中国经济网北京7月21日讯（记者王婉莹）7月20日，为期5天的第三届中国国际供应链促进博览会（链 博会）在京闭幕。本届链博会以"链接世界、共创未来"为主题，吸引了来自全球83个国家和地区的1200 家中外企业和机构参展，线上线下（300959）观众超21万人次，现场共签署合作协议、达成合作意向超 过6000项，交出了一份亮眼的成绩单。 中国贸促会副会长李兴乾表示，链博会已成为举世瞩目的国际经贸盛会。本届展会呈现三大亮点：一是 顺应时代凝聚共识，172个境外团组参会，是上届的2.2倍；二是成果丰硕盛况空前，参展商首发首展 152项新产品新技术，与4.2万家上下游企业建立联系；三是践行绿色发展理念，打造"零碳链博"示范样 板。 在绿色发展方面，链博会践行"绿色、环保、可持续"理念，集中展示"可持续灯塔工厂"模式。 闭幕当天，第四届链博会参展签约仪式同步举行，102家企业和机构签署参展协议，提前拿到"入场 券"，比去年现场签约数量增加50％。李兴乾表示，链博会虽只有5天，但将打造365天永不落幕的合作 平台，持续推动全球产业链供应链稳定畅通，为构建开放型世界经济注入新动能。 本届链博会创新设立"6链1展区"，举办7 ...

为推进落实"333战略"，进一步彰显中国人寿坚定不移走好中国特色金融之路，讲好保险资金作为"长期资金""耐心资本"投资服务民生保障的好故事，同 时结合深入贯彻中央八项规定精神学习教育有关要求，通过基层调研采访推动宣传更接地气、更有深度、更入人心，6月18日至20日，中国人寿在青海举 办"一个国寿 一生守护——保险投资服务民生保障"新闻发布和媒体调研采访活动。 本次活动是2025年"一个国寿 一生守护"系列调研采访活动第三站，人民日报、新华社、经济日报、中国新闻周刊、金融时报、中国证券报、上海证券 报、证券时报、证券日报、工人日报、人民网、新华网、央广网等26家中央主流媒体参加，并赴中国人寿90亿元领投的青海黄河水电公司进行实地调研采 访，深入该公司建设运营的共和光伏产业园、贡玛储能电站、龙羊峡水电站、拉西瓦水电站，了解项目惠及生态环境、民生发展的具体情况，不仅让媒体 记者对"大投资"撬动"大民生"有了更直观感受，还更生动展现了系统上下践行"一个国寿 一生守护"经营理念的积极作为和良好实践，持续与中央主流媒体 同题共答讲好中国故事，形成一大批深度采访报道。截至2025年7月20日20时，相关内容累计传播1190 ...

Core Insights - FedEx views China as a core part of its development strategy, citing the country's robust economic growth and potential for market expansion as key opportunities for the company [2][7] - The Chinese supply chain is undergoing significant changes, with advancements in digital transformation and the integration of artificial intelligence, enhancing the resilience and value of the supply chain [3][4] Group 1: Market Potential and Supply Chain Changes - China is recognized for its complete industrial chain, deep division of labor, and efficient collaboration, making it an attractive destination for foreign investment [4] - The Chinese supply chain is evolving with a focus on high-value ecosystems, driven by digital transformation and AI integration [3][4] - In 2024, China's manufacturing scale is projected to remain the largest globally for the 15th consecutive year, highlighting its critical role in the global supply chain [2] Group 2: Investment Plans and Strategic Focus - FedEx plans to enhance its routes from China to Europe, capitalizing on the growing trade between China and the EU, which saw imports and exports reach 2.82 trillion yuan in the first half of the year, a 3.5% increase year-on-year [6] - The company aims to upgrade its network in the Asia-Pacific region to support increasing transportation demands between China and Southeast Asia, following the completion of the RCEP 3.0 negotiations [6] - FedEx is focusing on empowering the supply chain in key areas such as cross-border e-commerce and heavy freight transportation, providing solutions for B2B and B2C exports and imports [6] Group 3: Sustainability Initiatives - FedEx is actively implementing green initiatives in China, with 20% of its delivery fleet now electric vehicles, and aims for global carbon neutrality by 2040 [8][10] - The company has received LEED Gold certification for its Shanghai headquarters, showcasing its commitment to sustainable infrastructure [8] - FedEx is also providing tools to help clients track their carbon emissions, supporting their sustainability goals [8][10] Group 4: Challenges and Opportunities in Green Logistics - The logistics industry's transition to green practices is becoming essential due to regulatory and market demands, with the Chinese government promoting green logistics development as part of its broader economic strategy [9][10] - The need for logistics companies to invest in sustainable practices, including infrastructure upgrades and low-carbon technologies, is critical for reducing carbon emissions [10]

