Core Insights - The report highlights China's significant contributions to climate change mitigation and adaptation, showcasing its commitment to global climate governance and green development [2][3][4][5] Group 1: Climate Change Mitigation Efforts - In 2024, non-fossil energy is projected to account for 19.8% of China's total energy consumption, with coal consumption decreasing from 67.4% in 2013 to 53.2% [3] - The report indicates that the lithium battery and photovoltaic industries are expected to achieve double-digit growth in multiple indicators in 2024, with China's new energy vehicle production leading globally for ten consecutive years [3] - The national carbon market has entered a new phase, with a cumulative trading volume of 728 million tons and a transaction value of 49.83 billion yuan as of September 2025, marking a historical high for the market [4] Group 2: Global Climate Leadership - China has contributed to a significant reduction in global wind and solar power costs by over 60% and 80%, respectively, while creating 46% of global renewable energy jobs [4] - By the end of 2024, China has signed 54 climate cooperation agreements with 42 developing countries, enhancing their capacity to address climate change through various initiatives [4] - China's announcement of its 2035 national contribution targets aligns with the Paris Agreement, reflecting its commitment to international climate goals [5] Group 3: International Cooperation and Policy Stance - The report outlines China's basic stance for COP30, emphasizing the importance of multilateral cooperation, adherence to the UN Framework Convention on Climate Change, and promoting a just global green transition [5] - China remains committed to its climate actions and international cooperation efforts, regardless of changing global circumstances [5]

记者近日从沈阳铝镁设计研究院有限公司（以下简称"沈阳院"）获悉，由沈阳院自主研发的"铝电解槽 瞬态磁流体稳定性自适应增强调控及扰动抑制技术"，不仅在国内广泛应用，还成功走向海外，标志着 我国在电解铝核心节能技术领域实现了从跟跑到领跑的跨越。 据介绍，电解铝生产过程中的磁流体不稳定问题，一直是制约节能降耗的世界性难题。沈阳院研发团队 自2010年起潜心攻关，创新性地构建了网络化自均衡模型，突破了传统技术的局限，实现了对电解槽内 复杂电磁流场的精准"拿捏"与动态调控。更为关键的是，团队配套研发了全电流强防磁高能激光及定向 自蔓延在线焊接技术，一举解决了在高强度磁场环境下"不停产"进行技术改造的行业痛点，为现有铝厂 的升级改造扫清了障碍。 据了解，目前该技术已在国内28个、国外6个电解铝系列项目中成功落地。应用数据显示，此项技术可 使电解槽运行稳定性大幅提升，同时节能降碳效果显著，其吨铝直流电耗降低120千瓦时以上。以一个 年产50万吨的电解铝系列为例，年节电量高达6万兆瓦时，相当于减少二氧化碳排放约4.74万吨。这项 技术的规模化应用，显著提升了我国电解铝工业的绿色竞争力，并在国际竞标中脱颖而出，为全球电解 铝行 ...

国家气候战略中心战略规划部主任 柴麒敏：表面上碳达峰碳中和是环境问题、气候问题，实际上跟经济的发展、产业投资、国际贸易、新市场新技术的部 署都息息相关，本质上是一个发展问题。 专家表示，加快能源绿色低碳转型是全面绿色转型的"牛鼻子"。当前中国已经构建了全球最大、发展最快的可再生能源体系，建成了全球最大最完整的新能 源产业链。 生态环境部环境规划院副院长 万军 ：美丽中国建设是一个系统工程，首先颜值要高，建设天蓝、地绿、水清的美丽中国；其次是发展质量要好，要坚持绿 色、低碳、高质量的发展；第三个还要体现在治理体系、治理能力的现代化。体制机制能够保障美丽中国建设的持续开展。 专家表示，"十五五"时期是美丽中国建设承上启下、实现生态环境根本好转的关键时期，要持续深入推进污染防治攻坚和生态系统优化。 万军：要坚持以PM2.5控制为主线，加大PM2.5和臭氧的协同控制力度，推动挥发性有机物和氮氧化物的协同减排。在水环境方面，增加了200多个小微水体 和支流的断面监测，同时增加水生态的评价考核。 在加快绿色转型、建设美丽中国的过程中，"双碳"目标的牵引作用日益凸显。 央视网消息："十五五"规划建议提出，以碳达峰碳中和为牵 ...

