In the first half of 2019, total green bond issuance from China went up to USD21.8bn, a 62% increase year on year, largely due to contributions from regional banks and the private sector as a whole.
However, only 49% (or USD10.7bn) of H1 volume from Chinese issuers is in line with international green bond definitions. Another 49% has been excluded in accordance with CBI Green Bond Database Methodology. Of the remainder there are 5 deals on the Pending list, and they account for 2% (USD395.3m) of H1 issuance, where proceeds allocation disclosure is insufficient for us to determine alignment.
Issuance from financial corporates accounts for 41% of H1 total issuance, followed by non-financial corporates - 34%, government-backed entities -12.5% and ABS - 12.5%.
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