China’s Green Finance Policy Framework

Abstract

2015 is the first year of innovation and development of Green Finance in China. On September 21, 2015, the Party Central Committee and the State Council issued An Overall Plan for Institutional Reform to Promote Ecological Progress from the strategic perspective of “creating a new pattern of modernization featuring harmonious development between man and nature”. It proposes to increase the issuance of green credit, set up a green stock index, develop related investment products, issue green bonds, operate green development funds on the market, improve carbon financial instruments and policies, establish a green insurance system, and promote various international cooperation in the field of Green Finance. From these perspectives, it carries out comprehensive, systematic, and forward-looking system design and arrangement to achieve the strategic goal of establishing the Green Finance system.