近日，国家金融监督管理总局正式批复同意西班牙桑坦德银行在深圳筹建分行，这意味着深圳即将迎来 又一家欧资银行，外资金融机构在深"朋友圈"持续扩容。 作为西班牙最大的商业银行，桑坦德银行自1857年成立以来，已发展成为全球系统重要性银行之一，业 务版图横跨欧洲、拉丁美洲、美国及亚太地区，核心市场覆盖西班牙、葡萄牙、英国、美国、墨西哥等 多个国家。截至2024年末，其总资产达1.8万亿欧元，全年总收入618.76亿欧元，净利润137.44亿欧元。 值得关注的是，此次在深设分行，是桑坦德银行继2008年上海分行、2014年北京分行后，时隔十年再次 布局中国。 西班牙桑坦德银行落子深圳，外资加码共享发展红利 桑坦德银行与中国的渊源可追溯至2008年上海分行的设立，2014年北京分行开业后，该行在华业务逐步 覆盖企业银行、环球市场及财富管理等领域。此次时隔十年，桑坦德银行再次在华设分行，恰逢中国金 融开放关键期。自2018年以来，金融管理部门先后出台50余项对外开放措施，从取消银行、证券、基金 管理等领域外资持股比例限制，到在企业征信、评级、支付等领域给予外资机构国民待遇，再到放宽资 产规模、经营年限等股东资质要求，一系 ...

Group 1 - Santander Bank has received approval to establish a branch in Shenzhen, marking the establishment of a new European-funded bank in the region [1] - Santander Bank, founded in 1857, is the largest commercial bank in Spain and a globally significant bank, with total assets of €1.8 trillion and a net profit of €13.744 billion as of the end of 2024 [1] - The establishment of the new branch signals foreign investors' confidence in the Chinese economy and the Guangdong-Hong Kong-Macao Greater Bay Area market [1] Group 2 - China has been actively expanding high-level financial openness, implementing over 50 measures since 2018 to attract foreign investment and improve the business environment [2] - Recent policies have removed foreign ownership limits in various financial sectors, allowing foreign institutions to enjoy national treatment and expand their business scope [2] Group 3 - Shenzhen is a key destination for foreign financial institutions, with over 35 foreign banks operating in the city, holding total assets exceeding 400 billion yuan [3][7] - The presence of foreign banks in Shenzhen has significantly contributed to the development of the local financial industry, enhancing management practices and technological innovation [7][10] Group 4 - Foreign banks in Shenzhen have been actively involved in cross-border financing and settlement, with nine banks participating in the "Cross-Border Wealth Management Connect" pilot program [8] - These banks have facilitated cross-border investment channels and improved efficiency in corporate account opening and credit approval processes [8][9] Group 5 - Foreign banks are supporting Chinese enterprises in their global expansion by providing a range of financial services, including credit, bond issuance, and risk management [9] - They are also assisting in building supply chains and connecting with local governments and service providers in foreign markets [9] Group 6 - Foreign banks are playing a significant role in promoting green finance in Shenzhen, participating in various sustainable finance initiatives and projects [10] - They are collaborating with local governments to issue offshore RMB bonds, including green bonds and social responsibility bonds, to support urban development and sustainability [10]

Core Viewpoint - The approval for Banco Santander to establish a branch in Shenzhen signals foreign investors' confidence in the Chinese economy and the Guangdong-Hong Kong-Macao Greater Bay Area market [1] Group 1: Banco Santander's Expansion - Banco Santander, established in 1857, is Spain's largest commercial bank and a globally significant bank, with total assets reaching €1.8 trillion and net profit of €13.744 billion by the end of 2024 [1] - The bank has been actively expanding in China, having previously established branches in Shanghai and Beijing in 2008 and 2014, respectively [1] Group 2: Foreign Investment in China's Financial Sector - Since 2018, over 50 measures have been introduced to enhance foreign investment in China's financial sector, including the removal of foreign ownership limits in various financial services [2] - The recent notification from the financial regulatory authority further expands the business scope for foreign banks, encouraging more foreign institutions to invest in China [2] Group 3: Foreign Banks in Shenzhen - Shenzhen is a key destination for foreign financial institutions, with 35 foreign banks operating 5 legal entities and 33 branches, totaling over ¥400 billion in assets by the end of 2024 [8] - The presence of foreign banks has significantly contributed to the advancement of Shenzhen's financial industry, enhancing management practices and technological innovation [8] Group 4: Cross-Border Financial Services - Nine foreign banks in Shenzhen are participating in the "Cross-Border Wealth Management Connect" pilot program, facilitating cross-border investment for residents in the Greater Bay Area [9] - These banks are also involved in cross-border data verification and credit information sharing, improving efficiency in corporate financing processes [9] Group 5: Support for Chinese Enterprises Going Global - Foreign banks leverage their global resources to provide comprehensive financial services for Chinese enterprises expanding overseas, including credit, bond issuance, and risk management [11] - Collaborations between foreign banks and Chinese companies are evident in various international markets, such as Southeast Asia [11] Group 6: Green Finance Initiatives - Foreign banks in Shenzhen are actively participating in the green finance sector, supporting low-carbon transitions and sustainable development projects [13] - Initiatives include issuing offshore RMB bonds and facilitating ESG-linked loans, showcasing the banks' commitment to environmental sustainability [13]

