2021-09-15-Credit_Suisse-拥抱碳中和_72页_2mb

中国市场碳中和策略报告总结

Carbon neutrality is central to China’s economic transformation, driven by ambitious government targets outlined in recent policy announcements. The national carbon trading market, now covering power companies, is expected to expand to sectors like auto and cement in the future.

Consumers and SMEs show mixed awareness of carbon reduction efforts, but regulatory pressures and policy support are driving behavioral changes. Green finance policies, including green loans and bonds, are accelerating investment in low-emission projects.

Key sectors like NEVs, renewable energy, hydrogen, and basic materials are poised for major growth amid the carbon neutrality transition. Financial institutions are increasingly involved in financing these initiatives, with green finance contributing significantly to societal decarbonization goals.

Stock recommendations include leaders in NEV production (BYD, NIO), battery manufacturing (CATL), renewable energy (LONGi), cement (CR Cement), and hydrogen equipment (Enric). Overall, the Carbon theme basket demonstrates strong performance with a focus on technical innovation and sector-specific catalysts.

Facteurs clés de soutien de l'évaluation:

• Depuis trois mois, l'évaluation du Yen japonais s'est établie à une moyenne de 139,44 JPY/USD et reste contenue à proximité du maximum de cycle (85) sur le plan technique.
• Le marché du Forex, dans son ensemble, a connu une phase de consolidation. Le sentiment change discrètement.
• Les perspectives de la Fed sur les taux d'intérêt sont aux organisations dans leurs plus basses-vireurs en plusieurs ans.
• Les indicateurs de liquidité de change restent optimistes tant sur l'acheminement que sur la conversion off-shore.
• Les tendances de change de court terme reflètent des anticipations sur l'économie chinoise solide et les attentes de revenu.