Group 1 - The event was organized to promote the training and support policies for e-commerce talent in response to provincial and municipal directives [2] - Over ten vocational colleges and more than twenty key e-commerce companies participated, along with representatives from financial institutions, indicating strong industry collaboration [2] - The meeting focused on popular areas such as live e-commerce, instant retail, and cross-border e-commerce, highlighting ongoing training activities and future plans [4] Group 2 - The city’s human resources department provided detailed explanations of employment skills training, youth employment internships, and skill level evaluation policies [4] - Representatives from e-commerce companies shared insights on talent training in live e-commerce and the latest developments in cross-border operations, along with their recruitment needs [4] - Future plans include collaboration among various departments to implement the "Star Plan" for live e-commerce and the "All-Level Talent Cultivation Plan" for companies going abroad, aiming to develop a skilled workforce in the e-commerce sector [4]

Core Insights - The report focuses on fixed income + products issued by wealth management companies, highlighting superior performing products available for investors through distribution channels [1] - A ranking of products is provided based on their annualized performance over the last month, three months, and six months, with a particular emphasis on the three-month annualized yield to reflect their performance amid recent market fluctuations [1] Distribution Channels - The report includes a list of 28 distribution institutions, which consist of major banks such as Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, and others [1] Product Performance - The ranking showcases various products with their respective annualized yields, indicating the performance metrics over different time frames, such as 2.64% for one month and 9.11% for three months for a specific product [5] - The data is sourced from the South Finance Financial Terminal, with statistics as of February 5, 2026, providing a snapshot of the current market offerings [5][10]

Core Insights - The article focuses on the performance of minimum holding period RMB public offering products, ranking them based on annualized returns for holding periods of 7, 14, 30, and 60 days [1] Group 1: 7-Day Holding Period Products - The top-performing product is from Minsheng Bank with an annualized return of 7.56% [5] - Other notable products include a 6.98% return from Shanghai Bank and a 6.04% return from Minsheng Bank [5] Group 2: 14-Day Holding Period Products - The leading product is from Minsheng Bank with a return of 7.39% [8] - China Bank follows with a return of 4.44% [8] Group 3: 30-Day Holding Period Products - The highest return is 18.14% from Hangzhou Bank [12] - Other significant returns include 12.34% from Minsheng Bank and 9.72% from Minsheng Bank [12][13] Group 4: 60-Day Holding Period Products - The top product is from China Bank with a return of 9.33% [15] - Other products include 5.95% from Shanghai Bank and 5.54% from Huaxia Bank [15][16]

Investment Rating - The industry rating is "Buy" [4] Core Views - The trade return ratio has turned positive again, and the service trade deficit has significantly narrowed [16][18] - The cross-border capital flow is expected to gradually return, positively impacting domestic liquidity [5][19] - The service trade deficit for December 2025 was 966 billion CNY, a year-on-year decrease of 466 billion CNY, with a full-year deficit of 13,760 billion CNY, down 2,544 billion CNY, approximately 16% [18] Summary by Sections 1. Current Observation - The State Administration of Foreign Exchange (SAFE) released data on China's international balance of payments for December 2025, indicating a potential impact on the central bank's willingness to settle foreign exchange [16] - The trade return ratio is at a historical high, with a monthly unconverted trade net outflow of 447 billion CNY, a year-on-year increase of 1,392 billion CNY [17] 2. Arbitrage Trading Returns - The arbitrage trading return rate for 10Y US Treasury bonds in CNY has dropped significantly to -1.77%, indicating a shift in cross-border capital dynamics [17] 3. Service Trade Deficit - The service trade deficit has narrowed significantly, with major contributions from improved policies for foreign visitors, reduced international shipping costs, and enhanced competitiveness in high-tech services [18] 4. Cross-Border Liquidity Outlook - Despite the recent appointment of Kevin Warsh as the next Federal Reserve Chair, the trend of cross-border capital return is expected to continue, influenced by the Fed's monetary policy stance [19][21] - The short-term liquidity in the US remains tight, with limited space for balance sheet reduction, while long-term prospects depend on economic performance [20][21]

