Interpretation of key policies
1.“Circular on Encouraging Home Appliance Manufacturers to Carry out Upgrade Target Responsibility System Actions” August 2021- National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Ecology and Environment
The Circular suggests that in encouraging home appliance manufacturers to carry out Green Responsibility upgrade targets; specific incentive policies and measures shall be formulated and introduced, and priority shall be given to supporting the transition and upgrade, innovation and development projects of responsible enterprises. Responsible enterprises that meet their recycling targets and relevant national management requirements shall be included in the "Green Responsibility List" of home appliance manufacturers, and be given priority support in the approval of green bonds and green credits. The targets and tasks committed to by responsible manufacturers will be evaluated and made public to the community.
2.“Implementation Plan on Accelerating the Establishment of a Sound Economic System for Green, Low-Carbon and Circular Development” August 2021- Gansu Provincial People's Government
The Implementation Plan calls for a green financial support system for accelerating the establishment of a sound economic system for green, low-carbon and circular development. Banking financial institutions are to be encouraged to formulate green financial development plans. The plan includes stepping up the assessment of financial institutions' green financial performance evaluation and carrying out evaluation of green credit performance of depository financial institutions in the provincial banking sector. The support system would promote the issuance of green financial bonds by eligible local financial institutions, and encourage local Gansu branches to include green industrial projects in the scope of green financial bonds supported by the head office. It would support eligible non-financial enterprises to issue green financing instruments; guide provincial insurance institutions to develop green agricultural insurance and environmental pollution liability insurance; support eligible green industry enterprises to go public and raise funds; support financial institutions and relevant enterprises to carry out green financing in the international market, and encourage and guide private investment and foreign capital to enter the field of climate investment and financing.
3.“Guangdong Province's Work Plan for Dual Control of Energy Consumption and Energy Intensity in 2021” July 2021- Guangdong Development and Reform Commission
The Work Plan mentions the need to create and improve supporting policies for green finance in order to achieve Guangdong's dual energy control targets by 2021. Guangdong Province should optimize its credit structure, strictly examine and approve financing applications for "two-high"[1] projects, and strictly manage the granting of credit to industries with overcapacity, outdated production capacity and "two-high" activities. The Plan will accelerate the innovation of financial products and services; strengthen the financing support for key energy-saving projects and technology promotion projects; and support provincial enterprises in eliminating outdated production capacity through mergers and acquisitions. It will vigorously develop green finance, further promote green credit and green bonds, and innovate green insurance and environmental equity trading financial products.
4.“Guidance on Accelerating the Development of Green Insurance in the Insurance Industry in Jiangxi Province” July 2021- Jiangxi Banking and Insurance Regulatory Bureau
This special document on green finance aims to guide and promote the rapid development of green insurance in Jiangxi's insurance industry. The Guidance points out that, around the strategic goal of carbon peaking and carbon neutrality, the development of green insurance should be part of deepening the structural reform of the financial supply side. The main tasks are to improve the professional organization system of green insurance; develop environmental protection, pollution restoration and ecological resources protection business; develop climate change risk management business; develop green industry support business; develop green production and living behavior guidance business; develop green investment business; establish a professional matching service mechanism; establish an information technology empowerment mechanism; establish a positive incentive guidance mechanism; establish a professional team cultivation mechanism and establish a public publicity and education program. And to strengthen organizational leadership, promotion and implementation and supervision leading guarantee measures to provide strong protection for the development of green insurance.
Summary of recent policies
This summary of policies covers: 1) Policies issued by four-level government agencies: state, provinces and ministries, prefectures and cities, and counties in Mainland China. 2) Policies involving green bonds, green credit, green equity, green insurance, environmental finance and monetary policy. 3) Policies released publicly by governments and mainstream media through the internet.
