PBC released a report that presents the developments in green finance in China in 2018. The report covers progress made in the development of green finance standards, the writing of Green Industry Guidance Catalog (2019), the performance assessment of green credit offered by depository financial institutions in the banking sector, and the self-regulatory mechanisms of the green finance industry.
The report points out that China followed two paths, namely top-down promotion and bottom-up exploration, to continuously advance the building of the green finance system in 2018 and delivered remarkable achievements in the reform, innovation, and international cooperation on green finance. The green finance in China has not only secured fast growth but also brought out further social and environmental benefits. As China brings green finance into a new phase of in-depth development, continued efforts will be made to explore the fundamental theories, improve the green finance standard system, study and reserve more policy tools, encourage product and service innovation, and enable extensive and in-depth engagement in global green finance governance, in an effort to forge ahead with sustainable and high-quality green finance development in China. The key aspects covered in the report include the following:
- Trend of high-quality development continuing to inject new impetus into green finance
- New achievements and new progress in green finance development
- Thoughts and Future Direction of Green Finance Development
Keywords: Asia Pacific, China, Banking, Insurance, Securities, Green Finance, International Cooperation, ESG, PBC
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