关于深化粤港澳三地养老金融合作，《实施方案》明确，支持深圳建设保险创新发展试验区，加快实现 大湾区保险市场互联互通。鼓励省内金融机构为港澳长者提供跨境医疗保险、养老金领取、信托规划、 养老理财、费用代结算等一体化服务，推动更多养老金融产品纳入大湾区"跨境理财通"试点，加力探索 粤港澳大湾区养老金融、资金互通、监管协同的合作范式，加快形成跨境养老金融创新示范。 《实施方案》明确，大力发展长期护理保险。加快建立长期护理保险制度，加强长期护理保险定点护理 服务机构规范化管理，合理规划配置定点长护服务机构，支持引导基层医疗机构提供长期护理服务。支 持商保机构经办养老健康服务，将城市定制医疗险和长期照护保障相结合，提升老年人照护服务质效。 在夯实养老金融发展基础方面，《实施方案》提出，支持广州市建设全省养老金融示范样板。争取深 圳、佛山、东莞、珠海等分批纳入全国特定养老储蓄试点。推进实施"广东院舍照顾服务计划""长者医 疗券大湾区试点""港澳药械通计划"，积极满足粤港澳大湾区跨境养老服务需求。 11月17日，广东省地方金融管理局会同省民政厅、省人力资源和社会保障厅等多部门联合印发《广东省 推动养老金融高质量发展的实施方 ...

《实施方案》提到，深化粤港澳三地养老金融合作机制。支持深圳建设保险创新发展试验区，加快实现 大湾区保险市场互联互通。鼓励省内金融机构为港澳长者提供跨境医疗保险、养老金领取、信托规划、 养老理财、费用代结算等一体化服务，推动更多养老金融产品纳入大湾区"跨境理财通"试点，加力探索 粤港澳大湾区养老金融、资金互通、监管协同的合作范式，加快形成跨境养老金融创新示范。 北京商报讯（记者 李秀梅）11月17日，广东省地方金融管理局发布《广东省推动养老金融高质量发展 的实施方案》（以下简称《实施方案》）。 ...

Core Viewpoint - The financial market connectivity in the Guangdong-Hong Kong-Macao Greater Bay Area is continuously deepening, driven by reforms and opening up, enhancing international competitiveness and attracting global financial institutions [1][2][3]. Financial Market Connectivity - As of September 2025, the cumulative transaction amount of the "Shenzhen-Hong Kong Stock Connect" reached 125 trillion yuan, with the Shenzhen Stock Connect becoming the main channel for foreign investment in A-shares [2]. - The "Cross-Border Wealth Management Connect" has expanded, with a scale exceeding 120 billion yuan, and has seen a significant increase in participation from individual investors [7][9]. Internationalization of Financial Institutions - Domestic banks are actively establishing international operations, with WeBank's subsidiary, WeBank Technology, expanding into markets like Hong Kong and Southeast Asia, and engaging with over 20 partners with intentions exceeding hundreds of millions of dollars [4]. - Local commercial banks, such as Dongguan Bank, are also leveraging Hong Kong as a base for international expansion [5]. Securities Industry Developments - The securities industry is optimistic about the upcoming "Cross-Border Wealth Management Connect 3.0," which is expected to expand its reach beyond the Greater Bay Area to major cities like Beijing and Shanghai [10]. - Several securities firms have increased their capital in Hong Kong subsidiaries, with notable investments from companies like GF Securities and First Capital Securities [11][12]. Cross-Border Insurance Services - The cross-border insurance services are improving, with policies supporting the development of innovative products like cross-border medical insurance [13][15]. - By mid-2023, cross-border vehicle insurance had provided coverage for 90,300 vehicles, and health insurance services had reached over 150,000 individuals [14][15]. Upcoming Events - The 20th China Economic Forum will take place on November 18 in Nansha, focusing on the integration of technology and finance, with participation from government departments, listed companies, and financial institutions [19].

