Summary
The Climate Bonds Initiative's H1 2018 report on the Chinese green bond market details a total issuance of $13.02 billion, with a significant portion aligned with international green definitions. The report highlights the dominance of financial institutions, the growth of offshore issuances, and the prevalence of renewable energy as the primary use of proceeds, while noting discrepancies between domestic and international standards regarding working capital.
Key insights
- In the first half of 2018, China's total green bond issuance reached $13.02 billion (84.4 billion RMB), representing a 14% year-on-year increase. Of this total, $9.29 billion was consistent with international green bond definitions, accounting for 12% of the global market's $76.9 billion total for the same period.
- Financial institutions were the largest issuer type, contributing $5.75 billion, with Industrial and Commercial Bank of China (ICBC) and Bank of China leading. Non-financial enterprises accounted for 32% of the total issuance, while government-supported institutions saw a 1.5-fold year-on-year increase in issuance.
- Offshore issuances constituted 40% of the total green bond volume in H1 2018. In the domestic market, the interbank bond market remained dominant, accounting for 76% of issuances, followed by the Shanghai Stock Exchange at 22%.
Cite the original document
- APA
- Climate Bonds Initiative (2018). 中国绿色债券市场 2018 半年报. https://www.climatebonds.net/files/drupal-files/files/China%202018%20H1%20Report-CH%20final.pdf
- Chicago
- Climate Bonds Initiative. 中国绿色债券市场 2018 半年报. 2018. https://www.climatebonds.net/files/drupal-files/files/China%202018%20H1%20Report-CH%20final.pdf.
- Wikipedia
- {{cite report |author=Climate Bonds Initiative |title=中国绿色债券市场 2018 半年报 |date=July 2018 |url=https://www.climatebonds.net/files/drupal-files/files/China%202018%20H1%20Report-CH%20final.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}
- BibTeX
- @techreport{climatebondsinitiative20182018, author = {{Climate Bonds Initiative}}, title = {{中国绿色债券市场 2018 半年报}}, institution = {Climate Bonds Initiative}, year = {2018}, month = jul, url = {https://www.climatebonds.net/files/drupal-files/files/China%202018%20H1%20Report-CH%20final.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }
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