南方财经 北京时间1月28日下午，英国首相斯塔默乘机抵达北京首都国际机场，开启为期4天的访华行程。这是英 国首相时隔8年对中国进行正式访问，备受外界期待。当晚，斯塔默鼓励随行的英国商界代表，希望商 界抓住此访机遇，与中国开展合作。 "他们说，政治中8天很长，试试8年，因为英国首相已经8年没有踏上过中国的土地了。所以，你们作为 代表团成员，正在创造历史。"斯塔默表示，中国蕴藏巨大机遇，与中国接触符合英国的国家利益，要 构建一个全面、一致、稳定的对华方针。 英国政府公布的代表团名单显示，随同斯塔默访问的有近60家企业高管和机构代表，包括空客总法律顾 问兼公共事务主管约翰·哈里森（John Harrison）、阿斯利康全球首席执行官苏博科、渣打集团首席执行 官温拓思、汇丰控股集团主席聂智恒、巴克莱银行中国区CEO刘洋、葛兰素史克董事会主席司明麒、英 国航空首席商务官Colm Lacy、英美资源集团董事长钱思铎、安本集团首席执行官Jason Windsor、捷豹 路虎首席执行官Pathamadai Balaji、迈凯伦首席执行官Nicholas Collins、保诚集团首席执行官华康尧、世 界职业台球和斯诺克协会（世 ...

新华财经北京1月30日电（记者安娜） 记者30日从国家能源局获悉，2025年，我国可再生能源发电量约 4.0万亿千瓦时，超过欧盟27国用电量之和。 当日，国家能源局在北京举行新闻发布会。国家能源局发展规划司副司长邢翼腾在会上提供了上述数 据。 "2025年，我国能源供应保障能力有效提升，供需总体宽松，多项重要政策举措密集出台，行业健康有 序发展，新型能源体系建设基础持续夯实，助力我国经济持续回升向好。"邢翼腾在会上说。 据他介绍，2025年是"十四五"以来我国能源保供成效最好的一年，原煤生产保持稳定，规上工业原煤产 量同比增长1.2%；油、气产量双创历史新高，规上工业原油产量同比增长1.5%，规上工业天然气产量 同比增长6.2%；电力供应平稳有序，一批特高压直流输电工程投产送电，电力系统互补互济水平持续 提升。 2025年，我国绿色低碳转型步伐加快，有关部门制定出台新能源集成融合发展、促进新能源消纳和调控 等一系列政策措施，助力新能源发展提质增效。邢翼腾在会上提供的数据显示，2025年，我国风电光伏 新增装机超过4.3亿千瓦、累计装机规模突破18亿千瓦，可再生能源发电装机占比超过六成。 与此同时，我国深入推进 ...

2025年我国可再生能源发电量达到约4.0万亿千瓦时，超过欧盟27国用电量之和。 文丨本报记者 王林 国家能源局发展规划司副司长邢翼腾介绍，能源安全保障有力有效。202 5年是"十四五"以来能源保供成效最好的一年。原煤生产保持 稳定，规上工业原煤产量同比增长1.2%。油、气产量双创历史新高，规上工业原油产量同比增长1.5%，规上工业天然气产量同比增长 6.2%。电力供应平稳有序，一批特高压直流输电工程投产送电，电力系统互补互济水平持续提升。 End 欢迎分享给你的朋友！ 出品 | 中国能源报（c ne ne rgy） 责编丨李慧颖 1月3 0日，国家能源局召开新闻发布会，《中国能源报》记者在会上了解到，2025年，我国能源供应保障能力有效提升，供需总体宽 松，多项重要政策举措密集出台，行业健康有序发展，新型能源体系建设基础持续夯实，助力我国经济持续回升向好。 绿色低碳转型步伐加快。 制定出台新能源集成融合发展、促进新能源消纳和调控等一系列政策措施，助力新能源发展提质增效。全年 风电光伏新增装机超过4.3亿千瓦、累计装机规模突破18亿千瓦，可再生能源发电装机占比超过六成。 可再生能源发电量达到约4 .0万 亿千 ...

