在政策保障方面，广东构建"法律+金融"的制度体系，为海洋经济绿色低碳发展提供助力。2025年5月28 日通过的《广东省促进海洋经济高质量发展条例》，提出"推动深远海海上风电技术创新和示范应用， 探索漂浮式海上风电项目开发建设，鼓励海上风电向深远海拓展""探索推进海洋生态系统碳汇价值转 化"，为海洋能源、海洋碳汇高质量发展提供了法治保障。在金融创新方面，2022年5月，在中国农业银 行与中国银行发行了中集集团（000039）的蓝色债券，成为粤港澳大湾区首单蓝色债券，用于支持中国 沿海海域海上风电项目；2023年9月，平安财险在深圳设立了全国首单红树林碳汇指数保险。 广东以经济社会绿色低碳高质量发展为战略导向，通过系统推进能源技术创新、生态价值实现机制创新 及金融与法治政策创新等举措，实现了多个"首次"和"第一"，构建起蓝绿统筹的发展新范式。未来，海 洋能源产业、海洋碳汇保护修复等将成为广东省经济社会发展的新增长点，相关方应主动借鉴国际经 验，制定推广海上风电并网标准、海洋碳汇核算方法等规则，加快海洋领域技术研发，将蓝绿统筹作为 经济增长的推动器。 在能源领域，广东将海洋视为"立体能源库"，依托丰富的海上风力、光 ...

自2021年10月份我国离岸人民币地方债首发以来，地方债"走出去"在持续发力。据《证券日报》记者不 完全统计，今年以来截至目前，已有多地在香港特别行政区、澳门特别行政区成功发行离岸人民币地方 债，发行规模已达到125亿元。 投资者认购踊跃 9月23日，"深圳财政"微信公众号发布消息称，日前深圳市政府在香港特别行政区成功发行2025年离岸 人民币地方政府债券。这是深圳市连续第五年安排地方政府债券在香港簿记发行、登记托管并挂牌上 市，持续推进粤港澳大湾区金融市场互联互通。本次发行债券规模为40亿元人民币，发行期限为2年 期、5年期、10年期，发行利率逐年下降。 除在香港连续发债外，深圳在今年9月9日还首次在澳门特别行政区成功发行10亿元离岸人民币地方政府 债券。 另据了解，广东、海南两地今年也已成功发行离岸人民币地方债。其中，8月26日，广东省政府在澳门 成功发行25亿元离岸人民币地方债，是广东连续第5年安排地方政府债券在澳门本地簿记发行、登记托 管并上市交易；9月12日，海南省2025年离岸人民币地方政府债券在香港完成簿记定价并发行，发行规 模50亿元人民币。 在明明看来，离岸人民币地方债的资金投向，不仅涵盖了 ...

Core Viewpoint - China's green finance has become a global leader in scale, with green credit balance exceeding 40 trillion yuan and annual green bond issuance surpassing 400 billion yuan, yet its international influence does not match its market size [1] Group 1: Transition from Scale Narrative to Rule Narrative - The international communication of China's green finance has primarily focused on scale data, which, while showcasing size, fails to address the core of sustainability [2] - The release of the "Green Finance Support Project Directory (2025 Edition)" in July 2025 marks China's shift from a standard follower to a standard setter, adding 12 new green project categories and refining technical standards [2] - The narrative transformation should emphasize the four pillars of green standards, information disclosure, incentive mechanisms, and product innovation, establishing a dual recognition system that mandates measurable, reportable, and verifiable environmental benefits [2] Group 2: Transition from Grand Narrative to Micro Narrative - Macro data reflects participation but lacks emotional resonance; the vitality of green finance lies in the tangible benefits of specific projects and market entities [3] - Micro narratives can be illustrated through concrete cases, such as China Postal Savings Bank's "transformation loan," which supports high-energy-consuming enterprises with an average yield of 4.2%, breaking the misconception of a conflict between environmental protection and profitability [3] - Local practices like Fujian's "tea garden loan" and Shenzhen's "blue bond" demonstrate how green finance translates abstract policies into tangible entities, highlighting its role in transformation, rural revitalization, and improving livelihoods [3] Group 3: Integrating Eastern and Western Civilizational Narratives - China's green finance system is rooted in traditional ecological wisdom, which serves as a core advantage in international communication [4] - The "bamboo forest carbon sink" practice in Zhejiang exemplifies how local cultural concepts can be transformed into real value through carbon trading platforms and "carbon sink loans," demonstrating the synergy between ecology and economy [4] - Incorporating a civilizational perspective can enhance international understanding; for instance, linking green standards to traditional texts can foster resonance with local philosophies [4] Group 4: Building a Multi-Entity, Cross-Linguistic Narrative Ecology - To transition from "scale leadership" to "narrative leadership," a multi-entity collaborative and cross-linguistic narrative ecology system is necessary [5] - The existence of terminology discrepancies in international green finance, such as the interchangeable use of "transformation finance" and "sustainable finance," hampers precise communication [5] - Establishing a national multilingual terminology database and cultivating three types of "green finance spokespersons" can enhance the effectiveness of narrative dissemination [5] Conclusion - The innovation of China's green finance narrative is crucial for international discourse power and global sustainable development, transforming Chinese practices into comprehensible and replicable solutions [6] - This approach not only enhances the country's financial soft power but also provides a new path for "ecological priority and green development" globally [6]

