月度归档： 2025 年 12 月

Building a unified national carbon market and building a zero-carbon financial framework

Under the background of "double carbon" goal, finance plays a key role in carbon neutral transformation. Carbon market is the link between green finance and the realization of "double carbon" goal, and the construction of a unified national carbon trading market cannot be separated from financial support.

Recently, the "Opinions of the Central Committee of the Communist Party of China and the State Council on Accelerating the Construction of a National Unified Market" pointed out that "cultivating and developing a national unified ecological environment market." "Build a unified national trading market for carbon emission rights and water rights, and implement unified and standardized industry standards and trading supervision mechanisms."

How can green finance help achieve the goal of "double carbon"? What other standards and regulatory mechanisms need to be improved? In this regard, many insiders interviewed by 21st century business herald believe that the development of green finance still faces many challenges, including the need to unify the standard system of green finance, the need to further optimize the financing structure of green finance, the need to improve the infrastructure of the stock market of green finance, and the financial risks in the green transformation.

Recently, at the "2022 Tsinghua Wudaokou Global Financial Forum", Wang xin, director of the Research Bureau of the People’s Bank of China, said that financial support for ecological environment and green low-carbon transformation mainly involves six aspects, including improving relevant standard systems, improving accounting and information disclosure requirements, deepening the development of relevant financial instruments and markets, strengthening incentive and restraint mechanisms, strengthening international cooperation in financial support for ecological environment and low-carbon transformation, and preventing financial risks of climate change and biodiversity loss.

At the above-mentioned forum, Zhu Min, president of Tsinghua University National Finance Research Institute and former vice president of the International Monetary Fund, proposed to "build zero-carbon finance in China". Zhu Min believes that in the process of developing green finance to zero-carbon finance, a new financial model that fundamentally changes China’s economic structure and economic form is needed, and calls for the construction of a structural monetary policy consistent with carbon neutrality.

Under the tide of carbon neutrality, it is a great challenge to serve the real economy and carbon neutrality, and it is also an opportunity and a starting point for China to build a new China model financial system in the process of carbon neutrality. Vision china

Since 2016, the Bank of China has explored and formed a green financial system with green financial standard system, environmental information disclosure framework, green financial incentive and restraint mechanism, green financial products and services system and green financial international cooperation as its "five pillars" by giving full play to the "three functions" of financial support for green development.

However, in Zhu Min’s view, a new financial model that fundamentally changes our economic structure and economic ecology is needed to support the carbon neutrality of the whole economy from the narrow sense of environmental protection to the fundamental zero carbon.

Under the tide of carbon neutrality, it is a great challenge to serve the real economy and carbon neutrality, and it is also an opportunity and a starting point for China to build a new China model financial system in the process of carbon neutrality. Zhu Min believes that China’s financial industry should seize this opportunity and build its own zero-carbon financial system in the process of supporting the real economy.

Zhu Min further stated that the Bank of China should construct a structural monetary policy of China model consistent with carbon neutrality. That is to say, in the traditional macro-policy, we should accelerate the structural tools and policies of carbon neutrality, correct market mistakes through non-neutral price-based and quantitative monetary policies, correct the distortion of the relative price of the financial system, support the transformation of carbon neutrality, and maximize social utility.

In fact, the structural tools mentioned by Zhu Min have practical experience in China’s financial supervision. In 2021, the Bank of China launched a carbon emission reduction support tool and a special refinancing to support clean and efficient use of coal.

In addition, He Ping, vice president of Tsinghua University School of Economics and Management and head of the finance department, believes that to realize market-oriented green finance, a unified carbon market needs to be established, and all carbon-related things need to be priced uniformly. All enterprises that adopt green emission technologies, the gains from emission reduction should be directly reflected in the financing cost and the financial services and products they are using.

He Ping explained that green finance is a "market-oriented means" to achieve the goal of double carbon. From the definition of strict marketization, green financial products, including green loans and green bonds, are quasi-financial products at present, because the pricing inside is not market-oriented. He believes that this is the place where the green financial market needs to be improved most in the future.

As one of the "five pillars" of the central bank’s green financial system, green financial standards are the key link in the top-level design of green financial policy system, and the identification caliber of green projects is an important link in the formulation of green financial standards.

In recent years, China has continuously promoted the construction of green financial standard system.

In April 2021, the Central Bank of China, the National Development and Reform Commission and the China Securities Regulatory Commission jointly issued the Catalogue of Projects Supported by Green Bonds (2021 Edition), which came into effect on July 1, 2021, unifying the scope of supported projects and gradually realizing the convergence of domestic and international standards and norms, which is conducive to promoting the further development of green bonds.

