当美国犹豫不决、欧洲举棋不定时，中国正凭借太阳能发电场、电池和电动汽车，全速迈向绿色未 来。贝伦气候峰会证明了：没有中国的硬件产品，世界将无法实现其气候目标。 如今，超过60%的电动汽车产自中国，超过70%的电池也在中国生产。曾经被嘲笑的比亚迪超越了 特斯拉，电池巨头宁德时代展示了"充电5分钟，续航520公里"的电池。中国电动汽车价格实惠，不仅得 益于技术优势，还归功于高效的组织结构：激烈的市场竞争、自动化生产以及从原材料到产品交付的垂 直整合模式，降低了生产成本。 那么，中国是如何成为全球绿色领导者的？中国在能源转型方面的飞跃并非偶然，而是过去数十年 经济快速增长的结果。中国将社会投资、灵活开放、严格规划与市场激励相结合，打造出一个兼具规 模、速度和方向的经济体。 先说说社会基础。从一开始，中国就投入大量资金用于教育、医疗和社会保障，培养出健康且受过 良好教育的大量劳动者。重要的是，工资水平与生产率同步增长，这既维护了社会稳定，又培育出庞大 而充满活力的国内市场。 在此基础上，基础设施和技术成为"加速器"。中国快速建成了铁路、公路、港口和能源网络。同 时，大规模投资研发，在科学出版物和专利数量上跃居世界前列 ...

An optimistic guide to the coming year in America 除了悲观，另有出路 总统在第一任期成功关闭了南部边境的非法移民通道后，开始推进"让美国再次伟大"（MAGA）移民政策的第二阶段。尽管特朗 普政府一直在收紧移民政策，但特朗普本人有时会对高技能移民表现出热情。第一任期内，他增加了季节性签证的农业工人数 量。如今，在解决了这一看似无解的问题后，他促成了一项两党移民协议，将庇护法改革与增加高技能移民、扩大临时工人签证 配额相结合。这惹恼了"让美国再次伟大"运动中的移民限制论者，但国会中的大多数共和党人，以及许多希望平息这一持续失利 议题的中间派民主党人，都支持总统。法案最终通过。副幕僚长斯蒂芬·米勒对此感到沮丧。 随着人工智能热潮持续，政府放宽了金融监管，并简化了新能源项目和输电线路的审批流程。太阳能发电量有所增加。即便是总 统向来不太待见的风能，也得益于更多投资和产能扩张。人工智能驱动的生产力提升迹象开始显现，印证了政府宽松监管政策的 合理性。白领就业危机得以推迟。其他经济方面的好消息是，关税稳定在高于总统上任前的水平，但恢复了一定的可预测性。最 高法院也发挥了作用 ...

西班牙首相佩德罗·桑切斯在媒体上放话，说欧洲要是继续这么搞军事扩张，到2035年整个大陆就得变 成个到处是武器的地儿。 这话是他在2025年11月9日接受西班牙《国家报》采访时说的，直接点名欧盟和北约的欧洲成员国正往 大规模军备竞赛的边上走，这样下去下一代人就得活在到处是恐惧的世界里。 桑切斯的意思很清楚，得靠外交来稳住局面，让欧洲十年后变成团结和法治的样板，而不是被军火堆满 的大陆。这番言论直戳欧盟内部那笔8000亿欧元的再武装计划，还顺带怼了美国总统唐纳德·特朗普要 欧洲把军费提到GDP5%的要求。桑切斯没躲着分歧，他直说西班牙不会趟这浑水，得用外交和合作来 搞定安全问题。 本来欧洲经济就停滞不前，还得翻倍军费，买一大堆美国的高价能源。桑切斯跟美国杠上，就是抓住了 根子，这也是默克尔当年对付特朗普的招，你撤军就撤，我反正不加军费。但现在欧盟不敢这么说了， 因为俄乌还在打。 那怎么整？西班牙的政策是，自保是自保，但别过头。不是说西班牙不发展军力，而是反对掏GDP 5% 去武装。俄罗斯的威胁摆在那，怎么办？靠外交呗。 西班牙2024年国防支出占GDP才1.3%，承诺到2029年到2%，但桑切斯说会兑现欧盟承诺 ...