转自：新华财经 海南省政府9月12日在香港成功发行50亿元人民币债券，包括3年期25亿元可持续发展债券、5年期15亿 元蓝色债券及10年期10亿元地方政府首单航天主题债券，债券将在香港联合交易所上市。交通银行海南 省分行联动香港分行第四年入选海南省政府离岸债券发行承销团，并担任联席全球协调人、联席账簿管 理人及财务代理人等重要角色。 这是海南省第四次在香港发行离岸人民币地方政府债券，募集资金主要投向海洋保护、民生保障以及航 天领域相关重点科研和基础设施项目，将继续使用交通银行香港分行在海南省分行开立的海南自贸港多 功能自由贸易账户（EF账户）进行债券资金交收。 本次发行获得投资人的高度关注和踊跃认购，峰值订单规模达228亿元，认购倍数超4.5倍。3、5、10年 期债券的最终价格指引较初始价格指引分别大幅收窄47、52及50个基点，并定价在1.73%、1.83%及 2.10%。 发行前，交通银行于8月24日至26日牵头举办了投资者来琼非交易路演活动，助力宣传海南省信用亮点 及自贸港特色。发行中，交通银行连续第四年给予基石投资，承销份额位列全球协调人首位。同时，交 通银行澳门分行通过EF账户参与投资，进一步创新拓 ...

Core Viewpoint - The issuance of 5 billion RMB offshore local government bonds by Hainan Province in Hong Kong reflects strong international investor confidence in the Hainan Free Trade Port's credit strength and development prospects, especially with the upcoming full island closure operation [3][4][5]. Group A: Development Prospects - The bond issuance coincides with a significant milestone for Hainan's Free Trade Port, as the full island closure operation is set to officially start on December 18, marking a phase of deeper reform and higher-level opening [4][5]. - The bond issuance attracted widespread attention, with peak orders reaching nearly 23 billion RMB, indicating strong investor interest [3][4]. Group B: Key Industries - The bonds include a first-of-its-kind aerospace-themed bond, with a total issuance of 1 billion RMB, aimed at funding marine protection, livelihood security, and key research and infrastructure projects in the aerospace sector [4][11]. - The successful launch of a satellite from Hainan's commercial spaceport has also drawn interest from international investors, showcasing the province's potential in high-tech industries [9][10]. Group C: Investment Environment - Hainan is the first provincial government in mainland China to issue offshore RMB bonds in Hong Kong, marking a significant step in aligning with international capital market standards [12][14]. - The bonds are included in the Hong Kong Monetary Authority's list of eligible collateral, enhancing their attractiveness to global investors [15]. - The province has established a robust debt repayment guarantee mechanism, ensuring that funds raised are effectively utilized for economic and social benefits [13].

Core Viewpoint - The cooperation between Hainan Free Trade Port and Hong Kong is deepening, presenting broader prospects for mutual development and economic integration [2][3][6]. Group 1: Events and Initiatives - A promotional event titled "Hainan-Hong Kong Cooperation, Mutual Benefit and Win-Win" was held in Hong Kong, showcasing Hainan's achievements and policies in its Free Trade Port development [2][4]. - Twelve projects were signed during the event, covering various sectors such as culture, tourism, technology, and food processing [2]. - Hainan's offshore RMB local government bond roadshow attracted participation from 46 financial institutions across seven countries and regions [2][6]. Group 2: Economic Significance - Hainan is recognized as the only Chinese-style Free Trade Port, aiming to become a significant gateway for China's new era of opening up [3][6]. - Hong Kong serves as a major source of foreign investment for Hainan, accounting for over 70% of the actual foreign capital used in Hainan [6]. - From January to July this year, Hong Kong established 382 new enterprises in Hainan, marking a 7.3% increase year-on-year, with actual utilized Hong Kong capital reaching 11.872 billion yuan, a 99.3% increase [6]. Group 3: Policy and Future Outlook - Hainan's policies, such as zero tariffs and simplified tax systems, are seen as attractive to businesses, encouraging further investment and collaboration [4][5]. - The establishment of the Hainan-Hong Kong Economic Cooperation Development Advisory Committee aims to enhance collaboration in various fields, including trade, finance, and tourism [6]. - The upcoming full island closure operation of Hainan Free Trade Port on December 18 is expected to mark a significant milestone in its development and attract more international investment [7][8].

