Core Points - The central urban work conference emphasizes the construction of green and low-carbon beautiful cities, focusing on ecological environment governance and addressing urban air quality, drinking water source protection, and new pollutant management [1][2] - The construction of beautiful cities is a key task in promoting the construction of a beautiful China and achieving the "dual carbon" goals, as well as advancing new urbanization [1][2] - Various cities, such as Nanning and Ma'anshan, have implemented effective measures to improve urban environments, including eliminating black and odorous water bodies and increasing urban green space [1] Group 1 - The construction of beautiful cities is essential for enhancing urban quality and improving living environments [1][2] - There is a growing demand from urban residents for quality public services, ecological environments, and health safety, indicating a significant gap between current urban ecological conditions and the goals of beautiful China [2] - The approach to building beautiful cities involves a comprehensive system that integrates economic development, urban construction, and ecological protection [2] Group 2 - The transition of urban development in China is shifting from large-scale expansion to improving existing stock, focusing on quality and efficiency [2] - The strategy emphasizes ecological priority and green development, aiming for efficient production spaces, livable residential areas, and beautiful ecological environments [2] - The goal is to enhance urban biodiversity and provide more quality urban ecological products throughout the urban construction and management process [2]

Group 1: Environmental Performance and Innovations - Hebei Wuan Steel Group has achieved ultra-low emissions across its production chain, with real-time monitoring from 1,766 environmental monitoring points [1] - The company was rated as an A-level enterprise for environmental performance by the end of 2023, indicating the highest level of environmental governance in the industry [2] - The city of Wuan has seen a transformation in its steel, coking, and cement industries, with 84% of key industry enterprises achieving A-level ratings [2] Group 2: Emission Reduction Efforts - Wuan has accelerated the elimination of inefficient production capacity, shutting down all small blast furnaces and converters [2] - The transition from long-process to low-carbon, energy-saving short-process steelmaking has resulted in a reduction of 1.6 tons of CO2 and 75% of pollutant emissions per ton of steel produced [2] - New technologies, such as carbon monoxide catalytic oxidation, have been implemented, leading to a daily reduction of approximately 51 tons of emissions [3] Group 3: Air Quality Improvements - In 2024, the average concentration of carbon monoxide in Wuan was 2.1 mg/m³, a decrease of 12.5% year-on-year [4] - PM2.5 concentration in Wuan dropped to 37.2 µg/m³ in the first half of 2025, marking a 31.27% decrease compared to the previous year [4] - The number of days with good air quality reached 133, an increase of 30 days year-on-year, achieving the best air quality levels recorded [4]

Core Viewpoint - The successful completion of the first domestic pipeline load-bearing rotating bridge marks a significant milestone for the Shihe-Ru-Jinan project, which aims to provide stable and clean heating sources to Jinan, enhancing energy structure transformation towards green and low-carbon solutions [1][12]. Project Overview - The Shihe-Ru-Jinan project is a key livelihood and environmental initiative in Jinan, expected to introduce tens of millions of square meters of stable clean heating from the Tai'an Shihong Thermal Power Plant annually, effectively replacing numerous scattered coal-fired boilers in the urban area [1][12]. - The project will significantly improve heating security in the western urban area of Jinan and is projected to reduce carbon dioxide emissions by tens of thousands of tons each year, contributing to better air quality and supporting carbon neutrality goals [12]. Technical Achievements - The bridge, weighing 14,000 tons and measuring 150 meters in length and 17 meters in width, was rotated 90 degrees with millimeter-level precision, overcoming significant technical challenges in a high-density railway area [4][5]. - The project team utilized a novel "pipeline load balance rotation" construction technique, which is the first of its kind in the domestic long-distance heating sector, allowing for simultaneous installation and welding of heating pipelines during the bridge's construction [4][5]. Safety Measures - The construction took place adjacent to the busy Beijing-Shanghai Railway, necessitating stringent safety protocols to ensure zero accidents during the project [8][9]. - The project team implemented a comprehensive safety management system, including real-time monitoring and various safety measures, to protect both railway operations and construction activities [9].

