Group 1: Core Insights - Jiangsu is focusing on "Beautiful Jiangsu Construction" as part of its "14th Five-Year Plan," emphasizing environmental quality improvement to support high-quality economic development [1] - The province has implemented measures to optimize environmental assessment and pollution discharge management, ensuring efficient project approvals and supporting over 1,600 major projects in the past five years [1] - Jiangsu's commitment to ecological protection is seen as a driver for sustainable economic growth, integrating high-level environmental protection with development goals [1] Group 2: Technological Innovation - Jiangsu is supporting 67 provincial ecological environment research projects, attracting nearly 100 million yuan in investments from enterprises, universities, and research institutions [2] - The province has developed practical technologies such as VOCs monitoring and water quality fingerprinting, which are being promoted across various regions [2] - Innovative clean production audit models have been introduced, with 11 units selected as national pilot projects, enhancing green low-carbon development in industries [2] Group 3: Green Finance - Jiangsu is enhancing coordination with financial institutions to optimize environmental economic policies and promote green finance for low-carbon transitions [3] - The province has launched various financial products, including "Environmental Loans" and "Environmental Foundation Loans," with total credit exceeding 10 billion yuan [3] - Jiangsu's ecological civilization initiatives are among the top in the country, with a focus on integrating environmental protection with economic development [3]

Core Insights - The collaboration between China Everbright Bank and automotive dealers has significantly improved financing availability, allowing for timely vehicle orders and enhancing sales growth [1][2] - China Everbright Bank has established a comprehensive financial service system covering the entire automotive supply chain, recognized as a leading brand in automotive supply chain finance [1] - The bank has provided over 2 trillion yuan in financing, supporting over 100 automotive enterprises and more than 20,000 dealers, thereby enhancing the resilience and efficiency of the automotive industry [1] Financial Services - The "All-in-One" platform offers a range of financial services, including dealer inventory financing and working capital loans, with a total credit limit exceeding 14 billion yuan for a domestic brand's transition to new energy [2] - The introduction of credit card installment payment products has helped automotive companies expand their market channels and improve sales conversion rates [2] Technological Integration - China Everbright Bank is accelerating the application of advanced technologies such as artificial intelligence, big data, and cloud computing in automotive finance, enhancing the digital integration and risk management capabilities of the "All-in-One" platform [2] - The bank aims to continue optimizing financial resource allocation and strengthen the foundation of automotive supply chain financial services to support the quality and efficiency of Chinese automotive manufacturing [2]

党的二十届四中全会是在以中国式现代化全面推进强国建设关键时期召开的一次具有全局性、历史 性意义的重要会议。如何深入学习贯彻党的二十届四中全会精神，推动金融资产管理公司高质量发展， 更好地发挥防范化解风险和支持实体经济发展的独特功能？对此，《金融时报》记者专访了中信集团党 委委员、副总经理兼中信金融资产党委书记、董事长刘正均。 刘正均：党的二十届四中全会深刻把握党和国家事业发展所处的历史方位，回答了"十五五"时期确 保基本实现社会主义现代化取得决定性进展的一系列方向性、根本性重大问题，对"十五五"时期加快建 设金融强国提出明确要求，为新时代新征程做好金融工作提供了根本遵循。金融资产管理公司作为我国 金融体系内具有逆周期救助、化解金融风险、畅通要素循环特殊功能的重要组成部分，必须深刻把握全 会的重大意义、核心要义和实践要求，为推动金融强国建设取得新的重大进展作出积极贡献。 深刻领会全会的重大政治意义。全会为推进"十五五"发展谋篇布局，为接续推进第二个百年奋斗目 标凝心聚力，必将对党和国家事业发展产生重大而深远的影响。我们要充分认识全会的重大里程碑意 义，坚定拥护"两个确立"，坚决做到"两个维护"，切实把思想和行动 ...

本 期 债券是 贵州省内农商行 首单 绿色 金融债券 ， 是申万宏源证券与 贵阳农 商 银行长期信任与紧密合作的坚实成果 ， 展现出申万宏源 证券 服务区域经济，助 力绿色产业发展、做好绿色金融大文章的核心理念。未来，申万宏源证券将进一步加 大金融服务力度，持续提升服务实体经济的质效，以优质的专业能力和高效的沟通协 作，共同为区域经济高质量发展注入金融动能。 免责声明 近日，由申万宏源担任牵头主承销商的 " 贵阳农村商业银行股份有限公司 2025 年第一期绿色金融债券 " 成功发行，本期债券发行规模 15 亿元，期限 3 年，票面 利率 2.40 % 。 本期债券的发行主体贵阳农商银行成立于 2011 年，是贵州省第三大法人银行。 发行人 连续五年入围 " 中国银行业 200 强 " 、三登贵州百强系列名单、获评 2025 年省级服务业龙头企业、荣获全国五四红旗团委、全国金融系统文化建设优秀 单位 。 本内容最终解释权归申万宏源证券有限公司所有。 ...

