智通财经APP获悉，浙商证券发布研报称，当前我国绿证市场全体系已经基本建设完成。后续绿证供给 的弹性在于绿证核发覆盖率进一步提升，供给上升空间有限。需求端，省级政府考虑能耗双控考核、可 再生能源消纳考核的压力，会将目标分解至省内企业，促使企业购买绿证；可持续报告披露制度日益完 善、海外绿色贸易壁垒落地临近两大因素也提高了绿证的需求。综合来看，绿证供需差收敛，过剩压力 缓解，价格有望进一步提升。此外，海外绿色贸易壁垒认可度上，绿电直连>绿电交易>证电分离，有 望推进绿电直连模式在我国的发展。 浙商证券主要观点如下： 我国绿证体制机制建设基本完善 贸易认可度绿电直连>绿电交易>证电分离，开启直连新模式 在关注的海外主要绿色贸易壁垒中，欧盟《新电池法》仅认可物理直连模式为绿电使用，而CBAM认可 绿电交易协议和物理直连。而绿证主要应用在以RE100为核心的供应链企业绿电核算中。贸易认可度绿 电直连>绿电交易>证电分离。2025年5月发改委也推出新政策支持绿电直连模式发展，绿电直连模式有 望成为绿电消纳中快速增长的新业态。 风险提示 政策变化风险；市场情绪与偏好波动风险；数据变化风险。 展望后市，绿证供需差收敛，价格 ...

Core Viewpoint - The resilience of the Chinese economy is supported by collaboration across multiple sectors, including industry, policy, technology, and foreign trade, despite external challenges [1][2]. Economic Resilience - The Chinese economy's stability is attributed to its comprehensive industrial system, which covers the entire supply chain from raw materials to high-end manufacturing [2]. - The government has sufficient fiscal space to support economic growth, and the People's Bank of China employs structural tools to maintain liquidity and support key sectors [2]. - China leads in solar energy, electric vehicles, and battery manufacturing, with R&D spending exceeding 2.6% of GDP, fostering sustainable growth [2]. Foreign Investment Considerations - Foreign investors focus on GDP growth as a core indicator, emphasizing the quality and sustainability of growth rather than just speed [3]. - Inflation stability and monetary policy direction are crucial for foreign investment decisions, with a stable consumer price index providing market assurance [3]. - The vibrancy of the technology and innovation ecosystem is a key observation point for foreign investors, particularly in AI, semiconductors, and green energy [3]. Global Trade and Cooperation - China's diplomatic efforts with emerging markets in trade, infrastructure, and energy broaden market opportunities for Chinese companies and provide pathways for foreign investment [4]. Investment Opportunities - Future investment opportunities lie in sectors with long-term trends, technological disruption, and policy support, particularly in green energy and climate technology [5]. - The AI ecosystem, including semiconductors and cloud computing, is expected to undergo a prolonged technological transformation, presenting significant investment potential [5]. - The healthcare and biotechnology sectors are increasingly attractive due to rising global health demands and technological advancements in personalized medicine and genomics [5].

Core Insights - AI systems are quietly transforming urban energy landscapes by optimizing geothermal heating systems and integrating renewable energy sources [1][2][3] Group 1: AI in Energy Management - AI is creating a smart energy network by integrating solar panels, wind turbines, and geothermal systems, exemplified by South Africa's Oya hybrid power station, which supplies stable power to 320,000 households [2] - In New York, Con Edison utilizes battery storage systems to release energy during peak demand, reducing reliance on polluting peak power plants, while advanced AI software optimizes grid voltage and predicts equipment failures [2] - Capalo AI's virtual power plant in Finland intelligently schedules distributed battery charging and discharging based on price fluctuations and local consumption patterns, generating additional revenue for battery owners and enhancing grid stability [2] Group 2: Smart Heating and Cooling - In Munich, AI monitors soil temperature and humidity to optimize geothermal heating systems, adjusting heat distribution based on occupancy and weather conditions, effectively doubling warmth output without increasing energy input [4] - This technology is applicable to cities with established geothermal networks, such as Winnipeg and Reykjavik, providing energy-efficient solutions during harsh winters [4] Group 3: Innovations in Transportation - In California, the "Vehicle-to-Grid" project showcases AI's role in energy management, where electric school buses act as mobile energy storage, feeding power back to the grid during peak times [6] - Google's AI algorithms have reduced cooling energy consumption in data centers by 40%, demonstrating AI's efficiency in managing energy systems [6] - The establishment of the "Open Power AI Alliance" aims to develop open-source AI models for the power industry, facilitating rapid deployment of smart energy systems in resource-limited cities [6]