图片来源/新华社 核心观点 中国在共建"一带一路"国家开展绿色投资，势必带来海量的项目落地，进而为中国绿色投资走向国际舞台提供更加丰富的发展场景，同时，也为全球绿色 低碳转型作出贡献。 ■林伯强 近年来，许多共建"一带一路"国家向联合国提交了碳减排行动计划，并制定了宏伟的能源转型战略，但这些气候转型的行动需要巨额资金支持。目前许多 国家主权债务风险上升，转型所需的资金缺口持续扩大。 联合国数据显示，发展中国家平均面临每年约4万亿美元的可持续发展融资缺口。同时，发展中国家亟须获得更多的融资和赠款以应对气候变化带来的影 响。2009年以来，全球气候谈判设定了每年筹集1000亿美元的目标，用于支持发展中国家采取应对气候变化行动，但到目前为止，这1000亿美元的目标尚 未实现。 因此，中国在共建"一带一路"国家开展绿色投资，势必带来大规模的项目落地，进而为中国绿色投资走向国际舞台提供更加丰富的发展场景，同时，也为 全球绿色低碳转型作出贡献。特别是，在当前全球贸易格局持续变动和美国退出气候变化协议的背景下，推进中国对"一带一路"绿色投资快速发展，正变 得更为重要。 中国对"一带一路"绿色投资潜力巨大 共建"一带一路"国 ...

Core Viewpoint - The Zhangjiakou Cigarette Factory is actively pursuing a green transformation in logistics, focusing on integration, intelligence, and sustainability to enhance its operational efficiency and reduce carbon emissions [1][6]. Group 1: Mechanisms for Green Transformation - The factory has established a green low-carbon circular development working group to ensure effective implementation of green initiatives, integrating them into the company's long-term development plan [1]. - A management mechanism has been created to optimize business models and management practices, focusing on cost reduction, quality improvement, and efficiency enhancement [1]. - The company is prioritizing green planning by introducing low-carbon materials and energy-saving equipment, promoting the use of clean energy in logistics and warehousing [1][2]. Group 2: Resource Recycling and Innovation - The factory is conducting research on the recycling of packaging and cigarette boxes, establishing a full-process management ledger to ensure that every box can be reused [2]. - A dynamic sharing mechanism for warehouse capacity and operational linkage has been implemented to optimize space utilization and improve logistics efficiency [2][4]. - The company is transitioning to electric and automated vehicles to create a low-carbon logistics model, collaborating with local businesses to enhance resource circulation [4]. Group 3: Employee Engagement and Cultural Shift - The factory promotes energy-saving habits among employees, fostering a culture of sustainability through various initiatives and educational programs [5][6]. - Specific actions have been taken to convert green concepts into practice, such as implementing a mechanism for exchanging old office supplies and conducting regular energy audits [5]. - Training sessions and workshops are held to encourage employee participation in green initiatives, integrating sustainability into daily work and life [6]. Group 4: Talent Development and Innovation Support - A green logistics think tank has been established to provide training and encourage employees to propose innovative ideas for energy conservation and carbon reduction [6]. - The company collaborates with experts and educational institutions to advance green technology research, allowing employees to engage in practical projects [6]. - The ongoing commitment to green logistics transformation is seen as a response to industry demands and a pathway for the company's high-quality development [6].

Core Viewpoint - The 2025 Taiyuan Energy Low Carbon Development Forum focuses on green and low-carbon transformation, aligning with national energy security strategies and promoting innovation in energy practices [1]. Group 1: Forum Highlights - The theme of the forum is "Green Low-Carbon Transformation Development: Building a New Energy System," emphasizing the transition of resource-based economies and energy security [1]. - Approximately 200 distinguished guests will attend, including international dignitaries, domestic leaders, and experts in the energy sector [2]. - The forum will showcase over 20 new technologies, applications, and products, highlighting recent innovations in the energy sector from various research institutions [3]. Group 2: Practical Cooperation - Activities will include keynote speeches, roundtable discussions, and policy interpretations, focusing on promoting cooperation in areas such as green electricity parks and unconventional natural gas [4]. - The forum will release several reports, including the "Global New Energy Enterprises Top 500 Competitiveness Report," aimed at supporting quality projects and advanced technologies in Shanxi Province [5]. Group 3: Public Engagement - A public low-carbon travel month will be organized to encourage citizen participation, along with educational activities involving over 10,000 participants [6].

Group 1 - The New Energy Index of the ChiNext board has shown a strong increase of 1.76%, with significant gains in constituent stocks such as Jinlei Co., Ltd. rising by 11.47% and CATL increasing by 7.14% [1] - The opening of the BRICS New Industrial Revolution Partnership Forum emphasizes the need for BRICS countries and developing nations to collaborate on green and low-carbon transitions, particularly in sectors like new energy vehicles, photovoltaics, wind power, and hydrogen energy [1] - The ChiNext New Energy ETF has also risen by 1.77%, indicating a positive market sentiment towards the new energy sector [1] Group 2 - CITIC Construction Investment Securities highlights that the "Price Law" supports the photovoltaic industry chain, ensuring that sales do not fall below full costs, which provides strong price support [2] - Starting from September, there will be restrictions on the production and sales of silicon materials, with output expected to remain stable month-on-month, indicating a tight supply situation [2] - The top ten weighted stocks in the ChiNext New Energy Index account for 64.15% of the index, with major players including CATL, Sungrow Power Supply, and Huichuan Technology [2]