In the same year, the People’s Bank of China also issued the first batch of green financial standards, including two industry standards, namely "Guide to Environmental Information Disclosure of Financial Institutions" and "Environmental equity finance Tool", which started the preparation of China’s green financial standards and filled the gaps in green financial industry standards in related fields.

However, the industry generally believes that under the existing green or sustainable financial system, the definition standards and disclosure requirements of green and sustainable finance are not clear enough.

"Financial institutions still cannot clearly identify the’ transformation’ activities in economic activities and high-carbon or’ brown’ activities." In an exclusive interview with 21st century business herald, Ma Jun, director of the Green Finance Committee of the Chinese Finance Association and president of the Beijing Institute of Green Finance and Sustainable Development, said that some financial institutions were "afraid" to provide financial services for the transformation activities due to the above reasons.

Ma Jun suggested that the regulatory authorities should take the lead in formulating a transitional financial framework, and give clear requirements and guidance in terms of transitional standards, disclosure requirements and incentives. He also put forward five elements that a transitional financial system should have: defining transitional activities; Clarify how to disclose transformation activities; Clarify the financial support tools for transformation; Incentive mechanism and ensuring fair transformation.

In addition, the investment and financing structure of China’s green finance needs to be improved. Recently, "China Investment Development Report (2022)" from China Jiantou pointed out that China is a country with indirect financing, and green credit accounts for 90% of the total scale of green financial products in China, and there is an imbalance in the development of green finance. It is necessary to establish a more diversified green financial system in the future.

Wind statistics show that among the new green financing in China from 2018 to 2020, green credit accounts for 90%, while green bonds and green equity financing account for 7% and 3% respectively. Whether in green financial projects and standards or products and services, green trust, green insurance and green financial leasing are still relatively few.

Zhang Zhiqian, director of China Jiantou Investment Research Institute, told 21st century business herald that compared with mature market countries, the proportion of green bonds in green financing in China is low, and there is still great room for development in the future.

Zhang Zhiqian further stated that to develop green finance and promote green economic transformation, it is necessary to establish a diversified green financial system, which is far from enough by the spontaneous power of the market and financial institutions alone, but also requires the financial industry regulatory authorities to actively play the role of macro-control and guidance.

Information disclosure of financial institutions is also regarded as the key to green finance by the industry.

"International competition has actually begun in the standard disclosure rules, because everyone realizes that this is the most important formulation of new global rules since the industrial revolution. Whoever occupies the commanding heights of the rules will occupy the future. This is also global competition, and at the same time, building a global capital market in the process supports the entire carbon-neutral transformation." Zhu Min said.

After five years’ efforts, TCFD has constructed a set of disclosure suggestions, including corporate strategy, corporate governance, risk management, indicators and objectives, and put forward a series of principles and suggestions on corporate disclosure in response to climate change and carbon-neutral transformation in many aspects. Now there are more than 2,600 response standards, which are ready to be implemented according to this standard, so disclosure is ahead.

Recently, the Task Force on Nature-Related Financial Disclosures (TNFD), initiated by the United Nations Development Programme (UNDP), the United Nations Environment Programme (UNEP), the World Wide Fund for Nature (WWF) and composed of 35 financial institutions and enterprises, has formulated and published the Nature-Related Financial Information Disclosure Framework (Beta).

Different from TNFD framework, TCFD only helps organizations to identify and report climate-related risks, excluding other risks in the natural environment such as biodiversity, while TNFD framework includes biological nature, water, soil and air, and mineral consumption related to other aspects of nature.

China’s Environmental Information Disclosure Guide for Financial Institutions clearly covers four types of institutions: commercial banks, asset management institutions, trust companies and insurance companies, and encourages financial institutions to disclose environmental information at least once a year. The Bank of China suggested that disclosure should be carried out according to the needs of green financial products, but did not mention the specific time of environmental information disclosure of financial institutions.

In recent years, China has carried out a series of pilot projects on environmental information disclosure of financial institutions, and achieved remarkable results. Some pilot areas have achieved full disclosure of environmental information of financial institutions within their jurisdiction.