Group 1: Financial Market Connectivity - The financial market connectivity in the Guangdong-Hong Kong-Macao Greater Bay Area is deepening, driven by reforms and opening up, with a cumulative transaction amount of 125 trillion yuan for the "Shenzhen-Hong Kong Stock Connect" by September 2025 [1] - The "Cross-Border Wealth Management Connect" has expanded, with a scale exceeding 120 billion yuan, indicating a growing cross-border financial service market [1] Group 2: International Competitiveness - Three financial center cities in the Greater Bay Area have entered the top ten in the Global Financial Centers Index (GFCI 38), reflecting an increase in international competitiveness [1] - The Greater Bay Area's financial industry is recognized for its large scale, comprehensive elements, and high degree of internationalization, positioning it among the global leaders [1] Group 3: Cross-Border Banking Initiatives - The establishment of WeBank's technology company in Hong Kong marks a significant step for domestic banks in international markets, with over 20 partnerships and intentions exceeding hundreds of millions of dollars [2] - Local banks are actively expanding their international presence, with Dongguan Bank's subsidiary opening in Hong Kong and other global financial institutions increasing their footprint in the Greater Bay Area [3] Group 4: Cross-Border Wealth Management - The "Cross-Border Wealth Management Connect" 2.0 has seen a 120% increase in participating individual investors compared to its previous version, indicating strong market response [4] - Securities firms are optimistic about the upcoming "Cross-Border Wealth Management Connect" 3.0, which is expected to expand beyond the Greater Bay Area to major cities like Beijing and Shanghai [5] Group 5: Cross-Border Insurance Services - The cross-border insurance services are improving, with over 90,000 vehicles insured under the "equivalent recognition" policy and health insurance serving over 150,000 individuals [7] - The insurance sector is actively developing cross-border products, with significant growth in new policies from mainland visitors to Hong Kong, reflecting a robust demand for cross-border insurance solutions [8] Group 6: Investment and Growth in the Greater Bay Area - China Taiping reported an investment scale of 120.3 billion HKD in the Greater Bay Area, highlighting the financial commitment to regional development [9] - The upcoming "2025 Greater Bay Area Technology and Financial Innovation Development Conference" aims to foster collaboration between technology and finance sectors, promoting sustainable growth in the region [13]

Group 1: Financial Market Connectivity - The financial market connectivity in the Guangdong-Hong Kong-Macao Greater Bay Area is deepening, driven by reforms and opening up, with a cumulative transaction amount of 125 trillion yuan for the "Shenzhen-Hong Kong Stock Connect" by September 2025 [1] - The "Cross-Border Wealth Management Connect" has expanded, with a scale exceeding 120 billion yuan, indicating a growing cross-border financial service market [1] - Three financial center cities in the Greater Bay Area have entered the top ten in the global fintech rankings, showcasing the area's increasing international competitiveness [1] Group 2: International Expansion of Banks - Domestic banks are establishing a presence abroad, with WeBank's subsidiary, WeBank Technology, expanding into markets like Hong Kong, Indonesia, Malaysia, and Thailand, and negotiating over 20 partnerships worth several hundred million dollars [2] - Dongguan Bank's subsidiary, Wan Yin International, has opened in Hong Kong, marking a significant step for city commercial banks in internationalization [3] - Global financial institutions are increasing their presence in the Greater Bay Area, with HSBC and Fubon Bank establishing new offices and Santander Bank receiving approval for its Shenzhen branch [3] Group 3: Cross-Border Wealth Management - The "Cross-Border Wealth Management Connect" 2.0 has seen over 160,000 individual investors participating, a 120% increase compared to version 1.0 [4] - The expansion of participating institutions to include securities companies is a significant change in the 2.0 version, with 14 securities firms approved for pilot operations [5] - Securities firms are optimistic about the upcoming 3.0 version, which is expected to expand to major cities beyond the Greater Bay Area, addressing strong overseas investment demand [5] Group 4: Cross-Border Insurance Services - Cross-border insurance services are improving, with policies supporting the development of cross-border medical insurance and vehicle insurance [7] - By mid-2023, cross-border vehicle insurance provided coverage for 90,300 vehicles from Hong Kong and Macao, while health insurance served over 150,000 individuals [8] - China Taiping reported an investment scale of 120.3 billion HKD in the Greater Bay Area, indicating strong engagement in cross-border insurance [9]

