China to ease domestic market access for foreign investors, says PBOC official
China will make it easier for international investors to access the country's green finance market by promoting the harmonization of domestic and global green standards as part of its efforts to achieve net-zero emissions by 2060, central bank officials said on Tuesday.
The green finance industry in China needs to learn from the asset management experiences of foreign investors, such as multinational pension funds and insurance companies. Large capital injections are also needed to finance many green and low-carbon projects, said Wang Xin, head of the research bureau of the People's Bank of China.
The PBOC defines "green finance "as economic activities that can support the improvement of the environment, tackle climate change challenges, and effectively use and save resources. It also refers to financial services for project investment and financing, project operation and risk management in environmental protection, energy conservation, clean energy, green transportation, green building and other fields.
Regulators are working on streamlining the green finance standards, making them much closer to the international level, as well as enhancing information disclosure. These measures will make foreign investment easier in a more transparent environment, said Ai Ming, deputy head of the international department of PBOC.
Ai said the central bank will improve investment standards for the domestic interbank and exchange bond markets in the next step....
"We expect more detail in 2021. The policy paths will provide insight into long-term economic effects."
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Source China Daily
http://global.chinadaily.com.cn/a/202102/10/WS602317b7a31024ad0baa86c0.html