Green Finance

Green Finance

Green finance is a major support of green development. It is also part of supply-side structural reform.

In August 2016, the People's Bank of China and six other central ministries and regulatory bodies issued guidelines on building a green financial system. The document defined green finance as activities supporting environmental protection, addressing climate change, and promoting conservation and efficient use of resources. These include financial services to the investment and fund-raising, operation and risk control of projects in relation to environmental protection, energy saving, clean energy, green transportation, and green buildings.

The report to the CPC's 19th National Congress listed green finance as one way to promote green development. Building a green financial system will help expedite the green transformation of China's economy, benefit technological advances in eco-friendly and energy-saving sectors and new energy, accelerate the fostering of new growth areas, and unlock potential for growth.

China is the world's first economy to have established a relatively complete policy system for green finance. In recent years, green finance has grown rapidly in China, leading the rest of the world in such sectors as incentive measures, local pilots, green bonds, green industrial funds, environmental pressure testing, and green assessment and certification.

Since 2012, the China Banking Regulatory Commission, the People's Bank of China, the National Development and Reform Commission, the Shanghai Exchange, and the Shenzhen Exchange have issued a series of documents regarding green credit, green bonds issuance, green corporate bonds, and the green financial system. Some regions in Gansu, Guangdong, Guizhou, Jiangxi, Xinjiang and Zhejiang have been granted approval to build pilot zones for green finance reform and innovation with particular focuses and features, and their successful institutional practices may be replicated in other parts of China.

绿色金融

发展绿色金融，是实现绿色发展的重要措施，也是供给侧结构性改革的重要内容。2016年8月，中国人民银行等7部委联合印发《关于构建绿色金融体系的指导意见》，明确绿色金融的内涵为支持环境改善、应对气候变化和资源节约高效利用的经济活动，即对环保、节能、清洁能源、绿色交通、绿色建筑等领域的项目投融资、运营和风险管理等提供的金融服务。中共十九大报告进一步将发展绿色金融作为推进绿色发展的路径之一。构建绿色金融体系，不仅有助于加快国家经济向绿色化转型，也有利于促进环保、新能源、节能等领域的技术进步，加快培育新的经济增长点，提升经济增长潜力。

中国是全球首个建立比较完整的绿色金融政策体系的经济体。近年来，中国绿色金融发展迅速，在激励措施、地方试点、绿色债券、绿色产业基金、环境压力测试、绿色评估与认证等领域走在世界前列。2012年至今，中国银监会、中国人民银行、国家发展改革委、沪深交易所等多个部门先后发布了关于绿色信贷、绿色债券发行、绿色公司债、绿色金融体系等一揽子文件。浙江、江西、广东、贵州、新疆、甘肃等6省（区）部分地区获批建设各有侧重、各具特色的绿色金融改革创新试验区，在体制机制上探索出可复制可推广的有益经验。