Core Insights - China's green bond issuance reached a record high of $101.8 billion by late October 2025, accounting for 20% of the global total, positioning China as the leader in this sector [1][4] - The increase in green bond issuance in China is part of a national strategy to promote economic growth through green industries amid a domestic economic slowdown [1][4] - The global green bond issuance totaled approximately $506 billion by late October 2025, showing an 11% year-on-year decline, with China leading the way [1][4] Group 1: Green Bond Issuance - China's green bond issuance increased by 92% year-on-year, surpassing the previous record of $97.7 billion set in 2022 [1][4] - Major financial institutions in China, such as Agricultural Bank of China and Industrial Bank, have issued significant amounts of green bonds, with the former issuing $60 billion in total [2][4] - The issuance of green bonds is primarily driven by financial institutions and state-owned enterprises in the energy sector [2][4] Group 2: Economic Context - The ongoing downturn in the real estate sector has contributed to a slowdown in China's economic growth, yet green bond issuance remains robust [4][5] - China's commitment to green industries is seen as a stable pillar for economic growth, contrasting with the fluctuating policies in countries like the U.S. [4][5] - China is projected to account for 48% of global photovoltaic capacity by 2024, reinforcing its position in renewable energy [4][5] Group 3: Regulatory Developments - In 2021, China excluded coal-related projects from its green bond support project catalog, aligning with international standards [5][6] - The Chinese government is actively working to attract foreign investment in green bonds, as evidenced by the issuance of its first green sovereign bond in London [5][6] - The standards for China's green bonds are increasingly aligning with international benchmarks, enhancing credibility in the global market [5][6] Group 4: International Implications - China's efforts to establish "green leadership" are being met with caution from Western countries, which have begun imposing tariffs on Chinese solar panels and electric vehicles [6] - As the largest emitter of greenhouse gases, China's actions in the green bond market are critical for global decarbonization efforts [6]

あなたは自分と人と比べて自信をなくす ことはありますか. または比べることで なんとか自信を保とうとすることは. 私は まさにそうでした。ずっと人と比べること で評価を自分の価値を測ってきました。 私は生まれながらに鼻の穴の大きさが違っ ていて、毎日のようにそれが原因で男の子 にいじめられました。人と違う。みんな 左右対象なのにお前だけ違う。変だ。 悪意のある言葉を投げかけられることで私 は人と同じであることを羨ましいと思うと 同時に同じである社会を憎みました。 そんな私の家にはいろんな国籍の外国人が ホームステーでよく滞在していました。 太っている人もいたし、刈上げの女性もい ました。 どの国籍の人も髪型も自由も服装も自由で 誰に媚びることもなく誰の基準に合わせる こともなくまっすぐでした。 そんな彼らに私は強く憧れました。 もちろん私の花について何かを言う人も 1人もいませんでした。 そんな彼らの共通語が英語でした。 英語は私にとって話せる言語ではなかった けれどなりたい自分に近づける鍵のように 思っていました。 やがて私は英語を学び教える立場になり ました。 そんな中で気づいたことがあります。 子供たち ...

Core Points - The implementation of the Private Economy Promotion Law provides institutional "rigid guarantees" for the development of private enterprises in China [1][2] - The law supports private enterprises in participating in major national scientific research projects and data factor market construction, enhancing their innovation capabilities [2][3] - The law establishes a comprehensive support system covering policy formulation, service guarantees, and compliance management for private enterprises [2][5] Group 1: Benefits of the Private Economy Promotion Law - The law ensures fair treatment of private enterprises in market access and promotes their participation in technological innovation [2][3] - It includes measures to improve the financing risk-sharing mechanism and address issues like delayed payments, providing financial support to private enterprises [3][4] - The law encourages private enterprises to enhance their governance structures and compliance management, fostering a modern enterprise system [3][4] Group 2: Strategic Adjustments for Private Enterprises - Private enterprises should leverage legal guarantees and policy support to deepen technological innovation and integrate into industrial ecosystems [3][6] - They are encouraged to embrace sustainable development and incorporate ESG (Environmental, Social, Governance) factors into their strategic planning [4][6] - The law aims to create a unified market access negative list, ensuring equal competition among private and state-owned enterprises [5][6] Group 3: Observations on Changes in the Private Economy - Over the past 20 years, the private economy has evolved significantly, supported by a series of favorable policies that have broadened development opportunities [6][7] - The shift towards high-end manufacturing and renewable energy sectors presents new transformation opportunities for private enterprises [6][7] - The current global economic landscape requires private enterprises to refine their development strategies and optimize resource allocation for high-quality growth [7][8] Group 4: Role of Professional Service Institutions - Professional service institutions like Ernst & Young play a crucial role in assisting private enterprises in enhancing their international operations and market expansion [8][9] - The law facilitates a comprehensive support system for private enterprises' daily operations, including overseas investment and compliance [8][9] - Ernst & Young aims to provide strategic planning, market entry, compliance management, and other professional services to support private enterprises in their international endeavors [9]