Core Viewpoint - Green development is a prominent feature of Chinese modernization, with the government emphasizing the acceleration of comprehensive green transformation in economic and social development [2] Group 1: Green Financial Services - China Bank aims to be the preferred bank for green financial services, continuously expanding its "Green Finance+" global brand influence and maintaining a leading position in green finance for several years [2] - The bank has developed a comprehensive system of green financial products and services, receiving multiple awards from international financial media for its outstanding performance in green finance [2] Group 2: Innovation in Green Financial Products - China Bank focuses on high-quality development by promoting the transformation and upgrading of economic, energy, and industrial structures, significantly advancing green low-carbon industries [3] - In the energy sector, the bank is innovating its financial product service system, directing credit resources towards clean energy projects, and has tailored financial solutions for significant carbon reduction technologies like Carbon Capture, Utilization, and Storage (CCUS) [3] - The bank has approved a credit of 240 million yuan for a carbon capture project that will capture 1.5 million tons of CO2 annually, equivalent to the environmental effect of planting nearly 13 million trees [3] Group 3: Support for New Energy Vehicles - China Bank has launched an innovative financial service model in Anhui Province for the entire new energy vehicle industry chain, covering various financial products and services [4] - The bank has established a database of over 4,600 new energy vehicle enterprises, with new credit business exceeding 7 billion yuan, supporting the high-quality development of the industry [4] Group 4: Green Transformation Financing - The bank has introduced various innovative financial services, including "Green Transformation Upgrade Loans" and preferential green mortgage insurance for certified green buildings [5] - As of September 2025, the bank's green loan balance exceeded 4.66 trillion yuan, a year-on-year increase of 20.11%, and it ranks among the top in underwriting domestic green bond issuance [5] Group 5: Biodiversity and ESG Integration - China Bank has initiated ESG-linked loans to support ecological restoration and biodiversity protection, establishing a new model for integrating finance with environmental protection [6] - The bank has incorporated ESG risk management into its comprehensive risk management system, enhancing its commitment to environmental protection and sustainable development [6] Group 6: International Cooperation in Green Finance - China Bank is deepening international cooperation in green finance, actively participating in global green governance and contributing to the establishment of green and ESG-related standards [8] - The bank has supported significant international projects, including refinancing for offshore wind power projects and financing solutions for copper industry groups, demonstrating its commitment to global low-carbon transition [9]

Group 1 - The Beijing Stock Exchange (BSE) has achieved significant milestones in its four years of operation, with 274 quality small and medium-sized enterprises (SMEs) listed and a total market capitalization exceeding 900 billion yuan [1][2] - The BSE has established a multi-tiered capital market system, facilitating the growth of innovative SMEs through various listing standards, including provisions for unprofitable companies [2][3] - The BSE has implemented measures to enhance the quality of information disclosure among listed companies, which is crucial for investor decision-making [4][5] Group 2 - The BSE has seen a substantial increase in liquidity, with an average daily trading volume reaching approximately 29.15 billion yuan, nearly quadrupling from the previous year [5][6] - The introduction of the "North Certificate 50 Index" and the "North Certificate Specialized and Innovative Index" marks the BSE's entry into a dual-index investment era, attracting more institutional investors [6][7] - The BSE aims to further enhance its attractiveness and competitiveness by optimizing listing standards and encouraging long-term capital inflows from various institutional investors [8][9]

证券研究报告·北交所报告·北交所定期报告 ◼ 【数据】中国移动通信联合会区块链与数据要素专业委员会现面向全国 征集"RWA 生态合作伙伴"。将在生态合作伙伴中遴选 20 家单位成立 "RWA 联合实验室"，从数据资源整合、技术研发、资金配套等方面 全方位赋能，推动 RWA 与数据要素的协同创新。 RWA 生态合作伙伴 需是面向全国从事资产数字化、数据要素融合应用、技术研发、交易流 通及服务支持的企事业单位，需具备 RWA 与数据要素协同发展的能力 或场景。此前上海数交所已推动落地我国农业领域首个 RWA 项目"马 陆葡萄"，将种植生产数据上链，完成 1000 万元融资。我们认为数据 产品化是数据资产化、资本化的基础，目前海外和国内均已有前沿落地 案例，建议关注高质量数据集建设。 北交所定期报告 20250629 市场交投活跃，看好北证 50 温和上涨趋势 2025 年 06 月 29 日 行业重要新闻： ◼ 北交所首单科技创新绿色公司债券成功发行。2025 年 6 月 25 日，中交 一公局集团有限公司在北京证券交易所（以下简称北交所）公开发行北 交所首单科技创新绿色短期公司债券。本期债券由中信证券担任牵头主 ...