Core Viewpoint - The financial market connectivity in the Guangdong-Hong Kong-Macao Greater Bay Area is continuously deepening, driven by reforms and opening up, enhancing international competitiveness and collaboration among financial institutions [1][2][3]. Financial Market Connectivity - As of September 2025, the cumulative transaction amount of the "Shenzhen-Hong Kong Stock Connect" is 125 trillion yuan, with the Shenzhen Stock Connect becoming the main channel for foreign investment in A-shares, while the Hong Kong Stock Connect injects liquidity into the Hong Kong market [2]. - The "Cross-Border Wealth Management Connect" has expanded, with a scale exceeding 120 billion yuan, and has seen a significant increase in participation from individual investors [9]. Internationalization of Financial Institutions - Domestic and foreign banks are increasingly engaging in mutual cooperation, exemplified by WeBank's establishment of WeBank Technology in Hong Kong, which has expanded its reach to multiple markets and engaged over 20 partners with intentions exceeding hundreds of millions of dollars [5][6]. - Global financial institutions are intensifying their presence in the Greater Bay Area, with HSBC and Fubon Bank establishing new offices and Santander Bank receiving approval for its Shenzhen branch [6][7]. Securities Industry Developments - The "Cross-Border Wealth Management Connect" 2.0 has seen over 160,000 individual investors participating, marking a growth of over 120% compared to version 1.0 [9][10]. - Securities firms are optimistic about the upcoming "Cross-Border Wealth Management Connect" 3.0, which is expected to expand beyond the Greater Bay Area to major cities like Beijing and Shanghai [10]. - Guangdong-based securities firms are increasing their investments in Hong Kong subsidiaries to build a second growth curve, with notable investments from firms like GF Securities and First Capital Securities [10][12]. Cross-Border Insurance Services - The cross-border insurance services are improving, with policies supporting the development of cross-border medical insurance and vehicle insurance [14][15]. - As of mid-2023, cross-border vehicle insurance has provided coverage for 90,300 vehicles, and health insurance has served over 150,000 individuals [14][15]. - Insurance institutions are establishing operations in the Greater Bay Area to enhance international business, with companies like PICC Hong Kong and China Taiping actively participating in regional development [16]. Upcoming Events - The 20th China Economic Forum will take place on November 18 in Nansha, focusing on the integration of technology and finance, with over 200 representatives from government, listed companies, and financial institutions expected to attend [20].

