S 上海现代服务业联合会 Shanghai Services Federation 荣续智库 基建行业ESG白皮书 摘要 基础设施是城市脉动的基石，更是经济发展的骨架，从纵横的交通路网到运转的能源管网，它无声支撑着每一个日常。 如今，"可持续"已成为基建行业的新命题，ESG是保障项目长效价值、抵御气候与政策风险的核心能力。 PREFACE ANALYST 前言 研究员 基础设施与我们的日常生活、经济活动紧密交织，是社会 杨帆 国际通用ESG高级分析师：SH703XFBA0491 运转的核心支撑。如今，这个行业正面临新的发展要求， 在高效履行交通、能源、通信等传统功能之外，还需更主 汤切云 CFAESG证书：0000000099910753 动地管控环境影响、践行社会责任、优化治理水平一一这正 是ESG（环境、社会和治理）理念的核心关切。 碳管理师：CHINAETSCM20240010155 对基建行业而言，聚焦ESG不仅是响应时代要求，更能切 实管理长期风险，比如应对气候变化引发的物理风险，以 张雷和 高级注册ESG分析师：24RZQLKC002561A 及政策调整带来的转型风险。同时，这也有助于赢得社区、 ...

Core Viewpoint - Jinan is advancing its transportation infrastructure as a key component of national development, focusing on building a comprehensive and efficient transportation network to support urban growth and enhance connectivity [2][3][4]. Group 1: Transportation Network Development - Jinan has established a "cross-shaped" high-speed rail network, with 20 operational railway lines totaling 835 kilometers, including 12 high-speed lines covering 446 kilometers, connecting to 366 cities nationwide [2][3]. - The city is enhancing its highway network, aiming for 915.6 kilometers of expressways by the end of 2025, with a focus on upgrading ordinary national and provincial roads [3]. - Jinan has made significant progress in constructing cross-river passages, increasing the total to 21, which has notably reduced commuting times across the Yellow River [3]. Group 2: Airport and Air Transport - The second phase of Jinan International Airport's expansion is underway, which will elevate its flight level to the highest 4F grade, accommodating 55 million passengers and 520,000 tons of cargo annually [4]. - The airport will feature three runways and a 760,000 square meter terminal, enhancing connectivity with a rapid transit system to the city center [4]. Group 3: Urban Transportation Improvements - During the 14th Five-Year Plan, Jinan has constructed or renovated 902 kilometers of urban roads, improving traffic flow and safety for residents [5]. - The city has implemented nine urban rail transit projects, with operational mileage exceeding 248 kilometers, marking the beginning of a "subway era" [5]. - Jinan has optimized its public transport services, launching 307 new or improved bus routes, achieving a 67.6% seamless connection rate with rail stations [6]. Group 4: Economic and Industrial Development - Jinan has initiated inland shipping projects, including the revival of the Xiao Qing River, with a navigation length of 23.34 kilometers expected to commence operations in February 2024 [8]. - The city has been recognized as a national comprehensive freight hub, with significant investments in infrastructure and logistics, totaling 14.75 billion yuan [8]. - Jinan has received continuous performance evaluations of grade A for three consecutive years, securing 1.8 billion yuan in central and provincial funding [8]. Group 5: Future Transportation Goals - Jinan's transportation strategy for the 15th Five-Year Plan includes 115 projects aimed at enhancing rail, road, and air transport, with a focus on integrating urban public transport systems [9][10]. - The city plans to implement a digital transformation in transportation infrastructure, exploring AI applications for various operational scenarios [10]. - Jinan aims to improve the overall transportation environment and safety standards, enhancing the quality of service and operational efficiency [10][11].

