张大山点开手机，发现一笔碳汇分红已悄然入账。 作为浙江省安吉县一家村毛竹专业合作社的社员，张大山没有想到祖祖辈辈守护的竹林竟成了"绿色银 行"——竹林每年吸收的二氧化碳变成了真金白银，全县167个村年均增收超100万元。"过去砍竹卖笋， 每亩收入不到100元，如今竹林'呼吸'都能赚钱。"他笑着说。 这是邮储银行深耕绿色金融沃土的一个缩影。 破解竹林碳汇"变现难"、定制"邮碳贷"助力企业零碳技改、创新"三级联动"高效审批大型抽水蓄能项 目、落地多项创新绿色金融业务……中国邮政储蓄银行正以系统性金融解决方案，精准滴灌生态价值转 化全链条，驱动产业绿色跃升，为绿水青山向金山银山的转化提供坚实金融支撑。截至2025年6月，该 行绿色贷款余额近万亿元，较年初增长11.59%。 ● 本报记者 吴杨 毛竹"呼吸"点碳成金 在金融活水的精准滴灌下，安吉县的毛竹正加速变绿为金。 竹刀叉、竹吸管、竹地板……享有"中国竹乡"美誉、坐拥超100万亩竹林的浙江省安吉县，正积极推动 竹产业绿色升级。在安吉县两山合作社展厅，巨大的电子屏实时跳动着毛竹林的碳汇数据。 "我们打造了全国首个县级竹林碳汇收储交易平台，将分散的竹林资源整合为规模化 ...

Group 1 - The company plans to launch an asset-backed special plan, with the issuance of asset-backed securities expected on the Shanghai Stock Exchange by November 2025 or a later date [1] - The purpose of the asset-backed securities issuance is to invest in and securitize the underlying assets held by its subsidiary, Beijing Energy Development, and to raise funds for the company's operations and business development [1] - The company will appoint a project manager for the asset-backed special plan, with Beijing Energy Development acting as the seller and original equity holder [1] Group 2 - The company intends to enter into equity transfer contracts for the sale of shares in three companies: Xinyou, Youyu, and Liu'an, with expected cash consideration of not less than RMB 137 million, RMB 344 million, and RMB 163 million respectively [1] - The board believes that the proposed issuance of asset-backed securities will enhance asset utilization, improve overall asset turnover, and increase the company's working capital [1] - This initiative is also expected to lower financial costs and enhance the company's investment and financing capabilities [1]

Core Viewpoint - The establishment of the new Xinjiang Railway Company with a registered capital of 95 billion yuan signifies the steady progress of the Xinjiang railway project, which is expected to involve total investments ranging from 200 billion to 500 billion yuan [1] Investment Opportunities - The construction of the railway from Hotan to the provincial border has commenced with earthwork bidding starting in May 2025, indicating a significant advancement in infrastructure development [1] - The strategic position of Xinjiang is highlighted due to its energy, resource, and geopolitical advantages, which are expected to attract heightened policy attention and regional development [1] - The upcoming 70th anniversary of the establishment of the autonomous region may serve as a catalyst for market interest, suggesting potential investment opportunities in the Xinjiang sector [1]

Group 1 - The core viewpoint emphasizes the increasing importance of China's initiatives for the long-term development of Central Asia, marking a golden opportunity for upgrading cooperation between China and Central Asian countries [2][4] - The second China-Central Asia Summit resulted in over a hundred cooperation agreements, with the six heads of state declaring 2025-2026 as the "High-Quality Development Years" for China-Central Asia cooperation, focusing on trade, investment, and connectivity [2][3] - The summit serves as a key platform for enhancing bilateral relations, achieving significant cooperation agreements in infrastructure, energy, security, and trade, while promoting the Belt and Road Initiative to enhance regional connectivity [2][3] Group 2 - The relationship between Kazakhstan and China is steadily developing under the strategic guidance of both nations' leaders, expanding beyond mere economic cooperation to include regional stability and sustainable development [3][4] - Cooperation between Kazakhstan and China is diversifying into areas such as green economy, digital technology, and agricultural modernization, with multiple wind and solar projects initiated [3][4] - China's global initiatives focus on sustainable development, poverty reduction, and promoting South-South cooperation, which aligns with the economic diversification needs of Central Asian countries [3][4]

