Core Viewpoint - The establishment of the "International Zero Carbon Zero Waste City Development Alliance" aims to promote the synergistic development of "net zero emissions" and "zero waste cities" globally, facilitating green low-carbon transformation in urban areas [1][3]. Group 1: Alliance Objectives and Vision - The alliance focuses on creating a platform for policy dialogue, technological cooperation, capacity building, industrial linkage, and investment financing to support global cities in their green transitions [3]. - The vision includes building a "net zero and zero waste future city community" through global collaboration in climate governance, circular economy, and green technology innovation [3]. Group 2: Suzhou's Role and Achievements - Suzhou, as a key founding city of the alliance, has integrated the construction of a clean, low-carbon, safe, and efficient energy system into its economic and social development [3]. - Over the past decade, Suzhou's renewable energy installed capacity has increased from 300,000 kW to 6.53 million kW, representing a growth of 21 times [3]. - In 2024, Suzhou completed green electricity transactions of 4.63 billion kWh and green certificate transactions of 1.328 million, ranking first in Jiangsu Province [3]. Group 3: Forum Highlights - The forum, themed "Ten Years Hand in Hand for Energy Transformation Innovation Leading a Green Future," was co-hosted by the National Energy Administration, the International Renewable Energy Agency (IRENA), and the Jiangsu Provincial Government [4]. - During the forum, several key documents were released, including the "Global Energy Low Carbon Transition Development 2030 Suzhou Vision" and the "Energy Transformation Index Blue Book 2025," showcasing China's achievements in energy transition and technological innovation [4]. - The event attracted over 2,000 representatives from 36 countries and regions, including energy ministers, ambassadors, and leaders from international energy organizations [4].

王宏志是在当日于江苏苏州举办的2025国际能源变革论坛上作出上述表述的。此次论坛由国家能源局、 江苏省人民政府、国际可再生能源署（IRENA）共同主办。 自2015年发起以来，国际能源变革论坛已走过十年历程。"十年来，我国始终是世界绿色发展的坚定行 动派，可再生能源投资呈现阶梯式增长，风电光伏每年新增装机先后突破1亿、2亿、3亿千瓦关口。"王 宏志说，我国已构建起全球最大、发展最快的可再生能源体系，成为能源科技创新的引领者和策源地。 与此同时，我国坚定推动开放合作，构建起能源绿色低碳转型共赢的新模式。"十年来，我国始终是全 球能源转型的重要贡献者和可靠伙伴。"王宏志介绍，我国已与100多个国家和地区进行绿色能源项目合 作，助力全球风电和光伏发电项目平均度电成本分别下降60%和80%。我国生产的风电光伏产品，仅过 去一年就为全球减少二氧化碳排放约26.5亿吨，为全球绿色低碳转型作出重大贡献。 新华财经苏州10月24日电（记者安娜）我国坚定推动绿色发展。国家能源局局长王宏志24日表示，目 前，我国风光发电合计装机规模占全球风光发电总装机的近一半，新增装机规模占到全球的六成，可再 生能源发电装机占比提升至60%左右 ...

Core Viewpoint - The "Zero Carbon Mission International Climate Summit 2025" aims to gather insights and strategies to address climate change, supporting China's carbon neutrality vision and global emission reduction goals [1]. Group 1: Current Climate Situation - The global atmospheric CO2 concentration is projected to reach its highest level in history by 2024, a level not seen for 3 to 5 million years [5]. - A report from over 230 countries and 160 scientists indicates that mass coral reef die-off has become the first breached climate tipping point, marking a new phase in the climate crisis [5]. Group 2: China's Green Transition Achievements - China has made significant progress in low-carbon transition, with solar power generation increasing 35 times and wind power generation increasing 9 times over the past decade [6]. - China has established the world's largest and fastest-growing renewable energy system, achieving an annual power generation exceeding 10 trillion kilowatt-hours [6]. - The success of China's green transition is attributed to the synergy of goals, policies, and market mechanisms, serving as a model for developing countries [6]. Group 3: Significance of 2025 - The year 2025 is highlighted as a pivotal year, marking the 10th anniversary of the Paris Agreement and the 5th anniversary of China's carbon peak and neutrality goals [7]. - New self-contribution targets from China indicate a comprehensive shift towards a cleaner, safer, and more efficient low-carbon energy system [7]. - The summit also reflects on the achievements in clean energy development and the collaborative efforts over the past five years, setting the stage for future cooperation [7].

