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China's central bank issues 100 bln yuan in Green Bonds


09-01-2016 00:24 BJT

Full coverage: G20 Hangzhou Summit

The concept of environmentally friendly finance -- or green finance -- is still new to most people. To raise awareness and push the industry forward, China has included "Green Finance" as an item for discussion at this year's G20 summit in Hangzhou. The People's Bank of China has also recently issued 100 billion yuan in so-called "green bonds."

"The yield rate of a Green project is usually lower than the average market rate. That's why a lot of private investors don't want to get involved. Given these circumstances, we have to provide discounts, guarantees, or re-lending options to lower the cost of financing -- in order to raise their yields. We have issued about 100 billion yuan worth of Green Bonds to support the industry's long term need for capital -- in order to help fully develop the market," said Chen Yulu, deputy governor of People's Bank of China.

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