Core Insights - Jinan aims to become a national comprehensive transportation hub by advancing key transportation projects during the 14th Five-Year Plan period [1][2] Group 1: Railway Development - Jinan is constructing a "米" shaped high-speed rail network, with 20 operational railway lines totaling 835 kilometers, including 12 high-speed rail lines covering 446 kilometers [1] - Approximately 660 high-speed trains operate daily, connecting Jinan to 366 cities nationwide [1] Group 2: Highway Network Enhancement - The Jinan metropolitan area has established a primary framework for the "二环一联十六射" highway network, with plans to reach 915.6 kilometers of operational highways by the end of 2025 [1] - The highway network density and the proportion of dual six-lane roads are the highest in the province [1] Group 3: Urban Road and Airport Expansion - A total of 902 kilometers of urban roads have been newly constructed or renovated, with 86 projects completed, including major roads like Aoti West Road and Longding Avenue [2] - The second phase of Jinan International Airport's expansion is underway, aiming to achieve a maximum flight level of 4F and facilitate seamless "air-rail" transfers [2] Group 4: Urban Rail Transit Projects - Nine urban rail transit projects are planned during the 14th Five-Year Plan, with several lines already completed, resulting in a total operational length of over 248 kilometers [2] Group 5: Inland Waterway Development - Jinan has developed inland waterway transport, completing the Xiaoqing River restoration and constructing Jinan Port and Zhangqiu Port, providing low-cost, high-capacity transport options for bulk goods [2] Group 6: National Recognition and Investment - Jinan was selected as one of the first national comprehensive freight hub cities, with 27 key projects underway and a total investment of 14.75 billion yuan planned for the implementation period from 2022 to 2024 [2] - The city has received A-level performance evaluations for three consecutive years and has secured 1.8 billion yuan in central and provincial funding, being the only city among the first 15 to receive full funding for three years [2]

Core Insights - China's urban rail transit system leads the world with an operational mileage of approximately 11,000 kilometers, facilitating efficient commuting for about 100 million people daily [1] - The "2025 China Major Cities Commuting Monitoring Report" highlights the relationship between transportation and residents' happiness across 45 cities [1] Group 1: Commuting Trends - Over the past five years, commuting distances have increased, with the proportion of commutes within 45 minutes rising to an average of 77% by the end of 2024, up 1 percentage point from 2020 [2] - Cities like Shenzhen (81%), and Wenzhou (91%) represent the highest levels of efficient commuting, while cities like Hefei and Xuzhou saw declines in this metric [2][3] - The commuting radius has expanded by 1-3 kilometers in 43 cities, with Beijing, Shanghai, and Chongqing having the largest commuting radius at 42 kilometers [4] Group 2: Commuting Distance and Happiness - The average commuting distance in major cities is 9.6 kilometers, with Beijing having the longest at 11.6 kilometers, indicating significant commuting challenges [11][13] - The proportion of "happy commuting" within 5 kilometers has reached 52% across major cities, with Wenzhou being the "happiest city" at 66% [7][8] - Despite improvements in short-distance commuting, the proportion of commutes exceeding 60 minutes has increased in 32 major cities [8] Group 3: City Comparisons - Beijing's commuting challenges are highlighted by a 57% rate of commutes within 45 minutes, the lowest in the country, and a 29% rate of commutes over 60 minutes, the highest [11][14] - In contrast, Shenzhen boasts an 81% rate of commutes within 45 minutes, the highest among major cities, and a low commuting distance of 7.9 kilometers [14][15] Group 4: Intercity Commuting - Approximately 400 million people commute across cities daily, with the Guangdong-Hong Kong-Macau Greater Bay Area accounting for 25% of this total [16][19] - Cities like Dongguan, Foshan, and Shenzhen form the largest commuting circles, while Xi'an also shows significant intercity commuting activity [19][21] - The report indicates that 10% of intercity commuting occurs between city centers, with an average distance of 52.6 kilometers and an average commuting time of 153 minutes [22]

Core Viewpoint - The transportation system in Shandong province is set to fully implement the directives from the provincial government and the Ministry of Transport by 2025, aiming to establish a strong transportation demonstration zone and complete all annual task objectives. Group 1: Infrastructure Development - The comprehensive transportation network is continuously improving, with a total investment of 248.4 billion yuan in transportation from January to November. By the end of the year, high-speed rail mileage will reach 3,055 kilometers, and highway mileage will exceed 9,300 kilometers [1] - The province will have 10 transport airports, with the completion of Zaozhuang Airport and the operational use of Linyi Airport terminal. Additionally, the number of coastal port berths of 10,000 tons or more will increase to 396, ranking second in the country, with a cargo throughput exceeding 2.1 billion tons, maintaining the top position nationally [1] - The inland port cargo throughput will surpass 150 million tons, and urban rail transit mileage will reach 578 kilometers with the completion of five new lines, including the Jinan Urban Rail Transit Line 4 [1] Group 2: Service Industry Performance - In the first three quarters, the added value of transportation, warehousing, and postal industries in the province grew by 7.7%, exceeding the national average by 1.9 percentage points and contributing 5.8% to the provincial GDP [1] - The number of newly established large-scale transportation service enterprises reached 201, ranking second among all service industry categories [1] Group 3: Logistics and Public Satisfaction - The logistics costs as a percentage of GDP are expected to decrease by 0.3 percentage points to 13.8%, with transportation costs reduced by approximately 15 billion yuan. The number of foreign trade container routes has increased by 19, totaling 271, maintaining the highest number among northern ports in China [2] - The implementation of pilot projects for efficient service has led to a reduction of six steps and 25 days in processing times for 13 trial items. Additionally, 5,100 kilometers of rural roads have been newly constructed or renovated, and 3,300 kilometers of tourism roads have been built, connecting over 190 scenic spots [2]