Core Viewpoint - The integration of hydropower and renewable energy development is a significant trend in the energy sector, aiming to optimize energy structures and reduce reliance on fossil fuels for various countries [2]. Group 1: Renewable Energy Development - The global energy transition investment faces challenges of insufficient total investment and uneven regional distribution [2]. - In 2024, China's clean energy investment is projected to reach $625 billion, accounting for one-third of the global total [2]. - China has maintained the largest installed capacity for photovoltaic and wind power for ten consecutive years [2]. Group 2: Cost Efficiency and Global Impact - China's strong clean energy manufacturing capabilities have significantly improved the economic viability of global clean energy projects [2]. - Over the past decade, the average cost of electricity generated from wind and photovoltaic projects has decreased by 60% and 80%, respectively, accelerating the deployment of renewable energy worldwide [2]. Group 3: International Cooperation and Project Collaboration - China is enhancing international technological cooperation in hydrogen energy, energy storage, nuclear power, and smart energy [3]. - The Belt and Road Initiative has facilitated green energy project cooperation with over 100 countries, with a significant focus on renewable energy generation projects [3]. - Numerous landmark green energy projects have been implemented, contributing to energy security and optimization of energy structures in partner countries [3].

Group 1 - The core viewpoint emphasizes the importance of integrated development of hydropower and renewable energy, particularly in the Yarlung Tsangpo River basin, as a viable option for optimizing energy structures and reducing reliance on fossil fuels in various countries [1] - China is projected to invest $625 billion in clean energy in 2024, accounting for one-third of global investment, with solar and wind power capacity leading the world for ten consecutive years [1] - Over the past decade, China has significantly reduced the average levelized cost of electricity for global wind and solar projects by 60% and 80% respectively, enhancing the economic viability of renewable energy projects worldwide [1] Group 2 - China is actively enhancing international technological cooperation in hydrogen energy, energy storage, nuclear power, and smart energy, promoting its advanced energy technologies and standards globally [2] - Under the Belt and Road Initiative, Chinese enterprises have collaborated with over 100 countries and regions on green energy projects, with a significant focus on renewable energy generation, contributing to energy security and optimization of energy structures in those regions [2] - A number of landmark green energy projects have been implemented, demonstrating China's commitment to providing replicable solutions for developing countries [2]

Core Insights - The European Commission has approved Greece's sixth funding request under the Recovery and Resilience Facility (RRF), amounting to €2.44 billion [1] - Greece has successfully met 32 milestones and 7 targets as outlined in the Council's decision, receiving a positive assessment from the Commission [1] Funding Allocation - Key measures funded include the establishment of a legal framework for renewable hydrogen and sustainable biogas, and the creation of a national digital health record database [1] - Plans also include increasing the number of general practitioners and equipping 36,000 classrooms with interactive learning systems [1] Additional Initiatives - The funding will support the establishment of a new taxpayer information platform and the creation of a judicial police force [1] - Installation of 12,200 solar panels for homes and farms, and connecting business online cash register systems to the Independent Public Revenue Authority to streamline processes are also part of the plan [1]

Core Viewpoint - The Senegalese government aims to make informed decisions in the energy sector based on reliable data and rigorous analysis, with a vision to create an efficient and resilient energy industry [1] Group 1: Government Initiatives - The Secretary General of the Ministry of Energy, Petroleum and Mining, Sheikh Niane, announced plans to develop the energy sector using reliable data and rigorous analysis [1] - Senegal is projected to reach an installed capacity of 1903.8 MW by 2024, with renewable energy accounting for 29.1% of this capacity [1] Group 2: Renewable Energy Insights - The National Renewable Energy Agency (ANER) Director, Diouma Kobal, highlighted that the proportion of green energy used by enterprises is low at only 6.7%, while fossil energy accounts for 93.3% [1] - The survey conducted is the first of its kind in the country, providing a detailed overview of the renewable energy sector from both enterprise and household perspectives [1] Group 3: Data Utilization - The Director of the National Statistics and Population Agency, Abdou Diouf, stated that the survey results will help better understand household electricity usage, installed capacity, and barriers to solar technology promotion [1] - The data collected will guide this year's work and provide a basis for strategic planning in the energy sector [1] Group 4: International Support - The UN Development Programme representative, Catherine Fang, praised the initiative, emphasizing its decisive role in mobilizing climate and private funding [1] - Access to clean, reliable, and affordable energy is identified as a core issue for the future economic and social development of Senegal [1]

