科技创新与国际合作解锁食品行业发展新机遇。 作为2025进博会上海会议活动之一，由上海市静安区商务委员会、新西兰上海商业联合会共同主办 的"中新贸易投资新方向，行业细分策略促增长"闭门圆桌会议近日在上海举行。 本场圆桌会聚焦食品与营养健康产业，采用双边合作和跨国价值链视角，汇聚来自中新企业、政府、科 研院校和国际组织的代表，在全球不确定性加大的背景下，基于两国各自优势领域和发展趋势，进行了 深入而务实的探讨，为中新两国经贸合作的高质量与可持续发展，探索新机遇、注入新动能。 巩固传统领域，解锁新兴动能 中国商务部外贸发展事务局副局长曾花城在开幕致辞中表示，"中国的不断发展和对外开放，将为包括 新西兰在内的世界各国提供更多机遇，这也是中新关系不断发展的根本保障"。他强调，互为重要贸易 伙伴的中新两国，除了巩固传统合作领域外，更应积极地拓展新兴领域。 曾花城表示，"中国很多高科技产品和应用能与新西兰传统行业进行融合，同时通过商品贸易乃至科研 合作的形式，服务新西兰的产业发展"，另一方面"(中国)消费市场的变化，对以优质原料和产品著称的 新西兰企业来说，具有巨大的吸引力，成为其业务增长的新引擎"。 上海市静安区商务委 ...

Core Insights - The article discusses the growth and classification of sustainable bonds, emphasizing their role in promoting sustainable development and aligning with sustainability goals [1][2]. Group 1: Overview of Sustainable Bonds - Sustainable bonds are defined by the International Capital Market Association (ICMA) as bonds that finance projects beneficial to sustainable development or are linked to sustainability goals [2]. - ICMA categorizes sustainable bonds into green bonds, social responsibility bonds, sustainable development bonds, and sustainability-linked bonds [2]. Group 2: Global Market Status - As of mid-2025, the cumulative issuance of GSS+ bonds globally reached $6.2 trillion, with sovereign issuers leading at $926.1 billion, followed by the US ($859.8 billion), France ($628.6 billion), and China ($611.4 billion) [6]. - In the first half of 2025, the total issuance of GSS+ bonds was $555.8 billion, reflecting a 3.6% year-on-year decline [6]. Group 3: China's Sustainable Bond Market - In 2024, China's GSS+ bond issuance was $84.6 billion, a 3.8% decrease from $87.9 billion in 2023, with a cumulative total surpassing $500 billion by the end of 2024 [6][8]. - Green bonds accounted for over 80% of the issuance, with $68.9 billion issued in 2024, down 18.2% year-on-year [8]. - Social responsibility bonds saw a significant increase, with issuance rising by 312.5% to $13.2 billion in 2024 [8]. Group 4: Investment Focus Areas - In 2024, the majority of funds raised through green bonds were directed towards clean energy projects, including wind, solar, and hydropower, which accounted for 52.2% of the total [8]. - The transportation sector received 30.4% of the funding, indicating a strong focus on decarbonizing the energy system and upgrading transportation infrastructure [8]. Group 5: Future Trends - The sustainable bond market is expected to continue focusing on key economic and social development tasks, driven by policy guidance and market demand [10]. - The support capacity for low-carbon development through sustainable bonds is anticipated to strengthen, particularly for green bonds, as central policies are implemented [10]. - Enhanced information disclosure standards are expected to improve transparency and investment efficiency in the sustainable bond market [11].

