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"Green into gold" innovation

2018/4/24

      With the zhejiang, jiangxi, guangdong, guizhou, xinjiang five provinces (area) the establishment of green financial innovation experimental zone, green finance in our country has been designed by the top into the stage of innovation practice.

      Since entering "much starker choices-and graver consequences-in", green systematic financial scale, and accelerate the development of our country, market scale expands rapidly, participate in subject, involving industry and constantly enrich financial instruments.Figures show that as of June 2016, 21 major banking financial institutions green credit balance of 7.26 trillion yuan, accounting for 9.0% of all loans.In 2016, our country green bond issuance totaled 209.519 billion yuan, accounting for global issuance nearly 4 into.

      Noteworthy is that the industrial structure between different regions in China, development goals, financial market development and the ecological environment and resources there are significant differences, characteristics and the problems encountered in the process of green financial system construction is different.In the five provinces and regions construction each have emphasize particularly on, each has its own characteristics of green financial reform and innovation experimental zone, exploring in systems and mechanisms can be copied, can promote the experience, undoubtedly has important promoting role.

      At present, China's green financial system construction are moving into deep waters, increasing demand for mechanism innovation.On the one hand, green finance to support the green environmental protection and resource conservation as the breakthrough point, to supply side structural reform, to innovation and development capacity, industry, urbanization and pratt &whitney poverty alleviation policy aims to provide the support;On the other hand, the market scale, competition is intense, lead to the differentiation of industrial development, market structural risk.And at the same time, the government financial pressure is built up, further by greatly subsidized green space is limited in financial markets.To be sure, through the local innovation pilot, to explore the different propulsion way, faster and better promote the whole process of the construction of the green financial system in our country.

      And, more importantly, in the economic growth, pure through the fiscal and taxation means to promote the green space is very limited under the background of financial development, innovation mechanism and means of direct market forces spontaneously into green finance, is the fundamental way out.It also makes the next green reform experimental zone will launch what innovative initiatives, especially how to further green finance business for commercial Banks and other financial institutions to set lower risk weighting, improve green attractive assets, encourage financial institutions to participate in the construction and development of green finance, more concern and expectation.

      And in the micro level, as the dominant force in green finance, commercial Banks how to improve the support for the whole green industrial chain and service, thus in greater breadth provide support for the green economy development of our country, undoubtedly will be the future focus of innovation, whether "green into gold" is in the second half of the heart.