CATL(SZ:300750) Shang Hai Zheng Quan Bao·2025-10-20 00:09Core Viewpoint - The concept of "green finance" has become a crucial focus for supporting the real economy in China, aligning with the "Two Mountains" theory and "dual carbon" goals, marking a significant shift towards high-quality green development during the 14th Five-Year Plan period [2][5]. Group 1: Green Industry Development - During the 14th Five-Year Plan, China's green industry has achieved significant advancements, leading globally in various sectors, including renewable energy and electric vehicles [3]. - By 2024, China has established the world's largest and most complete new energy industrial chain, providing 80% of global photovoltaic components, 70% of wind power equipment, and 60% of power batteries [3]. - As of the first quarter of this year, China's wind and solar power generation capacity has added 74.33 million kilowatts, surpassing a cumulative capacity of 1.482 billion kilowatts, historically exceeding that of thermal power [3]. Group 2: Environmental Improvements - Since the beginning of the 14th Five-Year Plan, the proportion of days with good air quality in cities has stabilized at around 87%, and forest coverage is expected to exceed 25% by 2024, contributing to about one-fourth of the world's new greening area [4]. - China's energy consumption per unit of GDP has decreased by 11.6% compared to the end of the 13th Five-Year Plan, making it one of the fastest countries in terms of energy intensity reduction globally [4]. Group 3: Green Finance Growth - Over 100 projects have received financial support since the 14th Five-Year Plan, with a total credit amount of 216.4 billion yuan and loans issued amounting to 76.4 billion yuan [5]. - By the second quarter of 2025, the balance of green loans in China is expected to reach approximately 42.4 trillion yuan, while the balance of green bonds will exceed 2.2 trillion yuan [6]. - The national carbon emissions trading market has seen a cumulative transaction volume of 696 million tons and a total transaction value of 47.826 billion yuan as of August 2025 [6]. Group 4: Innovative Financial Models - A new financing model linking loan interest rates to companies' greenhouse gas emissions intensity has been introduced, transforming ESG investments into strategic returns [9]. - Banks are actively creating zero-carbon bank branches and supporting various climate investment projects, contributing to the development of a green financial ecosystem [10]. Group 5: Future Outlook - The integration of green finance with technology finance is essential for supporting green and low-carbon technology enterprises, providing diverse financial products and services [12]. - The collaboration between industry and finance is expected to continue, focusing on innovation and green development to create a "Beautiful China" [13].