Group 1 - The core governance system focuses on dual control of carbon emissions, establishing a foundation for the "dual carbon" goals and promoting a systematic path for green economic transformation [1] - The synergy between carbon emission dual control and green finance can lead to an additional reduction of 1.1 billion to 1.5 billion tons of emissions by 2030 while keeping GDP losses within an optimal range [1][2] - The implementation of a carbon budget management system at provincial levels is essential for enhancing carbon emission control and promoting regional collaboration [2][4] Group 2 - The design of inter-provincial carbon compensation mechanisms is crucial for balancing the heterogeneous costs of carbon reduction across provinces, with significant differences in marginal reduction costs [3][4] - A three-tier control system consisting of provincial carbon budgets, a national carbon market, and a central carbon reserve mechanism is proposed to support the national carbon emission dual control targets [4][5] - The establishment of a central carbon reserve "safety reserve" mechanism can help stabilize trading prices and support provinces facing challenges in emission reductions [5][6] Group 3 - Provinces can trade limited annual reduction amounts through inter-provincial carbon compensation mechanisms, allowing for flexibility in meeting carbon budget targets [6][8] - The pricing mechanism for inter-provincial carbon compensation should reference the national carbon market price to ensure stability and transparency in trading [7][8] - The development of a green financial system is essential for providing precise funding support for emission reduction projects, reducing reliance on inter-provincial carbon trading [8][9] Group 4 - The establishment of resource and environmental asset rights systems can facilitate the financial attributes of carbon assets, enabling provinces to attract social capital for carbon reduction initiatives [9][11] - The integration of green finance with inter-provincial carbon trading mechanisms can enhance the sustainability and effectiveness of emission reduction efforts [11][12] - Continuous exploration of various policy tools by provinces is necessary to deepen the integration of green finance and carbon reduction initiatives [11]

Core Viewpoint - The green transformation of bank credit structures is crucial for supporting the green transition and high-quality development of the economy, with a notable increase in green loan balances in China, reaching 36.6 trillion yuan by the end of 2024, a year-on-year growth of 13.18% [1][8]. Summary by Sections International Experience in Green Credit - The global exploration of green finance began in the 1970s, with Germany establishing the first policy-oriented environmental bank in 1974, followed by the U.S. introducing the "Superfund Act" in 1980, which established the polluter pays principle [2]. - The Equator Principles, introduced in 2003, marked the formation of international green credit standards, providing a framework for financial institutions to assess environmental and social risks [2]. Domestic Practice of Green Credit in China - The development of green credit in China can be divided into four stages: 1. Foundation Stage (1995-2006): Initial integration of environmental factors into credit decision-making [3]. 2. Exploration Stage (2007-2011): Green credit became a national environmental economic policy tool, focusing on pollution reduction [4]. 3. System Construction Stage (2012-2015): Establishment of a comprehensive green credit management system [5]. 4. Strategic Deepening Stage (2016-present): Development of a diversified product system for green finance [6]. Challenges in Green Transformation - Despite improvements in the policy framework, banks face several challenges in green transformation, including: 1. Outdated risk pricing mechanisms threatening financial stability [5]. 2. Insufficient market-driven incentives slowing down the transformation process [6]. 3. Deviations in standard execution hindering resource allocation efficiency [6]. 4. Inadequate information disclosure mechanisms exacerbating transparency issues [6]. Green Financial Product System - The balance of green loans in China has steadily increased, reaching 36.6 trillion yuan by the end of 2024, with a year-on-year growth of 13.18%, accounting for 12.7% of total loans [8]. - The issuance of green bonds has also seen rapid growth, with a total of 2,669 green bonds issued by the end of 2024, amounting to 4.16 trillion yuan [9]. Impact of "Dual Carbon" Policy on Credit Structure - The "dual carbon" policy influences credit structures across four dimensions: 1. Household Dimension: The narrative around carbon neutrality drives consumer behavior towards low-carbon products [10]. 2. Market Dimension: Carbon market policies reshape corporate financing environments, increasing costs for high-carbon enterprises [11]. 3. Government Dimension: Environmental tax policies create cost pressures on high-carbon enterprises, encouraging low-carbon investments [12]. 4. Banking Dimension: Targeted tools optimize resource allocation, enhancing the willingness of banks to supply green credit [12]. Future Outlook - Future carbon reduction policies in China are expected to evolve towards deeper market mechanisms and stronger legal frameworks, with an emphasis on aligning environmental information disclosure with international standards [13]. - Commercial banks need to enhance their core capabilities in risk pricing, product innovation, and data governance to effectively respond to the green transformation trend [14].