Investment Rating - The industry investment rating is maintained at "Overweight" [2] Core Insights - The report anticipates new RMB loans in January to be between 5.1 to 5.25 trillion yuan, with a corresponding loan growth rate declining to approximately 6.3% [4][6] - The expected new social financing scale for January is projected to be between 7.41 to 7.57 trillion yuan, maintaining a stock growth rate of around 8.3% [21][25] - The report highlights a strong performance in corporate activities, with expectations for increased credit supply due to a favorable lending environment and government policies [8][28] Summary by Sections 1. RMB Loans - New RMB loans are expected to be between 5.1 to 5.25 trillion yuan, with a growth rate declining to around 6.3% [4][6] - The monthly increase is projected to vary between a decrease of 300 million to an increase of 1.2 billion yuan [8] 2. Social Financing - The anticipated new social financing scale for January is between 7.41 to 7.57 trillion yuan, with a stock growth rate around 8.3% [21][25] - The report notes that the net financing scale of local government bonds and corporate credit bonds is expected to be 1.181 trillion yuan and 490.3 billion yuan respectively [25] 3. Liquidity - M1 and M2 growth rates are expected to rise due to a low base effect, with M1 projected at 4.0% and M2 at 8.7% [26] - The report indicates that the increase in government and credit bonds' net financing will impact market liquidity [26] 4. Investment Recommendations - The report suggests a shift in bank stock investment logic from "pro-cyclical" to "weak-cyclical," emphasizing the attractiveness of high-dividend bank stocks during economic stagnation [28] - Two main investment lines are recommended: regional banks with strong certainty and large banks with high dividends [28]

Core Viewpoint - Jiangsu Bank, as a systemically important bank in China, is undergoing significant strategic evolution to adapt to the changing banking landscape, focusing on high-quality development while maintaining its scale advantage [2][4][49]. Group 1: Background and Purpose - Jiangsu Bank is the largest legal person bank in Jiangsu Province and plays a crucial role in the development of urban commercial banks and the Chinese banking industry [2]. - The research aims to analyze Jiangsu Bank's strategic evolution since its establishment in 2007, focusing on its current strategic layout and future development direction [2]. Group 2: Strategic Evolution Process - **Foundation and Scale Breakthrough Period (2007-2015)**: Jiangsu Bank was established through the merger of ten urban commercial banks, focusing on resource integration and local market penetration, achieving total assets of over 1 trillion yuan by 2014 [3]. - **Structural Optimization and Innovation Breakthrough Period (2016-2020)**: The bank went public in 2016, shifting its focus from scale expansion to quality and efficiency, establishing a "four modernization" development vision [4][5]. - **High-Quality Development and Strategic Deepening Period (2021-Present)**: Jiangsu Bank has set five strategic goals for high-quality development, emphasizing value creation, customer service, and political integrity [6][7]. Group 3: Current Strategic Statements - **Top-Level Strategic Positioning**: Jiangsu Bank's mission is to enhance people's quality of life through innovative financial services, with a vision of becoming a leading bank characterized by intelligence, specialization, internationalization, and comprehensiveness [8]. - **Five Strategic Goals**: The bank aims to be the most valuable bank, a service leader, an intelligent innovator, an employee-satisfied bank, and a politically robust bank, with each goal supporting the others [9][10]. Group 4: Business Development Strategies - **Corporate Business**: Jiangsu Bank focuses on strengthening corporate business, particularly in manufacturing and infrastructure, achieving a corporate deposit balance of 14,197 billion yuan, a 22.20% increase year-on-year [11]. - **Retail Business**: The bank aims to expand its retail business, with retail AUM exceeding 1.59 trillion yuan, marking a historic high [12]. - **Financial Market Business**: Jiangsu Bank is enhancing its financial market capabilities, with financial investment assets reaching 18,833 billion yuan, a 23.38% increase [13]. - **Digital Financial Development**: The bank is accelerating its digital transformation, with significant advancements in AI applications and digital financial services [14]. - **Regional Layout**: Jiangsu Bank maintains a strong presence in Jiangsu and extends its services to major economic regions [15][16]. - **ESG Strategy**: The bank integrates ESG principles into its operations, actively participating in sustainable finance initiatives [17]. Group 5: Comparative Analysis - **Comparison with Similar Banks**: Jiangsu Bank's asset scale is 3.95 trillion yuan, ranking it among the top urban commercial banks, with a focus on balanced development across various financial sectors [29][30]. - **Strengths and Weaknesses**: Jiangsu Bank has notable advantages in asset quality and regional presence but faces challenges in retail business proportion and internationalization [37][41][42]. Group 6: Future Strategic Directions - **"15th Five-Year" Planning**: Jiangsu Bank is preparing for its next strategic phase, focusing on clearer positioning and practical development goals, with expected revenue growth rates of 6.9% to 7.6% from 2025 to 2027 [44][45]. - **Key Development Areas**: The bank aims to enhance its technology finance services, green finance initiatives, and wealth management capabilities, with projected growth in these areas [46].