期货研究报告|黑色专题 2026-01-30 王海涛 wanghaitao@htfc.com 从业资格号：F3057899 投资咨询号：Z0016256 邝志鹏 kuangzhipeng@htfc.com 从业资格号：F3056360 投资咨询号：Z0016171 能源消费结构深层变革，电力结构转型率先垂范 研究院 黑色建材组 研究员 余彩云 投资咨询业务资格： 证监许可【2011】1289 号 策略摘要 过去十年全球能源消费结构和电力供给结构都发生了巨大的转变，化石能源在其中的 占比不断下降，而可再生能源则迎来了高速发展期，这种翻天覆地的变革对于全球而 言，不仅带来前所未有的机遇，也带来难以估量的挑战。电力市场作为这次能源消费 结构改革的排头兵，即走在了改革的前列，也承担着改革的重任。展望未来，能源消 费结构的变革之路依旧道阻且长，然而转型的方向却始终如一，其中电力市场依旧起 到决定性作用。电力结构变革不仅仅是发电模式的转变，更需要电网系统、配套储能 和终端消费的共同协作，通过技术进步和制度优化最终完成电力市场的历史性变革， 进而推动全球能源消费结构的巨大革新。 核心观点 yucaiyun@htfc.com ...

伦敦和纽约，2026年1月26日 – 彭博新能源财经的年度报告《能源转型投资趋势》(ETIT)显示， 2025年全球能源转型投资额达到创纪录的2.3万亿美元，同比增长8%。主要投资驱动因素包括： 交通运输电气化（8,930亿美元）、可再生能源（6,900亿美元）和电网投资（4,830亿美元）。 然而，作为全球最大能源转型市场，中国电力市场政策调整带来了新的不确定性，可再生能源投 资同比下降9.5%。除氢能（73亿美元）和核能（360亿美元）外，彭博新能源财经追踪的所有其 他领域投资均实现增长。 该报告显示，2025年清洁能源供应投资连续第二年超越化石燃料供应投资，两者差距从2024年 的850亿美元扩大至1,020亿美元。清洁能源投资（包括可再生能源、核能、碳捕集、氢能、储能 和电网）持续增长的同时，化石燃料供应投资自2020年以来首次下滑，同比下降90亿美元。此 降幅主要源于上游油气和化石能源发电领域的支出下降，降幅分别为90亿美元和140亿美元，但 对天然气与煤炭的投资增长部分抵消了这一影响。尽管能源转型投资规模创历史新高，但增速持 续放缓，从2021年的27%降至2025年的8%。 彭博新能源财经的《能 ...

Core Insights - The 15th UAE International Investment Summit will take place from April 13-15, 2026, in Dubai, focusing on "Reshaping Global Prosperity: Opening New Investment Paths Towards a Sustainable and Inclusive Future" and is expected to attract over 2,000 institutions from more than 180 countries [2] - A China-UAE Energy Project Exchange Conference will be held from April 12-17, 2026, to promote investment and cooperation in the energy sector, including oil and gas, renewable energy, and energy digitalization [2] - The event aims to facilitate high-level dialogues and cooperation in the energy sector, connecting project owners, sovereign wealth funds, and key enterprises [5] Event Details - The China-UAE Energy Project Exchange Conference is organized by China Energy News and AIM Global Foundation, with a scale of 100 participants [5] - The agenda includes a series of activities such as enterprise roadshows, capital matching, roundtable discussions, and business dinners, aimed at integrating companies into the UAE market [2][5] - The conference will feature key speakers from both Chinese and UAE energy sectors, including government officials, executives from state-owned and private enterprises, and representatives from financial institutions [6] Proposed Schedule - April 12: Conference registration [7] - April 13: Opening ceremony of the UAE International Investment Summit, industry-specific meetings, exhibitions, and a summit dinner [7] - April 14: China-UAE Energy Project Exchange Conference, including keynote speeches and project roadshows focusing on new energy, smart grids, and traditional energy upgrades [7][8] - April 15-17: Business visits to understand investment environments, development plans, operational models, and product demands [9]

Core Insights - The digital financial service M-Pesa is transforming lives in rural Kenya, providing access to banking services through mobile technology, with over 51 million users across Africa, highlighting the importance of digital financial inclusion in the continent's economic growth [2] - The IMF projects that Africa's economy will show resilience and steady growth, with a forecasted growth rate of over 4% in 2026, surpassing the global average [2][3] - The African Development Bank reports that Africa will remain a hub for high-growth economies, with some countries expected to achieve double-digit growth by 2026 [3][4] Economic Growth Projections - Africa's economic growth is projected at approximately 4.2% in 2025 and 4.3% in 2026, with 13 countries expected to exceed 6% growth [3][4] - Public debt as a percentage of GDP is expected to decrease from 66.3% in 2023 to 65.5% in 2024, maintaining below 65% through 2026, indicating a more stable macroeconomic environment [3] Regional Performance - East Africa is projected to maintain a growth rate of about 6.2% in 2026, driven by investments in agriculture and energy infrastructure [4] - West Africa is undergoing significant economic transformation, with countries like Senegal, Guinea, Côte d'Ivoire, and Ghana expected to see growth rates surpassing 6% [4] - Southern Africa faces slower growth due to challenges such as power shortages and high-interest rates, but a moderate recovery is anticipated in the latter half of 2026 [4] Digital and Green Energy Initiatives - The rapid adoption of digital technology and green energy projects is seen as a key driver of economic growth in Africa, with over 800 million active mobile payment accounts in sub-Saharan Africa [5][6] - The African e-commerce market is growing rapidly, with user numbers expected to reach approximately 518 million by 2025 and a market size of around $84 billion by 2030 [5] Infrastructure and Trade Developments - Significant progress is being made in infrastructure projects, such as the completion of the Guinea Bissau bridge and the activation of the Tanzania-Zambia railway project, enhancing regional connectivity [8] - China remains Africa's largest trading partner, with trade exceeding $300 billion for the first time, reflecting a diverse and dynamic trade relationship [7][8]