国家能源局总经济师鲁俊岭介绍说，截至今年5月底，我国风电、光伏装机总规模达到16.5亿千瓦，风 电、光伏单机容量以及在运光伏组件转换效率领先世界。中国能源自给率保持在80%以上，并在稳步提 升。 鲁俊岭针对我国未来能源发展提出四点建议：一是立足能源保障，提升安全可靠能源供应能力；二是着 眼绿色未来，推进清洁低碳能源转型；三是聚焦数智赋能，打造智慧高效能源的新质生产力；四是坚持 开放合作，共同提升全球能源治理水平。 中化新网讯 7月16日，第三届中国国际供应链促进博览会清洁能源主题活动在京举办。会议传递的信息 表明，中国已成为全球清洁能源产供链"稳定器"。 "中国已建成全球最大、最完整的新能源产业链，成为全球清洁能源产供链的'稳定器'。"中国贸促会副 会长于健龙指出，绿色低碳发展成为时代潮流，世界能源转型正在向高效、清洁、低碳、多元化方向加 快推进，中国作为世界最大的清洁能源市场，在全球清洁能源发展中发挥着举足轻重的作用。2024年中 国清洁能源投资规模达6250亿美元，占全球1/3，新能源汽车产销量、风光电装机容量连续十年全球第 一。同时，中国与100多个国家和地区开展绿色能源项目合作，向世界提供80%以上的 ...

来源：三秦都市报 "原来这里就是爸爸工作的地方。"7岁的糖糖走进中国石化销售陕西西安石油分公司太元路加能站好奇 地说。7月19日，中国石化陕西石油分公司开放日活动在西安太元路启动。15组员工家庭深入加能站探 秘智慧能源。 中国石化陕西石油分公司坚持"开门办企业、开放办企业"，本次邀请员工家庭"回家"，也进一步拉 近"小家"与"大家"的距离，增强员工家庭对企业的认同感和归属感，凝聚起"我的企业好，我和我的家 才会好"的广泛共识。李少青介绍道。 最后，大家观看《能源至净 生活至美》品牌理念宣传片、陕西石油《守护三秦大地的绿水青山》成果 展示片以及西安市"无废城市"系列宣传片，全方位了解公司在能源保供、推动绿色低碳转型、守护三秦 大地绿水青山等方面的不懈努力和取得的成绩，开展"无废城市 你我共建"倡议签名，承诺践行绿色低 碳生活方式，为守护三秦大地的绿水青山贡献自己的力量。活动在《满怀可爱的童年》歌声中结束。 （来源：三秦都市报） "好的汽油像晶莹的果汁""防伪标签是燃油宝的护身符。"在智慧小课堂环节，在智慧课堂环节，讲解员 向大家科普辨别真假油品、真假海龙燃油宝知识，开展辨别真假加油站小游戏和环保知识竞答互动，油 ...