Core Insights - The U.K. has rapidly developed its wind energy sector, becoming one of the largest producers of wind power globally, with expectations for substantial growth in the coming decades as the government invests in renewable energy and upgrades the national grid [1] Onshore Wind Power - The U.K. currently has approximately 15.7 GW of operational onshore wind power, with an increase of 739 MW expected in 2024 from projects like Viking (443 MW), Kype Muir Extension (67.2 MW), and Broken Cross (43.2 MW) [2] - A total of 77 onshore wind projects submitted for planning permission in 2024, a slight decrease from 83 in 2023 but significantly higher than 44 in 2022 [2] - The U.K. is projected to achieve 26 GW of onshore wind by 2030, which is 3.1 GW below the target set in the Clean Power 2030 Action Plan [3] - The wind industry currently employs around 55,000 people, with expectations to double to approximately 110,000 by the end of the decade [3] Offshore Wind Power - The U.K. has an operational offshore wind capacity of around 14.7 GW, with six projects under construction totaling 6.3 GW, three of which have a generating capacity of 2.5 GW expected to be completed by 2025 [4] - In 2024, there were 14 planning applications for offshore wind projects submitted, totaling a capacity of 15.4 GW, leading to a total offshore wind capacity pipeline of 22.85 GW [4] - The U.K.'s offshore wind capacity is expected to reach 41.5 GW by the end of 2030, including 1.2 GW of floating wind capacity [4] Electricity Generation - Wind energy was the largest source of electricity generation in the U.K. during Q4 2023 and Q1 2024, marking the longest period on record where renewable energy outperformed fossil fuels [5] - In Q1 2024, wind energy generation totaled 25.3 TWh, compared to 23.6 TWh from fossil fuels, contributing an average of 39.4% to total electricity production [5] Economic Impact - Wind power has significantly reduced consumer energy bills, with a study from University College London indicating that between 2010 and 2023, wind-generated energy decreased electricity bills by $18.7 billion and reduced natural gas costs by $175 billion [6] - Factoring in green subsidies of $56.8 billion paid by consumers, the total reduction in U.K. consumer energy bills over 13 years amounts to $137 billion [6]

Core Viewpoint - The U.S. clean energy industry is experiencing significant changes due to a combination of policy shifts and declining investments, reflecting structural challenges in the energy transition process [1][3]. Investment Decline - As of September this year, investments in the U.S. clean energy sector have decreased by over $24 billion, resulting in approximately 21,000 job losses, with $1.6 billion in projects canceled and nearly 3,000 jobs lost in September alone [3][5]. - The U.S. Department of Energy has terminated financial support for 223 energy projects, affecting 321 funding programs, with an estimated budget cut of $7.56 billion [3][5]. Project Delays and Cancellations - The clean energy sector is facing significant challenges, particularly in Republican-led districts, which have seen investment losses of $12.4 billion and a reduction of about 15,000 jobs [5]. - Major projects in states like Kansas, Michigan, North Carolina, and Tennessee have been canceled or delayed, exacerbating the funding challenges for small to medium-sized developers reliant on public funding [5]. Market Stagnation - Despite the investment decline, some companies are still seeking new growth opportunities, with $542 million announced for electric vehicle components and solar manufacturing, expected to create around 985 long-term jobs [6]. - However, this new investment is insufficient to counteract the overall downward trend, as the U.S. clean energy market shows stagnation in new capacity installations [6][7]. Policy Changes Impact - A series of administrative orders and new regulations have been implemented, notably the "Big and Beautiful" Act, which accelerates the reduction of tax credits for clean energy projects, moving the application deadline from 2032 to the end of 2027 [7]. - The second quarter saw only 11.6 GW of new wind, solar, and storage capacity added, a mere 1% increase year-on-year, with overall capacity down compared to the previous year [7]. Industry Consolidation - The clean energy sector is undergoing rapid consolidation, with merger and acquisition activity in the first half of the year reaching $34 billion across 63 deals, driven by subsidy reductions and tightening credit [10]. - Companies like Sunnova are facing financial difficulties, prompting strategic restructuring and asset sales, while private capital and large utility companies are increasingly involved in acquisitions [10]. International Investment Concerns - Policy uncertainty is affecting foreign investor confidence, with companies like Bil a Solar and Heliene pausing or reevaluating their projects in the U.S. [11]. - The growth rate of clean energy installations in leading states like California and Texas has slowed to 8%, with other states also falling below the national average [11].

