The Business Times
business-time-50

Addressing China’s green finance challenges

Obstacles need to be addressed before the country can exploit the opportunities, starting with aligning China’s definition for green industries and green finance with international standards. 

google-preferred-sourceAdd BT as a preferred source
    • President Xi Jinping’s recent pledge to achieve carbon neutrality by 2060 will be a significant boost to green finance’s development. There will be immense financing demand during China’s greener economic transformation.
    • President Xi Jinping’s recent pledge to achieve carbon neutrality by 2060 will be a significant boost to green finance’s development. There will be immense financing demand during China’s greener economic transformation. Pixabay

    May Yan

    Published Mon, Jul 4, 2022 · 03:25 PM

    THE green finance business is rapidly expanding in China, as regulators are committed to achieving a greener economic transformation on top of the 2060 carbon neutrality goal. Policymaking has been top-down, with high-level directives guiding the overall development of the market.

    In 2016, the People’s Bank of China (PBOC), China Banking and Insurance Commission and several ministries issued the Guidelines for Establishing the Green Financial System, which have served as the major policy framework for green finance initiatives in the country.

    The multilayer characteristics of China’s green finance system is evident in the high-level guidelines. The system consists of green loans, green bonds, environmental, social and governance (ESG) funds, green insurance, green leasing, green trusts and carbon trading.

    ChinaCaixin

    TRENDING NOW

    In 2027, the combined maximum incentives for EV cars will be lowered to S$20,000 from S$30,000 currently.

    Record Cat A COE: expiring EV perk, longer bidding interval behind ‘re-run of 2025 mania’

    Philippine’s Maharlika support for Petron through a credit facility shows the sovereign fund’s role in the nation’s energy security.

    Early payout from Philippines’ Maharlika Investment Fund raises eyebrows over its true nature

    SGX has divested its wholly owned subsidiary, Scientific Beta, to global index provider Stoxx.

    Stocks to watch: SGX, Aims Apac Reit

    Recent cuts at e-commerce platforms such as Shopee is signalling shifting business priorities.

    E-commerce job cuts signal S-E Asia’s shift from scaling to deeper user engagement

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More