Core Insights - The national carbon market in 2025 is characterized by expansion, increased vitality, and structural optimization, with Shanghai leading in innovative practices such as carbon finance and quota allocation [1][2] Group 1: Market Expansion and Performance - The national carbon market has expanded its coverage to include the steel, cement, and aluminum industries as of March 2025, marking the first time these sectors are included [2] - Shanghai has achieved a 100% compliance rate in carbon quota submissions for 12 consecutive years, covering 28 industries including electricity, steel, and aviation [2] - By the end of November 2025, the total transaction volume in Shanghai's carbon market reached 2.66 billion tons, amounting to 5.611 billion yuan, ranking among the top in the nine local pilot carbon markets [2][3] Group 2: Market Mechanisms and Innovations - Shanghai has introduced a "power-carbon" collaborative mechanism and established incentives for pollution reduction, rewarding outstanding companies with 0.3% to 0.5% in free quota allocations [2] - The market has seen a steady growth in trading volume and improved market balance, with the price mechanism maturing amidst fluctuations [3] - Shanghai has launched a "carbon spot + carbon forward" linkage model and has engaged in practices such as carbon pledging, carbon repurchase, and carbon insurance [3] Group 3: Financial Services and Challenges - The entry of the steel industry into the national carbon market is expected to significantly impact pricing in both steel products and related financial products [4] - There is a gap between available carbon financial tools and the actual needs of enterprises, complicating financial business models like pledge financing [4] - Financial institutions are focusing on building capabilities in carbon emission measurement, scenario analysis, and strategic policy guidance to manage climate-related financial risks [5] Group 4: Future Directions and Policy Framework - Shanghai aims to enhance its carbon market into an internationally influential center for carbon trading, finance, pricing, and innovation by 2026-2030 [6] - The market is set to improve quota management and attract more non-compliance entities, while also enhancing regulatory frameworks [6] - Carbon financial innovation will proceed cautiously, prioritizing services before products and expanding coverage of carbon accounts to facilitate individual and corporate compliance [6]

2026年01月07日 2026 年 1 月 7 日 镍：现实压力背负与周期转变叙事博弈，宽幅震荡 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：现实压力背负与周期转变叙事博弈，宽幅震荡 | 2 | | --- | --- | | 不锈钢：现实基本面拖累，盘面博弈印尼政策为主 | 2 | | 碳酸锂：铁锂加工费提涨，市场情绪偏强 | 4 | | 工业硅：消息面扰动，盘面表现偏强 | 6 | | 多晶硅：关注今日市场消息影响 | 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 不锈钢：现实基本面拖累，盘面博弈印尼政策为主 张再宇 投资咨询从业资格号：Z0021479 zhangzaiyu@gtht.com 【基本面跟踪】 镍基本面数据 | | | 指标名称 | T | T-1 | T-5 | T-10 | T-22 | T-66 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 沪镍主力（收盘价） | 139,800 | 5,700 | 7,410 | 16 ...

比如，"走出去"的钢企在进口铁矿石时面临价格与汇率双重风险。对此，广发期货（香港）为国内某大 型民营钢企的新加坡子公司提供通过铁矿石掉期合约与弹性外汇合约进行风险对冲的方案。 "该方案不仅通过场外撮合和场内清算可以满足企业大额交易需求、减少市场冲击，还以灵活的合约期 限精准匹配企业贸易账期，帮助企业有效管理铁矿石价格、汇率波动的风险，实现了跨境贸易的稳定性 和利润空间的最大化。"广发期货（香港）总经理刘博雅告诉记者。 从东南亚的橡胶园到非洲的矿场，从国际大宗商品贸易枢纽到应对全球碳排放约束的海运航线，中国期 货行业正通过不断完善的全球服务网络、持续创新的金融工具和深耕产业的专业能力，为实体企业更好 参与共建"一带一路"保驾护航。 近日，亚洲金融合作协会相关研讨会暨《案例集》发布会召开，上期所、中粮期货、中信期货、南华期 货、新湖期货等案例入选单位受邀出席，并向老挝、越南、哈萨克斯坦、匈牙利等国家和地区的120余 位与会者，分享了期货服务共建"一带一路"高质量发展的实践，展现了我国期货行业在跨境金融合作中 的创新成果与责任担当。 据期货日报记者了解，去年6月，中国期货业协会（下称中期协）组织会员单位参加亚洲金融 ...