Core Insights - The China International Import Expo (CIIE) serves as a unique platform for multinational companies to introduce their latest technologies and products to the Chinese market, enhancing communication between brands, government, enterprises, and users [1] - Brother (China) aims to convey long-term confidence in the Chinese market through its participation in CIIE, showcasing products that address local user pain points and emphasizing its commitment to serving Chinese customers [1][2] Group 1 - Brother (China) has formed a partnership with Alibaba Cloud and Salesforce to create a differentiated service ecosystem, focusing on data-driven user value operations [2] - The company is transitioning from a product-centric to a customer-centric approach, leveraging data insights to anticipate user needs and enhance competitiveness in the digital economy [2] - Brother (China) emphasizes the importance of providing integrated solutions that combine hardware, software, and services to address real user pain points, moving away from price competition [2] Group 2 - The company is aligning its growth strategy with national priorities, accelerating technology integration, and focusing on AI tools to improve efficiency and productivity for users [3] - Brother (China) is committed to sustainable development, engaging in environmental initiatives such as tree planting in Inner Mongolia and supporting women's income generation through embroidery in Yunnan [3] - The company plans to enhance its local R&D and service capabilities over the next three to five years, developing mature solutions that cater to the diverse demands of the Chinese market [3]

Core Viewpoint - The implementation of mandatory ESG disclosure for A-share listed companies is approaching, with the first reports due in 2026, marking a shift from voluntary to compulsory disclosure [1][2]. Group 1: ESG Disclosure Requirements - Companies listed in key indices such as the Shanghai Stock Exchange 180 and the Sci-Tech Innovation Board must disclose their 2025 sustainability reports by April 30, 2026 [2]. - Currently, 95% of companies that will be subject to mandatory disclosure have already released sustainability or social responsibility reports, laying a solid foundation for the new system [2]. Group 2: Strategic Planning and Implementation - Increasingly, listed companies are proactively developing comprehensive ESG strategies, with many adopting three-year cycles for their ESG reports that encompass risk identification, strategy formulation, implementation, and accountability [2]. - 87% of companies that have disclosed ESG reports have established governance structures for sustainability, and 70% have conducted dual materiality assessments, indicating a robust governance framework [2]. Group 3: Market Impact and Benchmarking - Leading companies' ESG strategies set benchmarks for the market, facilitating a transition from voluntary to standardized disclosure practices [3]. - The ESG practices of major firms, which account for over 70% of A-share market capitalization, create a positive feedback loop of disclosure, rating, and financing, encouraging smaller companies to follow suit [3]. Group 4: Challenges and Support Mechanisms - Some companies, particularly in high-energy and complex supply chain industries, face challenges in ESG disclosure, often viewing it merely as a compliance task rather than a strategic priority [4]. - Market experts suggest targeted training and support mechanisms to help companies overcome disclosure challenges, including workshops and the provision of simplified templates [5][6]. Group 5: Addressing "Greenwashing" Risks - The risk of "greenwashing" poses a significant challenge to ESG disclosure, necessitating both technological solutions and punitive measures to enhance compliance [7]. - Recommendations include establishing a data monitoring platform to analyze ESG-related data and implementing strict penalties for non-compliance to deter misleading practices [7][8]. Group 6: Regulatory Framework and Standardization - There is a need for a unified regulatory framework for ESG ratings to address the current issues of multiple standards and low comparability [8]. - Regulatory bodies are encouraged to develop quality control standards for ESG ratings and ensure transparency and reliability in the rating process [8][9]. Group 7: Future Directions - The ongoing optimization of ESG disclosure systems and the introduction of specialized guidelines for various sectors will be crucial for enhancing the quality of disclosures [9]. - As mandatory disclosure systems are implemented, ESG investment products are expected to evolve towards greater sophistication, contributing to the sustainable development of capital markets [9].

