Core Viewpoint - The article emphasizes the rapid development and promotion of hydrogen-based energy vessels in China, driven by national policies and initiatives aimed at environmental protection and sustainable development [3][4]. Group 1: National Policies and Initiatives - The "Beautiful Rivers and Lakes Protection and Construction Action Plan (2025-2027)" aims for a 40% completion rate of beautiful river and lake projects by 2027, with significant progress expected by 2030 and basic completion by 2035 [3]. - The plan specifically mentions the promotion of new energy vessels such as green alcohol, green ammonia, and green hydrogen, indicating a shift towards hydrogen-based energy solutions in the shipping industry [3]. Group 2: Industry Developments - The number of hydrogen-based energy vessel demonstration projects has been rapidly increasing, highlighting a growing trend in the industry [4]. - The Vice Premier's recent inspection of hydrogen energy vessels indicates strong governmental support and a strategic focus on the development of hydrogen energy in shipping [4]. Group 3: Upcoming Events and Forums - The upcoming Renewable Energy Hydrogen Industry Development Forum will take place on July 10-11, focusing on the current status and future trends of renewable energy hydrogen production [6][8]. - The forum will feature discussions on key technologies, including alkaline and PEM hydrogen production, and will provide a platform for industry professionals to exchange insights and foster collaboration [8][11].

Investment Rating - The report does not provide a specific investment rating for the industry [2] Core Insights - The report highlights the acceleration of the promotion and application of green alcohol, green ammonia, and green hydrogen in new energy vessels, as outlined in the "Beautiful Rivers and Lakes Protection and Construction Action Plan (2025-2027)" released by seven government departments [11][12] - The report emphasizes the importance of maintaining clean and tidy water bodies and shorelines, with a focus on enhancing the collection and transfer of wastewater and garbage at ports, docks, and along rivers and lakes [11] Summary by Sections Domestic Highlights - The report discusses the joint release of an action plan by seven departments aimed at promoting new energy vessels, specifically green alcohol, green ammonia, and green hydrogen [11] ESG Financial Products Tracking - As of May 24, 2025, a total of 3,531 ESG bonds have been issued in China, with a total outstanding amount of 5.62 trillion RMB, where green bonds account for the largest share at 58.77% [28] - In the past month, 48 ESG bonds were issued, amounting to 39.9 billion RMB, and in the past year, 931 ESG bonds were issued with a total amount of 1,054.3 billion RMB [28] - The report notes that there are currently 669 ESG products in the market, with a total net asset value of 824.23 billion RMB, where ESG strategy products represent the largest share at 46.65% [33] - The report also mentions that there are 790 ESG products in the banking wealth management sector, with pure ESG products making up the largest share at 61.77% [38] Index Tracking - As of May 24, 2025, major ESG indices have outperformed the market, with the 300ESG leading with a slight increase of 0.02%, while the Wind All A Sustainable ESG index saw a decrease of 0.35% [39] - Over the past year, all major ESG indices have shown growth, with the 300ESG leading at an increase of 9.38% [39] Expert Opinions - Xu Sujiang, head of the research department at the China Foreign Exchange Trading Center, emphasizes the importance of the CGT (China-Europe Common Classification Directory) as a bridge connecting domestic and international green finance markets, suggesting a focus on improving the CGT standard system and enhancing the liquidity of CGT bonds [41] - Ouyang Liliang, Chief Investment Officer at AIA, discusses the integration of international standards with China's green finance goals, advocating for a dual-bottom-line investment approach that balances financial returns with emission reduction targets [41]

ESG Policies - The Ministry of Ecology and Environment, along with six other departments, has launched a plan to promote the application of new energy vessels such as green methanol, green ammonia, and green hydrogen from 2025 to 2027, emphasizing the importance of cleaning up ports and waterways [1] ESG Initiatives - China's first offshore CCUS project has been put into operation, capturing and storing CO2 while enhancing oil recovery at the Enping 15-1 platform, demonstrating a new model of carbon-driven oil recovery and carbon storage [2] - The State Forestry and Grassland Administration reported significant progress in biodiversity protection, with over 200 endangered species showing recovery and a record 5.059 million wintering waterbirds counted in 2024 [3] ESG Investment - As of March 31, 2025, Hong Kong's ESG fund management assets exceeded HKD 1 trillion, with 218 approved ESG funds and over USD 84 billion in green and sustainable debt issued in 2024, highlighting Hong Kong's strong position in the ESG financial market [4] ESG Actions - Shanxi Province has announced a full subsidy for hydrogen-powered trucks on highways from June 1, 2025, marking the ninth region in China to implement such a policy, promoting low-carbon transition in transportation [5]