Macro strategy Daily: Xi Jinping : in depth analysis of the situation and tasks facing promoting carbon peaking and carbon neutralization

Xi Jinping : deeply analyze the situation and tasks faced by promoting carbon peak and carbon neutralization

On the afternoon of January 24, the Political Bureau of the CPC Central Committee held the 36th collective study on striving to achieve the goal of carbon peak and carbon neutralization. Xi Jinping states:

We should make greater efforts to plan and build a new energy supply and consumption system based on large-scale wind and solar power bases, supported by clean, efficient, advanced and energy-saving coal power around them, and supported by stable, safe and reliable UHV power transmission and transformation lines. We should resolutely control fossil energy consumption, especially strictly and reasonably control the growth of coal consumption, orderly reduce and replace, and vigorously promote the "three transformation linkage" of coal power energy conservation and carbon reduction, flexibility and heating transformation. We should give more prominence to promoting the development of new and clean energy, and actively and orderly develop light energy, silicon energy, hydrogen energy and renewable energy. We should promote the deep integration of energy technology with modern information, new materials and advanced manufacturing technology, and explore new modes of energy production and consumption. We should accelerate the development of new energy sources such as wind energy, Cecep Solar Energy Co.Ltd(000591) , biomass energy, geothermal energy, marine energy and hydrogen energy with economies of scale, coordinate hydropower development and ecological protection, and actively develop nuclear power in a safe and orderly manner. We should seize the opportunity of a new round of scientific and technological revolution and industrial transformation, promote the deep integration of emerging technologies such as the Internet, big data, artificial intelligence and the fifth generation mobile communication (5g) with green and low-carbon industries, build a green manufacturing system and service system, and increase the proportion of green and low-carbon industries in the total economy. We should strictly control the carbon emission of new projects and resolutely curb the blind development of high energy consumption, high emission and low-level projects. We should make great efforts to promote the optimization and upgrading of traditional industries such as iron and steel, nonferrous metals, petrochemical, chemical industry and building materials, and accelerate the innovation and digital transformation of low-carbon processes in the industrial field.

*** Actively promote the orderly development of clean energy and new energy such as light energy, silicon energy, hydrogen energy and renewable energy. And promote the integration of new energy, new materials and manufacturing industry, seize the opportunity of a new round of scientific and technological revolution, accelerate the green and low-carbon scientific and technological revolution, and transform scientific and technological achievements. Overall, it is good for carbon neutralization and related sectors.

Financing funds

On January 24, the balance of A-share financing was 1673.981 billion yuan, a month on month decrease of 2.503 billion yuan; The balance of margin trading was 1777.140 billion yuan, a decrease of 4.723 billion yuan month on month. The balance of financing minus securities lending was RMB 1570822 million, a month on month decrease of RMB 283 million.

Land stock connect and Hong Kong stock connect

On January 25, the net purchase transaction of land stock connect on that day was -3.574 billion yuan, including 53.366 billion yuan of purchase transaction and 56.940 billion yuan of sales transaction, with a cumulative net purchase transaction of 1677.302 billion yuan. Hong Kong stock connect had a net purchase transaction of HK $2.334 billion on the same day, including a purchase transaction of HK $16.716 billion and a sale transaction of HK $14.382 billion, with a cumulative net purchase transaction of HK $2223.979 billion.

Money market

On January 25, Bank Of Shanghai Co.Ltd(601229) inter-bank offered rate Shibor overnight interest rate was 1.9310%, down 0.40bp, Shibor one week was 2.0930%, down 3.90bp. The weighted interest rate of pledged repo of depository institutions was 1.9204% overnight, down 0.82bp and 1.9918% a week, down 5.81bp. The 10-year yield to maturity of China national debt was 2.6751%, down 3.49bp.

Overseas stock market

On January 25, the Dow Jones Industrial Average closed at 34297.73 points, down 0.19%; The S & P 500 index closed at 4356.45 points, down 1.22%; The NASDAQ index closed at 13539.30, down 2.28%. European stock markets, French CAC index closed at 6837.96 points, up 0.74%; Germany's DAX index closed at 15123.87 points, up 0.75%; The FTSE 100 index closed at 7371.46, up 1.02%. In the Asia Pacific market, the Nikkei index closed at 27131.34 points, down 1.66%; The Hang Seng Index closed at 24243.61 points, down 1.67%.

Foreign exchange rate

On January 25, the dollar index rose 0.11% to 95.9975. The euro fell 0.21% against the dollar to 1.1300. The dollar fell 0.11% against the yen to 113.8700. The pound rose 0.10% against the dollar to 1.3504. The spot exchange rate of RMB against the US dollar closed at 6.3252, up 0.11%. The spot exchange rate of offshore RMB against the US dollar closed at 6.3311, up 0.04%. The central parity rate of RMB against the US dollar closed at 6.3418, depreciating by 0.01%.

Gold, crude oil

On January 25, Comex gold futures rose 0.25% to close at US $1848.10/oz. WTI crude oil futures rose 1.30% to close at US $85.17/barrel. Brent crude oil futures rose 1.04% to close at US $88.08/barrel. COMEX copper futures rose 0.15% to close at US $4.4590/lb. LME copper three-month futures rose 1.02% to close at US $9846 / ton.

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