新浪财经ESG评级中心提供包括资讯、报告、培训、咨询等在内的14项ESG服务，助力上市 公司传播ESG理念，提升ESG可持续发展表现。点击查看【 ESG评级中心服务手册】 6月27日上午，中国气象局召开例行新闻发布会，正式发布《中国气候变化蓝皮书（2025）》。该蓝皮 书从大气圈、水圈、冰冻圈和生物圈等方面，以翔实的监测数据，系统反映全球和中国气候变化的新事 实、新趋势，以期为国家和区域气候变化科学评估、应对战略与适应行动等提供有力的基础数据与信息 支撑。 该蓝皮书指出，气候系统变暖趋势在持续；20世纪90年代以来，全球海洋变暖、海平面上升、冰川消融 显著加速。中国是全球气候变化的敏感区和影响显著区，增暖速率高于同期全球平均水平，极端天气气 候事件趋多、趋强。2024年，中国年平均气温、天山乌鲁木齐河源1号冰川消融损失量、中国沿海海平 面等监测指标均创下新高。 6月23日， 中国植被覆盖整体稳定增加，呈现持续变绿趋势。2000～2024年，中国年平均归一化植被指数 （NDVI）呈显著的上升趋势；2024年中国平均NDVI为0.358，较2001～2020年平均值增长8.2%。 中国代表性植物春季物候期呈提前趋 ...

该报告的领衔专家、生态文明贵阳国际论坛咨询委员会中方召集人潘家华认为，生态文明理念已成为全 球共识，希望报告对推进全球生态文明整体转型发挥重要价值。 新浪财经ESG评级中心提供包括资讯、报告、培训、咨询等在内的14项ESG服务，助力上市 公司传播ESG理念，提升ESG可持续发展表现。点击查看【 ESG评级中心服务手册】 7月6日，《全球生态文明转型发展报告2025：人与自然和谐共生的范式转换》在贵州省贵阳市发布。 该报告是2025生态文明贵阳国际论坛的旗舰成果，旨在为全球生态文明转型提供科学路径。 该报告系统梳理了联合国成立80年来转型发展的进程和特点、生态文明作为相对于农耕文明和工业文明 的社会文明形态的理念特征、全球转轨零碳对于生态文明建设的重要意义，以及基于自然的解决方案等 生态文明的实践路径。 报告分成六个章节：第一章系统梳理生态文明发展的历史演进脉络，回答生态文明从哪儿来的问题。第 二章对生态文明的范式表征进行深度解析，并从十个维度与工业文明进行了对比，回答生态文明是什么 的问题。第三章从能源基础的角度，分析生态文明如何通过零碳能源变革突破工业文明发展范式的困 境。第四章全面介绍如何通过基于自然的解 ...

第三届中国国际供应链促进博览会即将于明天在北京开幕，目前，展台搭建等准备工作已全面完成。 第三届链博会将从16日到20日在中国国际展览中心顺义馆举办。 本届链博会共设置先进制造、绿色农业、数字科技、健康生活、智能汽车、清洁能源六大链条和供应链服务展区，目前布展工作已全部完成。 共有651家中外企业和机构参展 本届链博会共有651家中外企业和机构参展，涉及75个国家、地区和国际组织，其中世界500强和行业龙头企业占比超过65%，境外参展商占比达35%。其 中，美国参展商数量较上届增长15%。连同参展商带来的500多家产业链上下游合作伙伴，实际参展商将达到1200家。170多家境外机构将组团来华观展洽 谈。 首设创新链专区 首次举办"链博首发站" 第三届链博会将首次设置创新链专区，首次举办"链博首发站"新品发布活动，首次发布各链条和展区可视化产业图谱等。 中国贸促会副会长 李兴乾：这一次链博会集中展示科技创新引领产业创新的实践成果，既有很多企业用新科技在赋能传统产业转型升级，又有新兴产业、 未来企业的进展和成果的展示。 将连续第三年发布《全球供应链促进报告》 本届链博会还将连续第三年发布《全球供应链促进报告》，同 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) is focused on enhancing the inclusiveness and adaptability of its systems, promoting the demonstration effect of the Sci-Tech Innovation Board, and implementing further reforms through the "1+6" policy measures to support innovative enterprises and diversify equity financing [1][2]. Group 1: Policy Measures - The CSRC will continue to leverage the Sci-Tech Innovation Board as a "testing ground" for reforms, introducing a new growth layer and restarting the listing of unprofitable companies under the fifth standard, targeting high-quality tech firms with significant breakthroughs and ongoing R&D investments [3]. - Six new reform measures will be introduced on the Sci-Tech Innovation Board, including the introduction of seasoned professional institutional investors, a pre-IPO review mechanism for quality tech firms, and expanding the fifth standard to cover more frontier technology sectors [3]. Group 2: Financing and Investment - The CSRC aims to strengthen the synergy between equity and debt financing for technological innovation by promoting the development of Sci-Tech bonds and optimizing issuance and trading systems [4]. - The commission will support technology companies in utilizing new asset types, such as intellectual property and data assets, for asset securitization and REITs financing [4]. Group 3: Long-term Capital Development - The CSRC is focused on nurturing patient and long-term capital by addressing bottlenecks in private equity fund operations and encouraging participation from social security funds, insurance capital, and industrial capital [5]. - Initiatives will include the establishment of a specialized technology company in Shanghai to enhance asset management services and improve investment and risk management capabilities [5]. Group 4: Support for Technology Companies - The CSRC will enhance regulatory frameworks for listed companies, focusing on mergers and acquisitions and major asset restructuring to improve operational performance and core competitiveness [5]. - Strict enforcement against illegal activities such as insider trading and market manipulation will be prioritized to protect the rights of small investors [5]. Group 5: Market Openness - The CSRC plans to accelerate the implementation of key measures for capital market openness by optimizing the Qualified Foreign Institutional Investor (QFII) system and expanding the range of products available for foreign investment [6]. - Collaborative efforts with the People's Bank of China will aim to introduce RMB foreign exchange futures to help manage exchange rate risks for financial institutions and enterprises [6].