自2020年9月"双碳"目标提出以来，光伏新增装机持续超越火电。2025年1月至7月，全国新增光伏装机 量达2.23亿千瓦，为同期火电新增装机量的5.3倍，表明中国电力系统正快速实现绿色低碳转型。 值得注意的是，在《巴黎协定》达成10周年之际，9月24日，中国在联合国气候变化峰会上宣布新一轮 国家自主贡献目标。目标中明确：到2035年，非化石能源消费占能源消费总量的比重达到30%以上，风 电和太阳能发电总装机容量达到2020年的6倍以上、力争达到36亿千瓦。 对此，公众环境研究中心主任马军告诉《每日经济新闻》记者，2035年风电和太阳能发电总装机容量要 达到36亿千瓦，光伏在中间肯定要占到绝对的主体位置。这也将为中国光伏建设擘画出一个新的蓝图。 每经北京11月3日电（记者李彪）11月3日，"光伏赋能全球绿色低碳转型"主题交流会于北京举行，会上 发布了由中国环境科学研究院提供技术指导、公众环境研究中心与绿色江南共同编写的《十亿千瓦，向 光而行——2025中国光伏建设进展报告》（以下简称"报告"）。 值得注意的是，今年正值《巴黎协定》签署十周年与中国"双碳"目标提出五周年，绿色低碳转型的成效 备受关注，特别是光伏 ...

Core Viewpoint - The global mining industry is undergoing a significant transformation driven by a new round of technological revolution and industrial change, with increasing demand for mineral resources from emerging industries and a focus on energy transition [1][3]. Group 1: Mining Investment and Discoveries - In 2024, China's geological exploration investment reached 115.99 billion yuan, marking four consecutive years of growth, with a cumulative investment of nearly 450 billion yuan since the 14th Five-Year Plan [1]. - A total of 150 new mineral sites were discovered in 2024, including 49 large, 54 medium, and 47 small sites, with notable discoveries in ordinary fluorite, lithium, gold, and iron [3][4]. Group 2: Demand and Supply Dynamics - China is the world's largest producer, consumer, and trader of mineral resources, with 13 minerals accounting for 50% of global production and 23 minerals for over 50% of global consumption [3]. - The demand for minerals such as iron, copper, and energy resources is expected to remain high, driven by the growth of the new energy industry, with lithium and rare earths projected to see several-fold increases in demand by 2050 [4][6]. Group 3: International Cooperation and Strategic Needs - China's reliance on imports for strategic minerals poses a significant challenge, necessitating enhanced international mining cooperation to address domestic supply gaps [6][7]. - The need for Chinese mining companies to expand overseas has become essential, as accessing high-quality resources abroad can reduce long-term operational costs and enhance profitability [7]. Group 4: Green and Intelligent Mining Development - The global shift towards green and low-carbon development is driving a massive demand for new energy minerals, leading to a transformation in mining practices towards smart and sustainable operations [8][9]. - The implementation of new technologies such as digital twins, AI, and cloud computing is becoming prevalent in mining, with a focus on ecological restoration and sustainable practices [9][10]. Group 5: Regulatory Framework and Future Outlook - The new Mineral Resources Law, effective from July 1, introduces comprehensive regulations for ecological restoration and strategic mineral reserves, enhancing legal confidence for international mining investments [10]. - The mining sector is advancing towards a model that emphasizes security, technological advancement, and sustainable development, aiming for a balance between economic, social, and environmental benefits [10].