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has launched the Integrated Fund Platform (IFP) order transmission service, enhancing the efficiency of fund distribution and providing a broader range of investment options for investors [1][3]. Group 1: Platform Overview - The IFP includes 33 companies, with 17 fund distributors, including 12 Chinese brokers, and aims to streamline the fund distribution process [1][4]. - The platform is designed to cover the entire distribution cycle of retail funds in Hong Kong, lowering entry barriers for the fund industry and improving market efficiency [3][7]. - The new order transmission service integrates subscription and redemption processes, facilitating smoother operations between fund distributors and registered agents [3][9]. Group 2: Participating Institutions - The 12 Chinese brokers participating in the IFP include notable firms such as China Galaxy International and CITIC Securities, all of which have cross-border wealth management qualifications [2][8]. - Other distributors include major banks like Bank of China (Hong Kong) and China Construction Bank (Asia), indicating a diverse range of institutions involved [4][6]. - The platform also includes six registered agents, enhancing the operational framework of the fund distribution network [5]. Group 3: Impact on Wealth Management - The launch of the IFP is expected to significantly benefit wealth management businesses, particularly for brokers qualified for cross-border wealth management [10][11]. - As of May 2025, the cross-border wealth management program has seen participation from 157,900 investors, indicating a growing market for these services [10]. - Brokers have expressed optimism about the platform's potential to enhance service capabilities and expand the range of fund products available to clients [11]. Group 4: Future Developments - Future phases of the IFP will include agent services and improvements in payment and settlement processes, with ongoing collaboration between HKEX, regulators, and industry stakeholders [12].

"2025年以来，在AI、机器人等科技浪潮带动下，中国资产迎来价值重估，港股关注度显著提升。"中金 公司管理委员会成员王曙光对《证券日报》记者表示，多项积极因素为优质大型IPO项目的推出提供了 窗口。蜜雪冰城、宁德时代、恒瑞医药等优质企业赴港上市，其优异的后市表现进一步提振港股IPO市 场情绪。 "小河弯弯向南流，流到香江去看一看"——这首传唱不息的旋律，其蕴含的意象恰与当下中国香港资本 市场所呈现的蓬勃发展态势形成呼应。2025年中国香港资本市场热潮涌动，中资券商作为核心参与者之 一，正积极发挥中介力量，大步迈向舞台中央。 记者注意到，在政策红利、战略深耕、技术创新等因素驱动下，中资券商逐步打破过往由国际投行主导 的市场格局，不断扩展业务版图，业务触角从IPO保荐延伸至虚拟资产交易，从传统投行业务迈向科技 金融前沿阵地，实现了从传统业务到多元领域的跨越式发展，一步一个脚印地推动香港成为"全球资本 配置中国资产的核心枢纽"，吸引国际资本加速布局。 重构港股IPO市场承销格局 港股市场凭借其成熟的资本市场环境、灵活的上市制度以及国际化的投资者群体，成为企业融资和全球 化布局的重要选择。 Wind资讯数据显示，上 ...

为推进粤港澳金融市场互联互通，《意见》明确将探索适宜粤港澳大湾区建设发展的资金结算政策。支 持在广州期货交易所推出与香港交易所跨境合作品种，积极探索期货品种国际合作新模式。支持南沙开 展跨境股权投资便利化试点，简化申办流程。 为开展跨境金融创新与交流，《意见》明确将扩大金融业对外开放，推进跨境人民币业务创新，探索金 融领域制度型开放。 《意见》提出，支持在南沙建设区块链、人工智能等关键数字技术与金融场景融合应用的数据算力中 心、研发认证中心、测评中心以及监管平台等机构。鼓励金融机构加大海洋产业，商业航天、全域无人 产业的支持力度。支持金融机构吸纳港澳居民就业、实习。 为加强社会民生领域金融服务，《意见》明确将推动跨境支付服务便利化、跨境信用融资便利化和国际 专业人士执业便利化。有序扩大港澳居民代理见证开户试点银行范围。支持银行与非银行支付机构、清 算机构合作依法合规开展跨境支付业务。稳步推动数字人民币创新应用，鼓励金融机构参与多边央行数 字货币桥建设。 为发展特色金融服务，《意见》明确将加快建设粤港澳大湾区（广州南沙）跨境资管中心。支持符合条 件的优质证券公司通过新设或并购等方式取得公募基金资质。大力发展公募 ...