Investment Rating - The report does not provide a specific investment rating for the industry [2] Core Insights - The People's Bank of China, along with the Financial Regulatory Administration and the China Securities Regulatory Commission, issued the "Green Finance Support Project Directory (2025 Edition)" to enhance green finance tools for environmental improvement and sustainable development [3][11] - The UK government announced on July 15 that it would no longer pursue its sustainable finance taxonomy, indicating a shift in focus towards other policies [3][17] Summary by Sections Domestic Developments - The issuance of the "Green Finance Support Project Directory (2025 Edition)" aims to align with green development goals and enhance the green finance system [11] - Changzhou has launched an action plan to promote ESG system construction, targeting a 60% disclosure rate for listed companies by 2027 [12] - Hainan's low-carbon island construction plan aims for carbon peak by 2030 and carbon neutrality by 2060 [13] - Shandong's zero-carbon park construction plan emphasizes high standards and gradual implementation [14] - Fujian has issued trial regulations for forestry carbon credits [15] - Guizhou is organizing applications for national-level zero-carbon parks [16] ESG Financial Products Tracking - As of July 19, 2025, China has issued 3,631 ESG bonds with a total outstanding amount of 5.59 trillion RMB, where green bonds account for 61.80% [4][28] - The market has 906 existing ESG public funds with a total net asset value of 10,418.17 billion RMB, with ESG strategy products making up 51.78% [4][34] - There are 994 existing ESG bank wealth management products, with pure ESG products constituting 55.53% [4][39] Index Tracking - As of July 18, 2025, major ESG indices have shown positive performance, with the CSI 300 ESG index increasing by 0.21% and the Shenzhen ESG 300 index rising by 1.14% [5][40] Expert Opinions - The report highlights the acceleration of ESG policy development in China, emphasizing the need for systematic planning, international cooperation, and innovative thinking to enhance ESG practices [6][41]

Core Insights - Energy developer INVENERGY will provide nearly 800 megawatts (800 million watts) of power to META to support its data center operations [1] Company Summary - INVENERGY is engaged in energy development and is expanding its role by supplying significant power to major tech companies like META [1] - META is enhancing its data center capabilities through this partnership, indicating a focus on increasing operational efficiency and capacity [1]

Core Insights - Energy developer INVENERGY will provide META with nearly 800 megawatts (800 million watts) of power to support its data center operations [1] Company Summary - INVENERGY is engaged in energy development and is expanding its role by supplying significant power to major tech companies like META [1] - META is enhancing its data center capabilities through this partnership, indicating a focus on increasing operational efficiency and capacity [1]

Group 1 - The Sichuan Energy Development Group Co., Ltd. has updated the status of its 10 billion yuan small public bond project to "accepted" as of June 24, 2025 [1] - The funds raised from this bond issuance will be used for productive expenditures, including debt repayment, working capital supplementation, project investment, equity investment, or asset acquisition, in compliance with national laws and regulations [1] - The specific use of the funds will be determined based on the issuer's funding needs [1]

Core Viewpoint - A green revolution is taking place in the Kubuqi Desert, led by Inner Mongolia Energy Group and Mongcao Ecological, focusing on ecological restoration and sustainable development through innovative technologies [1][2] Group 1: Project Overview - The project involves the ecological comprehensive management of 70,000 acres of sandy land and the establishment of a 3,000-acre ecological governance demonstration area in Hangjinqi [1] - The initiative integrates the "Three North" project construction with renewable energy development, leveraging local wind and solar resources [1] Group 2: Technological Innovations - The project utilizes a variety of customized ecological innovation products, such as seed packages and planting cups, which have improved vegetation coverage by an average of 35%, increased plant diversity by 40%, and enhanced seed survival rates by 15% [2] - The application of intelligent sand control equipment, like seed rope sowing robots, has significantly increased the efficiency and effectiveness of large-scale ecological restoration [2] Group 3: Ecological Impact - The project transitions from single vegetation restoration to a holistic ecosystem reconstruction, fostering a symbiotic network of plants, animals, and microorganisms [2] - Inner Mongolia Energy Group emphasizes the combination of technology and ecology, aiming to transform the desert into a vibrant oasis, symbolizing a commitment to ecological preservation for future generations [2]

Core Viewpoint - The company plans to acquire 82% of Xinjiang Congling Energy Co., Ltd. and an additional 5% from JAAN INVESTMENTS CO. LTD. through a combination of share issuance and cash payment, which aligns with regulatory requirements for major asset restructuring [1][2]. Group 1 - The transaction will result in the company holding 100% of Xinjiang Congling Energy, making it a wholly-owned subsidiary [2]. - The assets of the target company are complete and related to its operations, ensuring no impact on the legality of the asset's existence [2]. - The transaction is expected to enhance the company's core business focus and risk resilience, while maintaining independence in operations, assets, finance, personnel, and organization [2]. Group 2 - The board has conducted a thorough analysis to confirm that the transaction complies with the regulatory requirements outlined in the guidelines for major asset restructuring [1][2]. - The company has disclosed all necessary decision-making and approval processes related to the transaction in the restructuring report [1]. - There are no concerns regarding the authenticity of the transaction counterparties' contributions or the legal continuity of the target assets [2].