For example, the pilot work of environmental information disclosure of financial institutions in Greater Bay Area, which was launched at the beginning of last year, made a qualitative and quantitative analysis report on the environmental-related governance structure, policy system, risks and opportunities, environmental impact of investment and financing activities, green financial innovation and other contents of 13 corporate banking institutions in eight cities in the region by compiling the Environmental Information Disclosure Report, which covered a large number of small and medium-sized financial institutions and accumulated effective experience for comprehensively promoting environmental information disclosure of financial institutions. In addition, by means of financial technology, Chongqing released the 2020 Climate and Environmental Information Disclosure Report of 71 financial institutions in 38 districts and counties through the Internet platform such as "Yangtze River Green Finance Big Data Integrated Service System". (Intern Cao Ying also contributed)

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Zhiji LS6 debuted at the Chengdu Auto Show, pre-sold 23-300,000, and orders exceeded 6,000 in 8 hours

After and LS7, Zhiji’s third model, LS6, was unveiled and opened for pre-sale. The pre-sale price was 23-300,000 yuan. According to the news given by the manufacturer, the order of 6000 vehicles was obtained after 8 hours of pre-sale, and the data is still rising. To be honest, the number of reservations during the auto show does not have absolute real significance, but compared with LS7, LS6 does have a price advantage. With the help of the accumulated branding impression, I think it will become the best-selling Zhiji model in the future.

The positioning is medium and large, with a body size of 4904/1988/1669mm and a wheelbase of 2950mm, and a more youthful backslide design is adopted, which makes the side of the body look more dynamic and smooth, and the connection between the roof and the body is also more natural. The bright black trim below also enhances the fullness of the side, and the wheel hub adopts a petal shape with new energy characteristics.

Although the body is more dynamic, the front face design of the Zhiji LS6 is still relatively restrained. The shape on both sides of the closed middle net only highlights some sports elements like a dragonfly, and the wide black heat dissipation port below does not have too many quirky designs. The headlight group continues the shape of the LS7, which I think is more unique but not radical enough. Overall, the front face of the Zhiji LS6 is a bit conservative compared to others.

In terms of interior design, the Zhiji LS6 also maintains a family-style design style, which is very similar. The Dalian screen can support height adjustment and provides a very personalized half-width steering wheel. However, the LS6 also has its own design adjustments, such as canceling the through-air conditioner trend, changing the bottom of the central control screen to a cup holder and wireless charging, and not providing the same large-size front windshield as the LS7. No configuration information for the Zhiji LS6 has been announced yet, but I think some of the technological configurations available on the L7 and LS7, such as A-pillar blind spot monitoring, should not be absent.

In terms of power, Zhiji LS6 will provide high and low power single motor and dual motor, of which the maximum power of a single motor is 231kW (low)/250kW (high); the maximum total power of the four-wheel drive version is 263kW (low)/280kW (high), of which the four-wheel drive high-power version has a peak torque of 800 Nm and a 100-kilometer acceleration time of 3.5 seconds.

In terms of battery life, the Zhiji LS6 comes from a global 800V dual platform, with a matching ternary, the maximum working voltage can reach 875V, the battery life is 200KM in 5 minutes of charging, 350KM in 10 minutes of charging, and 500KM in 15 minutes of charging. The data is amazing, but the actual performance and the anti-attenuation ability of the battery, we have reservations here, and we will share it with you after it is actually listed.

The port opens the Wan Li stream ｜ Jining ＂enters the market＂： a new force surging in the canal

　　Public Network Poster Journalist Wang Shuangai Correspondent Yao Wang Lu Guanyi Jining Report

　　In ancient China, waterway was the most commonly used long-distance transportation mode. Therefore, the long journey of sailing along the river has naturally become an opportunity for prosperity. Natural rivers shine brightly in the trade between business travelers, showing all kinds of ups and downs.

　　"Huairou Baishen, and the Qiao Yue River, allow Queen Wang Wei." Every river has a story flowing.

　　Especially the canal.

　　In 2021, the world-class "golden artery" of the Suez Canal was blocked by a "ship" of Ever Given. Although it took a week to get stranded and get out of trouble, no one seemed happy except the small excavator that fought alone. The 18,000 containers on board not only test how to save time and money as much as possible in the transportation process, but also face a series of "price increase" problems after the supply chain balance is broken.

　　According to rough statistics, more than 80% of the world’s trade activities are carried out by sea, and the international situation is slightly "nothing happens", so the pressure on maritime shipping naturally increases exponentially.

　　Inland river transportation and maritime transportation belong to waterway transportation.

　　China has a long coastline, numerous harbors, and a great river crossing the east and west. These natural rivers and lakesides are abundant in water, most of which are not frozen all year round, and most of the main navigable rivers are distributed in economically developed and densely populated areas. The unique resource advantages are very conducive to the establishment of estuary ports with economic value.

