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China boosts green efforts around world


China will promote cross-border green bond flows and green finance investment as part of efforts to fulfill its commitment to ensure sustainable growth, a top central bank official said on Sept 4.

Some efforts include launching a carbon market by the end of this year and promoting green infrastructure construction related to the Belt and Road Initiative.

China has demonstrated strong leadership in building and developing a green bond market as a key element of accelerating the transition to a green economy. From 2016 to July 2017, the total issuance of green bonds in China reached 324 billion yuan ($48 billion), representing 30 percent of the total bonds issued in the global market during the same period, according to a green finance report issued on Sept 4 by the UK-China Green Finance Taskforce.

As part of the initial steps, China and the United Kingdom will establish a uniform set of standards at the regional level, building an investor alliance for the Belt and Road Initiative in order to help member organizations invest in related project.

The alliance will issue guidelines for projects helping investors better understand and manage environmental risks.

Source:China Daily


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