本报（chinatimes.net.cn）记者王兆寰 北京报道 "嗡嗡……嗡嗡……"孔芳芳的手机持续震动着，她有点看不过来短消息了。 7月23日，随着沪指突破3600点，券商营业部的客户们开始了更多咨询。"指数虽然涨到3600点了，但是 自己的持仓市值还停留在3000点，想要寻求专业的帮助。"一个客户在不停问她。 孔芳芳是国元证券北京东直门外大街营业部营销总监。按她自己的话说，近期工作"变忙了"。 7月11日，在沪指站上3500点后，她给大约800名客户发了信息，并提示客户行情在不断地向好，也给出 了原因：包括国家政策的预期在加强，提振消费、发展新质生产力的速度在加快等等。"其实就是提醒 客户，现阶段市场可以积极地看多，不适宜看空。" "信息发出之后，收到的回复并不多，可能大部分人看到也就看到了，要么不相信，要么不在意。只有 小部分仓位轻的股民会来探讨一下市场。"孔芳芳有些无奈。不过，在大盘站上3600以后，她再给这部 分人发信息时，回复的人明显多了。 流火的7月，A股经历了完美"大翻身"，三大指数迭创新高，沪指连闯3500和3600整数关卡，热点板块 层出不穷，成交量不断变大。A股市场新开户数达196万户， ...

中证智能财讯 近日，创新国际实业集团有限公司向香港联交所递交申请书。公司聚焦铝产业链上游，包括氧化铝精炼和电解铝冶炼。公司战略布局内蒙古 和山东，利用当地低成本电力资源，实现高自给率生产，电力自给率约88%，氧化铝自给率约84%。本次募集资金旨在拓展海外产能和绿色能源项目，预计 募集资金用于沙特阿拉伯电解铝厂建设及风能太阳能发电站开发。 值得注意的是，创新国际与关联方创新新材实控人均为崔立新，两家公司关系紧密，后者为2023年、2024年和2025年前五个月最大客户，贡献收入占比分别 为78.8%、76.6%和59.8%，存在客户集中风险。 招股书显示，创新国际计划投资2.77亿美元在沙特阿拉伯建设电解铝冶炼厂以及购买及安装生产设备，该项目计划将于2026年底前开工，预计建设施工期为 24个月，计划增加电解铝产能50万吨/年。此外，创新国际还将投向风能太阳能发电站项目，目标2027年实现清洁能源占比超50%。 据招股书，创新国际产品以电解铝为主，2024年电解铝销售收入占85.0%，其中铝液销售占比76.4%。内蒙古霍林郭勒电解铝厂为华北第四大生产基地，年 产能78.81万吨，产能利用率超95%。氧化铝产品增 ...

Core Viewpoint - The article highlights the progress of the Huadian New Energy Zhongzan 1.2 million kilowatt photovoltaic power generation project in Sichuan, which is a key initiative under China's 14th Five-Year Plan for clean energy development in the upper reaches of the Jinsha River [3][6]. Group 1: Project Overview - The project has a planned installed capacity of 1.2 million kilowatts and is expected to deliver 2.1 billion kilowatt-hours of green electricity annually, which will reduce carbon dioxide emissions by 1.62 million tons [3][6]. - As of now, 413,000 photovoltaic pile foundations have been completed, along with 175,000 spiral piles and 28,000 photovoltaic brackets [6]. Group 2: Construction Challenges - The construction site is located at an altitude of 4,000-4,400 meters, presenting extreme environmental challenges such as low oxygen levels, significant temperature fluctuations, and high ultraviolet radiation [3][6]. - Workers have faced difficulties adapting to the harsh conditions, but there has been a strong commitment to the project, with management implementing detailed task breakdowns and responsibilities [3][6]. Group 3: Environmental Protection Efforts - The company prioritizes ecological protection by utilizing advanced cutting equipment to preserve the original ecological environment and biological activity of the grasslands [6]. - A "green laboratory" has been established to enhance the vitality and survival rate of the native grasslands, employing temperature and humidity control measures [6]. Group 4: Technological Integration - The project employs a digital management platform that allows real-time monitoring of various construction aspects, improving decision-making efficiency and accuracy [7]. - The integration of technology into traditional energy projects is seen as a revitalizing force, enabling precise control over project details [7].

