Group 1 - The Shanghai Stock Exchange will strongly support green financing, encouraging more eligible green enterprises to raise funds through equity and debt financing [1] - The exchange will enhance regulatory standards for ESG disclosures and continue to enrich green and ESG-related indices and products, optimizing the China Securities ESG evaluation system [1] - A report by the think tank Ember indicates that China's clean energy technology is becoming the foundation of new energy systems globally, with record green technology exports reaching $20 billion in August [1] Group 2 - The report highlights that the low prices of solar panels have made electric vehicles and batteries the main drivers of China's export value growth, with a 51% increase in electric vehicle exports coming from countries outside the OECD this year [2]

Report Industry Investment Rating There is no information provided in the report regarding the industry investment rating. Core Viewpoints The report comprehensively presents the overnight performance of the global financial market, including the trends of various futures, stocks, bonds, and foreign exchange. It also covers important macro - economic news, policy announcements, and corporate earnings reports, reflecting the complex and dynamic nature of the current financial and economic situation. Summary by Directory Overnight Night - Market Trends - International precious metal futures generally rose, with COMEX gold futures up 3.40% at $4344.3 per ounce and COMEX silver futures up 3.99% at $53.43 per ounce [3] - WTI crude oil's main contract was at $56.95 per barrel, and Brent crude oil's main contract fell 1.37% to $61.06 per barrel [4] - Most London base metals rose, with LME aluminum up 1.82% at $2796.00 per ton, LME tin up 0.94% at $35725.00 per ton, etc. [4] Important Information Macroeconomic News - The 2025 central safety production assessment and inspection will be carried out, the first time in the name of the central government [6] - The Ministry of Commerce will strengthen policy reserves and introduce new policies to stabilize foreign trade [7] - The Shanghai Futures Exchange will adjust the trading and exercise fees of natural rubber, rebar, and lead options from November 10 [7] - Fed Governor Waller supports a further rate cut this month, but the policy path remains uncertain [8] - The market is betting on three Fed rate cuts this year, with a 96.3% probability of a 25 - basis - point cut in October [8] - Two US banks suffered fraud in lending to funds investing in bad commercial mortgages, dragging down bank stocks [8] - Trump said he would meet Putin in Budapest to discuss ending the Russia - Ukraine conflict [9] Energy and Chemical Futures - As of October 16, domestic soda ash manufacturers' total inventory was 170.05 million tons, up 0.94% from Monday, and production decreased by 3.93% week - on - week [11] - India said it would prioritize the interests of its consumers in the energy sector after Trump's statement [11] - Shahe City requires glass enterprises to complete the "coal - to - gas" transformation by the end of this month, involving a production capacity of about 8100 tons per day [11] - As of October 16, the total inventory of national float glass sample enterprises was 64.276 million heavy boxes, up 2.31% month - on - month and 11.14% year - on - year [12] - As of October 16, the float glass industry's operating rate was 76.35%, up 0.34 percentage points from the 9th [12] - As of October 16, China's liquefied gas port sample inventory decreased by 2.74% week - on - week [13] - The Shanghai International Energy Exchange will adjust the position threshold of the underlying futures contract for crude oil options from November 10 [15] - As of October 16, the methanol inventory at East China ports decreased by 5.11 million tons compared to October 9 [16] - As of October 10, US natural gas inventory increased by 0.7% year - on - year [16] - India has cut its oil imports from Russia by 50% [17] Metal Futures - The Shanghai Futures Exchange and the Shanghai Gold Exchange reminded investors to guard against risks in the precious metal market [19] - Peru's copper production in August decreased by 1.6% year - on - year, but increased by 2.6% in the first eight months of 2025 [19] - The rumor of a polysilicon storage platform was false [21] - Japan, Spain, and South Korea expressed concerns about the decline in copper processing and refining fees [21] - A medium - sized recycled lead smelter in central China has gradually resumed production, with a daily output of 300 tons [22] - Guinea's bauxite