Core Viewpoint - The Chinese government is actively promoting green trade to enhance trade optimization, support the achievement of carbon neutrality goals, and better serve global climate governance [1]. Group 1: Green Trade Implementation - The implementation opinions represent the first specialized policy document in the field of green trade, highlighting innovative leadership and focusing on existing weaknesses in China's green trade development [1]. - Key issues identified include the shortcomings in enterprises' green low-carbon development capabilities, the untapped carbon reduction potential in logistics, and the inadequacy of the supporting guarantee system [1]. Group 2: International Cooperation and Standards - Over 50 economies have positively responded to China's initiative on the "International Economic and Trade Cooperation Framework for Digital Economy and Green Development" [2]. - The recent China-ASEAN Free Trade Area 3.0 upgrade agreement includes a dedicated chapter on green economy and prioritizes green trade as a cooperation area [2]. - The Ministry of Commerce is working with relevant departments to improve green product standards, certification, and labeling systems, aiming for mutual recognition of standards with major trading partners [2]. Group 3: Green Product and Industry Development - The implementation opinions emphasize promoting green design and production among foreign trade enterprises [3]. - The Ministry of Industry and Information Technology plans to enhance the promotion of green design and manufacturing, focusing on the entire lifecycle from design to recycling [3]. - By 2030, the target is for the output value of green factories to account for 40% of total output, with initiatives to cultivate zero-carbon factories [3]. Group 4: Financial Support for Green Services - The People's Bank of China will promote the application of green finance and transition finance standards, supporting innovative financing methods [4]. - Financial institutions are encouraged to increase support for production service sectors related to research and design, logistics, carbon emission certification, and resource recycling [4].

Core Viewpoint - The implementation opinions on expanding green trade aim to promote trade optimization and upgrade, assist in achieving the "dual carbon" goals, and better serve global climate governance [1] Group 1: Green Trade Development - Green low-carbon products are becoming a new driving force for foreign trade development, with global market size for electric vehicles, solar energy, and wind energy expected to reach $2.1 trillion by 2030, five times the current scale [1] - The implementation opinions are the first specialized policy document in the field of green trade, focusing on weak links in China's green trade development, such as corporate low-carbon development capabilities and logistics carbon reduction potential [1][2] - The opinions propose measures to create a favorable international environment for green trade, including strengthening international communication and promoting the formulation and mutual recognition of relevant standards [1][2] Group 2: Green Product Standards and Certification - The Ministry of Commerce is working with relevant departments to improve green product standards, certification, and labeling systems, and accelerate standard mutual recognition with major trading partners [2] - The focus will be on expanding certification from products to industrial and supply chains, and establishing a strict and transparent regulatory mechanism for green product certification [2][3] Group 3: Green Design and Manufacturing - The implementation opinions encourage foreign trade enterprises to adopt green design and production, with a focus on lightweight, non-toxic, long-lasting, and recyclable design concepts [3] - By 2030, the output value of green factories is expected to account for 40% of total output, with initiatives to cultivate zero-carbon factories [3] - The development of green supply chains will be promoted, with large enterprises playing a leading role in increasing the proportion of green factories among suppliers [3] Group 4: Financial Support for Green Services Trade - The People's Bank of China will promote the application of green finance and transition finance standards, supporting innovative financing methods for green service trade [4] - Financial institutions are encouraged to increase financing support for production service links such as research and design, logistics operations, and carbon emission certification [4]

