Bank of China has launched the nation’s first computing power “Token Loan,” marking the entry of computing power finance into the application-layer enterprise sector, with upstream and downstream integration emerging as the future direction.

1. The primary target clients are small and medium-sized enterprises (SMEs). Compute finance has expanded from hardware-based compute loans to credit products tailored for AI application-oriented enterprises. 2. As local governments introduce policy incentives for AI application scenarios, innovative enterprises are experiencing increased demand for working capital. 3. The core of compute loans remains the authenticity and accessibility of data. Industry stakeholders are calling for unified, auditable standards and platforms for tokenized data evidence.

cls.cnAug 14 20:19

Major Banks Bolster Capital While Small and Medium-Sized Banks Sit Out: Issuance of Tier 2 Capital and Perpetual Bonds Surpasses RMB 1.3 Trillion Year-to-Date

As of August 11, commercial banks had issued over RMB 1.3 trillion in tier-2 capital bonds and perpetual bonds (hereinafter referred to as "tier-2 and perpetual bonds") this year. Of this amount, issuance of tier-2 capital bonds exceeded RMB 730 billion, while perpetual bond issuance surpassed RMB 580 billion. The six major state-owned banks collectively issued RMB 825 billion, accounting for more than 60% of the total market issuance. This surge is not merely a result of proactive financing in a low-interest-rate environment; rather, it is driven by several concurrent forces: narrowing net interest margins are eroding retained earnings, maturing debt is creating refinancing pressure, and Global Systemically Important Banks (G-SIBs) are facing deadlines to meet Total Loss-Absorbing Capacity (TLAC) requirements, all prompting banks to urgently replenish capital.

wallstreetcnAug 13 20:32

Master Kong reported a modest 1.1% year-on-year revenue increase in the first half, with profit margins boosted by product mix optimization.

Against the backdrop of low revenue growth, Master Kong is increasingly relying on product portfolio adjustments to bolster profitability. On August 11, Master Kong Holdings released its results for the period ended 2026...

wallstreetcnAug 11 21:05

In the era of high oil prices, who is reaping profits against the trend? A deep dive into the cost competitiveness of coal-to-olefins | Jinshi Futures Heatmap

The higher the oil price, the greater the competitive advantage of coal-based chemicals. It is not that coal is outdated; rather, modern coal chemical technology has matured through years of development. See the chart for a detailed breakdown of the cost competitiveness of coal-to-olefins.

Golden10 DataAug 11 19:31

The '15th Five-Year Plan for Coal Industry Development' has been issued.

Cailian Press, August 10 — The National Development and Reform Commission and the National Energy Administration have issued the "15th Five-Year Plan for Coal Industry Development." It states that by 2030, coal will further strengthen its role as a foundational guarantee for energy security, with continued optimization of production and development layouts, a higher share of high-quality and advanced capacity, and a more robust nationwide production-supply-storage-sales system. The share of capacity from large-scale modern coal mines nationwide will rise to 87%. Safety, green development, and clean, efficient utilization will significantly improve, and intelligent transformation across the entire system will be further advanced, raising the share of intelligent coal mine capacity to 75%. A diversified coal-based industrial structure will take shape at an accelerated pace, coal consumption will peak, and dynamic balance between supply and demand will be achieved.

cls.cnAug 10 16:09

Following the four major state-owned banks, local small and medium-sized banks have rolled out new large-denomination certificates of deposit in July, with terms up to three years and annualized yields as high as 1.9%.

① Since Bank of China became the first to launch new large-denomination certificates of deposit (CDs) on July 1, nearly 20 local small and medium-sized banks have successively issued announcements introducing new large-denomination CDs—a number far exceeding that of June. ② Currently, the maximum maturity of large-denomination CD products offered by all local banks does not exceed three years, with short-term products remaining dominant. ③ Local banks’ recent continued issuance of large-denomination CDs may well be a reactive move, possibly spurred by the recent launches from the four major state-owned banks.

cls.cnAug 5 09:59