(China in the past ten years) Chief Look at the Economy: Green Finance "From False to Real", China's Carbon Market Starts Steadily
China News Agency, Beijing, August 15 (Reporter Xia Bin) More than ten years ago, the "Green Credit Guidelines" came out, and the banking financial institutions were "regulated" for green credit, and the development of China's green finance entered a new era.
"In the past ten years, China's green finance has entered a stage of 'from virtuality to reality'." Political commissar Lu, chief economist of Industrial Bank and Huafu Securities, said in an exclusive interview with China News Agency that early financial institutions do green finance , more from the perspective of corporate image and advertising, and after the "dual carbon" goal was put forward, policy support and institutional systems have been continuously improved, so that many green technologies and green projects have independent commercial profitability. The banking industry has provided a solid foundation for further promoting green finance.
Data shows that as of March 2022, China's green loan balance has exceeded 18 trillion yuan (RMB, the same below), with rapid growth.
The balance of green bonds in China is about 1.3 trillion yuan, ranking among the top in the world.
When it comes to green finance, Lu political commissar believes that green industry should be discussed first.
"Green finance is the flower that blooms in green industry. Without green industry, money doesn't know where to put it."
Political commissar Lu said bluntly that he hopes that China can "turn early" and "turn quickly" in green transformation, and form and consolidate technological and industrial advantages. At present, some of our commercialized green technologies are in the forefront of the world, and this is inseparable from promising Joint efforts of government and efficient market.
"The key is to solve the problem of how to make money by investing money in. That is to let green technology establish a profit model. Here, the state needs to give clear policies, so that the industry can enter the stage of economies of scale as soon as possible, reduce costs and increase profits, and institutional mechanisms are also needed. reforms, such as improving the peak and valley electricity price system, etc.” said Lu political commissar.
In his view, actively promoting carbon neutrality will help China seize the historic opportunity of the new round of industrial revolution.
Observing the first and second industrial revolutions, both had a very significant impact on the global political and economic pattern and the development of industrial science and technology. According to the current industry discussion and analysis, information technology, green technology, and life engineering technology will lead the third The wave of the industrial revolution.
"Observing history, we can find that each round of long-term technological cycle will bring about the rise and fall of world powers." Political commissar Lu said that China must seize the opportunity of the third industrial revolution, and the country needs to establish effective guidance in the early stage. Drive the entire social investment flow to the above areas.
He believes that the market is never afraid to spend money, but is afraid that there is no place to spend it. The development of green technology will promote a new industrial revolution, and the entire economic development model will usher in a reborn change. This extensive and profound economic and social systemic change A lot of investment is required, and as long as the policies and reforms are in place, there is no need to worry about funding.
As a landmark product of China's green transformation, the national carbon market has been online for more than a year. In its first year of operation, the cumulative transaction volume of carbon emission allowances (CEA) was 194 million tons, with a cumulative transaction value of 8.492 billion yuan.
Political commissar Lu said that the carbon market has started smoothly. In the future, more industries should be considered, and institutional and individual investors should be allowed to participate in order to increase market activity and develop carbon financial derivatives including futures in a timely manner. products, increase the types of trading varieties, and enrich risk management tools.
In order to promote green transformation, Chinese officials have made a series of policy arrangements.
As of July 13 this year, a total of 182.7 billion yuan of carbon emission reduction support tools has been issued, and banks have supported 304.5 billion yuan in loans in the field of carbon emission reduction, driving the reduction of carbon emissions by more than 60 million tons.
The special re-loan for clean and efficient utilization of coal has supported banks to issue low-cost loans of 43.9 billion yuan to enterprises.
Political commissar Lu said that the launch of the carbon emission reduction support tool has released a clear direction and signal, but it must also be considered that green projects often have a long cycle, and the follow-up re-lending tool should also be supported by matching policies, such as facilitating the extension period.
He also reminded in particular that considering China's basic national conditions and the need for stable economic development, the policy tools innovatively formulated in the process of advancing the "dual carbon" goal should also "take care" of some existing high-carbon emission projects, such as steel, glass, Chemical industries, etc., to support the “carbon reduction” of such projects, may consider launching finance that focuses on the role of green transformation, but it is also necessary to prevent the problem of “green washing”, and enterprises that receive transformation support should make relevant information disclosure.
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