　　The Grand Canal runs through Weishan Lake. Chen Baocheng/photo

　　Counting the main inland shipping trunk lines in China, besides China’s "golden waterway" Yangtze River, South China’s water transport artery Pearl River, Heilongjiang and Songhua River, a Beijing-Hangzhou Grand Canal that makes up for China’s lack of north-south vertical natural waterway will surely occupy a place. If we want to focus on how to solve the structural contradiction of relatively low waterway transportation in domestic river sections, the section from Jining to Hangzhou in Shandong Province of the Beijing-Hangzhou Grand Canal is a typical case like a textbook.

　　With the help of the inland container shipping outlet of the Grand Canal, we firmly grasp the hope of urban transformation, and Jining, a city along the route, has the most say.

　　Resource-based cities, turning around on the spot

　　Jining is a typical resource-based city.

　　From the industrial point of view, Jining, with an annual output of 80 million tons of raw coal, is one of the 13 large-scale coal production bases and 7 coal chemical industrial bases planned and constructed by the state. For a long time, Jining’s coal industry has been dominant, and its shortcomings such as biased industrial structure, weak demand power, weak innovation drive and insufficient factor support have gradually become prominent. What is more predictable is that in the next two or three decades, Jining’s coal mines will gradually run out of resources.

　　How to transform resource-based cities? How to boost the social economy? Where should industrial workers closely related to coal go?

　　Holding more than 10,000 coal mine workers, Jining Energy Development Group "took the lead" and stood on the "gateway" of transformation. Although all the opportunities related to proper resettlement are worth grasping at present, Jining Energy Development Group has ushered in a real benefit: the establishment of Jining Port and Shipping Development Group.

　　Wang Chuanjun, Shipper of Liangshan Port Wharf/photo

　　In May 2020, Jining Port and Shipping Development Group, with Jining Energy as the main body, was formally established, with the goal of anchoring and building the largest inland river shipping center in the north. By the end of 2021, Jining Port and Shipping Development Group has successfully completed the integration of three ports: Sendamei Yuejin Port, Longgong Port and Taiping Port, highlighting the construction of three hundred million-ton port groups: Liangshan Port, Main City Port and Weishan Port.

　　Among them, Liangshan Port is on the Wari Railway and next to the Beijing-Hangzhou Canal, occupying the throat of transporting coal from the west to the east, absorbing high-quality coal resources from Shanxi, Shaanxi and Mongolia, connecting with East China and Central China along the canal, directly entering the hinterland of the Yangtze River, radiating Jiangsu, Zhejiang, Shanghai, Hubei, Chongqing and Hunan, and becoming an important port logistics hub connecting the western coal source areas and the Yangtze River Delta Economic Zone. At present, eight 2,000-ton berths, 100,000 TEU container terminals and the largest span steel structure coal storage shed in China have all been put into operation.

　　Longgong Port aims to build the largest intelligent container demonstration port in Jiangbei inland river, and an automatic control center will be built, which will improve the working efficiency by 80%.

　　Gathering production in Hong Kong and integrating production in Hong Kong.

　　From January to June, 2022, the operating income of Jining Energy Port and Shipping Plate was 15.656 billion yuan, 5.6 times that of the same period last year, the port throughput was 9.3201 million tons, up 57.52% year-on-year, and the container transportation was 20,700 TEUs, 11 times that of the same period last year.

　　Jining Energy Port Container Brand

　　Canal, container port and port logistics constitute the three key words of Jining’s "turning around on the spot". Even if it closes a "door" where the volume and price of the coal industry are rising, this resource-based city is trying to open another "window" for port and shipping logistics to upgrade.

　　Through combined transport of hot metal and water, the river reaches the sea.

　　"It should be that Heaven teaches to open the water, and there are no mountains in more than a thousand miles." Ever since Fu Cha, the king of Wu, dug a ditch and shoveled the first shovel of soil, the Beijing-Hangzhou Grand Canal has been very minimalist. Among many rivers and lakes in China, she flows through eight provinces and cities, with a total length of about 3200 kilometers. These layouts are like blank spaces in Chinese painting, full of charm.

　　After 2500 years, the texture is still the same, and the Grand Canal is still the same. Coincidentally, the most important thing about the Beijing-Hangzhou Grand Canal is the sense of youth: whether it was the first time in April this year that the entire line was opened to water, or the 62-kilometer interconnection and experimental navigation of the entire Beijing-Hebei section of the Grand Canal in June, or the Liangshan Port along the Grand Canal was only "7 years old".

　　In Jining’s view, Liangshan Port is purely "out of thin air", but it is particularly "indispensable".