记者1月28日从国家能源局获悉：截至2025年底，全国累计发电装机容量38.9亿千瓦，同比增长16.1%。 其中，太阳能发电装机容量12.0亿千瓦，同比增长35.4%；风电装机容量6.4亿千瓦，同比增长22.9%。 通过坚持集中式与分布式并举，加快推进以沙漠、戈壁、荒漠地区为重点的大型风电光伏发电基地建 设，推动海上风电规范有序建设，积极推广城镇、农村屋顶光伏，鼓励发展乡村分散式风电等举措，我 国已构建起全球最大、发展最快的可再生能源体系，风电光伏装机占全球风电光伏总装机的近一半。 （文章来源：人民日报） 2025年，风电光伏累计装机历史性超过火电，截至12月底已超出约3亿千瓦。近4年风电光伏新增装机规 模连续突破1亿、2亿、3亿、4亿千瓦关口。 这是我国风电光伏累计装机首次超过18亿千瓦，达到18.4亿千瓦，占比达47.3%。 ...

Core Viewpoint - Under the "carbon peak and carbon neutrality" strategic goals, China's renewable energy development has achieved a historic breakthrough, with wind and solar installed capacity reaching an all-time high [3]. Group 1: Installed Capacity Growth - As of the end of 2025, the total installed power generation capacity in China reached 3.89 billion kilowatts, a year-on-year increase of 16.1% [3]. - The cumulative installed capacity of wind and solar power exceeded 1.84 billion kilowatts, accounting for 47.3% of the total, marking the first time it surpassed thermal power by over 300 million kilowatts [4][6]. - Solar power generation capacity reached 1.2 billion kilowatts, with a year-on-year growth of 35.4%, while wind power capacity reached 640 million kilowatts, growing by 22.9% [3]. Group 2: Annual New Installations - In 2025, new solar power installations amounted to 315.07 GW, and new wind power installations reached 119.33 GW, both setting new records [6]. - The annual new installed capacity of wind and solar has shown a stepwise increase over the past four years, with 2025 seeing an addition of 43 million kilowatts [5]. Group 3: Policy and Market Position - China has positioned renewable energy development at the core of its energy transition, establishing a development path focused on "wind and solar as the main sources, with multi-energy complementarity" [6]. - The country has implemented several policy documents, including the "14th Five-Year Plan for Renewable Energy Development," to promote rapid development and reduce reliance on fossil fuels [6][7]. - China has been the world's largest market for wind and solar power for several consecutive years, with 80% of new installations since the 14th Five-Year Plan contributed by renewable energy [7].

Core Viewpoint - Beijing Energy International (00686) plans to acquire 70% of Yangzhou Tai Run Low Carbon Technology Development Co., Ltd. for approximately RMB 248 million, aligning with national renewable energy goals and the company's strategic development [1] Group 1: Acquisition Details - The buyer, a wholly-owned subsidiary of the company, is set to complete the acquisition on January 28, 2026 [1] - The target company specializes in power generation, transmission, distribution, and solar power technology services [1] Group 2: Strategic Alignment - The board believes the acquisition supports national renewable energy objectives and the company's overall interests [1] - The acquisition aligns with China's renewable energy era and the "14th Five-Year Plan" [1] Group 3: Project Capacity and Synergy - Post-acquisition, the project’s installed capacity could reach approximately 294 megawatts [1] - The proximity of the target project to the company's existing solar power project in Gaoyou, Jiangsu, is expected to create synergies [1] - Both projects are located in Jiangsu province, facilitating easier management and enhancing generation capacity and profitability [1]