shanghai's foreign economic activity remained robust, with total foreign exchange receipts and payments amounting to 2.77 trillion USD, a year-on-year increase of 19% [14]. - The city's foreign trade income grew by 21%, demonstrating resilience amid external pressures [15]. Capital Market and Currency Use - The capital market's attractiveness has increased, with foreign investors showing renewed interest in RMB assets, leading to a net inflow into domestic stocks [17][18]. - The foreign exchange hedging ratio in Shanghai increased to 42.2%, reflecting enhanced awareness and capability among enterprises to manage currency risks [19]. Cross-Border RMB Business - The cross-border RMB settlement volume reached 16.2 trillion yuan, a year-on-year increase of 15%, maintaining a leading position nationally [19][20]. - The use of RMB in cross-border transactions is expected to grow, supported by favorable policies and the ongoing internationalization of the currency [20].

Core Insights - The continuous advancement of the "Belt and Road" initiative has significantly enhanced economic and financial cooperation between China and partner countries, particularly in cross-border RMB transactions [2][3] Group 1: Cross-Border RMB Transactions - In Q1 of this year, the cross-border RMB transaction amount between China and Malaysia reached 102 billion yuan, a year-on-year increase of 27% [2] - The cross-border RMB transaction amount with Cambodia was 5 billion yuan, growing by 45% year-on-year, with goods trade transactions amounting to 1.3 billion yuan, up 23% [2] - In the previous year, the total cross-border RMB transaction amount between China and Malaysia exceeded 300 billion yuan, ranking second among ASEAN countries, with a year-on-year growth rate of 29% [3] Group 2: Policy and Institutional Support - The People's Bank of China and Bank Negara Malaysia have closely collaborated to create a favorable policy environment for bilateral currency settlement, including signing a bilateral currency swap agreement in 2009 [2][3] - In 2023, a memorandum was signed to establish RMB clearing arrangements in Cambodia, with the Bank of China in Phnom Penh designated as the clearing bank [3][4] Group 3: Financial Services and Product Development - Bank of China (Malaysia) has expanded its service offerings, providing a comprehensive range of financial services, including credit, international settlement, trade financing, and cash management, to support Chinese enterprises in market expansion [3] - The Bank of China in Phnom Penh has launched new products, including direct exchange between RMB and Cambodian riel, enhancing settlement options and reducing currency exchange costs [4][5] Group 4: Future Outlook - The use of RMB in cross-border trade and investment is expected to broaden and deepen as China's foreign trade becomes increasingly diversified [5] - The People's Bank of China plans to continue improving policies for cross-border RMB usage, facilitating a more favorable environment for businesses engaging in cross-border trade and investment [5]