Group 1: Urban Public Transportation Development - Green travel has become a lifestyle choice for many in both urban and rural areas, with China establishing the world's largest urban public bus and electric vehicle operation service system [1] - Beijing's public transportation system has 2,571 bus routes, including 50 dedicated lines, with a total of 25,000 buses, 88% of which are new energy and clean energy vehicles [3] - The dedicated line for the Beijing Children's Hospital has transported nearly 3 million passengers since its launch, providing a safe and convenient travel option for families [2] Group 2: National Transportation Statistics - By the end of 2024, there will be 80,100 public bus and electric vehicle operation lines across the country, with a total operational length of 1,752,600 kilometers and 658,100 public buses [3] - The proportion of green travel has reached over 70%, with a satisfaction rate for green travel services exceeding 80% [3] Group 3: Zero-Carbon Logistics Initiatives - The Jiaxing Port Wildcat Logistics Park is a key logistics node supporting port development, featuring hydrogen-powered trucks and electric vehicles, achieving 100% cleanliness in its operations [9][11] - The park is part of a national initiative to promote zero-carbon logistics, with projects including photovoltaic power generation and energy-efficient buildings [11] - The Ministry of Transport has launched 61 green low-carbon transportation pilot projects and 20 zero-carbon transportation facility pilot projects since the 14th Five-Year Plan [13] Group 4: Future Transportation Goals - The Ministry of Transport aims to continue promoting the optimization of transportation structure, enhance the green transportation infrastructure, and accelerate the formation of a sustainable transportation system [16] - By 2024, over 160,000 old operating freight vehicles will be scrapped and replaced with new energy city buses and power batteries [14]

彭博社 6 月 23 日文章，原题：对异常行为视而不见会对伦敦造成什么影响 伦敦每天都在变得更加混乱。 警方报告称，去年商店盗窃案同比增加50%以上，这一增幅远高于其他地区。而扒窃等盗窃行为也增加 了41%，手机就像随手可得的"低垂果实"一样被偷走。据伦敦交通局估算，逃票行为每年给公共交通系 统造成4亿英镑的损失，而真实数字可能远高于此。 外卖行业则涉嫌雇用非法移民，在专门收容无证移民的破旧旅馆，能看到一些可疑人员暗中招募这些人 去送外卖。送餐骑手的薪资低到他们不得不冒着危险高速骑行，因此造成事故频发，也因此他们大多戴 口罩遮脸。2023年4月的一次突击检查发现，42%的送餐骑手属非法务工，估计涉及至少10万人。 不过，这些犯罪数据只反映了伦敦乱象的一小部分。送餐骑手们骑着自行车高速穿行，经常在人行道上 疾驰，把行人惊得四散躲避。伦敦很多区域都弥漫着令人作呕的大麻味。 莫伊尼汉在那篇文章中提出的解决方案，是采取强有力的行动整治城市中的各种乱象。以鲁迪·朱利安 尼为首的一代纽约市长曾针对各种乱象进行严厉整治，最终在20世纪90年代至2000年初带来城市的复 兴，严重犯罪率和一般乱象双双下降，让中产阶级重返城市。 ...

Core Points - The Beijing Public Transport Group's maintenance division is implementing comprehensive vehicle safety measures during the high-temperature period coinciding with the 2025 high school entrance examination [1][2] - A specialized team has been formed to ensure vehicle safety, focusing on electric, gas, and older vehicles, with detailed inspections and cleaning operations to mitigate heat-related risks [1][2] - The company is enhancing its emergency response mechanisms by monitoring traffic congestion around examination sites and adjusting repair vehicle locations accordingly [2] Group 1 - The maintenance division is conducting thorough checks on critical vehicle components, including the braking system and exhaust emission devices, to ensure effective heat insulation and safety [2] - Continuous high-temperature response measures are being implemented, with a focus on key systems such as cooling systems and air conditioning to improve vehicle reliability and passenger comfort [2] - The company is organizing safety education and comprehensive inspections to reinforce safety awareness among employees, ensuring adherence to safety protocols during the examination period [3]

Core Viewpoint - The launch of the 2025 Hunan Province Energy Conservation Promotion Week aims to enhance public awareness and capabilities in energy conservation and carbon reduction, promoting a green and low-carbon lifestyle and production method [2]. Group 1: Achievements in Energy Conservation - Hunan Province has exceeded the national energy consumption intensity reduction targets for the 14th Five-Year Plan ahead of schedule, receiving national commendation for its performance in energy-saving goals [3]. - By the end of 2024, the installed capacity of renewable energy in Hunan is expected to reach 49.27 million kilowatts, accounting for 63.7% of the province's total power generation capacity [3]. - The province has cultivated 271 national-level green factories, 27 green parks, and 30 green supply chain management enterprises, with a green public transport ratio of 98% [3]. Group 2: Policy and Future Plans - In 2024, Hunan aims to secure 13.77 billion yuan in special national bonds for equipment updates and trade-in programs, promoting high-end, intelligent, and green development in industries [3]. - The province plans to focus on carbon emission control and is preparing for the 15th Five-Year Plan's energy-saving initiatives, ensuring robust energy support for high-quality development [4].

