近日，招商银行在2025财富合作伙伴论坛宣布，该行零售AUM（管理客户总资产）余额已突破16万亿 元，成为国内首家达成此里程碑的股份制商业银行。 招行的财富管理走出了加速度。自2007年在行业内率先提出零售AUM的经营理念以来，招商银行达成 第一个5万亿用时整整9年，第二个缩短至5年，而此次超越第三个5万亿仅用3年多。 不仅是AUM总量数据，从金融产品分品类的数据和零售个人客户体量等方面，也能反映出招行财富管 理的加速前行，公募非货基金和理财保有规模持续同业首位，零售代销保险存量保费规模突破万亿，服 务个人客户数超过2亿。以上成就，标志着招行在大财富管理战略深化、客户服务能力提升及开放平台 生态建设方面迈入新阶段，彰显了穿越市场周期的经营韧性。 AUM加速：最近3年多突破第三个5万亿，增量再创历史新高 在高质量发展的路线指引下，伴随着降费政策的相继落地，银行财富管理模式在持续推进从GMV到 AUM的范式迁移，相比"卖出去"更关注"留得住"。近几年来，招商银行始终坚持以AUM为纲的总体策 略，坚守"以客户为中心，为客户创造价值"的初心，业务规模稳步增长。 数据会说话。18年前的2007年，招商银行在行业内率先提 ...

近日，招商银行在 2025 财富合作伙伴论坛宣布， 该行零售 AUM （管理客户总资产）余额 已突破 16 万亿元，成为国内首家达成此里程碑的股份制商业银行。 品类突破：非货和理财保有规模持续同业首位，零售代销保险存量保费规模突破 1 万亿元 16 万亿零售 AUM 的构成中，招行也尽显高质量发展成色。作为中国领先的股份制商业银行 之一，招商银行不断创新金融产品和服务模式，满足广大客户多元化的金融需求。招行推出 的 " TREE 资产配置服务体系 " ，搭建了一套完整、标准、数字化的服务体系，围绕客户活 钱、稳健、进取、保障四大类需求提供专业、个性化的资产配置建议，累计服务客户破千 万。在产品布局上，招行构建了理财、基金、保险、私募、海外、黄金、存款等 7 大产品 线，在统一策略指引下，各业务齐头并进，促进了 AUM 和收入结构的均衡发展。根据招商 银行 2024 年年报的数据，其零售 AUM 中存款占比不到 30% ，客户在基金、理财、保险 等金融产品的配置意识更强，也印证招行的财富管理的服务能力更为突出。在零售客户的金 融产品理财分类中，招行公募非货基金和理财保有规模持续位居同业首位，而保险产品保有 规模 ...

Core Viewpoint - The launch of the "Cross-Border Payment Link" in Hainan facilitates efficient and secure cross-border payment services between Hainan and Hong Kong, meeting the demand for instant fund transfers [2][3]. Group 1: Business Implementation - Six financial institutions in Hainan, including ICBC, ABC, BOC, CCB, BOCOM, and CMB, have successfully implemented the "Cross-Border Payment Link" as of June 22 [2]. - As of July 21, these banks completed 2,593 transactions through the "Cross-Border Payment Link," totaling 16.499 million yuan [2]. - The breakdown of transactions includes 2,109 southbound remittances (from mainland to Hong Kong) amounting to 14.5826 million yuan and 484 northbound remittances (from Hong Kong to mainland) totaling 1.9164 million yuan [2]. Group 2: Service Features - The "Cross-Border Payment Link" connects China's rapid payment system with other monetary authorities' systems, providing a fast, convenient, and secure cross-border payment service for residents [2]. - This rapid payment system allows for real-time fund transfers, distinguishing it from traditional payment systems [2]. Group 3: Future Developments - The People's Bank of China Hainan Branch plans to enhance the promotion of the "Cross-Border Payment Link" and integrate it with Hainan's free trade port development and trade innovation [3]. - The initiative aims to expand business scenarios in areas such as international education, healthcare, and salary payments, providing new financial support for the island's operations [3].

本报记者彭扬 6月20日，中国人民银行与香港金融管理局联合举办内地与香港快速支付系统互联互通启动仪式。 中国人民银行行长潘功胜表示，跨境支付通以两地货币当局基础设施直接互联的方式，为两地共同 提供线上、快速的双边本币及双边人民币的汇款服务，将进一步提升跨境支付的效率和体验，便利两地 经贸合作和人员往来，为香港发展注入新的活力，也将进一步促进人民币的跨境使用，推动高水平对外 开放。 "跨境支付通突破了时间和地点的界限，两地居民只需要输入对方的手机号码，就可以轻松地进行 个人小额汇款等，实现轻松一转，立刻到账。"香港金融管理局总裁余伟文说。 提供更加便捷的支付体验 军人身份证件和武装警察身份证件的境内居民个人从内地参与银行账户汇出至香港参与机构账户， 北向便利化汇款业务支持持有香港身份证的香港居民个人从香港参与机构账户汇入至内地参与银行账 户。跨境支付通还支持参与机构提供双向的留学缴费、医疗缴费、薪酬及津补贴发放等便民、惠民金融 服务。参与机构可根据市场交易主体类别、交易特征、业务场景等，从风险防控角度合理确定各类业务 的单笔或累计交易限额。 首批参与跨境支付通的内地机构包括：工商银行、农业银行、中国银行、建设银 ...