Core Viewpoint - Sony emphasizes its long-term commitment to the Chinese market, showcasing innovative technologies and sustainable practices at the China International Import Expo, highlighting its strategic focus on integrating and leveraging Chinese IP value [2][3]. Group 1: Innovation and Technology - Sony presented several innovative technologies at the expo, including the global debut of the "see-through V2X" system, which enhances driving safety by providing visual warnings in obstructed conditions [2]. - The company also showcased a cabin entertainment system that integrates 360-degree spatial audio and PS5 gaming experiences, demonstrated through a vehicle designed with popular anime themes [3]. Group 2: Sustainable Development - Sony's sustainable agricultural technology, which allows for high-density mixed planting without the need for tillage, fertilizers, or pesticides, has been successfully applied in various crops, achieving zero pesticide residue [4]. - The company introduced SORPLAS, a recyclable plastic material, in its exhibition design, showcasing its fire-resistant properties and potential for space design applications [4]. Group 3: Social Responsibility and Education - The "Sony Dream Classroom" project continues to promote educational equity, while the upgraded "Sony Dream" initiative supports the next generation of creators through technology and creativity [5]. - Sony actively supports youth talent development and women's growth through initiatives like "Young Power" and "Her Power," fostering a diverse and inclusive talent ecosystem [5]. Group 4: Environmental Commitment - The 20th anniversary of the "Sony China Sustainable Development Report" was marked by the introduction of braille and audio versions, highlighting the company's achievements in environmental, social, and governance dimensions [5]. - The exhibition design reflects eco-friendly and inclusive principles, utilizing high-recyclability materials and ensuring accessibility for all visitors [5].

Investment Rating - The report maintains a "Buy" rating for Anta Sports, with a target price not specified [7]. Core Insights - Anta's retail sales for its main brand and FILA brand showed low single-digit year-on-year growth, while other brands experienced a significant retail sales increase of 45% to 50% [1]. - The company opened over 300 new stores nationwide during the National Day holiday, including various specialized store formats to cater to different market segments [2]. - Anta has made technological advancements, launching China's first self-developed high-performance fluorine-free waterproof and moisture-permeable material, with plans to increase the proportion of sustainable products to 50% by 2030 [3]. - The HÉLÀ STYLED global tour has expanded Anta's presence in Europe, with successful events in major cities and a strategy to enhance online and offline market penetration [4]. - The profit forecast has been adjusted, with expected net profits for 2025-2027 at 13.2 billion RMB, 15.2 billion RMB, and 17.1 billion RMB, reflecting a slight downward revision from previous estimates [5]. Summary by Sections Retail Performance - Anta's main brand and FILA brand retail sales showed low single-digit growth, while other brands saw a 45%-50% increase [1]. Store Expansion - Over 300 new stores were opened, including various specialized formats such as champion stores and children's stores [2]. Technological Innovation - Anta launched a new fluorine-free waterproof material and plans to increase sustainable product usage significantly by 2030 [3]. International Strategy - The HÉLÀ STYLED global tour has enhanced Anta's brand visibility in Europe, with a focus on both online and offline sales channels [4]. Financial Forecast - Adjusted profit forecasts for 2025-2027 indicate net profits of 13.2 billion RMB, 15.2 billion RMB, and 17.1 billion RMB, with a PE ratio of 16/14/12x respectively [5].

Core Insights - MUJI showcased its commitment to sustainability and local integration at the China International Import Expo, emphasizing its 20-year journey in the Chinese market with the theme "The Beauty of Cultivation" [1][3] - The company introduced a new collection of hemp products sourced from Heilongjiang province, highlighting its collaboration with local designers and the promotion of sustainable fashion [2][3] - MUJI's exhibition featured various products that embody the concept of "natural power," including wool and cashmere items sourced from Inner Mongolia, and initiatives that support local economies and biodiversity [2][3] Group 1 - MUJI's participation in the expo reflects its deep-rooted strategy in China, focusing on local culture and natural resources [1] - The brand's philosophy of using minimal resources for a fulfilling life resonates with Chinese consumers, leading to increased recognition and appreciation [1] - The exhibition design was inspired by natural elements, creating an immersive experience for visitors [2] Group 2 - The 2026 Spring/Summer hemp collection was globally launched at the expo, showcasing designs that will be mass-produced based on a recent design competition [2] - MUJI's OBP series combines recycled materials with traditional craftsmanship, contributing to local employment opportunities [3] - Interactive experiences at the expo included hands-on activities that engaged consumers with the theme of "The Beauty of Cultivation" [3]

