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중국의 녹색금융 발전전략과 주요내용(China’s Green Finance Strategy:the Policy and the Market )

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  • Moon , Jiyoung

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

  • Lee, Hyojin

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

Abstract

중국은 탄소중립을 실현하기 위한 녹색산업 발전에 녹색금융의 활용이 반드시 동반되어야 한다는 사실을 인지하고 있다. 2016년 이후, 세계에서 가장 빠르고 적극적으로 녹색금융 시장 형성을 추진하고 있는 중국은 현재 최대 녹색대출 시장을 보유하고 있으며, 미국 다음으로 큰 녹색채권 시장을 보유하고 있다. 중국은 녹색금융을 자국의 탄소중립 목표 달성을 위한 중요한 전략적 정책도구로 활용하고 있으며, 정부 주도하에 자국 녹색산업 발전 지원, 외자유치, 대외협력 확대 등 다양한 측면에서 녹색금융을 활용하고 있다. 이에 본 연구에서는 중국의 녹색금융 발전전략을 분석하고 한중 간 녹색금융 협력방안을 제시하였다. China is a leading nation in the area of green finance, deeply recognizing that carbon neutrality should be accompanied with green finance to boost development of the green industry and actively working to develop green financial markets. In 2016, China published the “Guidelines for Establishing the Green Financial System,” which provides core guidelines for establishing the domestic green financial market. These guidelines define the concept of green finance in China, namely as providing financial service to support projects such as for environmental protection, renewable energy development, and green infrastructure construction for response to climate change and efficient use of resources in economic activities. Viewing green finance as an important strategic policy tool for China to achieve its carbon neutrality goal, this research explores China‘s green finance strategy in terms of policy establishment and market formation, the tools for supporting domestic green industry development, and global cooperation, while also aiming to provide suggestions for Korea-China cooperation in the green finance field. Chapter 2 studies China’s policy establishment and market status in terms of green loan and bond markets, which are the main components of China’s green finance market. China’s green loan market is largely operated by state-owned banks and some large commercial banks as major players. These provide loans for domestic green projects to boost China’s green economy development. The support provided by these banks has increased the size of China’s green loan market to over 15.9 trillion RMB, making it the largest market in the world in 2021. China’s green bond market, as well, is one of the largest in the world. Its size recorded 1.56 trillion RMB in 2021, and according to the Climate Bond Initiative it is the second largest green bond market in the world after the United States. In China’s green bond market, local governments and corporations act as major suppliers of green bonds. According to the issuance type and purpose of use, China’s green bonds can be classified into various categories including finance bonds, intermediate bills, commercial bills, corporate bonds, and enterprise bonds. (the rest omitted)

Suggested Citation

  • Moon , Jiyoung & Lee, Hyojin, 2022. "중국의 녹색금융 발전전략과 주요내용(China’s Green Finance Strategy:the Policy and the Market )," Policy Reference 22-5, Korea Institute for International Economic Policy.
  • Handle: RePEc:ris:kiepre:2022_005
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    Keywords

    금융정책; 자본시장; 중국의 녹색금융 발전전략; Financial policy; capital market; Chinas green finance development strategy;
    All these keywords.

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