Core Viewpoint - The Shanghai Stock Exchange (SSE) is actively promoting the development of the green and ESG bond market to support the green transformation of real enterprises and enhance the effectiveness of financing for the real economy [1][3]. Group 1: Market Development and Achievements - As of October 2025, the cumulative issuance scale of green bonds (including ABS) on the SSE has approached 900 billion yuan, with low-carbon transition bonds exceeding 80 billion yuan since their launch in 2022 [1]. - The market structure of SSE's green and low-carbon transition bonds is characterized by a diversified maturity profile, primarily mid-term, with issuers spanning key industries such as industrial, public utilities, and finance [1][4]. Group 2: Financing Mechanisms and Benefits - The financing mechanisms for green bonds and low-carbon transition bonds on the SSE are considered convenient, effectively meeting companies' financing needs in related fields [3]. - The SSE allows funds raised from green bonds to replace self-funded expenditures on green projects incurred in the previous 12 months, providing greater autonomy in choosing issuance timing and reducing financing costs [3]. Group 3: Secondary Market Innovations - The SSE has lowered the threshold for green bonds to be included as benchmark market-making securities, enhancing liquidity and pricing efficiency in the secondary market [4]. - The introduction of a science and technology innovation bond ETF has effectively reduced financing costs and could further stimulate market activity if similar products are launched in the green bond market [4]. Group 4: Future Directions and Recommendations - Participants at the symposium emphasized the importance of enhancing the flexibility of fund usage and management, as well as optimizing incentive policies to expand the depth and breadth of the green bond market [6]. - There is a call for a richer supply of green bonds to broaden investment choices, with expectations for more enterprises to issue green bonds on the SSE [6]. Group 5: Standards and Training - The understanding and application of green bond standards are becoming focal points, with suggestions for increased industry training and communication to enhance market participants' capabilities [7]. - Future innovations in bonds are encouraged to include areas such as biodiversity, climate adaptation, and carbon benefits to promote the development of the green finance system [7].

与会证券公司代表提到，上交所市场近年发行多单"绿色+X"复合贴标债券，能够实现政策效应聚合与 首单标杆引领，在提升对发行人吸引力同时，也将生态保护、城乡融合、科技创新等多重目标纳入融资 框架，提升了绿色债券服务实体经济质效。 为扎实做好绿色金融"大文章"，进一步提升债券市场服务绿色发展与实体经济转型质效，上交所近日举 办了绿色债券和ESG债券创新发展座谈调研会，企业代表、证券公司代表、投资机构代表、绿色评级机 构代表及专家学者共同探讨绿色债券市场发展取得的成效及未来发展方向。证券时报记者获悉，上交所 将扎实推进绿色及ESG债券市场建设，为实体企业绿色转型提供更有力融资支持。 近年来，上交所积极落实国家绿色发展战略，持续推进绿色金融相关的产品和机制创新，积极发展绿色 及ESG债券市场。截至2025年10月末，上交所绿色债券(含ABS)累计发行规模已接近9000亿元；低碳转 型债自2022年推出以来，累计发行规模超过800亿元。 从市场结构来看，上交所绿色及低碳转型债券呈现以中期为主、短期与长期为辅的多元化期限特征；发 行主体覆盖工业、公用事业和金融等重点行业，汇聚了大型央企、地方国企和民营企业等多元化市场主 体 ...

Core Viewpoint - The successful delivery of the first batch of 200 Fengjing T7 electric micro trucks marks a significant milestone for Futian Tuyano and a leading logistics company, highlighting the growing recognition and demand for electric logistics vehicles in the market [1][3][4]. Group 1: Strategic Importance - The Fengjing T7 is positioned as a strategic model in the new energy logistics vehicle sector, quickly gaining recognition from major industry clients and securing a large order of 1,000 units, which underscores the product's performance and brand influence [3][5]. - The partnership between Futian Tuyano and the logistics company is characterized by a strong alignment of capabilities, with the logistics company selecting the Fengjing T7 based on its economic efficiency, reliability, and adaptability to various scenarios [5][6]. Group 2: Technological Advancements - The Fengjing T7 addresses the high energy costs that have traditionally hindered profitability in the freight industry, achieving a remarkable energy efficiency of 96.5% and a low operational cost of only 0.09 yuan per kilometer, resulting in an 88% reduction in total cost of ownership compared to traditional gasoline vehicles [8]. - The vehicle's design includes a versatile platform that caters to diverse freight needs, offering various cargo box lengths and types, making it suitable for a wide range of applications from fresh food delivery to bulk transport [10]. Group 3: Driver-Centric Features - The Fengjing T7 is designed with driver comfort in mind, featuring a spacious cabin and adjustable seating to allow drivers to rest during breaks, along with advanced safety systems to protect valuable cargo [12]. Group 4: Industry Impact - The delivery of the first 200 units of the Fengjing T7 is expected to play a crucial role in establishing an efficient, economical, and safe delivery network, serving as a replicable model for the large-scale application of electric micro trucks in the logistics sector [14]. - Futian Tuyano aims to continue its focus on technological innovation and deepen strategic collaborations to promote the adoption of new energy logistics vehicles, contributing to the development of green urban delivery solutions [16].