Core Insights - Cathay Group showcased its commitment to high-quality innovation and development at the 8th China International Import Expo, emphasizing its strategic investment planning and service experience upgrades [1][3][7] Business Innovation and Upgrades - The company presented its core business areas, including premium travel, low-cost airlines, efficient cargo, and lifestyle products, highlighting significant investments in product service upgrades and digital innovation [1][2] - A VR experience of the elegant business class was featured, allowing attendees to experience the comfort and privacy of this industry benchmark [5] Global Connectivity and Cultural Exchange - Cathay Group expanded its global passenger network to over 100 destinations, enhancing its operational capabilities and cultural exchange [4] - The introduction of the "Taste of China" in-flight meal series showcased the integration of traditional Chinese cuisine with modern culinary techniques, promoting cultural heritage [4][7] Long-term Development Strategy - The company is focused on integrating its development with the high-quality growth of China's civil aviation, emphasizing talent recruitment and sustainable aviation fuel (SAF) initiatives [6] - Cathay Group aims to continue its strategic growth and innovation as it approaches its 80th anniversary, reinforcing its role in enhancing connectivity and cultural exchange between China and the world [6][7]

Group 1: Kao Corporation - Kao Corporation participated in the 8th China International Import Expo with the theme "Co-creating Beauty, Quality for the Future," showcasing its global innovation and local integration achievements [3] - The company presented a range of products tailored for the Chinese market, including upgraded cleansing oils and sunscreen solutions, emphasizing its commitment to high-quality living for Chinese consumers [4] Group 2: Nippon Paint and GAC Aion - Nippon Paint and GAC Aion announced a strategic partnership during the expo, focusing on the development of coatings for flying cars and lightweight material protection, aiming to enhance the quality of China's low-altitude economy [6] - GAC Aion's AirCab is in the civil aviation certification phase, with plans for mass production in late 2026 and manned flights in 2027, while Nippon Paint introduced a comprehensive coating solution for low-altitude flying vehicles [6] Group 3: LEGO Group - LEGO Group showcased an immersive "City of Play" at the expo, featuring eight themed areas and a model of Shanghai made from nearly 100,000 bricks, promoting cultural connection and sustainability [8][10] - The company hosted multiple activities during the event, including global product launches and sustainability discussions, reinforcing its commitment to engaging with Chinese consumers [8] Group 4: Bayer - Bayer launched the "Allergy Star Survival Guide" during the expo, focusing on the prevention and treatment of allergic diseases, which affect nearly 250 million people in China [11] - The initiative aims to shift from passive treatment to proactive management of allergies, emphasizing the importance of early intervention and appropriate medication [11] Group 5: Herbalife - Herbalife introduced its MultiBurn supplement at the expo, targeting weight management through a blend of plant extracts that support metabolism and fat reduction [14] - The company highlighted the importance of a scientific approach to weight management, aligning with consumer demands for effective and sustainable health solutions [14]

Core Insights - Daxing Airport participated in the 23rd East Asia Airport Alliance Presidents' Conference and the 2025 Super Hub Expo, winning three awards for its outstanding performance in sustainability, terminal design, and commercial innovation [1][3][5][7] Group 1: Awards and Recognition - Daxing Airport received the "Best Sustainable Initiative" award, recognizing its exemplary environmental management and significant contributions to sustainability and climate change mitigation [3] - The "Best Terminal Design" award was given to Daxing Airport for its integration of aesthetics and operational excellence, focusing on passenger experience through innovative design and efficient passenger flow [5] - The "Best Commercial Innovation" award highlighted Daxing Airport's innovative business model and strategies that enhance commercial attractiveness and transform the airport experience from a shopping venue to a value-driven environment [7] Group 2: Sustainability and Innovation - Daxing Airport is a model of green design, utilizing renewable energy extensively and featuring the world's largest airport photovoltaic power generation system [3] - The airport adheres to green building standards, with over 70% of its structures achieving the highest three-star rating in China's green building certification [3] - Daxing Airport's commercial strategy focuses on customer-centric approaches, leveraging technology and innovative service ecosystems to meet diverse passenger needs [7]