Li Gao:
On page 31 of "China's Policies and Actions for Addressing Climate Change (2019)," there are subheadings for two sections about developing green finance and climate investment and financing. Therefore, you can find the answer from this year's report.
Since last year, we have released a series of documents in regard to green finance. Also, in 2018, the Green Bonds Standard Committee was established by the People's Bank of China and the China Securities Regulatory Commission. It marked significant progress in this green finance. In addition, we have made important progress in climate investment and financing. First of all, during the institutional reform, the importance of the financial system in addressing climate change has been fully taken into consideration. The People's Bank of China was included as a member institute of the leading group on climate change, energy conservation and emission reduction, so as to highlight the role that the financial system and policies play to create a systematic response to climate change and for the realization of the Nationally Determined Contributions. Second, the Ministry of Ecology and Environment has built stronger connections with financial regulator, fiscal authorities and investment regulator to make polices in the respective fields more adaptable to climate change. We are working to release relevant policy documents to build synergy in policies between climate change, finance and investment, and better address this issue.
Another development worth noting is that, led by the Ministry of Ecology and Environment, the Climate Investment and Finance Association was established with the joint efforts of the People's Bank of China, China Banking and Insurance Regulatory Commission, National Development and Reform Commission and the Ministry of Finance. As a platform to promote policy research and synergy, the committee is set to make climate change policies dovetail with those on finance and investment. We hope that this association can connect the industry and finance, promoting communication between them and make finance policies more adaptable to the industry and related projects. Meanwhile, we hope that this committee can serve as a communication platform. Climate investment and finance are very popular around the world. Many international financial organizations and government bodies are interested in the development of climate investment and finance in China. Thus, we hope that the association can play a prominent role in deepening international cooperation in this area. Still, we hope that various sectors of the government can play their part and support the development of this association, so as to actively address climate change. Thank you.
