China Green Bond Market 2016

 This report, which was produced jointly by Climate Bonds and China Central Depository & Clearing Co. Ltd. (CCDC), provides a detailed analysis of the:

  • Characteristics of the domestic green bond market in China, according to green definitions from both the PBOC’s Green Bond Endorsed Project Catalogue and the international Climate Bonds Taxonomy (with charts)
  • Growing role of corporate issuers and diversity of bond structure, for example green ABS and green covered bond
  • Green bond market infrastructure and verification tools available
  • Major policy developments of the last year, from the launch of the PBOC’s announcement on green bond guidelines in December 15 to the establishment of the G20 Green Finance Study Group (GFSG)

 

>> Download English report (A4 Version / A3 Version)

>> 点击下载中文版报告

 

Dr Ma Jun, Chief Economist, Research Bureau, People's Bank of China:

“This report shows that the green bond market has had a strong start in China, now the world's largest green bond market. Green bonds already make up 2% of Chinese bonds, whereas globally the figure is less than 0.2%. 

But the potential is tenfold, because 20% of investments in China need to be green to meet our national objectives. So we expect the green bond market to continue to have very strong growth.”

Liu Fan, Vice PresidentChina Central Depository & Clearing Co. Ltd:

“Developing green bond markets could help us mobilise more private capital into green projects to deal with climate change and environmental challenges, and to achieve the transition of a green economy in China. China’s green bond market is growing rapidly: in 2016, the green bond issuance from Chinese issuers represents 38% of the global green bond issuance. CCDC has been facilitating the development by offering products such as green bond indices, and depository and clearing services for domestic and cross-border green bond issuance. We will continue to provide support for sustaining the growth of the green bond market in China.”

Sean Kidney, CEO, Climate Bonds Initiative:

“Both this State of the Market report and the ChinaBond Climate-Aligned Bond Index demonstrate the huge potential for China to continue to lead the way. Not just in total green bond issuance, but also in developing policy mechanisms that will catalyse the rapid market scaling that we urgently need to see. I’m confident that the exciting domestic policy developments will allow China to continue to be a global leader in both these areas in 2017.”