绿色债券周度数据跟踪-20251213

Group 1: Investment Rating - No investment rating for the industry is provided in the report Group 2: Core Viewpoints - The primary market saw 29 new green bonds issued in the inter - bank and exchange markets from December 8 - 12, 2025, with a total issuance scale of about 36.752 billion yuan, an increase of 16.015 billion yuan from the previous week [1] - The secondary market's weekly green - bond trading volume totaled 64.4 billion yuan, a decrease of 1.7 billion yuan from the previous week [2] - This week, the overall deviation amplitude of the weekly average trading price valuation of green bonds was not large, with the discount trading amplitude greater than the premium trading, and the discount trading ratio less than the premium trading [3] Group 3: Summary by Directory Primary Market Issuance - Number and Scale: 29 new green bonds were issued, with a total scale of about 36.752 billion yuan, up 16.015 billion yuan week - on - week [1] - Issuance Term: Most issuance terms were 3 years [1] - Issuer Nature: Included central state - owned enterprises, central enterprise subsidiaries, local state - owned enterprises, large private enterprises, other state - owned enterprises, Sino - foreign joint - ventures, small and medium - sized private enterprises, central financial enterprises, and other enterprises [1] - Subject Rating: Mostly AAA and AA + grades [1] - Issuer Region: Jiangsu, Hubei, Guangdong, Beijing, Inner Mongolia, Hebei, Fujian, Zhejiang, Sichuan, and Yunnan [1] - Bond Types: Transaction Association ABN, enterprise ABS, commercial bank ordinary bonds, general corporate bonds, ultra - short - term financing bills, and medium - term notes [1] Secondary Market Transaction - Total Transaction Volume: The weekly trading volume was 64.4 billion yuan, down 1.7 billion yuan from the previous week [2] - By Bond Type: The top three in trading volume were non - financial corporate credit bonds (27.9 billion yuan), financial institution bonds (26.3 billion yuan), and interest - rate bonds (6.9 billion yuan) [2] - By Issuance Term: Green bonds with a term of less than 3 years had the highest trading volume, accounting for about 82.45% [2] - By Issuing Subject Industry: The top three industries in trading volume were finance (28.1 billion yuan), public utilities (11.9 billion yuan), and transportation equipment (22 billion yuan) [2] - By Issuing Subject Region: The top three regions in trading volume were Beijing (16.2 billion yuan), Guangdong (7.6 billion yuan), and Tianjin (7.1 billion yuan) [2] Valuation Deviation of Top Thirty Individual Bonds - Discount Bonds: The top three discount - rate bonds were 25 ShuiNeng G1 (- 0.9844%), 25 JiShui 1B (- 0.6382%), and 22 FuYuan Green Bond 02 (- 0.6016%), with the rest having a discount rate within - 0.40%. The main industries of the subjects were finance, transportation, and real estate, and the regions were mainly Beijing, Tianjin, and Jiangsu [3] - Premium Bonds: The top three premium - rate bonds were 24 LvShe Building Materials GN001 (Sustainable Linked) (0.6964%), 18 YiChang Green Bond NPB (0.5590%), and 25 EDong G1 (0.4656%), with the rest having a premium rate within 0.36%. The main industries of the subjects were finance, construction, and energy, and the regions were mainly Fujian, Beijing, and Tianjin [3]