中化新网讯 美国能源部近期表示，已取消拜登任期签发的24个绿色能源项目，这些项目的政府总资助 金额超过37亿美元。特朗普政府表示，正在评估拜登政府为新兴技术项目签发的公共资助基金和贷款。 美国能源部表示，这些项目中近70%的资助金额在2024年11月5日至2025年1月20日期间签署。 特朗普政府正寻求最大限度提高油气产量，同时废除拜登政府在气候和清洁能源方面的一系列政策。此 次被美国能源部取消的项目包括：为埃克森美孚得克萨斯州贝汤炼厂一体化项目提供的3.32亿美元;为 美国海德堡材料公司在路易斯安那州的项目提供的5亿美元;为伊士曼化学公司在得克萨斯州朗维尤的项 目提供的3.75亿美元。其中，为贝汤项目提供的资助旨在通过氢气而非天然气来生产乙烯，从而减少碳 排放。 ...

Core Viewpoint - The article emphasizes the role of the securities industry in supporting the real economy through innovative financial services, particularly in the context of the "Five Major Articles" initiative, with a focus on technology finance as a key driver for economic development [1]. Group 1: Business Chain Collaboration - The rapid development of a new round of technological revolution and industrial transformation requires securities firms to enhance their research and operational capabilities to better serve technology innovation [2]. - The company focuses on four core sectors: AI, green energy, life sciences, and synthetic biology, aligning with national strategies and market demands [2][3]. - The firm has provided financing services to 169 technology enterprises, totaling 503.4 billion yuan by June 2025, showcasing its commitment to supporting tech companies [3][4]. Group 2: Support for Technological Industry Upgrading - The company aims to create a closed-loop system of "technological breakthroughs—industrial implementation—demand feedback—technological re-breakthrough" by connecting technology, industry, and capital [5]. - The establishment of an industry research institute in early 2022 has led to the completion of 18 thematic reports and 27 in-depth reports on key industries, contributing to national and regional economic development [5][6]. - The company has set up industry funds totaling 32.4 billion yuan to support the development of new-generation information technology, green energy, and other sectors [6]. Group 3: Resource Aggregation for Innovation Ecosystem - The company recognizes the importance of an innovation ecosystem and actively integrates resources from research institutions, leading enterprises, and financial institutions to facilitate the transformation of research results into productive forces [7]. - Collaborations with 25 renowned research institutions have been established to promote joint research and incubation of innovative projects [7][8]. - The establishment of industry alliances aims to gather resources and enhance project matching, providing comprehensive services for the transformation of scientific research achievements [8].

Group 1 - The core viewpoint of the articles highlights the collaboration between South Africa and China in vocational education, particularly in CNC (Computer Numerical Control) machining skills training [1][2][3] - The CNC machining skills training program, initiated in March 2024, involves over a hundred teachers from ten South African colleges, aiming to enhance vocational education standards in South Africa [1][2] - The South African government has set a target for vocational colleges to reach 2.5 million enrolled students by 2030, emphasizing the importance of vocational education in the country's industrialization [2][3] Group 2 - The training program includes a comprehensive curriculum that combines theoretical knowledge and practical skills, with Chinese instructors providing effective teaching methods [2] - In the past five years, over 1,500 individuals have been trained in fields such as big data, e-commerce, artificial intelligence, and cloud computing through collaborations between Chinese enterprises and South African institutions [3] - The partnership between South Africa and China in vocational education is seen as a significant aspect of practical cooperation between the two countries, with a focus on developing talent in digital economy and green energy sectors [3]

Group 1 - The core viewpoint of the articles highlights the collaboration between South Africa and China in vocational education, particularly in CNC (Computer Numerical Control) machining skills training, aimed at enhancing South Africa's industrial capabilities [1][2][3] - The CNC machining skills training program, initiated in March 2024, involves over a hundred teachers from ten vocational colleges across South Africa, facilitated by Chinese institutions [1][2] - The South African government has set a target to increase the enrollment in vocational technical colleges to 2.5 million by 2030, emphasizing the importance of vocational education in national development [2][3] Group 2 - The training program includes a comprehensive curriculum that combines theoretical knowledge with practical skills, significantly improving the participants' operational capabilities [2] - The collaboration has extended to other fields such as big data, e-commerce, artificial intelligence, and cloud computing, with over 1,500 individuals trained in the past five years [3] - The partnership between Chinese enterprises and South African vocational institutions is seen as a key area of practical cooperation, with many companies seeking to recruit South African students for internships and further training in China [3]