Core Insights - The national carbon market in China is experiencing significant growth, with over 1,300 new key emission units added, leading to an increase in total greenhouse gas emissions by approximately 3 billion tons, now covering over 60% of the national CO2 emissions [1] - As of August 2025, the cumulative trading volume in the national carbon market reached 696 million tons, with a total transaction value of 47.826 billion yuan [1] - The market is becoming more active, with a 44% increase in daily trading volume compared to the previous compliance cycle, and a total transaction value of 18 billion yuan in 2024, the highest since the market's inception [2] Market Activity - The inclusion of the steel, cement, and aluminum industries has led to 1,277 new trading accounts being opened by key emission units as of August 2025 [2] - The trading willingness among key emission units has increased, with total buy and sell orders in the market rising by 232% year-on-year [2] - The average closing price of carbon credits was 69.30 yuan per ton as of August 2025, maintaining a reasonable range despite a global decline in carbon prices [2] Green Transition - The carbon market has played a crucial role in reducing carbon intensity in the power sector, which decreased by 10.8% from 2018 to 2024 [3] - A total of 564 key emission units in the power sector have achieved surplus quotas, amounting to 58.25 million tons, translating to approximately 4 billion yuan in revenue based on the average closing price [3] Policy Support - The central government has issued a comprehensive policy document aimed at advancing the national carbon market, with goals to cover major industrial sectors by 2027 and establish a robust trading system by 2030 [4] - The People's Bank of China is enhancing the green finance system to support the transition to a low-carbon economy [4] Data Governance - The establishment of a refined management process is seen as a key indicator of the maturity of the carbon market's data governance system [5] - Recommendations include developing cross-border carbon trading management measures to support international trading [5]

Group 1 - The State Intellectual Property Office of China has published a patent application titled "A Research Method and System for Carbon Emission Influencing Factors and Reduction Pathways" by China Construction Second Engineering Bureau Installation Engineering Co., Ltd., Beijing Urban Construction Group Co., Ltd., and China Construction Second Engineering Bureau New Type Prefabricated Building (Hebei) Co., Ltd. The application date is April 2025 [1] - The patent involves a method for carbon emission management, which includes generating a carbon emission influence matrix based on influencing factors, standardizing the matrix, calculating a comprehensive influence matrix, and determining reduction pathways through hierarchical analysis [1] - The invention aims to achieve refined and phased management of carbon emission control by designing reduction pathways for different stages [1] Group 2 - China Construction Second Engineering Bureau Installation Engineering Co., Ltd. was established in 1988, located in Beijing, with a registered capital of 500 million RMB. The company has participated in 2,325 bidding projects and holds 838 patents [2] - Beijing Urban Construction Group Co., Ltd. was founded in 1993, also in Beijing, with a registered capital of 750 million RMB. The company has invested in 117 enterprises and participated in 5,000 bidding projects, holding 1,976 patents [2] - China Construction Second Engineering Bureau New Type Prefabricated Building (Hebei) Co., Ltd. was established in 2022 in Langfang, with a registered capital of 10.38158 million RMB. The company holds 3 patents and 1 administrative license [2]

Core Viewpoint - Eastern Airlines has developed a carbon emission monitoring system in collaboration with its planning and development department and data science company, enhancing compliance, transparency, and digital management of carbon assets [1][2] Group 1: System Features - The system creates a digital monitoring framework for real-time tracking and lifecycle management of flight carbon emissions, integrating various data sources for dynamic collection and intelligent analysis of fuel consumption [1][2] - It establishes a comprehensive digital management system for fuel consumption, enabling internal monitoring and external auditing of carbon emissions, thus improving management standards and transparency [1][2] Group 2: Efficiency and Accuracy - Prior to the system's implementation, Eastern Airlines relied on manual calculations for carbon emissions, which were inefficient and prone to errors; the new system significantly reduces labor costs and enhances data processing capabilities [2] - The system can process 1 million carbon emission data entries in just 10 minutes, ensuring high accuracy through intelligent verification mechanisms [2] Group 3: Future Developments - The system will continue to be optimized and upgraded, with plans to add functionalities for carbon trading and settlement, providing reliable data support for participation in carbon markets [2]

Core Points - The Ministry of Industry and Information Technology (MIIT) has released key points for the standardization work in the automotive sector for 2025, focusing on enhancing green and low-carbon standards [1] - The initiative aims to promote the implementation of standards for passenger vehicle fuel consumption evaluation methods and indicators, as well as energy consumption limits for electric vehicles [1] - The development of standards for monitoring energy consumption in passenger vehicles, electric utilization coefficients for light hybrid vehicles, and predictive cruise control system evaluations is being accelerated [1] Group 1 - The MIIT is conducting preliminary research on standards for average fuel consumption evaluation of heavy commercial vehicles, technical specifications for hydrogen (ammonia) engine vehicles, and classification and grading of automotive energy-saving [1] - The initiative aims to continuously promote energy conservation and emission reduction in the automotive industry [1] - The MIIT is pushing for the implementation of standards related to greenhouse gas management terminology and definitions for road vehicles, product carbon footprint labeling, and carbon footprints for key products related to passenger vehicles [1] Group 2 - The initiative includes the review and approval of carbon emission accounting standards for engine manufacturing companies and scrapped vehicle recycling enterprises [1] - The development of carbon footprint standards for complete vehicle manufacturing companies, electric vehicles, power batteries, and drive motors is being accelerated [1] - Preliminary research is being conducted on carbon reduction technology standards related to electronic identification of automotive products, the use of recycled materials, and comprehensive utilization of scrapped vehicles [1]

Group 1 - Moutai Group and Zunyi Municipal Government held a joint meeting to deepen cooperation and achieve win-win development, focusing on the construction of the world-class sauce-flavor liquor industry core area and important liquor production base [1] - Wuliangye Group plans to increase its shareholding in the company by 500 million to 1 billion yuan within the next six months, reflecting confidence in the company's future stability and long-term value [2] - Fenjiu will host the third Fen Si Carnival in Beijing, featuring a cultural exhibition and a high-end tasting event for aged Fenjiu, while also soliciting contributions of the oldest Fenjiu produced before 1990 [3] Group 2 - Gujing Gongjiu expects total revenue of 23.578 billion yuan for 2024, representing a year-on-year growth of 16.41%, with a net profit of 5.514 billion yuan, up 20.15% [4] - Guizhou Provincial Department of Commerce plans to conduct a training program for the internationalization of the liquor industry, scheduled for April 10-11, 2025, focusing on various aspects of liquor export [6] - A new national standard for greenhouse gas emissions, specifically for the food, tobacco, and liquor industries, has been implemented, marking a shift towards more refined carbon emission management in traditional high-energy-consuming industries [7]