2025 年 10 月 23 日 商 品 研 究 工业硅：仓单去化，盘面较抗跌 多晶硅：关注现货成交价格 张 航 投资咨询从业资格号：Z0018008 zhanghang2@gtht.com 泰 君 安 期 货 研 究 所 请务必阅读正文之后的免责条款部分 1 期货研究 工业硅、多晶硅基本面数据 | | | 指标名称 | T | T-1 | T-5 | T-22 | | --- | --- | --- | --- | --- | --- | --- | | | | Si2511收盘价（元/吨） Si2511成交量（手） | 8,485 | -20 | -85 | -260 | | | | | 105,522 | -83,120 | -119,546 | -198,321 | | | | Si2511持仓量（手） | 96,554 | -10,964 | -45,827 | -181,434 | | 工业硅、多晶硅期货市场 | | PS2511收盘价（元/吨） | 50,715 | 375 | 725 | - | | | | PS2511成交量（手） | 100,492 | -21,378 | -175,684 ...

Core Insights - China is undergoing a significant transformation in its energy production and consumption patterns, focusing on green energy initiatives as part of its "14th Five-Year Plan" [1][2] - The country has established itself as a global leader in renewable energy, generating over 10 trillion kilowatt-hours of electricity annually, accounting for one-third of the world's total [1][2] Group 1: Renewable Energy Development - The transformation of barren lands into vast solar power fields and the construction of large hydropower stations along the Yangtze River represent the largest clean energy corridor globally [2] - The "14th Five-Year Plan" has led to the establishment of nine major clean energy bases, with seven located in western regions, highlighting a strategic focus on renewable energy development in less populated areas [2] Group 2: Infrastructure and Energy Transmission - The construction of 19 ultra-high voltage transmission lines over the past five years has created a super network for electricity delivery, facilitating a 70% increase in clean energy transmission from the west to the east [2] - Renewable energy now supports one-fifth of the electricity demand in the eastern and central regions of China, showcasing the effectiveness of the new energy infrastructure [2] Group 3: Energy Storage Innovations - The introduction of new energy storage technologies, such as gravity storage and compressed air, has played a crucial role in managing peak electricity demand during the summer [2] - These innovations are referred to as "giant power banks," which have become essential for stabilizing the grid during peak times [2] Group 4: Achievements in Non-Fossil Energy Consumption - China has successfully met its target of achieving a 20% share of non-fossil energy consumption as outlined in the "14th Five-Year Plan," establishing the country as a leader in the global renewable energy sector [2]

Group 1 - The total express delivery volume in China reached 1.5 billion packages as of October 11, 2023, which is 37 days earlier than in 2024 and represents nearly 80% of the global express delivery volume in 2022 [2] - China's GDP grew by 5.2% year-on-year in the first three quarters of this year, with the total economic output expected to reach around 140 trillion yuan, and a projected economic increment of over 35 trillion yuan in five years [3] - The country has established the world's largest and fastest-growing renewable energy system, with one-third of electricity consumption being green electricity, making it one of the fastest countries in terms of energy intensity reduction [3] Group 2 - The "14th Five-Year Plan" emphasizes the importance of improving people's livelihoods, with 7 out of 20 major indicators directly related to the well-being of the populace [7] - The national cross-province medical treatment direct settlement system has benefited over 400 million people, and the proportion of migrant workers' children attending public schools or enjoying government-purchased school places has reached 97% [7] - The number of high-tech manufacturing enterprises has exceeded 500,000, with a year-on-year increase of 9.6% in the added value of high-tech manufacturing in the first three quarters [12] Group 3 - The ongoing reforms aim to deepen the socialist market economy, with measures to optimize the business environment and expand institutional openness, including the reduction of foreign investment restrictions [13][14] - The "14th Five-Year Plan" period has seen significant advancements in innovation, with a focus on integrating urban and rural industries and fostering high-quality employment [9][10] - The confidence in China's economic resilience is bolstered by the accumulation of innovative capabilities and the commitment to self-reliance in the face of external challenges [12][13]