Core Insights - The overall operation of China's transportation economy has been stable and progressing, achieving annual targets successfully [2] - The focus for the upcoming "15th Five-Year Plan" includes enhancing transportation services to promote consumption and expand domestic demand [4][5] Investment and Economic Performance - Transportation fixed asset investment is expected to exceed 3.6 trillion yuan, maintaining a high level of operation [2] - The total volume of freight is projected to surpass 580 million tons, with a year-on-year growth of approximately 3.5% [2] - Port foreign trade container throughput has increased by about 9.6%, while international air freight has grown by 20% [2] - The total social cross-regional personnel flow is expected to exceed 66 billion person-times [2] Infrastructure Development - Over the past five years, the national comprehensive three-dimensional transportation network has been largely completed, connecting over 80% of county-level administrative regions [3] - Key urban agglomerations have achieved two-hour connectivity between major cities [3] - Significant infrastructure projects completed during the "14th Five-Year Plan" include the Shenzhen-Zhongshan Bridge and the Beijing-Harbin Expressway [7] Safety and Efficiency - The number of railway traffic accidents has decreased by 18.4% year-on-year, while accidents in the road and waterway sectors have dropped by 25.8% [2] - The modernization of transportation infrastructure is expected to enhance operational efficiency and safety [7] Consumer Services and Market Growth - The cruise passenger transport volume reached 1.265 million, a year-on-year increase of 27.8% [4] - The small and micro car rental market is projected to grow at an annual rate of 15% during the "15th Five-Year Plan" [4] - The development of self-driving tourism routes is anticipated to create new growth points in the integration of transportation and tourism [5] Equipment Upgrades - The transportation sector is accelerating the replacement of old equipment, with over 450 new locomotives introduced and 11.4 million old buses and batteries updated [8] - The focus on green and intelligent transportation equipment is expected to significantly enhance service capabilities [7][8]

Core Insights - Shandong province is implementing a comprehensive transportation system during the "14th Five-Year Plan" period, with a focus on building a modern and high-quality transportation network to support economic growth and development [2][3]. Investment and Infrastructure Development - The total transportation investment in Shandong is expected to reach 1.47 trillion yuan, representing an over 80% increase compared to the "13th Five-Year Plan" [3]. - The high-speed rail network will expand from 2,110 kilometers to 3,055 kilometers, making it the largest in the country [3]. - The total length of highways will increase by 10,000 kilometers, reaching 297,000 kilometers, with highway density ranking first in the country (excluding municipalities) [3]. - Over 30 new highway projects will be completed, adding 1,800 kilometers to the total, which will exceed 9,300 kilometers, with more than 1,596 kilometers of eight-lane highways, also ranking first nationally [3]. Port and Waterway Development - Shandong is enhancing its coastal port integration, adding 56 new berths of 10,000 tons or more, totaling 396, with 30 berths of 200,000 tons or more, leading the nation [3]. - The annual cargo throughput of coastal ports is expected to exceed 2.1 billion tons, a 24% increase from 2020, maintaining the top position in the country for four consecutive years [4]. - The inland river ports will see an annual throughput of over 150 million tons, a 160% increase from 2020 [4]. Logistics and Transportation Efficiency - By 2025, the social logistics cost as a percentage of GDP is projected to decrease by 0.7 percentage points from 2020, reaching 13.8%, with cumulative transportation cost reductions of 57 billion yuan [4]. - The railway and waterway freight turnover is expected to double compared to 2020, exceeding the "14th Five-Year Plan" target by more than five times [4]. Smart and Green Transportation Initiatives - Shandong is advancing smart and green transportation, with the construction of 600 kilometers of smart highways and 28 smart terminals [4]. - The total installed capacity of photovoltaic power generation along highways is 833 megawatts, ranking first in the country [4]. - The province has established the first national pilot base for artificial intelligence applications in transportation [4]. Rural Transportation Development - Over 120 billion yuan has been invested in rural road development, with 42,000 kilometers of rural roads newly constructed or renovated, surpassing the "14th Five-Year Plan" goals [5]. - The rural road network has reached 267,000 kilometers, significantly improving travel conditions for farmers [5]. High-Speed Road Construction - Shandong Highway Group has invested approximately 359 billion yuan in highway construction during the "14th Five-Year Plan," 1.8 times the total investment of the "13th Five-Year Plan" [6]. - The province has established the first "smart highway" pilot project combining renovation and expansion, as well as the first zero-carbon smart highway and service area in the country [6].