Core Viewpoint - The internationalization of the Renminbi (RMB) is a strategic choice for China to enhance its financial power, increase its international economic influence, and mitigate financial risks in the context of a profound adjustment in the global economic landscape [1] Group 1: Role of Financial Institutions - Chinese financial institutions, including commercial banks, policy banks, and investment institutions, play a crucial role in promoting the use of RMB in global trade, cross-border investment, and international reserves through market expansion, product innovation, and liquidity provision [1][2] - The internationalization capability of these institutions, such as risk management and compliance levels, will directly determine the depth of RMB internationalization [1] Group 2: Expanding RMB Settlement Network - Major banks like Bank of China, Industrial and Commercial Bank of China, and Bank of Communications are enhancing RMB cross-border settlement services through the Cross-Border Interbank Payment System (CIPS) and establishing branches along the Belt and Road Initiative [1][2] Group 3: Ensuring Offshore RMB Liquidity - Chinese banks in offshore markets like Hong Kong and Singapore should enhance offshore RMB liquidity by issuing certificates of deposit (CDs) and providing trade financing [2] - Financial institutions are encouraged to lead more issuances of offshore RMB bonds, known as "dim sum bonds," to attract international investors [2] Group 4: Trade Financing and Supply Chain Support - Financial institutions are urged to promote RMB-denominated letters of credit and factoring services to reduce foreign trade enterprises' exchange rate risks, particularly in energy trade with countries like Russia and Saudi Arabia [2][3] Group 5: Strategic Project Financing by Policy Banks - Policy banks such as the China Development Bank (CDB) and Export-Import Bank of China should increase RMB loans for Belt and Road projects, binding offshore RMB usage to these cross-border projects [3] - The effective implementation of currency swap agreements with relevant countries will promote RMB circulation in developing nations [3] Group 6: Expanding RMB Asset Pool - Sovereign wealth funds like China Investment Corporation are encouraged to guide international capital towards RMB assets, increasing their share in sovereign funds [3] - Securities firms and fund companies are actively building bridges for offshore RMB financial markets to facilitate foreign investment in China's bond and stock markets [3] Group 7: Building Financial Infrastructure - Institutions like Shanghai Clearing House and Central Securities Depository are providing bond custody and settlement services to promote the internationalization of the RMB bond market [3] - Innovations in cross-border RMB payments through digital RMB (e-CNY) are being pursued to enhance settlement efficiency and security [3] Group 8: Risk Management and Compliance - Financial institutions are focusing on effectively managing RMB exchange rate fluctuations and liquidity risks, with banks acting as market makers in offshore markets [4] - Compliance with international standards and anti-money laundering regulations is emphasized to enhance the safety and credibility of RMB's cross-border use [4] Group 9: Comprehensive Financial Services - State-owned and joint-stock banks are encouraged to establish branches in major international financial centers and offer comprehensive cross-border supply chain financial products [4][5] - Collaborations with Visa and Mastercard to issue dual-currency RMB credit cards aim to mitigate exchange rate risks for overseas consumers [5] Group 10: Expanding Dim Sum Bond Market - Domestic enterprises are encouraged to issue RMB bonds in offshore markets like Hong Kong and London, with a projected issuance scale of over 1.2 trillion yuan in 2024, reflecting a 35% year-on-year growth [5] - The exploration of cross-border ETF connectivity aims to expand the range of RMB-denominated ETFs available for trading [5] Group 11: Innovation in Cross-Border Insurance Products - New insurance products related to the Belt and Road Initiative and cross-border medical insurance are being introduced, allowing foreign tourists to purchase RMB policies in China [5] - Research into allowing personal pension accounts to invest in offshore RMB bonds and REITs is underway to enhance the global allocation of RMB assets [5]

本文字数：1213字 阅读时间：3分钟 一、监管视角 美国联邦存款保险公司计划裁员。美国联邦存款保险公司近日向员工发送邮件表示，该公司计划裁撤 1250个职位，此举是落实特朗普政府及其政府效率部的劳动力优化倡议。裁员主要采取两种路径：一是 向员工提供自愿离职激励措施；二是在必要时启动正式的裁员程序。 德国候任政府拟依靠税收收入来弥补养老金不足。德国候任政府表示，根据联盟党和社民党达成的联合 政府协议，将保持目前养老金所得替代率48%的水平至2031年，并将依靠税收收入来弥补养老金缺口。 同时，候任政府还拟推动多项养老金措施，例如：给每个德国孩子（18岁以下）每月补助10欧元，用于 第三支柱养老金计划；鼓励公民在达到退休年龄后仍选择继续工作，政府将给予补助等。 我国香港特区加强出口信用保险相关措施以便支持中小企业出口。为应对美国关税措施，我国香港特区 出口信用保险局推出三项支援措施，分别为：延长为中小企业而设的"小营业额保单"投保人提供的免费 付货前风险保障至2026年6月30日；为非"小营业额保单"投保人提供付货前风险保障五折保费优惠；降 低面向新兴市场的费率，帮助出口商开拓新兴市场。 二、企业视野 安联：2 ...