|
Jurisdiction |
Title |
Purpose |
Actor |
Publication Date |
Link |
|---|---|---|---|---|---|
|
Nationwide |
“Circular on Encouraging Home Appliance Manufacturers to Carry out Upgrade Target Responsibility System Actions” |
To innovate policy support for responsible manufacturers |
National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Ecology and Environment |
27 July, 2021 |
https://www.ndrc.gov.cn/xxgk/zcfb/tz/202108/t20210804_1293128.html?code=&state=123 |
|
Gansu Province |
“Implementation Plan on Accelerating the Establishment of a Sound Economic System for Green, Low-Carbon and Circular Development” |
Creating a green financial support system for the development of a green, low-carbon and circular economic system |
Gansu Provincial People's Government |
26 August, 2021 |
|
|
Guangdong Province |
“Several Measures to Promote Quality Development of the Construction Industry in Guangdong Province” |
Increasing Green Financial Support for High-Quality Development of the Construction Industry |
Guangdong Provincial People's Government |
16 August, 2021 |
http://www.gd.gov.cn/zwgk/wjk/qbwj/yfb/content/post_3476594.html |
|
Guangdong Province |
“Guangdong Province's Work Plan for Dual Control of Energy Consumption and Energy Intensity in 2021” |
Green finance supporting energy efficiency program |
Guangdong Development and Reform Commission |
14 July, 2021 |
|
|
HuangPu District, Guangzhou City, Guangdong Province |
“Notice on Declaration of <Guangzhou Development District Bank Loan Interest Subsidy and other Relevant Incentive Projects in the Second Half of 2021> in Huangpu District” |
Subsidize eligible green projects |
Guangzhou Development District Financial Work Bureau
|
13 August, 2021 |
|
|
Henan Province |
“Implementation Opinions of the People's Government of Henan Province on Accelerating the Establishment of a Sound Economic System of Green, Low-Carbon and Circular Development” |
Green finance supporting the economic system of green, low-carbon and circular development |
Henan Provincial People's Government |
18 August, 2021 |
|
|
Henan Province |
“Notice on the Implementation of the Three-Year Action Plan for Energy Saving and Carbon Reduction in Key Energy-using Units” |
Use green finance, including green credit, as a tool to increase investment in low-carbon transition |
Henan Resource Conservation and Environmental Protection Division |
26 August, 2021 |
|
|
Jiangxi Province |
“Guidance on Accelerating the Development of Green Insurance in the Insurance Industry in Jiangxi Province” |
Develop Green Insurance |
Jiangxi Banking and Insurance Regulatory Bureau |
27 July, 2021 |
|
|
Yunnan Province |
Implementation Rules of the Regulation on Promoting the Creation of a Leading Player in the Construction of Ecological Civilization in Yunnan Province |
Develop Green Financial services |
Yunnan Provincial People's Government |
20 August, 2021 |
http://www.yn.gov.cn/zwgk/zcwj/yzg/202108/t20210819_226623.html |
|
Qingdao City, Shandong Province |
“Guiding Opinions on Promoting the Development of Financial Technology” |
To promote the development of financial technology and support the development of green finance. |
People's Bank of China Qingdao Central Sub-branch |
27 July, 2021 |
http://www.huangdao.gov.cn/n10/n727/n5932/n5934/210727160342696648.html |
|
Leshan City, Sichuan Province |
“Implementation Plan for Building a Modern Environmental Governance System in Leshan” |
Strengthen the construction of ecological civilization and improve financial support. |
Office of Leshan Municipal Party Committee; Office of Leshan Municipal Government |
31 August, 2021 |
|
|
Wenzhou City, Zhejiang Province |
“Guiding Opinions on Financial Support for Common Wealth” |
To achieve the goal of common prosperity, broaden the financing channels of enterprises and strengthen the financial support. |
People's Bank of China Wenzhou Central Sub-Branch |
23 August, 2021 |
https://www.wenzhou.gov.cn/art/2021/8/19/art_1217828_59055840.html |
|
Lanzhou New District, Lanzhou City, Gansu Province |
“Implementation Plan for Piloting Green Insurance for Safety Production Liability in Chemical Industry Parks of Lanzhou New District (trial)” |
Develop Green Insurance |
Lanzhou New District Management Committee |
17 August, 2021 |
|
|
Pingtan County, Fuzhou City, Fujian Province |
“Work Plan for the Development of Financial Industrial Chain in Pingtan Comprehensive Experimental Zone” |
Deepen financial innovation |
Pingtan Comprehensive Experimental Zone Administrative Committee |
4 August, 2021 |
https://ptsb.pingtan.gov.cn/2021/20210722/20210722_001/20210722_001_4.htm |
[1] Two-high projects refer to projects with high energy consumption and high carbon emissions.