exports in Q3 increased by 23% year - on - year, mostly to China [22] Black - Series Futures - As of October 16, rebar production decreased by 1.1% week - on - week, and factory and social inventories decreased [24] - Hebei Iron and Steel's 75B ferrosilicon tender price in October was 5660 yuan/ton, down 140 yuan/ton from the previous round [25] - The China Iron and Steel Association said that domestic steel demand will decline during the "15th Five - Year Plan" period [25] - As of October 16, the total inventory of imported sintered powder of 114 steel mills decreased by 87.31 million tons [27] - The average profit per ton of coke for 30 independent coking plants nationwide was - 13 yuan/ton [27] Agricultural Product Futures - From October 1 - 15, Malaysia's palm oil production increased by 6.86% month - on - month [29] - As of October 16, the physical inventory of 36 jujube sample points decreased by 1.72% week - on - week [29] - Brazil exported 1538934 tons of soybeans, 266768 tons of soybean meal, and 902772 tons of corn last week [29] - Brazil's sugar production in the second half of September increased by 10.76% year - on - year [29] Financial Market Finance - On Thursday, A - shares fluctuated with low volume, with the Shanghai Composite Index up 0.1% at 3916.23 points [32] - The Hong Kong Hang Seng Index fell 0.09% to 25888.51 points, and the Hang Seng Tech Index fell 1.18% [32] - The Shanghai Stock Exchange will support green financing and strengthen ESG disclosure supervision [32] - First Capital Securities submitted a prospectus to the Hong Kong Stock Exchange to start the A + H dual - listing process [32] - TSMC's Q3 net profit reached a record high, up 39.1% year - on - year, and it expects Q4 revenue of $322 - 334 billion [33] Industry - The government may introduce new photovoltaic capacity control policies, and the rumor of a polysilicon storage platform is false [35] - Chinese scientists have solved the key problem of solid - state battery charging, potentially doubling the battery's range [36] - The 2025 World Intelligent Connected Vehicle Conference announced the construction of a national AI automotive application pilot base [36] - The Ministry of Industry and Information Technology launched the "Millisecond Computing in Urban Areas" special action [36] - The National Healthcare Security Administration requires all regions to carry out immediate settlement of medical insurance funds by the end of 2025 [36] - The market regulator is soliciting opinions on new regulations for online food delivery services [36] - The "Linglong One" completed its cold - state performance test [37] - China's ice and snow industry scale will exceed 1 trillion yuan in 2025 [39] Overseas - Trump said he would meet Putin to discuss ending the Russia - Ukraine conflict [40] - India said it would prioritize its consumers' interests in energy after Trump's statement [40] - The US fiscal deficit in 2025 decreased by 2% compared to 2024 [40] - Fed officials have different views on the rate - cut rhythm [40] - The Bank of Japan may tighten monetary policy if the economic outlook improves [41] - The German economy is likely to stagnate in Q3 [43] International Stock Markets - US stocks fell, with the Dow down 0.65%, the S&P 500 down 0.63%, and the Nasdaq down 0.47% [44] - European stocks rose, with the German DAX up 0.38%, the French CAC40 up 1.38%, and the UK FTSE 100 up 0.12% [44] - German Chancellor Merz called for the establishment of a pan - European stock exchange [44] - Asian - Pacific stocks rose, with the South Korean Composite Index up 2.49% and the Nikkei 225 up 1.27% [44] Commodities - The Shanghai Futures Exchange adjusted the fees of natural rubber, rebar, and lead options from November 10 [45] - The Shanghai International Energy Exchange adjusted the position threshold of crude oil options from November 10 [47] - International precious metal futures rose, and crude oil futures fell [47] - Russia's oil production is expected to be 510 million tons in 2025, a 1% decrease from last year [48] - Saudi Aramco's CEO warned of a future oil supply shortage [48] Bonds - The domestic bond market was strong, with most spot bond yields falling [49] - Uncertainty in the French bond market is increasing due to upcoming credit reviews [50] - US bond yields fell across the board [50] Foreign Exchange - The on - shore RMB against the US dollar fell 11 points at 16:30 on Thursday [51] - The US Treasury Secretary said the yen would stabilize if the Bank of Japan implemented the right policy [51] - The US dollar index fell 0.31% at the New York close [51]