本次对话会以"投资山东 共赢未来"为主题，聚焦产业生态，开展务实交流。 11月6日，山东省政府将再赴进博之约，举办"2025山东与跨国公司产业生态合作伙伴对话会"，这是山 东连续第八年参加进博会并举办活动。本次对话会以"投资山东 共赢未来"为主题，聚焦产业生态，开 展务实交流。 山东产业生态的"链主"引力 绿色山东： 今年3月，习近平总书记在会见国际工商界代表时指出，一些外资企业是全球相关产业的"链主"，同大 量上下游企业形成共生共赢的产业生态。 这一判断在山东得到了生动验证。德国汉高乐泰、英国阿斯利康、新加坡金鹰集团、美国惠普、日本小 松等世界500强和行业领军企业扎根山东，带动形成了新材料、生物医药、新一代信息技术、工程机械 等一批具有较强影响力的产业集群，这些外资企业"链主"带来的不仅是资金，更是完整的产业链条和创 新生态。 低碳转型合作空间广阔 在能源结构优化方面，全省清洁能源发电装机容量已达1.15亿千瓦，占电力总装机比重提升至48.3%， 稳居全国前列。在发展方式上，"十四五"以来，山东以年均3.9%的能耗增长支撑了年均6%的经济增 长，万元GDP能耗下降18.5%，能效水平持续提升，为跨国公司开 ...

Group 1: Carbon Emission Trading Impact - The steel industry will transition to carbon emission intensity control from 2025 to 2026, linking quota distribution to corporate carbon emission levels [3] - By 2027, a tightening quota system will be established, enhancing carbon data quality and promoting technological innovation in the steel sector [3] - Inclusion in the national carbon market will improve transparency and reduce carbon tariff burdens for Chinese steel exports, enhancing international competitiveness [3] Group 2: Company Preparations for Carbon Reduction - The company is constructing a new electric furnace that aims to achieve over 70% carbon reduction in high-quality green steel production [4] - Research on advanced carbon reduction technologies has yielded positive results, including trials for hydrogen and biomass injection in blast furnaces [4] - Ten products have completed Environmental Product Declarations (EPD), establishing a low-carbon product system and proprietary low-carbon labeling [4] Group 3: Low-Carbon Electric Furnace Production - The electric furnace production line at Shougang's subsidiary is under construction, expected to be operational by 2026, with an annual carbon reduction of approximately 1.43 million tons [6] - The national carbon market will cover major industrial sectors by 2027, with a focus on reducing greenhouse gas emissions [6] - The establishment of a Green Manufacturing Committee and a Low-Carbon Management Center aims to enhance the company's low-carbon development capabilities [6] Group 4: Innovations in Electrical Steel Products - Shougang Zhixin has launched a series of ultra-high magnetic soft magnetic materials for humanoid robots, achieving a magnetic induction strength of 1.75T [7] - The new electrical steel products have shown a torque increase of 1.6% and a 27% reduction in iron loss compared to conventional materials [7] - These innovations have been validated by leading humanoid robot manufacturers, with one international company already placing bulk orders [7] Group 5: Automotive Steel Product Competitiveness - The company is focusing on lightweight demands in the electric vehicle sector by enhancing the development and promotion of high-strength and ultra-high-strength products [7] - To meet increasing quality demands for automotive exterior panels, the company is developing a comprehensive, multi-product solution to strengthen its competitive edge [7]

女士们，先生们，朋友们： 2025年10月31日，习近平在亚太经合组织第三十二次领导人非正式会议第一阶段会议上发表重要讲话。 习近平建议，共同推进贸易数字化绿色化。充分发挥数字技术对跨境贸易的促进作用，推进无纸贸易、 智慧海关等务实合作。破除各种绿色壁垒，拓展绿色产业、清洁能源和绿色矿产合作。中方在亚太经合 组织首倡设立的亚太示范电子口岸网络、绿色供应链网络，已经成为区域贸易数字化绿色化合作的重要 平台。 发布会文字实录如下： 发挥亚太引领作用 共促世界发展繁荣 ——在亚太经合组织工商领导人峰会上的书面演讲 （2025年10月31日，庆州） 中华人民共和国主席 习近平 各位工商界代表， 很高兴再次到访历史古城庆州，出席亚太经合组织工商领导人峰会。 当前，世界百年变局加速演进，国际形势变乱交织，全球经济增长乏力。世界正站在新的十字路口：是 团结合作、互利共赢，还是重回霸权主义、丛林法则？是坚持多边主义、开放包容，还是走向单边主 义、保护主义？何去何从将深刻影响世界的未来。我们要展现远见和担当，作出符合亚太人民期待、经 得起历史检验的抉择。 "往古者，所以知今也。"80年前，世界反法西斯战争取得伟大胜利，逐步建立 ...

