Journal of Service Science and Management, 2018, 11, 94-100
http://www.scirp.org/journal/jssm
ISSN Online: 1940-9907
ISSN Print: 1940-9893
DOI:
10.4236/jssm.2018.111009 Feb. 27, 2018 94 Journal of Service Science
and Management
Introduction to China’s Green Finance System
Huan Peng
*
, Xiaoqing Lu, Chaobo Zhou
School of Economics and Finance, Chongqing University of Technology, Chongqing, China
Abstract
In China, green finance has become a bright spot in the development of the
financial industry. The pace of building a green financial system is accelera
t-
ing. Relevant systems are gradually being established and perfected. China’s
green finance business has achieved initial development in the past decade.
Some policies such as green credit, green insuran
ce and green securities have
been issued one after another. This paper analyzes the current situation of
China’s green financial system, the problems encountered in developing green
finance and how to develop green finance better.
Keywords
Green Finance, Environment, Development
1. Introduction
In September 2015, in the
Integrated
Reform
Plan
for
Promoting
Ecological
Progress
issued by the Communist Party of China (CPC) Central Committee
and the State Council, China identified the top-level design for establishing
China’s green finance system [1]. In December 2015, the G20 Green Finance
Study Group was established and started to study how to promote the develop-
ment of global green finance to mobilize more financial resources and speed up
the green transformation of the global economy driven by China’s initiative. In
March 2016, the
Thirteenth
Five-Year
Plan
for
Economic
and
Social
Develop-
ment
of
the
People
’
s
Republic
of
China
passed by the National People’s Congress
clearly proposed establishing a green financial system, developing green credit,
green bonds and establishing a green development fund [2]. Building a green fi-
nancial system has risen to be China’s national strategy. In August 2016, with the
approval of the State Council, seven ministries and commissions such as the
People’s Bank of China and the Ministry of Finance jointly released the
Guid-
ance
on
the
Construction
of
a
Green
Financial
System
, covering 35 articles in
How to cite this paper:
Peng, H., Lu, X.Q.
and
Zhou, C.B. (2018) Introduction to Chi-
na’s Green Finance System
.
Journal of Se
r-
vice
Science and Management
,
11
, 94-100.
https://doi.org/10.4236/jssm.2018.111009
Received:
January 26, 2018
Accepted:
February 24, 2018
Published:
February 27, 2018
Copyright © 201
8 by authors and
Scientific
Research Publishing Inc.
This work is licensed under the Creative
Commons Attribution
International
License (CC BY
4.0).
http://creativecommons.org/licenses/by/4.0/
Open Access
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