人民银行苏州市分行相关负责人表示，将持续立足"环太湖生态圈"资源禀赋，以政策引导为抓手， 聚焦生物质能利用、湖体富营养化治理、湿地生态修复等重点领域，推动金融机构迭代升级"生物多样 性绩效挂钩贷款"产品体系，进一步撬动社会资本投向绿色发展新赛道，助力实现生态保护、绿色发展 与民生改善有机统一，为美丽江苏建设注入强劲金融动力。 据介绍，项目通过污泥焚烧技术彻底分解重金属及持久性有机污染物，从源头避免了填埋渗漏引发 的跨介质污染，每年可释放填埋库容约18万立方米，相当于25个标准足球场（1.5米深度）的土地空 间；同时有效降低恶臭、渗滤液对太湖支流及周边湿地的影响，为青脚鹬、黑翅长脚鹬等迁徙水鸟守护 了优质栖息地。此外，项目副产的高活性粉煤灰可100%替代水泥原料，供给周边建材企业使用，进一 步减少矿山开采对山体植被的破坏，助力区域生态系统良性循环。 值得关注的是，人民银行苏州市分行在贷款实施过程中指导金融机构严格依据相关要求，将"病原 微生物灭活率"纳入贷后核心核查指标。该项目通过1100℃以上高温处置工艺，实现污泥中99.9%的细 菌、病毒及寄生虫卵被杀灭，大幅降低病原体传播的生态风险，为该类信贷项目生物安全 ...

Core Viewpoint - The event in Sydney focused on showcasing China's new quality productivity and investment opportunities, emphasizing the high-quality development prospects of the Chinese economy during the 14th Five-Year Plan period [2]. Group 1: Event Overview - The Shenzhen Stock Exchange organized a roadshow in Australia to present the stories of innovation and development of listed companies, aiming to attract local investors [2]. - Six representative companies from the Shenzhen market participated, including Tianqi Lithium, Goldwind Technology, and others from the green low-carbon and high-end manufacturing sectors [2][4]. Group 2: Industry Alignment - The participating companies align with Australia's focus on green low-carbon and high-end manufacturing, which are areas of significant interest for local investors [4]. - Tianqi Lithium holds leading lithium resources in Australia, while Goldwind Technology is a leader in the wind power sector, both aligning with Australia's renewable energy goals [4]. Group 3: Investor Sentiment - Australian investment institutions expressed optimism about Chinese companies' technological innovation and their movement towards higher value chains, indicating strong development prospects [5][10]. - The interaction at the roadshow reflected a positive outlook from foreign capital towards the long-term value of the Chinese market [12]. Group 4: Technological Innovation - Chinese companies showcased their commitment to innovation, with Tianqi Lithium emphasizing its market-oriented R&D management system and breakthroughs in lithium extraction technology [7]. - Other companies like MCG and Aoxin have maintained high R&D investment ratios, contributing to advancements in AI and battery technologies [7]. Group 5: ESG Practices - The participating companies have shown consistent improvement in ESG ratings, transitioning from compliance to value creation, which has attracted long-term investors [9]. - Companies like Goldwind Technology and Aoxin are integrating sustainability into their core strategies, enhancing their appeal to investors focused on ESG criteria [9].

Core Viewpoint - The article emphasizes the importance of materials such as silicon, lithium, and platinum-palladium in the context of energy transition and global carbon neutrality goals, highlighting their role in strategic emerging industries in China [1]. Conference Organization - The conference is organized by the China Nonferrous Metals Industry Association, with various supporting and co-organizing units including futures companies and industry associations related to silicon, lithium, and platinum group metals [2]. - The event will take place in Guangzhou from December 11 to 12, 2025, featuring activities such as a welcome dinner, keynote speeches, and multiple forums focused on different sectors of the new energy and materials industry [2]. Conference Agenda - The preliminary agenda includes registration on December 11, followed by a futures service industry cultivation activity and a welcome dinner. The next day will feature an opening ceremony, keynote reports, and site visits, along with sub-forums on platinum-palladium, silicon energy, and lithium battery new energy industries [2]. - Registration for the conference is free, with certain member units receiving complimentary materials and meal vouchers [2].