Economic Performance - In July 2025, the industrial added value in Henan province grew by 8.8%, outperforming the national average by 3.1 percentage points[20] - The total retail sales of consumer goods in Henan reached 2125.27 billion yuan, with a year-on-year growth of 4.8%, exceeding the national growth rate by 1.1 percentage points[21] - Fixed asset investment in Henan increased by 5.6% year-on-year, higher than the national growth rate of 1.6%[23] Market Trends - In August 2025, the Henan Index rose by 12.68%, surpassing the Shanghai Composite Index's increase of 7.97% and the CSI 300 Index's increase of 10.33%[55] - The cumulative increase of the Henan Index for the first eight months of 2025 was 28.59%, consistently outperforming major benchmark indices[55] Investment Landscape - As of the end of August 2025, Henan had a total of 138 listed companies, with an A-share market capitalization of 17794.34 billion yuan, reflecting a quarter-on-quarter growth of 13.34%[6] - In the first eight months of 2025, the total amount of IPOs approved nationwide was 50, with Henan having only one company in the pipeline[6] Policy Environment - In August 2025, the financial regulatory authorities introduced a series of policies aimed at expanding consumption and supporting industrial transformation[28] - The Henan provincial government launched multiple policies to support technological innovation and the development of strategic emerging industries[34]

记者 辛圆 国资委副主任李镇周三在国新办举行的"高质量完成'十四五'规划"系列主题新闻发布会上表示，"十四 五"期间国资央企大力推进布局优化结构调整，以市场化的方式重组了6组10家企业，新组建设立9家中 央企业。 一是围绕服务国家战略实施重组整合。李镇表示，以服务战略大局、维护国家安全为鲜明导向，在重要 行业和关键领域加快推进重组整合，进一步增强了国有经济的战略支撑托底能力。比如，着眼加快建设 自主可控的卫星互联网，组建了中国星网。 二是围绕增强产业协同实施重组整合。他提到，以提高产业集中度为目标，既推动同类型业务的横向联 合，又加强上下游业务的纵向整合，有力推进解决重复投资、资源分散等问题，形成了"1+1>2"的效 果。比如，鞍钢集团重组本钢集团，既提高了企业竞争力，形成了"南宝武、北鞍钢"的发展格局，又发 挥了区域引领带动作用。 例如安徽省国资委、安徽证监局4月8日印发《关于加强省属企业控股上市公司市值管理若干事项的通 知》，提出十条举措。在并购重组方面，措施提到，鼓励聚焦提高科技创新能力实施并购重组，打造一 批科技领军企业。 南京市政府办公厅3月份印发《南京市关于支持企业并购重组高质量发展的若干措施》， ...

Core Viewpoint - The Chinese coking industry is undergoing significant structural adjustments and green transformation, driven by tightening supply and increasing high-end demand for coal tar deep processing products [2][6]. Supply Dynamics - The recent shutdown of two coking furnaces in Tangshan has led to a reduction of 1.1 million tons of coking capacity, contributing to over 5 million tons of coking capacity being phased out since 2024 [2] - The overall coking production in China is expected to be approximately 470 million tons in 2024, reflecting a slight decrease of 0.5% year-on-year, with coal tar production estimated at around 20 million tons [2] Environmental Regulations - Stricter environmental policies are causing the closure of non-compliant small coking enterprises, which is likely to further decrease coking production and limit the supply of coal tar, leading to increased costs for deep processing companies [3] Technological Upgrades - The coal tar deep processing sector is facing pressure to upgrade its technology, with current production processes primarily relying on distillation, while hydrogenation technology is gaining traction for producing high-value products [4] - By the end of 2024, China's coal tar deep processing capacity is projected to exceed 26 million tons, with an average annual growth rate of about 3% over the past five years, although capacity utilization remains between 75% and 80% due to outdated technology [4] Market Opportunities - The coal tar deep processing industry has diverse applications, including carbon black, pharmaceutical intermediates, and new energy materials, with carbon black production expected to reach 5.5 million tons in 2024 [5] - The demand for needle coke, a key material for lithium battery anodes, is projected to grow by over 20% year-on-year, reaching 1.2 million tons in 2024, indicating a significant market opportunity [5] Future Trends - The coal tar deep processing industry is anticipated to evolve towards high-end, green, and intelligent development, focusing on product structure upgrades, energy-efficient production processes, and the integration of advanced technologies such as industrial internet and big data [6]