CHINA SUSTAINABLE DEBT STATE OF THE MARKET REPORT 2022

The China Sustainable Debt State of the Market Report 2022, published by the Climate Bonds Initiative, CCDC Research, and CIB Research, analyzes the growth and composition of China's green, social, sustainability, sustainability-linked (SLB), and transition bond markets (GSS+) through the end of 2022.

• China was the largest global source of green bonds in 2022 according to Climate Bonds definitions, with recorded volumes of USD 85.4 billion (RMB 575.2 billion) from onshore and offshore issuers.
• Total labelled green bond issuance from Chinese issuers reached USD 155 billion (RMB 1.0 trillion) in 2022, a 35% year-on-year increase, bringing cumulative volumes to USD 489 billion (RMB 3.3 trillion) by year-end.
• Onshore green bond issuance in 2022 was dominated by Energy and Transport categories, with Renewable Energy accounting for half of onshore bonds and Low Carbon Transport accounting for 27%.
• The market for transition-related instruments is in its early stages; by the end of 2022, cumulative volumes for SLBs and transition bonds listed onshore and offshore reached USD 19.6 billion (RMB 131.9 billion), with SLBs comprising 92% of this volume.
• Cumulative issuance of labelled social and sustainability bonds in China's domestic market reached RMB 2.17 trillion (USD 321.7 billion) by the end of 2022, with pandemic bonds accounting for 71.5% of the total.
• Rural revitalisation bonds emerged as the largest sub-label of the social and sustainability bond market, with cumulative volumes reaching RMB 292.2 billion (USD 43.4 billion) by the end of 2022.
• Beijing was the leading region for onshore green bond issuance in 2022, accounting for 45% of the total volume recorded by Climate Bonds (USD 32.3 billion), while Guangdong Province showed the largest geographic growth.

APA

Manshu, D., Wenhong, X., MacGeoch, M., Xinru, X., Yi, S., Jin, S., Yingying, C., Zhengwei, L., Lihua, Q., & Qi, F. (2023). CHINA SUSTAINABLE DEBT STATE OF THE MARKET REPORT 2022. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/publications/cbi_china_sotm_22_en.pdf

Chicago

Manshu, DENG, XIE Wenhong, Matthew MacGeoch, XU Xinru, SHI Yi, SHANG Jin, CHEN Yingying, et al. CHINA SUSTAINABLE DEBT STATE OF THE MARKET REPORT 2022. Climate Bonds Initiative, 2023. https://www.climatebonds.net/files/documents/publications/cbi_china_sotm_22_en.pdf.

Wikipedia

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BibTeX

@techreport{manshu2023china, author = {Manshu, DENG and Wenhong, XIE and MacGeoch, Matthew and Xinru, XU and Yi, SHI and Jin, SHANG and Yingying, CHEN and Zhengwei, LU and Lihua, QIAN and Qi, FANG}, title = {{CHINA SUSTAINABLE DEBT STATE OF THE MARKET REPORT 2022}}, institution = {Climate Bonds Initiative}, year = {2023}, month = may, url = {https://www.climatebonds.net/files/documents/publications/cbi_china_sotm_22_en.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }