Strengthen the green financial industry, to what extent?

Enhance the transparency of green finance. China's green credit, green bonds and green funds have introduced about 8 trillion yuan of social capital to the green industry.

The financial assets managed by financial institutions in China are 120 trillion yuan, accounting for about 70% of the total assets of China's financial industry among the 90 member units of the Green Finance Committee of China Financial Association, providing a sustainable driving force for green investment. With the continuous introduction and implementation of various standards of green finance, it will effectively promote and standardize the healthy and rapid development of green finance in China and gradually unify the standards of green finance in China.

Under the guidance of the high-level architecture design of the green financial system issued by the People's Bank of China, China Banking and Insurance Regulatory Commission and other seven ministries and commissions, the green financial incentive and restraint policies and institutional innovations have been continuously developed, and the green financial incentive and restraint policies have become more and more "enriched" from "guidance".

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1.2020 Analysis on the development status and trend of green finance industry is similar to policy financing in traditional finance, that is, its implementation needs the promotion of government policies. Under the guidance of the current policy and the idea of "economic man", the traditional financial industry either aims at economic benefits or takes it as its own responsibility to complete policy tasks. The latter is policy-driven finance. Environmental resources are public goods. Unless there is a policy, financial institutions cannot take the initiative to consider whether the lender's production or service is eco-efficient. Developing ecological construction and green economy is an important link in the construction of modern economic system in the new period. Therefore, it is urgent to combine building a green financial system with promoting green development. In recent years, with the support of national policies, China's green financial system has made breakthrough progress, the scale of green financial market has expanded rapidly, and infrastructure such as related standard systems have been improved day by day.

2. At present, the national level has accelerated the pace of building a green financial system and achieved remarkable results, including building a unified national green financial standard system, popularizing the pilot experience of the green financial reform and innovation pilot zone, and actively supporting the development of the green bond market. China will further expand the internationalization prospect of China's green bond market. At the same time, accelerate the docking of China's green bonds with the international market and promote the construction of the Green Belt and Road. Third-party external evaluation and certification of green bonds will play an important role in this respect, because it provides international investors with confidence and guarantee of bond qualification, and is conducive to international investors to find and invest in high-quality green bonds issued in China.

3. Therefore, in the future, we can consider speeding up the unification of international and domestic green bond definition standards, standardizing the use of funds raised by green bonds, strengthening information disclosure arrangements, cultivating professional certification institutions, encouraging green certification, providing clearer policy guidance for green bond market access programs, and accelerating green finance by improving the standardization of the "Belt and Road" construction of the green financial system. During the "Thirteenth Five-Year Plan" period, the potential green bond market in China will reach 5.4 trillion yuan, while the demand for green financing in five areas, including sustainable energy, environmental infrastructure construction, environmental restoration, industrial pollution control and energy conservation, will reach 14.6 trillion yuan.