Core Viewpoint - The Chinese government is actively promoting green trade to optimize trade structures, support the "dual carbon" goals, and enhance global climate governance, as outlined in the newly issued "Implementation Opinions" by the Ministry of Commerce [1][4]. Group 1: Green Trade Development - The "Implementation Opinions" is the first specialized policy document in the field of green trade, focusing on addressing weaknesses in China's green trade development, such as the lack of corporate low-carbon development capabilities and incomplete support systems [1][4]. - China aims to strengthen international cooperation and actively participate in the formulation of global green trade rules and standards, promoting a fair and inclusive global governance system for green trade [3][4]. Group 2: International Cooperation and Agreements - China is committed to incorporating trade and environmental content into existing free trade agreements (FTAs), with recent agreements including a dedicated chapter on green economy in the upgraded China-ASEAN FTA [4][5]. - The country is also advancing negotiations with Switzerland, South Korea, and Peru to include environmental protection and green industry cooperation in their FTAs [5]. Group 3: Trends in Green Trade - China's foreign trade is increasingly shifting towards green development, with significant growth in exports of green low-carbon products. For instance, wind turbine exports grew over 30% in the first three quarters of the year, and electric vehicle exports surpassed 2 million units last year [6][10]. - The global market for electric vehicles and related technologies is projected to reach $2.1 trillion by 2030, five times its current size, indicating a robust market outlook for green products [6]. Group 4: Supply Chain Upgrades - The green transition is leading to comprehensive upgrades in China's foreign trade supply chain, with companies integrating green principles into product design, production processes, and logistics [7][8][9]. - There is a notable shift from merely selling products to providing integrated solutions, as demonstrated by Chinese companies offering complete energy-efficient construction solutions and public transport systems abroad [10]. Group 5: Future Outlook - The Chinese government plans to continue aligning with global green low-carbon development trends, enhancing its capacity to serve global green trade and sharing the benefits of low-carbon achievements with the world [11].

Core Insights - The Chinese government is accelerating the development of green trade, as highlighted in the recent implementation opinions issued by the Ministry of Commerce [1] Group 1: Green Trade Development - Green low-carbon products are becoming a new driving force for foreign trade, with global market size for electric vehicles, solar, and wind energy expected to reach $2.1 trillion by 2030, five times the current scale [3] - In the first three quarters of this year, exports of wind power generators and components grew by over 30%, while photovoltaic products have maintained export values exceeding 200 billion yuan for four consecutive years [3] - Electric vehicle exports surpassed 2 million units last year, with strong growth in green transportation tools like electric locomotives and motorcycles [3] Group 2: Supply Chain Upgrades - The green low-carbon development of China's foreign trade is evident in both product upgrades and deep transformations across the entire supply chain [4] - 47% of new products showcased at the 138th Canton Fair incorporated green design concepts, reflecting a shift in R&D towards sustainability [4] - Companies are innovating in production by using recycled materials, such as ocean waste fishing nets for swimwear, and adopting clean energy vehicles for logistics, reducing carbon emissions [4] Group 3: Integrated Solutions - The focus is shifting from merely selling products to providing integrated solutions that include technology, services, and management [4] - Chinese companies are exporting green low-carbon building materials to Saudi Arabia, offering comprehensive energy-saving design and construction solutions [4] - In Tanzania, Chinese firms are providing complete rapid transit solutions, including new energy buses, enhancing urban commuting efficiency [4] Group 4: Regional Performance - Local exports of green products are also performing well, with Shandong's exports of photovoltaic products, lithium batteries, and electric vehicles totaling 10.4 billion yuan in the first three quarters, a year-on-year increase of 29.6% [5] - In September alone, exports reached 1.2 billion yuan, marking a growth of 46.7% [5]

Core Viewpoint - The Chinese government emphasizes the importance of green low-carbon products as a new driving force for foreign trade development, with significant growth potential in the global market for electric vehicles, solar energy, and wind energy by 2030 [1] Group 1: Market Potential - International institutions predict that by 2030, the global market size for electric vehicles, solar energy, wind energy, and related technologies will reach $2.1 trillion, which is five times the current scale [1]