Group 1 - On June 20, Wuhan initiated customized bus services for the high school entrance examination, deploying 36 buses to ensure over 1,400 students arrive safely and on time at their exam locations [1] - The customized bus services were planned based on the principle of "one area, one plan; one school, one strategy," demonstrating a tailored approach to meet the specific needs of different schools [1][4] - The management and drivers of Wuhan Bus Company conducted thorough vehicle inspections early in the morning to ensure safety and reliability for the students [4] Group 2 - In the Jiangxia District, 14 customized buses transported over 400 students to the Jin Kou High School exam site, with drivers providing support and encouragement to the students [4] - The Wuhan Bus Company engaged in proactive communication with schools to understand travel needs, thereby reducing the number of transfers and minimizing the impact of rainy weather on students' journeys [4] - In Huangpi District, 22 customized buses were deployed to transport 990 students to various exam centers, with a focus on safety and punctuality [8] Group 3 - The bus company implemented a detailed work plan after receiving requests for customized transportation from schools, ensuring that experienced drivers were selected for the task [8] - To prepare for the rainy weather forecast during the exam period, the company conducted comprehensive maintenance checks on the 36 customized buses, focusing on critical components such as wipers, brakes, and lights [8]

以乘客的体验换取公交的发展空间，在采访鹰潭公交时，记者最大的感受莫过于此。 自2025年1月鹰潭网约公交正式上线滴滴出行平台以来，3个月的时间，年轻用户占比超70%，订单突破6万单，投诉率仅0.0016%，实现了"高效服 务"与"用户满意"的双向奔赴。我们常说公交高质量发展，践行"互联网+交通"的创新出行，鹰潭公交给行业呈现了一个最佳的范本。 在这其中，鹰潭公交做对了什么？日前，商用汽车新闻传媒奔赴江西省鹰潭市，深入探访网约公交成功的背后。 鹰潭公交成功蹚出一条路 公交式微、负"重"前行……想必是公交行业共同的感受，当前公交企业大部分面临入不敷出的现状，如何实现创新运营也就成为重中之重。 江西长运鹰潭公共交通有限公司（以下简称鹰潭公交）党委书记、董事长汪斌向商用汽车新闻记者描绘了这样一个场景：公交驾驶员现在呈现老龄化， 公交车的乘客也都是老年人，就是一个老驾驶员拉了一群老人在城市里面穿行，"这个场景不是我们公交人想看到的，年轻人都不坐公交车了"。 有句话是这样说的：一个行业最大的悲哀，就是年轻人不和你玩了。一方面是年轻人不坐公交车，另一方面是他们（包括学生、上班族等）的出行需求 却未得到满足，以鹰潭这个江西" ...

Group 1 - The Israeli Ministry of Transportation announced that public transportation in Israel will operate in a limited capacity [1] - Light rail services in Jerusalem and Tel Aviv will be completely suspended [1]

Core Insights - The "15th Five-Year Plan" for transportation in Lin'an includes the integration of "online booking" for buses, enhancing public transport options for group activities [2] - Following the opening of Metro Line 16, Lin'an's bus ridership has decreased by 50%, prompting the bus service to explore innovative development paths and diversify the "Bus+" model for sustainable growth [2] - Lin'an has over 200 rural bus routes, collaborating with China Post to offer a "passenger-cargo-mail" service, addressing logistics challenges in rural areas and enhancing the operational value of rural roads [2] - The "passenger-cargo" initiative on bus route 2705 has resulted in an average monthly delivery of over 1,000 packages [2] Service Innovations - Lin'an bus services have launched personalized and "small but beautiful" custom routes, including health, tourism, campus, and community lines, to improve accessibility [3] - The "cloud bus" service in Qingshan Lake Technology City allows users to book rides via a cloud platform, providing on-demand transport to metro stations [3] - The "Bus+Culture and Tourism" project has introduced 9 specialized tourist routes, transporting nearly 196,700 visitors since its inception [3] Operational Metrics - Lin'an bus company operates 237 routes, serving over 31.5 million citizens annually, with an annual revenue of approximately 60 million yuan [3] - Of the 60 million yuan in annual revenue, 24 million yuan is attributed to the "customized bus" services [3]