Core Insights - The report highlights the progress of urban rail transit construction and operation in China during the "14th Five-Year Plan" period, with significant expansions in both the number of cities and operational mileage [1][17]. Group 1: Urban Rail Expansion - From the end of 2020 to November 2023, 10 new cities have opened urban rail transit, adding nearly 100 lines and over 3,500 kilometers of operational mileage [1][17]. - Notably, several county-level cities, such as Haining, Kunshan, and Jurong, have entered the urban rail scene, which has drawn attention from larger cities that missed out on this development [4][21]. Group 2: Mileage Rankings - As of November 2023, a total of 54 cities have operational urban rail transit, with Beijing, Shanghai, Guangzhou, Chengdu, and Shenzhen leading in mileage, each exceeding 600 kilometers [4][22]. - The ranking of operational mileage has seen a shift, with Xi'an surpassing Qingdao to claim the tenth position [4][22]. Group 3: Notable Increases in Mileage - Hangzhou and Guangzhou have recorded over 200 kilometers of mileage increase, with Guangzhou expected to surpass Hangzhou by the end of the year due to the opening of additional lines [8][26]. - Jinan is projected to significantly increase its operational mileage to 248 kilometers by the end of the year, potentially surpassing several other cities [8][26]. Group 4: Emerging Players and Trends - Foshan has made a remarkable leap in rankings, moving from 43rd to 23rd place, surpassing several provincial capitals [12][30]. - The trend indicates a tightening of approvals for new urban rail projects during the "14th Five-Year Plan," with a shift in focus towards existing line efficiency and passenger flow metrics [12][30][34]. Group 5: Future Considerations - The emphasis is shifting from rapid network expansion to improving operational efficiency and sustainability in urban rail systems [16][35].

Core Insights - The Beijing Municipal Government held a press conference on September 15, highlighting the achievements in economic and social development during the 14th Five-Year Plan period [1] Transportation Development - The city has added 152 kilometers of urban rail transit and 95 new stations over the past five years [1] - The integration of public transport with rail transit has improved, with a 90% transfer rate within 50 meters of stations [1] - A total of 352 dedicated bus lines have been introduced for school, medical, and tourism purposes [1] Traffic Management - To address traffic congestion, the city has implemented a "car-city interaction and dual intelligence integration" strategy, enhancing smart transportation technology [1] - The average non-stop passing rate at traffic signals within the Fifth Ring Road and urban sub-centers is 76.7%, with all traffic lights now interconnected [1]

Core Insights - The article highlights the significant progress in green transportation in China, with over 200 million daily users opting for eco-friendly travel methods [1] - The number of daily commuters using rail transit and buses has reached 100 million each, while 24 million choose shared bicycles, indicating a shift towards sustainable travel options [1] Transportation Development - As of the end of 2024, China has 658,000 urban public buses, with 544,000 being new energy buses, accounting for 82.7% of the total [1] - The total length of urban public transport routes has reached 1.75 million kilometers, and urban rail transit mileage is approximately 11,000 kilometers, ranking first in the world [1] - The targets set in the 14th Five-Year Plan regarding public transport share and the proportion of new energy vehicles in urban buses have been exceeded [1] Future Initiatives - Relevant departments will continue to increase investment in public transportation, aiming to enhance urban traffic efficiency and service levels [1] - There will be a strong emphasis on promoting the concepts of green and civilized travel [1]