Investment Rating - The report maintains a "Positive" investment rating for the transportation industry [12] Core Insights - The report identifies four key development focuses and investment opportunities for the transportation industry over the next five years, summarized as "Two Internals and Two Promotions": combating internal competition, driving domestic demand, promoting overseas expansion, and facilitating transformation [2][6][17] Summary by Sections Express Delivery - The ongoing effort to combat internal competition in the express delivery sector is expected to remain effective, positively impacting the entire e-commerce express delivery segment. Key recommendations include YTO Express, Shentong Express, Jitu Express, Zhongtong Express, and Yunda Express [2][6][17] Aviation - The implementation of paid staggered vacations is anticipated to improve the supply-demand dynamics in the aviation industry, aiding in reversing the current profitability downturn. Recommendations include A-share private airlines and the three major Hong Kong airlines [2][6][17] Overseas Expansion - The development of new growth poles through overseas expansion and the construction of the Western Land-Sea New Corridor is highlighted. This opens up profit margins for overseas enterprises, with continued recommendations for Jitu Express, Jiayou International, and Eastern Airlines Logistics [2][6][17] Green Transition - The report emphasizes the acceleration of green low-carbon transformation, marking the year as a significant one for green fuel investments. The focus is on promoting a green production and lifestyle, particularly in the transportation sector [2][6][17] Passenger Transport - Domestic passenger traffic has shown a 5% year-on-year increase, while international passenger traffic has risen by 20%. The domestic passenger load factor has improved by 2.2 percentage points year-on-year, and international load factors have increased by 5.6 percentage points [7][40] Maritime Transport - The average VLCC-TCE rate has surged by 44.1% to $114,000 per day, driven by increased demand from the Middle East. The SCFI index for foreign trade container shipping has risen by 10.5% to 1,551 points, indicating a favorable market environment [8][61][62] Logistics - The volume of express deliveries has increased by 9.9% year-on-year, with a stable demand for coal transportation. The report highlights the ongoing price adjustments in the express delivery sector, recommending investments in YTO Express, Shentong Express, Jitu Express, and Zhongtong Express [9][17]

Core Viewpoint - The "14th Five-Year Plan" and "15th Five-Year Plan" emphasize a transition towards green and low-carbon development, with a focus on carbon peak and carbon neutrality as guiding principles for policy formulation [1][2][6] Group 1: Green Transition and Policy Changes - The transition from pollution control to green low-carbon transformation is highlighted in recent policy statements, indicating a fundamental shift in environmental governance tools [2] - The dual control system for carbon emissions will replace the previous energy consumption control, marking a significant change in China's approach to environmental management [2] - The "15th Five-Year Plan" aims to implement energy-saving and carbon reduction actions in key industries, targeting a reduction of approximately 400 million tons of CO2 emissions [2][3] Group 2: Development of Green Low-Carbon Industries - The scale of China's green low-carbon industry is currently estimated at 11 trillion yuan, with potential for significant growth in the next five years [3] - The plan includes the establishment of around 100 national-level zero-carbon parks, which will provide substantial growth opportunities for the green low-carbon sector [3] - A comprehensive carbon emission accounting system will be developed, alongside an expansion of the national carbon trading market, to facilitate investment in efficient emission reduction technologies [3][5] Group 3: New Energy System and Infrastructure - The adjustment of the energy structure aims to increase the proportion of clean energy supply, with a projected annual addition of 200 million kilowatts of wind and solar capacity over the next decade [4][5] - The construction of a new energy system will focus on integrated energy infrastructure, including pumped storage and smart grids, to enhance energy supply security and resilience [5] - The green certificate market has seen significant progress, with 4.46 billion green certificates traded in 2024, indicating a successful development of the green trading market [5][6] Group 4: Environmental Protection and Circular Economy - The plan outlines actions for solid waste management and environmental risk prevention, aiming to extend the environmental protection industry from end-of-pipe treatment to comprehensive pollution reduction [6][7] - The target for the utilization of major solid waste is set at 4.5 billion tons by 2030, promoting the development of a circular economy [7] - Policies will be implemented to support green low-carbon development across various sectors, indicating a shift towards systemic economic transformation [7]