Summary
In the first half of 2018, China's green bond issuance grew by 14% year-on-year to 130.2 billion RMB (13 billion USD), with 9.3 billion USD aligning with international green bond definitions. Financial institutions remained the largest issuers, while renewable energy was the primary use of proceeds. The report highlights a trend where nearly half of green bonds were excluded from the Climate Bonds Initiative database due to allocating more than 5% of proceeds to general working capital, a practice permitted under Chinese national guidelines but restricted by international standards.
Key insights
- China's total green bond issuance in the first half of 2018 reached 130.2 billion RMB (13 billion USD), representing a 14% year-on-year increase. Of this total, 9.3 billion USD aligned with international green bond definitions, accounting for 12% of the global market for the same period.
- Offshore issuance represented 40% of the total green bond volume in the first half of 2018, with ICBC becoming the largest offshore issuer after issuing 2.3 billion USD in June via the London and Hong Kong stock exchanges.
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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