China's macroeconomic summary
The development scale of China's green finance leads the world, but the gap of green investment demand is still large. In terms of the capital demand for the realization of the "30.60" goal, we have summarized the conclusions of 10 academic and commercial research institutions: the annual average capital demand of carbon peak is 1.42 trillion-7.7 trillion; The annual average capital demand of carbon neutralization is 1.8 trillion-3.9 trillion.
Academic institutions: on the one hand, the research group of "green financial reform and promoting green transformation" of Renmin University of China pointed out that from 2015 to 2030, the demand for medium-term plan was 70.1 trillion yuan; The total fund demand for high-level programmes is 123.4 trillion yuan, and the annual average fund demand is 4.4 trillion yuan / year and 7.7 trillion yuan respectively. According to the research of the price monitoring center of the national development and Reform Commission, China needs 3.1 trillion-3.6 trillion yuan per year to reach the carbon peak in 2030; CUFE Green Gold Institute believes that in order to achieve China's goal of "carbon peak" in 2030, the cumulative green investment demand since 2021 is conservatively estimated to be 14.2 trillion yuan, that is, the annual average demand is 1.42 trillion yuan. On the other hand, for the realization of the carbon neutralization target in 2060, most studies believe that the investment scale required for China to achieve the carbon neutralization target is more than 100 trillion yuan. The report on China's long-term low-carbon development strategy and transformation path released by the Institute of climate change and sustainable development of Tsinghua University points out that to achieve the goal oriented transformation path of 1.5 ℃, the cumulative new investment is about 138 trillion yuan, that is, the annual new investment is about 4.6 trillion yuan, and the annual investment exceeds 2.5% of GDP; Professor Chen Shiyi, director of the green finance research center of Fudan University, pointed out that the investment required for China to achieve carbon neutralization is about 68.63 trillion yuan, that is, the annual average investment required is 1.8 trillion yuan.
Overseas macro summary
Global stock market: the CPI data of the United States in November continued to reach a new high, with a year-on-year record of 6.8%, which was in line with expectations, and the core CPI recorded 4.9%, which was also in line with market expectations. After the data were released, gold rose sharply and US stocks continued to rise. Last week, the three major indexes of U.S. stocks rose significantly, of which the Dow index rose the highest, as high as 4.02%, the S & P 500 rose 3.82% and the NASDAQ rose 3.61%. European stock markets also showed strong performance, with FTSE 100 up 2.38%, France up 3.34% and Germany up 2.99%. Asian stock markets performed slightly weaker, but they also recorded an upward trend. The Nikkei closed up 1.46%, South Korea closed up 1.41%, and the Hang Seng Index rose slightly, reaching 0.96%. In emerging markets, only Russia fell, down as much as 3.91%, the rest stopped falling and rebounded, the Brazilian market rose as much as 2.56%, and the Indian index rose 1.89%. MSCI index rose across the board, with MSCI in developed markets up 3.21%, emerging markets up 1.11% and Asia Pacific up 1.19%. High inflation in the United States has led to rising expectations of early interest rate hikes in the United States, but the performance of US stocks is still strong, and the market is less worried about the risk of US stock callback.