近日，2025陆家嘴论坛开幕前，一场发布会先在会场举行，发布沪港合作的重磅消息：上海和香港签署 《沪港国际金融中心协同发展行动方案》（以下简称《行动方案》）。中国两大国际金融中心，又一次 加紧了合作的脚步。 "《行动方案》的签署，进一步明确了沪港合作的方向。为两地多层次、多领域的金融合作注入了新 的、更丰富的内容。"香港特区政府财政司司长陈茂波出席《行动方案》发布仪式时说。 合作共赢 内地与香港金融市场的互联互通，自2014年沪港通启动揭开序幕。此后，沪港金融合作不断交出双赢成 绩单。中国金融学会副会长方星海在论坛上说，如果没有沪港通、深港通的推出，外资持有A股流通市 值就不可能达到现在的3万亿元。 "债券通""跨境理财通"等新机制，让沪港联动日益紧密。香港特区政府财经事务及库务局局长许正宇举 了个最新的例子——近期香港特区政府发行20年期、30年期的人民币债券，其中相当一部分债券买家 是"南向通"的机构投资者，债券总需求规模跟最初的售卖规模相比，增加了3到4倍。 张为忠说，沪港因优势互补而拥有坚实合作基础。沪港通启动以来，沪港两地共同处理全球跨境人民币 结算的占比达到了78%。通过上海和香港的监管标准互认， ...

在盈利与客户满意度平衡成核心挑战。 净息差持续收窄正倒逼银行将增收重心转向中间业务。近期，从中小银行到国有大行，多家机构密集发 布公告，新增或调整了涵盖资信证明、银行卡年费、ATM跨行取现、跨境理财通等领域的服务收费项 目，引起市场关注。 业内人士分析指出， 银行此举核心目的是应对净息差压力，扩大中间业务收入。短期看，银行面临的 关键挑战是如何确保收费合规并平衡客户利益。而长期可持续之道，则在于深化综合金融服务与产品创 新，构建多元化、更具韧性的盈利模式，而非依赖单纯的收费扩张。 银行花式增收服务费 近日，乌泽银行发布了一则资信业务收费公告。该行官微显示，自6月13日起，对个人存款证明收取20 元/份，单位证明资信证明收取200元/份。 无独有偶，苏州银行在官网公告称，9月10日起对白金卡收取588元年费；庐江银行公告称，9月1日起， 借记卡（除社保卡外）在异地或同城进行ATM跨行取现时，将被收取每笔3.3元的手续费。 不止中小银行近期有所动作，国有大行和股份制银行也纷纷加入其中，调整服务收费政策。 多家银行回应记者称，此番新增或调整服务收费，主要是为了提升服务质量、加强风险管理和覆盖运营 成本。"收取合理费 ...

笔者认为，中资券商在巩固和提升香港国际金融中心地位的过程中，扮演着多维度角色，发挥着不可替代的关键作用。 首先，中资券商成为港股IPO市场的重要力量，推动港股募资规模跃居全球前列。 ■李文 当前，在复杂的国际环境下，香港国际金融中心表现亮眼，"魅力值"逆势攀升。从港股一级市场的关键指标来看，截至 2025年6月23日，年内港交所完成35宗首次公开募股（IPO）项目，募资总额近1000亿港元，在全球资本市场中跃居首位。同 时，港股市场IPO排队企业超160家，仅5月份就有40多家企业递表。 其次，中资券商促进跨境资本流动，深化内地与香港资本市场互联互通。 中资券商作为连接内地与香港资本市场的重要桥梁与纽带，近年来通过机制创新、产品拓展和国际化布局等举措，显著促 进了跨境资本的自由流动。数据显示，2024年，中资券商服务港股通交易金额11.2万亿港元，同比增长64.9%，持续为境内外 投资者提供高效优质的服务；自"跨境理财通"2.0实施以来，中资券商积极响应，统筹做好系统开发、产品筛选等各项工作，以 满足不同风险偏好投资者对全球财富的配置需求。通过不断优化服务流程、丰富产品种类，中资券商为投资者提供了更加便 捷、 ...

陈茂波分析称，这个信心基于多个因素。第一，流入香港的资金量会持续增加，这包括粤港澳大湾区跨境理财通 的资金，预期会有更多大湾区的朋友会在香港市场配置资产。跨境理财通的内容持续丰富，未来可以进一步扩大 相关产品的范围，以及投资者跨境配置的额度等。 陈茂波透露，会联同金融监管机构和业界，推动更多投资产品的创新，例如交易所买卖产品（ETP）。这是一个 发展蓬勃的市场。目前，在港交所上市的ETP超过210只，它们的种类非常多元化，包括投资不同地域的证券、衍 生产品，以至数字资产等，占大市成交超过15%。 香港特区政府财政司司长陈茂波致辞。（图/香港特区政府新闻处） "财富管理博览2025"活动近日在香港举办，来自多个领域的政商界人士，以"驱动经济新引擎 盛事引领新趋势"， 探讨国际环境、人民币国际化、盛事经济等市场趋势。 "财富管理博览2025"近日在香港举办。（图/主办方提供） 香港特区政府财政司司长陈茂波出席活动致辞时表示，在全球经济不确定性增加、单边主义和保护主义加剧、国 际经济体系面临更大割裂风险之际，香港继续维持自由港的地位、金融制度稳健、资金自由进出、政府政策可预 期等，都让国际投资者感到安心、有信心，香 ...