Group 1: Capital Market Focus on Technology Innovation - The capital market is increasingly focused on supporting technological innovation and the development of new productive forces, with regulatory bodies guiding capital towards cutting-edge technology sectors through institutional innovation [1] - As of June 25, 50 companies have listed on the A-share market this year, a year-on-year increase of 19.05%, raising a total of 37.125 billion yuan, which is a 22.72% increase compared to the previous year [1] - The majority of the newly listed companies are in strategic emerging industries, particularly in new-generation information technology, new materials, new energy vehicles, and high-end equipment manufacturing [1] Group 2: Support for Quality Sci-Tech Enterprises - The China Securities Regulatory Commission (CSRC) has issued implementation opinions to enhance financial services for technology enterprises throughout their lifecycle, including support for quality tech companies to go public [2] - As of June 25, 80 companies' listing applications have been accepted this year, with 53 applications received in June alone [2] - The CSRC is set to deepen reforms with a focus on the Sci-Tech Innovation Board, including the reintroduction of listing standards for unprofitable companies [2][3] Group 3: Mergers and Acquisitions (M&A) Activity - The A-share M&A market has seen increased activity, with 1,833 M&A transactions disclosed this year, including 88 major asset restructurings, a year-on-year increase of 158.82% [5][6] - M&A is viewed as a pathway for companies to quickly acquire scarce technology and market resources, facilitating industry upgrades and valuation reconstruction [6][7] - The CSRC has introduced measures to support M&A, including a simplified review process and encouraging private equity funds to participate [6][7] Group 4: Expansion of Sci-Tech Bonds - The issuance of sci-tech bonds has accelerated, with 792 bonds issued this year, totaling 960.948 billion yuan, and a significant increase of 547.04% since the launch of the "technology board" [8][9] - The introduction of sci-tech bond ETFs is expected to attract various funds to invest in key technology sectors, broadening financing sources for tech companies [8][9] - The regulatory framework is evolving to support asset securitization and REITs in the technology sector, aiming to enhance the financing landscape for innovative enterprises [9]

科技创新需要金融"活水"的支持。 证监会主席吴清近日在陆家嘴论坛上表示，要进一步强化股债联动服务科技创新的优势。大力发展科创债，优化发行、交易制度安排，支持编制更多科技创新指 数、开发更多科创主题公募基金产品，引导更多中长期资金参与科技企业投资。 中信证券首席经济学家明明表示，针对科创债的政策支持力度显著加大，增信机制降低了中小科技企业发债门槛，以长期限债券匹配研发周期，流动性支持措施增 强了二级市场吸引力，政策精准破解科创企业融资痛点，科创债也有望成为"科技—产业—金融"良性循环的核心枢纽。 "活水"加速流入科技创新领域 在政策支持加力与市场热度上涨的双重驱动下，债券市场正不断提升对科技创新支持的适配性。自5月7日中国人民银行与证监会联合发布《关于支持发行科技创新 债券有关事宜的公告》以来，科技创新债券发行工作快速推进。 Wind数据显示，5月7日至6月20日期间，已有223家发行主体发行了300只科创债，总规模达5021亿元。 "当前科创债成交流动性中枢有所上移，随着指数空间持续扩容与投资者参与度上升，成份券流动性有望提升。"该基金公司相关人士表示，科创债受到政策导向支 持，也为企业年金、保险、银行理财子 ...

