Two Chinese banks win rights to issue 100 bln yuan in green bonds

27 January 2016 – China Industrial Bank and the Shanghai Pudong Development Bank have become the first financial institutions to be awarded quotas from the government to issue green bonds in the Chinese interbank market to raise money to invest in green projects. The two banks are allowed to raise 50 billion yuan ($7.6 billion) each in funds that can be invested in projects that reduce carbon emissions, improve energy efficiency, or address water and air pollution problems.

This Wednesday (Jan 27), Shanghai Pudong Development Bank already issued the first green bond of 20 billion yuan.