关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源 ：综合报道 继与全球领先的综合性资源公司必和必拓（BHP）签署合作备忘录后，宁德时代再次拿下大单！ 近日，新加坡可再生能源开发商Vanda RE宣布与宁德时代签署框架供应协议，Vanda RE将分批从宁德时代采 购总计2.2吉瓦时（GWh）的电池储能系统。 图为新加坡可再生能源开发商Vanda RE与宁德时代签署框架协议现场 将成为东南亚最大的光储一体化项目之一 Vanda RE此次采购的项目位于印度尼西亚廖内群岛，是一个用于公共事业发展的太阳能加储能开发项目，拟 同步建设2吉瓦（GW）光伏电站和4.4 GWh储能系统，建成后将成为东南亚最大的光储一体化项目之一。 以上电池储能系统将在宁德时代位于印度尼西亚西爪哇省开设的工厂内生产，工厂早前破土动工，电池总产 能为15GWh。 Vanda RE发布的信息表示，希望该项目吸引像宁德时代这样的顶级清洁能源企业在印度尼西亚本地投资、建 厂、生产，促进当地清洁技术供应链和绿色能源行业发展，降低本地绿色能源开发成本。 据介绍，本次中标的项目是印尼—新加坡"绿色经济走廊" ...

Group 1 - The European Commission is drafting a new law requiring large companies and car rental firms to switch to electric vehicle procurement by 2030, potentially impacting about 60% of new car sales in the EU, covering a market size of approximately 6.4 million vehicles per year [1] - This initiative is seen as a crucial step towards the EU's 2035 plan to ban the sale of new petrol and diesel cars, aiming to create a substantial "baseline market" to mitigate the risks associated with the transition for car manufacturers [1] - The policy draft is currently in the internal discussion phase, with plans to be officially published and submitted for parliamentary approval by the end of summer 2025 [1] Group 2 - The European Automobile Manufacturers Association emphasizes that the transition to electrification requires comprehensive policy support, including renewable energy supply, grid upgrades, and raw material access [2] - Stellantis has warned that failure to meet EU emission reduction targets could lead to the closure of its European factories, while estimates suggest that the transition may result in the loss of approximately 600,000 jobs in the European automotive sector, particularly in major manufacturing countries like Germany and France [2] - Market data indicates that electric vehicle sales in Europe are projected to account for only 15% of new car sales in 2024, significantly below the 55% reduction target for 2030, highlighting the urgency of the policy [2] Group 3 - The EU's temporary tariffs on Chinese electric vehicles have sparked strong opposition from China, while the German government expresses concerns that protectionism may weaken industrial competitiveness [3] - The EU faces the challenge of balancing green transition goals with economic feasibility amid ongoing policy negotiations [3]

2025年07月21日 国泰君安期货商品研究晨报-绿色金融与新能源 观点与策略 | 镍：宏观情绪提振预期，现实限制弹性空间 | 2 | | --- | --- | | 不锈钢：现实与宏观博弈，钢价震荡运行 | 2 | | 碳酸锂：关注锂矿行业政策，偏强运行 | 4 | | 工业硅：供需去库，盘面较抗跌 | 6 | | 多晶硅：情绪发酵，盘面具上行驱动 | 6 | 国 泰 君 安 期 货 研 究 所 请务必阅读正文之后的免责条款部分 1 期货研究 商 品 研 究 2025 年 7 月 21 日 镍：宏观情绪提振预期，现实限制弹性空间 不锈钢：现实与宏观博弈，钢价震荡运行 张再宇 投资咨询从业资格号：Z0021479 zhangzaiyu@gtht.com 【基本面跟踪】 资料来源：国泰君安期货、同花顺、Mysteel、SMM 【宏观及行业新闻】 国 泰 君 安 期 货 研 究 镍基本面数据 | | | 指标名称 | T | T-1 | T-5 | T-10 | T-22 | T-66 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | ...