Summary
The report highlights that China became the global leader in green bond issuance in 2016, driven by policy support from the People's Bank of China (PBOC) and the National Development and Reform Commission (NDRC). In 2016, Chinese issuers issued approximately $36.2 billion in green bonds, accounting for 39% of global issuance. While the market grew rapidly, the report notes discrepancies between domestic and international green definitions, particularly regarding the use of proceeds for refinancing and the inclusion of clean coal projects. Commercial banks were the dominant issuers, and clean energy was the most targeted sector. The document recommends unifying green bond standards and enhancing disclosure to attract more international investors.
Key insights
- Commercial banks were the primary issuers in the Chinese market, accounting for 82% of the total issuance volume in 2016, while corporate issuers accounted for 16%.
- Clean energy was the most frequent area for green bond issuance, followed by clean transportation and energy saving. Ecological protection and climate change adaptation were the least targeted areas.
- The market is characterized by high credit ratings, with AAA-rated green bonds dominating 74% of the total issuance scale in 2016. Additionally, green bonds in China tend to have slightly lower issuance rates compared to non-green bonds of the same rating.
Cite the original document
- APA
- Boulle, B., Meng), 孟. (., & Dai), 戴. (. (2017). 中国绿色债券市场 现状报告2016. Climate Bonds Initiative. https://www.climatebonds.net/files/drupal-files/files/SotM-2016-Chinese-Final-01-A4.pdf
- Chicago
- Boulle, Bridget, 孟祥瑞 (Alan Meng), and 戴伟惠 (Lily Dai). 中国绿色债券市场 现状报告2016. Climate Bonds Initiative, 2017. https://www.climatebonds.net/files/drupal-files/files/SotM-2016-Chinese-Final-01-A4.pdf.
- Wikipedia
- {{cite report |last1=Boulle |first1=Bridget |last2=Meng) |first2=孟祥瑞 (Alan |last3=Dai) |first3=戴伟惠 (Lily |title=中国绿色债券市场 现状报告2016 |publisher=Climate Bonds Initiative |date=January 2017 |url=https://www.climatebonds.net/files/drupal-files/files/SotM-2016-Chinese-Final-01-A4.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}
- BibTeX
- @techreport{boulle20172016, author = {Boulle, Bridget and Meng), 孟祥瑞 (Alan and Dai), 戴伟惠 (Lily}, title = {{中国绿色债券市场 现状报告2016}}, institution = {Climate Bonds Initiative}, year = {2017}, month = jan, url = {https://www.climatebonds.net/files/drupal-files/files/SotM-2016-Chinese-Final-01-A4.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }
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