Chen Yulu, Vice Governor of the Central Bank: Building a Unified System of Green Financial Standards

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 Chen Yulu, Vice Governor of the Central Bank: Building a Unified System of Green Financial Standards


On the afternoon of March 5, the second session of the 13th CPPCC National Committee held a press conference on winning, preventing and resolving major risks, eliminating poverty accurately and preventing pollution.

Chen Yulu, member of the CPPCC National Committee and deputy governor of the Central Bank, said at the press conference that the financial sector could bring into play the advantages of the market mechanism, raise funds, improve the efficiency of the use of funds, and provide strong support for the development of green industry and the green upgrading of traditional industries.

Chen Yulu said that since 2016, China has accelerated the pace of building a green financial system. The development of green financial products is very rich. At the end of last year, the balance of green loans of 21 banks in China reached more than 800 million yuan, and the stock of green bonds is close to 600 billion yuan, ranking the top in the world.

At the international level, Chinas green finance has considerable international leadership and voice.

Chen Yulu said that the next step in the development of green finance is to do three core tasks:

One is to build a unified system of green financial standards, requiring domestic unification, international integration, clarity and enforceability. At present, there are some foundations. On the one hand, there are five green financial reform and innovation zones, and many experiences can be summarized. On the other hand, the international experience of green finance can also be absorbed. The second is to improve the institutional environment of green finance. The central bank has incorporated green bonds and green credit into the macro-prudential assessment (MPA) to encourage and guide banks and other financial institutions to develop green finance. Third, the internationalization of green finance needs to be promoted continuously. Chen Yulu said that last year the Central Bank of China and the Central Bank of France participated in launching a global green financial network to promote the normalization of green financial development platform, in which the Central Bank of China plays a central role and should play a good role. In a word, we should promote the high-quality development of the national economy through the high-quality development of green finance. Chen Yulu concluded. Source: Peng Mei News Author: Chen Yueshis Responsible Editor: Su Hongyong_NBJ9980

One is to build a unified system of green financial standards, requiring domestic unification, international integration, clarity and enforceability. At present, there are some foundations. On the one hand, there are five green financial reform and innovation zones, and many experiences can be summarized. On the other hand, the international experience of green finance can also be absorbed.

The second is to improve the institutional environment of green finance. The central bank has incorporated green bonds and green credit into the macro-prudential assessment (MPA) to encourage and guide banks and other financial institutions to develop green finance.

Third, the internationalization of green finance needs to be promoted continuously. Chen Yulu said that last year the Central Bank of China and the Central Bank of France participated in launching a global green financial network to promote the normalization of green financial development platform, in which the Central Bank of China plays a central role and should play a good role.

In a word, we should promote the high-quality development of the national economy through the high-quality development of green finance. Chen Yulu concluded.