金融作为现代经济的血脉，正通过创新模式深度嵌入体育赛事发展进程，将赛场内外的澎湃激情，转化 为实实在在的消费动能与经济增量。 从传统的冠名赞助到多元的场景共建，从支付方式的迭代创新到产业生态的协同联动，金融机构的角色 已实现转变，从单纯的资金提供者，升级为体育消费生态的构建者和价值放大者。 业内人士指出，金融与体育消费的深度融合，不仅需要政策引导和金融机构的积极布局，更需要找准二 者的结合点。 金融护航赛事IP 撬动区域消费升级 随着居民消费升级和全民健身理念深入人心，体育赛事已从单纯的竞技活动，转变为带动文旅、商贸、 餐饮等多领域消费的"超级IP"。 转自：中国经营报 中经记者 张漫游 北京报道 日前，国务院办公厅印发《加快培育服务消费新增长点工作方案》并对外发布，提出12条政策举措。其 中提到"培育潜力领域发展动能，要做好体育赛事服务"。 如在2025年召开的第十五届全国运动会期间，多家银行提供了支付便利，为促消费打好基础。工商银行 （601398.SH）广东省分行在官方指定接待酒店、特许零售商店、比赛场馆周边及旅游消费旺区，密集 布放支持外卡取现的ATM、外币兑换机、商户POS机等，为参赛人员、观众、市 ...

平安银行 公告称，"26国耀融汇MTN003"在申购结束前一小时内出现投资人撤标情况， 江苏银行 撤标 规模2000万元，申购价位2.33%，撤标时间17:55:18。 ...

在今年省政府工作报告中，有两组数据放在一起，备受关注。"地区生产总值连续迈上4个万亿元台阶、 达14.2万亿元、年均增长5.7%。""新增本外币贷款连续4年保持全国首位，科创板、北交所上市公司数 量居全国第一。" □ 本报记者 赵伟莉 陈娴 崔昊 服务实体经济，是金融的天职和宗旨。江苏紧扣"支撑服务能力强、改革创新活力强、产业发展实力 强、金融生态环境优"目标加快建设金融强省，把更多金融"活水"精准引向实体经济，实现金融与产业 发展同频共振，为高质量发展持续注入强劲金融动能。 强服务，量足质优促发展 优生态，夯实营商环境根基 壮产业，构筑金融集聚高地 建设现代化产业体系，需要现代金融体系做支撑。近年来，江苏加快建设省域现代金融体系。2025年， 设立省国金集团，优化国有金融资本管理体制；组建江苏农商联合银行，高效完成农信社改革；设立华 东地区首家省级信用增进公司，构造支持民企、科创企业发债政策重要拼图…… 目前，省属金融企业均跻身国内同类机构"第一方阵"，全省地方法人金融企业总资产超过15万亿元、较 2018年末翻一番。其中，作为全国系统重要性银行、省属法人银行，江苏银行（600919）总资产规模近 4.8万 ...

Core Viewpoint - Jiangsu Bank plays a crucial role in supporting the economic development of Jiangsu province, aiming to enhance financial services and support the real economy during the "14th Five-Year Plan" period and beyond [1][2]. Group 1: Financial Performance and Goals - As of September 2025, Jiangsu Bank's total assets are projected to reach 4.93 trillion yuan, doubling from five years ago, with corporate loan balances exceeding 1.6 trillion yuan [1]. - The bank emphasizes a dual approach of "steady operation and building defenses" alongside "reform and innovation" to strengthen its position while serving the provincial development agenda [1]. Group 2: Strategic Focus Areas - Jiangsu Bank plans to enhance support for key areas such as technology innovation, green development, and the "two new" and "two heavy" sectors, aligning with national strategies and provincial directives [2]. - The bank aims to improve its financial supply in critical sectors and weak links, focusing on five major financial initiatives to empower the real economy [2]. Group 3: Financial Services Development - In the technology finance sector, Jiangsu Bank intends to develop a comprehensive "Sci-Tech Financing" matrix to support businesses from inception to growth [2]. - The bank aims to establish a leading green finance brand in China, contributing to the green transformation of the economy and society [2]. - Jiangsu Bank is committed to expanding its micro and small enterprise services and enhancing the accessibility of financing in the inclusive finance sector [2]. - In the pension finance area, the bank plans to enrich product offerings related to pensions, the pension industry, and services for the elderly [2]. - The bank will leverage digital finance to enhance the precision, efficiency, and reliability of its services [2]. Group 4: Commitment to Regional Development - Jiangsu Bank expresses a strong commitment to serving Jiangsu province and contributing to the construction of a modernized and prosperous society [3].