海南连续第四年在港发行离岸人民币地方政府债券 推出中国地方政府首单航天主题债券 九月十一日，海南省在香港发行离岸人民币地方政府债券路演顺利完成，图为现场参会的投资人代表进 行提问。海南日报全媒体记者 封烁 摄 据悉，此次海南省预计在香港簿记建档发行不超过50亿元离岸人民币地方政府债券，其中包括中国地方 政府首单航天主题债券。发行期限为3年、5年和10年，其中3年期为可持续发展债券、5年期为蓝色债券、10 年期为航天主题债券。募集资金主要投向海洋保护、民生保障以及航天领域相关重点科研和基础设施项目。 此批债券已被香港金融管理局纳入人民币流动资金安排的合资格抵押品名单，且债券的利息及处置债券 取得的收入将免征香港利得税，有力提升了债券对投资者的吸引力。 当前，海南自贸港建设已进入成型起势、即将全岛封关运作的新阶段。与会嘉宾对海南自贸港封关运作 纷纷寄予厚望，看好未来发展前景。 "今年是海南自贸港建设具有里程碑意义的一年，全岛封关运作将于12月18日正式启动，这既标志着海南 在全面深化改革和推进高水平开放方面取得了阶段性成果，也预示着海南马上将进入更全面开放的快速道、 释放更丰厚的政策红利。"陈维民说，海南省政府再 ...

在路演演示环节，海南省财政厅副厅长张雪向全球投资者重点介绍了海南自贸港建设阶段性成果、全岛 封关运作后的新变化新机遇等有关情况。 与会人士认为，海南连续第四年赴港发债，为境外投资者提供了优质投资选择，将抓住海南自贸港发展 新机遇，积极参与自贸港建设，共享发展红利。 新华社香港9月11日电（谢妞）海南省政府2025年境外债全球投资者路演会议11日在香港金融管理局举 行，这是海南省政府连续第四年在香港发行离岸人民币地方政府债券，共吸引7个国家和地区的46家金 融机构参与。 据悉，此次海南省预计在香港簿记建档发行不超过50亿元离岸人民币地方政府债券，其中包括中国地方 政府首单航天主题债券。发行期限为3年、5年和10年，其中3年期为可持续发展债券、5年期为蓝色债 券、10年期为航天主题债券。募集资金主要投向海洋保护、民生保障以及航天领域相关重点科研和基础 设施项目。 活动现场，香港特区政府财政司司长陈茂波致辞表示，热烈欢迎海南省以至全国的企业和项目来港、发 行债券、上市，以至设立财资中心或跨国供应链管理中心等，充分用好香港这个平台，壮大自身的发 展。 海南省委书记冯飞表示，海南十分重视与香港的合作。今年3月，海南与香 ...

Core Viewpoint - Guangdong Province will issue 2.5 billion RMB offshore local government bonds in Macau, marking the fifth consecutive year of bond issuance since 2021, with a focus on supporting the 15th National Games and promoting financial cooperation in the Greater Bay Area [2][3] Group 1 - The issuance includes special bonds for the National Games and blue bonds, aimed at enhancing Macau's bond market and supporting sustainable development [2] - The Financial Management Bureau of Macau welcomes this issuance, highlighting the central and Guangdong government's support for Macau's financial market development [2] - Over the past five years, Guangdong's continuous bond issuance has provided a stable project source for Macau's bond market, fostering local financial talent and improving market mechanisms [2] Group 2 - The new bond varieties will enrich the structure of Macau's bond market and enhance market vitality [3] - The diversification of bonds issued by Guangdong is expected to attract more sovereign nations, international organizations, and multinational companies to issue RMB bonds in Macau [3] - This initiative supports Macau's goal of becoming an offshore RMB bond issuance center and a platform for Sino-Portuguese financial cooperation, contributing to the national financial opening strategy [3]

Core Viewpoint - Guangdong Province is set to issue offshore RMB local government bonds in Macau, with a total issuance scale of 2.5 billion RMB, marking the fifth consecutive year of such issuances since 2021 [1] Group 1: Bond Issuance Details - The bond issuance will include various types such as thematic bonds for the Hengqin Guangdong-Macao Deep Cooperation Zone, green bonds, and for the first time, special bonds supporting the 15th National Games and blue bonds [1] - All bonds will be issued to professional investors, reflecting a strategic move to diversify the bond offerings in the Macau market [1] Group 2: Support and Significance - The issuance is supported by the Ministry of Finance and the Guangdong Provincial Government, highlighting their commitment to fostering Macau's bond market and promoting economic diversification [1] - The issuance of special bonds for the National Games underscores support for the first large-scale sports event jointly held by Guangdong, Hong Kong, and Macau, which is significant for the integration of the Greater Bay Area [1] Group 3: Environmental and Sustainable Focus - The continuous issuance of green bonds and the introduction of blue bonds aim to enrich the variety of bonds in Macau and encourage more issuers to participate in sustainable financing [1] - This initiative aligns with the goals of "carbon peak and carbon neutrality," promoting the development of green and sustainable financial markets in the Guangdong-Macao region [1]