在技术布局上，福田汽车形成纯电、氢燃料、混动多路线并行格局，推动业务结构均衡发展，让新能源成为拉动增长的核心动力。纯电领域坚持三电自研自 制，如爱易科重型超级电驱动，集超级安全、超级节能、超级智能于一体，可电可氢、涵盖电控、电驱桥、电池三大系统，以全技术领跑、全场景产品矩 阵、生态服务创新引领新能源商用车新标准。混动领域，福田汽车于2023年发布FHS混动技术品牌，实现了对快递快运、冷链、配货、煤炭运输等各类运输 场景的全面覆盖。氢能领域，福田汽车服务过奥运等国际赛事，自研300kW高功率氢燃料电池发动机，最高效率超过63%。 在碳减排实践中，福田汽车构建了全生命周期碳足迹管理体系，从原材料采购、生产制造、物流运输到车辆使用和回收，全面降低碳排放。并系统推 进"EPMES"双碳工程，通过能效提升、低碳产品、绿色制造、绿色生态圈、能碳管理体系建设五大路径，构建全生命周期绿色发展体系。福田汽车将绿色 发展理念贯穿全生态环节，力争2030年新能源车销量占比提升至50%，让新能源成为业务增长的核心动力。 CPP平台是全球首个汽车全产业链碳足迹信息公示平台，以数字化赋能低碳化，助力中国汽车产业完善汽车碳数据。此次，福田 ...

在全球能源加速转型的大背景下，名旺集团此次战略规划涵盖新能源汽车销售与服务体系、锂电池与储 能技术、电驱核心研发、智能充电与换电基础设施建设、海外新能源项目合作，以及面向全链路的数字 化能源管理系统。通过打造智能制造能力、能源科技能力与金融赋能能力的综合矩阵，集团计划在未来 十年内构建覆盖多区域、多业态、多场景的全球新能源生态。 名旺集团指出，国家"双碳"战略已成为推动全球能源革命的核心力量，而未来十年，将是新能源产业最 具确定性、最具战略价值的黄金窗口期。在这一关键节点，名旺选择以更开放、更深度协同的方式，与 行业伙伴共同建立覆盖国内外的新能源补能系统，包括固定充电、移动充电、换电站网络、换电服务车 系统及面向两轮、三轮、四轮车辆的全场景能源补给模式。集团认为，补能体系的竞争，正从单一产品 竞争转向系统化能力竞争，而智能调度系统、数字能源平台与可视化能源管理，将成为未来新能源企业 的核心护城河。 本次启动计划中，集团特别强调"线上＋线下"双驱动的重要性。线下方面，将围绕充电基础设施、换电 体系、储能设备及海外体验中心，加速推进实体网络的落地；线上方面，则依托数字能源平台的建设， 通过能源调度、用户系统、收益 ...

Core Viewpoint - China Pacific Insurance (601601) is actively participating in sustainable development initiatives, showcasing its commitment to ecological conservation and green development through its involvement in the China International Import Expo [5]. Group 1: Event Overview - On November 6, China Pacific Insurance's subsidiary, China Pacific Property Insurance, held a themed event titled "Zero Carbon Import Expo Green Hosting" at the National Exhibition and Convention Center in Shanghai [1]. - The event was attended by officials from the China International Import Expo Bureau and Daxing'anling Forestry Group, highlighting collaboration among various stakeholders [1]. Group 2: Carbon Neutrality Initiatives - During the event, a carbon credit donation ceremony was held, where China Pacific Property Insurance purchased and donated approximately 8,000 acres of forest land and 640,000 trees from Daxing'anling, along with carbon credits from Shanghai's carbon reduction initiatives [3]. - This initiative supports the goal of achieving a "zero carbon" Import Expo and aligns with national strategies for rural revitalization and ecological protection [3]. Group 3: Strategic Implications - The Import Expo serves as a significant national platform for showcasing China's commitment to green development, and the activities conducted by China Pacific Insurance reflect its proactive approach to sustainable development [5]. - The company's efforts are positioned as a model for integrating insurance mechanisms with ecological protection and green development, contributing to a harmonious coexistence between humans and nature [3][5].

《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》明确提出，积极稳妥推进和实现碳 达峰。"十五五"时期，我国的"双碳"战略将进入从制度夯基向体系深化的关键阶段，绿色金融作为支持 碳减排的重要工具将发挥日益重要的作用。 "十四五"时期，绿色金融体系与政策建设成果显著。在即将迎来国内"碳排放总量与强度双控"的背景 下，构建统一、透明、可比且高效的碳核算体系，已成为提升国家治理能力和促进资源要素配置优化的 关键基础，还关系到绿色金融能否有效引导资本流向绿色生产力，而数字化正成为赋能碳核算与绿色金 融发展的重要抓手。 "十四五"时期：绿色金融支持"双碳"目标成效显著 "十四五"时期，我国"双碳"顶层制度全面铺展，成效显著。截至"十四五"末，我国的可再生能源装机接 近22亿千瓦，构建起全球最大、发展最快的可再生能源体系；工业、交通、城乡建设等领域碳达峰实施 方案出台，重点领域碳达峰步伐加快；经济社会全面绿色转型顶层设计发布，绿色与可持续发展进一步 深化。在这一进程中，绿色金融快速发展，助力经济社会绿色转型。 绿色金融顶层设计更新。中国人民银行等七部门发布《关于进一步强化金融支持绿色低碳发展的指导意 见》，从标 ...