Core Viewpoint - China Water Affairs (00855) plans to issue US dollar-denominated senior notes, backed by its subsidiary, and will conduct a series of briefings for institutional investors [1] Group 1: Issuance Details - The pricing of the notes, including total principal amount, issue price, and interest rate, will be determined based on the results of the book-building activities conducted by joint global coordinators and bookrunners [1] - The net proceeds from the issuance, after deducting underwriting discounts, commissions, and other estimated expenses, will be used to repay certain offshore debts [1] Group 2: Use of Proceeds - The company plans to use all or part of the proceeds from the issuance to finance or refinance eligible green projects, particularly water supply projects, in accordance with the blue-green financing framework [1]

Core Viewpoint - The government of Côte d'Ivoire is integrating climate issues into its economic development strategy through the establishment of a "Resilience and Sustainability Fund" aimed at promoting inclusive and environmentally friendly growth [1] Summary by Relevant Categories Government Initiatives - The Ivorian government plans to accelerate the implementation of projects under the Resilience and Sustainability Fund to drive reforms [1] - Key reform measures include incorporating climate issues into public finance and investment management to better allocate resources while considering climate risks [1] Policy Coordination - There will be an emphasis on strengthening the formulation and coordination of climate policies to ensure unified action across various departments [1] Agricultural Resilience - The government aims to enhance agricultural resilience to address the impacts of climate change [1] Green Financing - Efforts will be made to mobilize resources towards green industries and to bolster green financing support for both public and private sectors [1]

Core Insights - The Hong Kong government has developed a concrete action plan and clear policies to enhance its status as a green finance center [1] - The Hong Kong Stock Exchange (HKEX) provides a special listing channel for technology companies, attracting many firms from the electric vehicle supply chain and energy storage sectors to list in Hong Kong [1] - The market capitalization of the new energy sector in Hong Kong has reached USD 806 billion, accounting for 13% of the total market capitalization, which is a fivefold increase compared to ten years ago [1] - Hong Kong has become the largest global financing and investment platform for electric vehicles [1] Carbon Trading and Green Bonds - The carbon trading market "Core Climate" in Hong Kong is priced in both HKD and RMB and has served over 60 Belt and Road projects, indicating positive progress in the development of carbon credit tools [1] - Hong Kong's issuance of green and sustainable bonds accounts for 45% of the total in Asia [1] - There are currently over 200 recognized Environmental, Social, and Governance (ESG) fund products in Hong Kong, with an asset management scale of HKD 1.1 trillion, which has increased by approximately 18% compared to three years ago [1]

Core Points - Côte d'Ivoire has signed its first sustainable loan agreement with Standard Chartered Bank for €433 million (approximately $505 million) [1] - The loan is backed by the World Bank through the International Bank for Reconstruction and Development (IBRD) and the Multilateral Investment Guarantee Agency (MIGA) [1] - The agreement aims to set mandatory targets for renewable energy and reforestation projects by 2030, marking the initiation of Côte d'Ivoire's green financing [1] Loan Structure - The loan follows a "Sustainability-Linked Loan (SLL)" model, where the cost is contingent on the country's ability to meet predetermined sustainability targets [1] - If Côte d'Ivoire exceeds its sustainability goals, the interest rate will gradually decrease; conversely, if targets are not met, the interest rate will increase [1] - The Ministry of Finance will track and verify performance through annual reports using remote sensing and geospatial monitoring technology [1] Development Goals - The government has set two key development objectives: increasing the share of renewable energy (excluding hydropower) in installed capacity from 1% in 2023 to 11% by 2030 [1] - Additionally, the government aims to limit forest cover loss to 300,000 hectares between 2025 and 2030 and to restore 1 million hectares of forest by 2030 [1] - These initiatives align with the sustainability financing framework jointly launched by the Côte d'Ivoire government and the World Bank in July 2025 [1]