Core Insights - The People's Bank of China Guizhou Branch reported that in the first half of 2025, 470 enterprises in the province conducted cross-border RMB transactions totaling over 13 billion yuan [1][3]. Group 1: Cross-Border RMB Business Overview - In the first half of the year, the total cross-border RMB payment and receipt amount reached 13.16 billion yuan, with a year-on-year increase of 12.7% [3]. - The RMB payment and receipt under current accounts and direct investment amounted to 10.19 billion yuan, accounting for 31.7% of the total foreign currency payment and receipt, an increase of 3.4 percentage points compared to 2024 [3]. - The number of enterprises engaging in cross-border RMB business increased by 31 compared to the same period last year [3]. Group 2: Policy and Institutional Support - The People's Bank of China Guizhou Branch established a cross-border RMB working group in collaboration with multiple departments to enhance information sharing and policy coordination [3]. - A set of 12 key tasks for cross-border RMB business was outlined in the "2025 Guizhou Province Cross-Border RMB Business Work Points" document [3]. - Training sessions on exchange rate risk management and cross-border RMB operations were organized for 58 state-owned enterprises [4]. Group 3: Banking Infrastructure and Services - All 25 commercial banks qualified for international settlement in the province engaged in cross-border RMB business, with 247 operational outlets across 9 cities [4]. - A total of 31.2 billion yuan in facilitation business was processed by 84 enterprises in the province [4]. - The "Cross-Border Payment Channel" initiative has been implemented, with pilot banks processing over 32 million yuan by July 30 [4]. Group 4: Trade and Investment Dynamics - Goods trade and direct investment dominated the cross-border RMB transactions, accounting for 50.8% and 16.6% of the total, respectively [5]. - Key contributors to the growth in RMB settlements for goods trade included exports of liquor and imports of bulk commodities like copper and iron ore [5]. - The number of countries and regions engaging in RMB cross-border transactions with Guizhou reached 79, an increase of 3 from the previous year [5].

Group 1 - The People's Bank of China Tianjin Branch reported that cross-border RMB payments in Tianjin reached 275.5 billion yuan in the first half of the year, marking a strong year-on-year growth of 19.3% [1] - Multiple integrated, innovative, and convenient cross-border RMB policies continue to empower the high-quality development of Tianjin's economy [1] - The Tianjin Branch facilitated a 220 million yuan overseas loan to the China-Egypt TEDA Suez Economic and Trade Cooperation Zone, effectively opening up the cross-border RMB funding channel between China and Egypt [1] Group 2 - To support the development of shipping finance, the Tianjin Branch, in collaboration with the municipal financial office, introduced special cross-border RMB incentive policies to enhance financial support for the integration of port, industry, and city [2] - The Tianjin Branch guided banks to innovate nearly 20 shipping finance products to meet diverse corporate needs [2] - As of July 31, five banks in Tianjin have launched the Free Trade Account (FT Account) system, providing more service options and financing channels for enterprises [2]

Core Insights - The financial system in Tianjin is operating steadily, with both deposits and loans showing growth, and significant expansion in social financing, supported by financial technology innovations and strong performance in cross-border RMB business [1][2][3] Group 1: Deposit and Loan Growth - As of the end of June, the total deposit balance in Tianjin reached 4.92 trillion yuan, a year-on-year increase of 7.4%, with new deposits of 179.7 billion yuan, which is 55 billion yuan more than the previous year [1] - The total loan balance in Tianjin was 4.77 trillion yuan, reflecting a year-on-year growth of 3.2%, with new loans amounting to 152.7 billion yuan [2] - The structure of loans has improved, with significant growth in loans to key industries such as accommodation and catering (66.9% increase) and information technology services (40.8% increase) [2] Group 2: Social Financing and Credit Support - The total social financing scale in Tianjin increased by 305.8 billion yuan in the first half of the year, which is 70.8 billion yuan more than the previous year [2] - Notable increases in financing include net increases in corporate bond financing (16.5 billion yuan) and local government bond financing (108 billion yuan) [2] - The "Jing-Jin-Ji Credit Chain" has been established to enhance credit information sharing, with nearly 9.23 million credit product calls made by financial institutions, supporting over 4.48 million loan recipients [3] Group 3: Cross-Border RMB Business - The cross-border RMB payment amount in Tianjin reached 275.5 billion yuan in the first half of 2025, marking a year-on-year growth of 19.3% [3] - Key breakthroughs include the issuance of 220 million yuan in cross-border loans to Egypt and the upgrade of financial infrastructure to enhance cross-border settlement efficiency [4] - The launch of the "Cross-Border Payment Pass" has enabled instant remittance services to Hong Kong, processing 1,745 transactions totaling over 8.8 million yuan since its launch [4]