Core Viewpoint - The 20th Central Committee's Fourth Plenary Session emphasizes the importance of accelerating the construction of a financial powerhouse and outlines a strategic blueprint for the 14th Five-Year Plan, highlighting the role of the futures market in price discovery, risk management, and resource allocation [1][3]. Group 1: Strategic Development - The "15th Five-Year Plan" suggests a focus on building a modern industrial system and emphasizes the importance of high-level technological self-reliance and a strong domestic market [3][4]. - The plan identifies the need for steady development of futures, derivatives, and asset securitization, providing a new development space for the futures industry [7]. Group 2: Role of Futures Market - The futures market is positioned as a crucial tool for enterprises to manage price volatility risks and support industrial transformation and upgrading [4][5]. - The market is expected to play an essential role in connecting finance with the real economy, enhancing the resilience of supply chains, and providing risk management services to various sectors, including green finance and inclusive finance [5][6]. Group 3: Company Initiatives - The company aims to integrate deeply into the industrial chain, offering customized risk management services and achieving breakthroughs in various key areas [5]. - The company has provided risk management services to over 1,000 industrial clients, helping them transition from merely avoiding risks to effectively managing operations [5]. Group 4: Compliance and Risk Management - The "15th Five-Year Plan" calls for comprehensive financial regulation and the establishment of a risk prevention and resolution system to ensure financial stability [8]. - The company is committed to enhancing its compliance and risk management frameworks, ensuring that risk management aligns with operational needs and effectively addresses market price fluctuations [8].

Core Viewpoint - The article emphasizes the importance of developing various financial sectors, including technology finance, green finance, inclusive finance, pension finance, and digital finance, to support the construction of a strong financial nation and facilitate economic development [2][3]. Financial "Five Articles" - The "Five Articles" focus on enhancing financial support for achieving high-level technological self-reliance, promoting green transformation, improving the inclusive financial system, developing a pension financial system, and advancing high-quality digital finance [3][4]. - The implementation of digital technology in financial services is highlighted, with eight key areas identified for development, including the establishment of big data collections for tech enterprises and optimizing green finance service models [3][4]. Low-altitude Economy - The low-altitude economy is identified as a new industry with high growth potential but also high risks, necessitating a comprehensive financial service system that caters to its unique characteristics [5][6]. - Guangdong Province has seen its low-altitude economy output exceed 100 billion yuan, prompting the introduction of the "Twelve Articles" to support the development of this sector through various financing channels [5][6]. Financial Products and Services - The "Twelve Articles" encourage the development of financial products that cover the entire lifecycle of low-altitude economy enterprises, including differentiated cash flow valuation models and support for venture capital in "hard tech" projects [6][7]. - Financial institutions are urged to create specialized service teams and innovative financial products tailored to the needs of the low-altitude economy [7][8]. Policy Coordination - The article stresses the need for coordinated efforts among various financial policies to create a conducive environment for the "Five Articles," with a focus on optimizing risk-sharing mechanisms and enhancing financial support for key economic strategies [8][9]. - As of September 2025, structural monetary policy tools supporting the "Five Articles" amounted to 3.9 trillion yuan, with significant growth in technology and green loans [9].

作为鼓楼区政协委员，他锚定绿色金融创新、产业低碳转型等重要议题深入调研，精准建言献策，相关 建议获有关方面高度重视；依托越秀平台资源禀赋助力绿色产业招引，牵头完成企业10亿元增资扩股， 以专业实绩诠释国企担当与委员使命。 他立足金融专业优势，深耕绿色租赁领域，紧密服务"双碳"战略与民生发展大局，切实履行企业负责人 与区政协委员双岗职责。作为金融工作者，他带领团队聚焦光伏、风电等新能源产业，助力乡村振兴与 普惠交通发展，累计实现省内投放规模约15亿元；所在企业获评鼓楼高新区"经济发展突出贡献"奖， 2025年为区域贡献税收近3000万元，以金融活水赋能绿色低碳发展。 徐磊 （江苏越秀融资租赁有限公司总经理） （来源：新华日报） ...