　　Liangshan Port started construction in April 2015, and was included in the key construction projects in Shandong Province, the coal emergency reserve base in Shandong Province and the multimodal transport demonstration project in Shandong Province. In order to get through this key node, Jining Energy excavated 17.1 kilometers of waterway and built 9.18 kilometers of special railway line, connecting the Wari Railway with the Beijing-Hangzhou Canal, and realized the multimodal transport of public iron and water.

　　As the northernmost section of the Beijing-Hangzhou Grand Canal, Jining Energy Liangshan Port is now a rapidly rising inland shipping port in Shandong Province, and has been praised by the industry as a "coal mine on the ground" that does not produce coal. With the help of the low cost of container inland transportation, which is only one third of the cost of road transportation, and tapping the water transport potential of the Grand Canal, Liangshan Port has taken advantage of the east wind of the national "double cycle" strategy, which has increasingly strengthened economic communication and trade between inland areas and coastal areas, and the freight volume has risen sharply.

　　In September 2021, Liangshan Port opened scheduled container routes from Jining to Wuhan, Taicang (Shanghai), Nanjing, Huai ‘an and Lianyungang, which can reach Taicang in 5 days and Wuhan in 10 days. After the overall completion of the project, it will have a handling capacity of 50 million tons, completely opening up a new channel for logistics and transportation of bulk goods such as upstream coal.

　　Longgong Port, located next to the main channel of the Grand Canal, aims to build the largest intelligent container demonstration port in Jiangbei inland river, and introduces the "seaport concept" into inland river ports to build a specialized and highly automated container port, thus opening a new mode of green and intelligent container transportation in Jiangbei inland river.

　　Construction scene of Longgong Port

　　At present, the construction of 6#-8# container berths in Longgong Port is speeding up, and it will be put into operation smoothly at the end of July, reaching the annual handling capacity of 300,000 TEUs, which will vigorously promote the "revolution of water" and "scattered collection" of bulk goods, and the transportation cost per ton of goods can be reduced by more than 30% compared with that of public rail transportation. By building a container multimodal transport project, after all the 10 berths and special railway lines in the second phase are put into operation, the annual throughput of 800,000 TEUs of containers and 1 million tons of groceries will be realized, and the annual throughput will exceed 20 million tons. It will become the first port in Jiangbei inland river to realize unmanned shore bridge, electrified transportation and automatic yard bridge.

　　Liangshan port special railway line, the train is coming into the station.

　　With the established trend, more and more attention has been paid to the planning of river transport and river access to the sea.

　　In Jining City alone, this year, relying on four key ports, nearly 10 projects have been planned and constructed, including the intelligent container terminal project of Longgong Port, the new energy ship manufacturing base of port and shipping, the transportation equipment and container manufacturing base of port and shipping, and the metal material processing base of Liangshan Port.

　　By 2025, it is expected that the whole city will gradually realize logistics trade as the guide, and build a modern port and shipping logistics industry chain covering eight major businesses, including port operation, shipping, port and shipping engineering construction, commodity trading, supply chain finance, new energy ships and container manufacturing, intelligent logistics information service and integrated logistics, build a 100 million-ton port, develop 100 million-ton logistics, cultivate 100 billion industries, and build "China Northern Inland River Shipping Center" and "Jiangbei Commodity Trading Center".

　　Jining energy Liangshan port Jinghang multimodal transport logistics zone

　　At the same time, Jining plans to build five industrial parks, such as Liangshan Jinghang multimodal transport logistics park, Longgong container demonstration park and Yuejin Lingang industrial park, which will further cultivate and expand the producer service industry and help multimodal transport show its super power.

　　In February of this year, the 14th Party Congress of Jining put forward "unswervingly implementing the breakthrough strategy of modern port and shipping logistics", adjusted and established the modern port and shipping logistics development headquarters, and demanded that the whole city make efforts to develop modern port and shipping logistics, promote inland shipping to break the obstruction, expand capacity and upgrade, and fully revive, build Shandong into a bridgehead open to inland and international, and strive for a port-type national logistics hub.

　　Jining Towing Team (No.2836) originating from Liangshan Port and heading south in the sunset Wang Chuanjun/photo

　　Nowadays, Jining continues the profound port and shipping culture, and relies on a full range of shipping elements to reproduce the prosperous scene of "officials, merchants and ships gather together, and hemp is under the economic city".

　　Interestingly, Jining has a different perspective every time it "screens", which reminds us repeatedly about the profound charm and proud responsibility of this city. When Jining dedicated her blood to the 20th National Congress of the Communist Party of China, we were even more surprised by her optimism, composure, wisdom and limitless future.

Source: Public Network