七部门：加快推动绿醇、绿氨、绿氢等新能源船舶推广应用

Investment Rating - The report does not provide a specific investment rating for the industry [2] Core Insights - The report highlights the acceleration of the promotion and application of green alcohol, green ammonia, and green hydrogen in new energy vessels, as outlined in the "Beautiful Rivers and Lakes Protection and Construction Action Plan (2025-2027)" released by seven government departments [11][12] - The report emphasizes the importance of maintaining clean and tidy water bodies and shorelines, with a focus on enhancing the collection and transfer of wastewater and garbage at ports, docks, and along rivers and lakes [11] Summary by Sections Domestic Highlights - The report discusses the joint release of an action plan by seven departments aimed at promoting new energy vessels, specifically green alcohol, green ammonia, and green hydrogen [11] ESG Financial Products Tracking - As of May 24, 2025, a total of 3,531 ESG bonds have been issued in China, with a total outstanding amount of 5.62 trillion RMB, where green bonds account for the largest share at 58.77% [28] - In the past month, 48 ESG bonds were issued, amounting to 39.9 billion RMB, and in the past year, 931 ESG bonds were issued with a total amount of 1,054.3 billion RMB [28] - The report notes that there are currently 669 ESG products in the market, with a total net asset value of 824.23 billion RMB, where ESG strategy products represent the largest share at 46.65% [33] - The report also mentions that there are 790 ESG products in the banking wealth management sector, with pure ESG products making up the largest share at 61.77% [38] Index Tracking - As of May 24, 2025, major ESG indices have outperformed the market, with the 300ESG leading with a slight increase of 0.02%, while the Wind All A Sustainable ESG index saw a decrease of 0.35% [39] - Over the past year, all major ESG indices have shown growth, with the 300ESG leading at an increase of 9.38% [39] Expert Opinions - Xu Sujiang, head of the research department at the China Foreign Exchange Trading Center, emphasizes the importance of the CGT (China-Europe Common Classification Directory) as a bridge connecting domestic and international green finance markets, suggesting a focus on improving the CGT standard system and enhancing the liquidity of CGT bonds [41] - Ouyang Liliang, Chief Investment Officer at AIA, discusses the integration of international standards with China's green finance goals, advocating for a dual-bottom-line investment approach that balances financial returns with emission reduction targets [41]