Group 1 - Damri, a state-owned transportation company in Indonesia, announced the introduction of 70 new electric buses from the Chinese brand Zhongtong to expand the eco-friendly fleet in Jakarta's public transport system [1] - The new electric buses are expected to contribute to Jakarta's goal of achieving zero emissions and enhancing the travel experience for citizens through improved comfort and operational efficiency [1] - The electric buses are equipped with large-capacity batteries that provide a range of 250 kilometers on a single charge and feature advanced technology systems to ensure performance and charging efficiency [1] Group 2 - Currently, Damri operates 116 electric buses within the TransJakarta service system and plans to add 200 more electric buses by the end of the year [1] - The introduction of electric buses will gradually replace traditional diesel buses, significantly reducing carbon emissions in the transportation sector, with each diesel bus emitting 1.5 to 2 tons of CO2 daily [1] - Jakarta's governor announced a plan to increase the number of electric buses in the TransJakarta system to 2,000 by 2029, addressing long-standing air quality issues caused by fossil fuel emissions in the transportation sector [2]

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report - In the context of a volatile bond market and a passive widening of credit spreads, investors should prioritize high - coupon assets for certain returns and prepare in advance for the spread compression market driven by the seasonal inflow of wealth management funds in July [1][5]. - The current core contradiction in the credit bond market is the co - existence of weakening allocation demand and a passive widening of spreads in a volatile environment. Investors should seize pricing deviation opportunities under the protection of coupon safety cushions [5]. - The volatile market pattern caused by the interplay of multiple factors will continue, providing tactical opportunities for layout during market adjustments [6]. - The coupon strategy is the optimal solution in a volatile market, and portfolios should be constructed in a stratified manner according to the characteristics of liabilities [7]. - Investors should "pre - position" for the seasonal spread compression market in July and seize structural opportunities in specific bond varieties [8]. 3. Summary by Relevant Catalog 3.1 Yield and Spread Overview 3.1.1 Yields and Changes of Each Tenor - Yields of various types of bonds at different tenors are presented, along with their weekly changes and historical percentiles. For example, the 0.5 - year Treasury yield is 1.41%, down 4.0bp from last week, with a historical percentile of 8.4% [14]. 3.1.2 Spreads and Changes of Each Tenor - Credit spreads of various types of bonds at different tenors are shown, including their weekly changes and historical percentiles. For instance, the 0.5 - year credit spread of public non - perpetual urban investment bonds is 25bp, up 2.1bp from last week, with a historical percentile of 12.7% [16]. 3.2 Yields and Spreads of Credit Bonds by Category (Hermite Algorithm) 3.2.1 Yields and Spreads of Urban Investment Bonds by Region - **Yields and Changes of Each Tenor**: Yields of public non - perpetual urban investment bonds in different provinces at key tenors, their weekly changes, and historical percentiles are provided. For example, the 0.5 - year yield of Anhui's public non - perpetual urban investment bonds is 1.77%, up 2.6bp from last week, with a historical percentile of 1.1% [19]. - **Spreads and Changes of Each Tenor**: Credit spreads of public non - perpetual urban investment bonds in different provinces at key tenors, their weekly changes, and historical percentiles are given. For example, the 0.5 - year credit spread of Anhui's public non - perpetual urban investment bonds is 30.41bp, up 4.6bp from last week, with a historical percentile of 7.2% [22]. - **Yields and Changes of Each Implied Rating**: Yields of public non - perpetual urban investment bonds in different provinces for each implied rating, their weekly changes, and historical percentiles are presented. For example, the AAA - rated yield of Anhui's public non - perpetual urban investment bonds is 1.80%, up 3.8bp from last week, with a historical percentile of 5.1% [26]. - **Spreads and Changes of Each Implied Rating**: Credit spreads of public non - perpetual urban investment bonds in different provinces for each implied rating, their weekly changes, and historical percentiles are shown. For example, the AAA - rated credit spread of Anhui's public non - perpetual urban investment bonds is 28.96bp, up 4.8bp from last week, with a historical percentile of 32.2% [31]. - **Yields and Changes of Each Administrative Level**: Yields of public non - perpetual urban investment bonds in different provinces at each administrative level, their weekly changes, and historical percentiles are provided. For example, the provincial - level yield of Anhui's public non - perpetual urban investment bonds is 1.80%, up 3.5bp from last week, with a historical percentile of 3.7% [35].