Green bond issuance in China soared in 2016 from almost zero to about RMB 200 billion, accounting for about 39% of global issuance in 2016. In China, most green bonds are issued by financial institutions. Issuers are based primarily in Shanghai, Beijing and Fuzhou. Bonds issued by other non-financial institutions have supported over 110 projects across 27 provincial administrative regions.
Government regulators and stock exchanges have played a pivotal role in the development of green bonds in China. At the local level, incentives such as policy signals, supporting facilities, financial incentives and recognitions have been offered to encourage the development of green finance.
This report is jointly released by SynTao Green Finance and Climate Bonds Initiative at China's Green Finance Committee Annual Conference in April 2017. It provides an overview of local government policy instruments for developing green bond market in China with further recommendations.
Related Tool: Database of Policy Instruments applicable to Green Bonds (in Chinese)
Based on publicly available information, this database provides cases of national or provincial policy instruments in forms of policy signals, facilities, financial incentives and recognitions.