https://english.news.cn/20260113/d5299aff57c0427fae4c6ec9a30913d3/c.html

http://finance.people.com.cn/n1/2026/0113/c1004-40644285.html

The model Shangji 熵机（stock）was jointly developed by Fudan University and the National Meteorological Information Centre. Its core function is to assess how meteorological factors influence asset pricing. Utilizing global reanalyzed meteorological data and historical stock trading data, it is able to forecast short-term returns for the majority of stocks on China’s A-share market.

Validation tests indicate that the model is capable of accurately identifying industries highly sensitive to weather conditions, such as wind and solar power, traditional petrochemicals, construction and agriculture, thereby aligning with international standards. Back-testing of investment strategies based on the model’s predictions has shown “sustained and stable positive returns” over various historical periods, suggesting practical potential.

Companies in weather-sensitive industries can use it for climate risk management, while banks and insurers can apply it to control risks in businesses, like equity pledges, and explore climate-related financing.