Core Insights - The People's Bank of China (PBOC) Heilongjiang Branch has successfully implemented the cross-border payment system since June 22, significantly enhancing financial support for the province's "new high ground for northward opening" [1][2] - A total of 4,632 transactions have been processed under the cross-border payment system, amounting to 30.1992 million yuan, with a weekly growth rate of 8.43% [1] Summary by Sections Cross-Border Payment System Implementation - The cross-border payment system connects mainland China with Hong Kong, facilitating interbank clearing between mainland online payment systems and Hong Kong's "Faster Payment System" [1] - The Heilongjiang Branch has organized promotional activities to raise awareness and encourage participation among local banks and the public [1][2] Transaction Data - As of now, there have been 572 northbound remittance transactions totaling 2.4076 million yuan, and 4,060 southbound remittance transactions totaling 27.7916 million yuan [1] - The average weekly growth rate of transaction amounts is reported at 8.43% [1] Promotional Strategies - The PBOC Heilongjiang Branch has established a promotional working group to guide six pilot banks in promoting the cross-border payment system's advantages in convenience, security, and cost-effectiveness [1][2] - Promotion efforts include online channels like mobile banking and WeChat, as well as offline activities at bank branches to assist customers [2] Future Plans - The PBOC Heilongjiang Branch plans to develop a comprehensive business management system to support pilot banks in balancing risk and service, while exploring small-scale convenient business scenarios [2] - The goal is to enhance financial services for economic cooperation and exchanges between Heilongjiang and Hong Kong [2]

Core Insights - The Cross-Border Payment System has been operational since June 22, with smooth overall operations and stable transaction volumes primarily focused on small personal payments [1] - The system connects the Mainland's Interbank Payment System (IBPS) with Hong Kong's Faster Payment System (FPS), facilitating instant cross-border payment services for residents and institutions [1] - The number of participating banks has expanded significantly, from 6 Hong Kong banks and 6 Mainland banks to 17 Hong Kong banks and 6 Mainland banks, covering major foreign and domestic banks [1] Group 1 - The latest update from the Hong Kong Monetary Authority (HKMA) lists 13 participating Hong Kong institutions, including 6 initial banks and 7 additional banks, although some banks like ZA Bank, Dah Sing Bank, and MOX Bank were not included in the latest official list [2] - The HKMA indicated that more institutions are expected to join as they complete system development and testing, with over 10 institutions currently undergoing testing [2][3] - Digital banks in Hong Kong, such as WeLab Bank, have expressed interest in participating in the Cross-Border Payment System, highlighting its potential to enhance financial connectivity between the two regions [3] Group 2 - The Cross-Border Payment System initially operates on a pilot basis for personal payments related to essential services like tuition, medical fees, and utilities, with plans to expand to more institutions and applications as experience is gained [4] - Some participating banks are optimizing features for cross-border transactions, such as enabling Hong Kong residents to link their Mainland accounts for mobile number cross-border payments [3][4]

Core Viewpoint - The article discusses the rising popularity of stablecoins in cross-border payments and their potential to address traditional payment pain points, while also highlighting the challenges and regulatory considerations they face [1][2][3]. Group 1: Stablecoin Characteristics - Stablecoins are cryptocurrencies pegged to fiat currencies or assets, maintaining price stability through an anchoring mechanism and utilizing blockchain technology for decentralized, immutable, and traceable transactions [1]. - The market primarily focuses on the token characteristics of stablecoins, while the process of tokenization, which links the value of underlying assets to the crypto tokens, is equally important [2]. - Different types of stablecoins exist based on their underlying reserves, including those pegged to fiat currencies, commodities, crypto assets, and algorithmic models [2]. Group 2: Regulatory and Technical Challenges - The recent U.S. legislation requires stablecoins to be integrated into anti-money laundering frameworks, emphasizing the need for audits and regulatory compliance [3]. - Stablecoins pose challenges to traditional financial systems, particularly in foreign exchange management, and their primary use in crypto asset trading has limited relevance to real-world transactions [3]. - The integration of on-chain and off-chain transaction rules remains a significant technical hurdle for stablecoins [3]. Group 3: Market Adoption and Alternatives - Non-financial enterprises are increasingly interested in stablecoins as a means to drive financial innovation, particularly in areas like third-party payments and small cross-border remittances [3]. - Traditional financial institutions are also showing interest in adopting stablecoins for cross-border payment scenarios, indicating a shift towards embracing new technologies [3]. - Alternative solutions, such as the "Cross-Border Payment Link" between mainland China and Hong Kong, demonstrate that improved cross-border payment experiences can be achieved without relying on blockchain or stablecoins [4].