Group 1: Autonomous Vehicles and Logistics - Baidu has launched open road testing for its Apollo Go autonomous vehicles in the UAE, with plans to deploy thousands of self-driving cars in partnership with Uber, marking the first such initiative in Asia and the Middle East [2] - A new international cargo route from Urumqi to Dubai has been established, significantly reducing transportation time from 20-30 hours to approximately 6 hours, enhancing logistics efficiency by over 70% [2] Group 2: Mergers and Acquisitions - In the first half of 2025, the UAE's merger and acquisition transaction volume reached $25.4 billion, accounting for 43% of the total $58.7 billion in the MENA region [3] Group 3: Banking and Financial Performance - As of May 2025, the total assets of UAE banks increased by 2.7% to AED 4.878 trillion, with total credit rising to AED 2.293 trillion, a growth of 1.5% [3] - The UAE Central Bank's gold reserves grew by 25.9% in the first five months of the year, reaching AED 28.933 billion [3] Group 4: Digital Economy and Startups - In the first half of 2025, Dubai's digital economy chamber supported 308 digital startups, a 39% increase from the previous year [3] - The Dubai International Chamber attracted 143 new companies in the first half of 2025, a 138% increase year-on-year, including 31 multinational companies [4] Group 5: Renewable Energy and Infrastructure - Masdar has invested over AED 6.19 billion (approximately $1.685 billion) in renewable energy projects through green bonds, which are expected to reduce CO2 emissions by over 6.28 million tons annually [5] - Masdar has decided to pause its green hydrogen project and shift focus to data centers due to changing market dynamics [5] Group 6: Electric Vehicles and Charging Infrastructure - Parkin has signed a 10-year agreement to deploy 200 "ultra-fast" electric vehicle charging stations in Dubai, aiming to reduce charging time to under 30 minutes [5] - Faraday Future plans to establish a factory in Ras Al Khaimah, UAE, for assembling its FX Super One electric vans, supported by AED 30 million (approximately $8.1 million) in initial funding [6] Group 7: Economic Growth and Trade - Qatar's economy is expected to grow by 4.8% in 2026, with signs of recovery in the non-energy sector [7] - Qatar's total foreign trade reached QAR 476.28 billion in 2024, a 1.3% increase year-on-year, with a trade surplus of QAR 215.64 billion [7] Group 8: Financial Center and Investments - The Qatar Financial Center registered 828 new companies in the first half of 2025, a 64% increase year-on-year, reflecting investor confidence in the Qatari market [8] - Qatar's royal family has committed to invest $31 billion in Botswana and Zambia for infrastructure and development projects [8]

Group 1 - The Jordanian government has signed an agreement with the Global Green Growth Institute (GGGI) to establish an official office in Jordan [1] - The new office will provide long-term technical and institutional support to the Jordanian government [1] - The initiative aims to assist in developing policies and plans that align with national environmental and economic priorities, focusing on sustainable transportation, renewable energy, and climate-smart agriculture [1]

Core Viewpoint - The Asian Infrastructure Investment Bank (AIIB) has achieved significant milestones in its first ten years, expanding its membership and project financing while setting ambitious new goals for the future [2][3][4]. Group 1: AIIB's Achievements - AIIB's membership has grown from 57 to 110 countries, representing a diverse range of interests, particularly from developing nations [2][5]. - Over the past decade, AIIB has approved more than 300 projects with a total financing amount exceeding $60 billion, which has mobilized over $200 billion in capital across various sectors including transportation, energy, and healthcare [6][5]. - AIIB has successfully completed its mid-term goals ahead of schedule, such as achieving a climate financing ratio of 67% in 2024, surpassing the target of 50% [6][3]. Group 2: New Strategic Goals - AIIB has updated its Mid-term Development Strategy (2021-2030) to include more ambitious targets, such as reaching an annual loan scale of $17 billion by 2030 and maintaining a climate financing ratio above 50% [3][9]. - The bank aims to enhance its focus on green infrastructure and cross-border connectivity, which are critical for economic transformation in many developing countries [10][11]. Group 3: Future Directions and Challenges - AIIB is expected to play a crucial role in mobilizing private capital for infrastructure investments, addressing the funding gap faced by many developing nations [11][12]. - The bank's leadership emphasizes the importance of adapting to new challenges while continuing to expand its influence and operational capacity [9][12]. - There is a call for innovative financing mechanisms and collaboration among member countries to enhance project viability and attract private sector participation [11][12].

Core Viewpoint - The Asian Infrastructure Investment Bank (AIIB), established by China and 57 countries, is celebrating its 10th anniversary, with a council meeting scheduled in Beijing to review its achievements and future strategies [1] Group 1: AIIB's 10th Anniversary and Annual Meeting - The AIIB's annual flagship event will take place from June 24 to 26, with the theme "Connecting for Development, Collaborating for Prosperity" [1] - The meeting is expected to attract over 3,500 guests from nearly 100 countries and regions [1] - There will be 17 public seminars focusing on five key topics: digital transformation and smart infrastructure, green financing, mobilizing private capital, cross-border connectivity and regional cooperation, and government collaboration under a multilateral framework [1] Group 2: Cross-Border Connectivity and Financing - Cross-border connectivity plays a crucial role in promoting trade, enhancing people-to-people exchanges, and driving sustainable development, yet significant financing gaps remain for cross-border infrastructure projects [2] - The AIIB's Mid-term Development Strategy (2021-2030) prioritizes cross-border connectivity and regional cooperation, aiming to allocate 25%-30% of its financing to related projects by 2030 [2] - China will host two thematic seminars focusing on the role of infrastructure in reshaping global trade connectivity and innovative financing solutions for inclusive growth [2]