Financing the Decarbonisation of China’s Steel Sector: Insights from the Transition Finance Pilot and Market Progress

This report analyses market instruments and developments in China’s steel industry since the introduction of transition finance guidelines by Hebei Province, the country’s largest steel-producing region. It examines trends in bank lending and bond issuance, incorporating insights from interviews with market participants. The report offers actionable guides for steel companies to address decarbonisation challenges, strategies to secure financing for decarbonisation, and insights for policymakers and standard setters developing future market incentives and transition policies.

本报告全面梳理了中国钢铁行业转型贷款与债券发行的趋势，并通过对市场参与者的深度访谈，剖析了资本市场在支持钢铁行业转型过程中面临的关键挑战，同时追踪了河北省《工作指引》出台后转型金融市场的发展态势。报告不仅为钢铁企业提供了高效脱碳融资的实践指南，帮助金融机构和投资者了解转型融资市场的现状，还为政策和标准制定者确定后续行动的方向提供了参考。

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