Group 1 - The core viewpoint emphasizes the need for cultivating patient capital to bridge the funding gap and cycle mismatch in the integration of technological and industrial innovation [1][2] - The China Securities Regulatory Commission (CSRC) chairman highlighted the importance of long-term capital in supporting the sustainable growth of technology enterprises [1][4] - Private equity funds play a crucial role in nurturing patient capital, as they align with the growth patterns of technology innovation and cover the financing needs throughout the lifecycle of tech companies [1][2] Group 2 - Recent data shows that private equity and venture capital funds have invested in 90% of companies listed on the Sci-Tech Innovation Board and over half of those on the Growth Enterprise Market [2] - As of April 2025, there are nearly 20,000 private fund managers managing over 140,000 funds with a total scale of 20 trillion yuan [2] - The CSRC plans to focus on enhancing the fundraising, investment, management, and exit processes of private equity funds to attract more long-term capital [2][3] Group 3 - The development of technology innovation indices can provide a safety net and value anchor for patient capital by accurately selecting technology assets with long-term growth potential [3] - The introduction of public funds with technology attributes can transform fragmented and short-term market funds into long-term capital supporting technological innovation [3] - Since the launch of the "Eight Measures for the Sci-Tech Innovation Board," multiple technology innovation indices have been released, significantly contributing to attracting incremental capital into the market [3][4] Group 4 - The continuous nurturing of patient capital is essential for the growth of technology and industrial innovation, with expectations for improved policy environments and diversified funding sources [4] - The capital market is anticipated to accelerate the cultivation of patient and long-term capital to support the growth of technology enterprises and the rise of emerging industries [4]

Group 1 - The core viewpoint of the news is that the introduction of the third set of standards for the ChiNext board marks a significant milestone, allowing high-quality, unprofitable innovative companies to go public, thus optimizing their access to capital markets [1][2]. - The establishment of the Sci-Tech Growth Tier on the Sci-Tech Innovation Board aims to serve technology companies that have significant breakthroughs, broad commercial prospects, and substantial ongoing R&D investments, even if they are currently unprofitable [1][3]. - The continuous release of policy dividends has stimulated market enthusiasm for investing in technology assets, which have become the leading sector in the A-share market, reflecting investor confidence in the future development of technology companies [2][3]. Group 2 - The rise of technology assets in the A-share market is driving the transformation and high-quality development of the capital market, optimizing its structure and aligning it more closely with economic development trends [3][4]. - The integration of technology innovation and capital markets creates a mutually beneficial relationship, where capital markets provide funding and resources for technology innovation, while technology innovation brings new investment opportunities and growth momentum to capital markets [3].

一、推动科技创新和产业创新融合发展，需要更好发挥资本市场枢纽功能 习近平总书记深刻指出，科技创新和产业创新是发展新质生产力的基本路径。当 前，新一轮科技革命和产业变革加速演进，以人工智能、生物科技、量子技术、商业 航天等为代表的前沿技术蓬勃发展，全球科技创新进入密集活跃期。从我国看，在深 入实施创新驱动发展战略、加快构建现代化产业体系的引领下，科技创新正在从点状 突破向系统集成加快推进，技术突破向市场应用加快转化，诸多领域都迎来激动人心 的"DeepSeek时刻"，出现了一批生而全球化的新兴科技企业，境内境外都开花。这也 对加快构建与之相适配的金融服务体系提出了新的更高要求。这方面，我们还存在不 少短板弱项，主要体现在"三个不完善"：一是适应创新规律的资本形成机制不完善。 与科技创新"十年磨一剑"的坚守相比，我们的金融供给仍存在资金短期化、风险容忍 度低等问题，长期资本、耐心资本远远不够。二是满足科技企业全生命周期金融需求 的产品服务体系不完善。科技企业不仅需要融资，还需要市场资源整合、商业模式创 新、公司治理提升等服务，帮助科技成果加快转化，跨越"死亡之谷"。三是对创新的 激励约束机制不完善。如何健全人力资 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) Chairman Wu Qing emphasized the importance of developing more technology innovation indices and public funds focused on technology innovation to attract more medium- and long-term capital into technology enterprises [1] Group 1 - The CSRC supports the creation of additional technology innovation indices [1] - There is a push for the development of more public fund products themed around technology innovation [1] - The initiative aims to guide increased participation of medium- and long-term funds in technology enterprise investments [1]