Group 1: Global Green Economy Development - The global green transition has entered a critical stage driven by innovation, focusing on sustainable development goals (SDGs) and global cooperation [1] - Future green bonds and SDGs bonds are expected to become important financial tools to achieve the UN's 2030 sustainable development agenda [1] - Emerging markets, particularly in Asia, Africa, and Latin America, are anticipated to become significant growth engines for China's green industry [1] Group 2: Carbon Market and Energy Transition - The expansion of the mandatory carbon market will create new growth points for enterprises by integrating various emission reduction costs and subjects into a unified management system [2] - The green low-carbon transition in the energy sector requires a multidisciplinary approach and tailored solutions for different projects and enterprises [2] - Artificial intelligence is emerging as a core engine driving the transformation of green energy and equipment manufacturing, enhancing efficiency and smart capabilities [2] Group 3: Zero Carbon Park Construction - The construction of zero carbon parks focuses on optimizing energy structure and improving energy efficiency through various steps, including energy supply and consumption accounting [3][4] - The core value of creating zero carbon parks lies in cost reduction and efficiency enhancement, which can improve economic benefits and brand image [4] - Zero carbon parks aim to foster green industries and create new economic growth drivers through technology development and industrial transformation [4]

Group 1: Global Green Transition - The global green transition has entered a critical stage driven by innovation, with discussions focusing on green economic innovation and global cooperation at the 2025 Service Trade Fair theme forum [1] - Future green bonds and SDGs bonds are expected to become crucial financial tools for achieving the UN's 2030 Sustainable Development Goals, with multilateral development banks playing a significant role in financing and technical assistance [2] Group 2: Emerging Markets and Green Industry - Emerging markets in Asia, Africa, and Latin America are becoming increasingly important growth engines for China's green industry, shifting from "product export" to "industry export" through local operations and technology licensing [3] - The competitive advantage in the green industry will transition from price advantage to value leadership, focusing on brand competitiveness, technological originality, and standard-setting [3] Group 3: Carbon Market and Business Growth - The expansion of the mandatory carbon market in China will create new business growth opportunities for enterprises by broadening market control and integrating various stakeholders into a unified management system [4] - The improvement of the carbon market is expected to foster rapid development in emerging fields such as carbon verification, monitoring, consulting, and finance [4] Group 4: Energy Sector Transformation - The green low-carbon transition in the energy sector is a multidisciplinary technical integration challenge, requiring tailored solutions for each project and strong project management capabilities [5] - Artificial intelligence is becoming a core driver for the transformation of green energy and equipment manufacturing, enhancing efficiency and enabling cost reduction and zero-carbon goals [6] Group 5: Zero Carbon Parks - The construction of zero-carbon parks focuses on optimizing energy structure and improving energy efficiency through various steps, including energy supply and consumption accounting, carbon emission assessment, and feasibility analysis [7] - The core value of creating zero-carbon parks is to achieve cost reduction and efficiency improvement, enhance brand image, and foster green industry development through technological innovation and industrial transformation [8]

Group 1 - The global green transition has entered a critical stage driven by innovation, with discussions focusing on green economic innovation and global cooperation to advance the UN's 2030 Sustainable Development Goals (SDGs) [2] - Green bonds and SDGs bonds are expected to become crucial financial tools for achieving the UN's 2030 SDGs, with multilateral development banks playing a significant role in providing long-term loans and technical assistance [3] - Emerging markets in Asia, Africa, and Latin America are becoming increasingly important growth engines for China's green industry, shifting from "product export" to "industry export" through local operations [4] Group 2 - The expansion of the mandatory carbon market in China is expected to create new business growth opportunities for enterprises by enhancing the market mechanism for carbon reduction [5] - The energy sector's green and low-carbon transition is a multidisciplinary challenge requiring tailored solutions for each project and strong project management capabilities [6] - Artificial intelligence is emerging as a core driver for the transformation of green energy and equipment manufacturing, enhancing efficiency and enabling cost reduction in green energy production [7] Group 3 - The construction of zero-carbon parks focuses on optimizing energy structures, requiring a comprehensive approach to energy supply and consumption, as well as production processes [8] - The primary value of creating zero-carbon parks is to achieve cost reduction and efficiency improvement, enhancing economic benefits through the large-scale application of renewable energy [9]

21世纪日本地方政府债券的可持续发展 －稳定地方政府主要财政资源筹集－ 作者：野村资本市场研究所 江夏 茜 要点 1. 21世纪日本的地方债市场在市场公募不断推进之下，受到了包括货币政策在内的金融市场整 体动向的影响。但由于日本地方债安全保障机制、地方债相关制度的演进以及各地方政府为稳妥化 解债务而采取的措施等努力下，地方债市场总体上保持了稳定的发展态势。 2. 在日本地方政府财政整顿和国家财政转移支付的支持下，地方财政尽管趋于僵化，但仍有所 改善。然而，日本地方财政的可持续发展在今后仍将面临诸多严峻挑战，如国家财政紧张和地方财 政运作困难等。 3. 假设日本地方债在今后仍然是地方政府重要的资金来源之一，那么能够从地方债市场稳定筹 集资金并维持该市场的可持续发展的重要性不言而喻。对此本文讨论的要点包括：（1）努力降低融 资成本；（2）进一步减少临时财政对策债；（3）有效管理偿债基金。 4. 特别是2001年度设定的临时财政对策债的发行额，自该制度实行以来首次在2025年度被设定 为零。从地方财政稳健的角度来看，虽然得到了肯定评价，但考虑到发行余额规模（2025年度末估 计约为42万亿日元），仍需进一步减少流量 ...