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China Green Credit Book by China Banking Association (CBA) 责任编辑：李 融 董 飞 责任校对：李俊英 责任印制：程 颖 图书在版编目（CIP）数据 绿色信贷：2018版：英文/中国银行业协会，东方银行业高级管理人员研修 院编著. —北京：中国金融出版社，2018.1 ISBN 978-7-5049-9376-2 Ⅰ. ①绿… Ⅱ. ①中…②东… Ⅲ. ①商业银行—信贷管理—研究—中 国—英文 Ⅳ. ①F832.4 中国版本图书馆CIP数据核字（2018）第318521号 出版 发行 社址 北京市丰台区益泽路2号 市场开发部 （010）63266347，63805472，63439533（传真） 网 上 书 店 http://www.chinafph.com （010）63286832，63365686（传真） 读者服务部 （010）66070833，62568380 邮编 100071 经销 新华书店 印刷 尺寸 169毫米×239毫米 印张 字数 420千 版次 2018年1月第1版 印次 2018年1月第1次印刷 定价 86.00元 ISBN 978-7-5049-9376-2 如出现印装错误本社负责调换 联系电话（010）63263947 Expert Steering Committee Director: Wang Zhaoxing Associate Director: Cao Yu Zhu Shumin Invited Consultant: Hu Deping Wu Xinmu Committee Member: Liu Chunhang Pan Guangwei Yang Zaiping Wang Yongsheng Li Ruogu Yi Huiman Zhang Yun Chen Siqing Zhang Jianguo Peng Chun Lv Jiajin Zhu Xiaohuang Li Qingping Tian Huiyu Zhao Huan Zhu Yuchen Fan Dazhi Li Renjie Shao Ping Li Mingxian Luan Yongtai Liu Xiaochun Zhao Shigang Zhang Dongning Jin Yu Zhu Dashu Huang Junmin Bai Ping Hou Funing Mo Ruzhan Ge Ganniu Xie Ping Gu Shu Pan Yuehan Wang Zuji Liu Xinyi Yao Ming Zheng Wanchun Ma Teng Zhang Jianhua Tao Yiping Guo Shibang Liu Jiade Wang Zhangang Fu Gang Huang Tao Ji Ming Chen Jianmin Wang Tao Jin Jianhua Xu Tianwei Compilation Committee Chief Editor: Tian Guoli Associate Editor: Liu Chunhang Pan Guangwei Yang Zaiping Consultant: Bie Tao Chief Specialist: Ye Yanfei Compiling Staff: Lu Hanwen Li Jing Xu Jie Huang Qiong Li Shuo Yu Wenzhuo Cheng Zeyu Li Zhenzhen Shu Lan Ye Xu Zhang Qi Dong Li Huang Yingjun Wei Wei Cheng Feng Yue Changsuo Wang Lili Ding Yan Xiao Jun Li Yue Tian Jianming Cui Xisu Song Erxin Liang Dingyun Xu Jin Zhao Zhigang Yan Min Liu Yanfei Chen Yu Wu Tianxiao Huang Shihua He Xin Zhao Guangzhi Chen Dong Guo Peiyuan Cai Yingcui Liu Yujun Reviewer: Ye Yanfei Bie Tao Li Xiaowen Fang Li Chen Ming Yun Fei Lu Hanwen Wei Xuekun Luo Shiyi Guo Chengbao You Ming He Wenfeng Zhou Boting Guo Chengbao Yan Jiongzhi Fu Wei Li Liang Wang Wei Fang Min Lin Xin Chen Xiaoqian Zhang Yuehong Wang Fang Cai Mengqi Zhang Rong Yuan Wei Sun Yiting Zhang Jianwei Xu Jianhua Dong Li Zhang Xiaonan Yao Jiabin Deng Aibing He Jun Peng Zuogang Rui Changyong Huang Wenbing Li Ziyu Zhang Xiaosong Zhen Guangming Yang Yuerong Huang Xia Yan Jiongzhi Wu Tianxiao Wang Yifeng Luo Jiexuan Geng Wenlong Leng Xuefei Shao Weiyun Xu Maomao Zhu Huichong Zhou Aiguo Jin Dong Lin Wenxuan Zhuang Shengyu Huang Runzhong Hu Zhongfu Zhang Fang Bai Ruiming Zhang Liang Gu Rui Zhou Gengqiang Guo Sanye Zhao Meng Jin Shuying Du Gang Wan Xiqing Zhang Yanping Feng Pengpeng Wang Xiao Song Xuyi Du Gang Wang Xiqing Zhang Yanping Zhang Chun Wu Jingri Preface Preface Faced with increasing resource constraints, severe environmental pollution and a deteriorating ecosystem, the Central Committee of the Communist Party of China and the State Council highly valued the development of green finance, and successively issued framework documents in recent years, such as the Opinions on Accelerating the Development of Ecological Civilization and the General Plan for the Reform for Promoting Ecological Progress to guide and lead the ecological progress. The said documents clearly put forward the strategy for establishing China’s green finance system for the first time and clarified the due diligence and liability exemption requirements as well as the legal liability of environmental protection of lenders. In 2017, General Secretary Xi Jinping addressed in his report at 19th National Congress of the Communist Party of China that China will develop green finance to promote green development, to speed up reform of the system for developing an ecological civilization, and to build a beautiful China. In 2016, green finance was incorporated into the Outline of the 13th Five-Year Plan and became a key field to promote during the “13th Five-Year Plan” period. The Twenty-seventh Meeting of the Central Leading Group for Comprehensively Deepening Reforms chaired by General Secretary Xi Jinping pointed out that developing green finance is not only an important approach to achieve green development, but also an important content of the supply-side structural reform. More 1 Green Credit social capital should be guided and encouraged to invest in the green industry through innovative financial institution arrangements, and effectively restrain polluting investment. The financial instruments including green credit and the relevant policies should be used to serve the green development. The meeting examined and adopted the Guidelines for Establishing the Green Financial System. The said guidelines were issued by the People’s Bank of China, the Ministry of Finance, the National Development and Reform Commission (“NDRC”), the Ministry of Environmental Protection (“MEP”), the China Banking Regulatory Commission (“CBRC”), the China Securities Regulatory Commission and the China Insurance Regulatory Commission. This is the first time that the said seven ministries and commissions jointly issued a document on green finance, which is also a framework document for developing green credit business. The National Financial Work Conference held in July 2017 also lay stress on encouraging the development of green finance and green credit, and giving priority to the green, recycling and low carbon industries in the allocation of social resources by applying financial measures, which will not only restrain the expansion of high pollution and high energy consumption industries and enterprises involving backward production capacity, reduce the excess production capacity in traditional industries and promote the development of emerging industries, but also be the important content and a starting point of the supply-side structural reform. In 2012, the CBRC issued the Green Credit Guidelines, which clearly and comprehensively define the green credit from product innovation, risk management and financial institutions’ environmental 2 Preface and social performance. The Green Credit Guidelines require banks to promote green credit from a strategic prospective, to enhance the support for a green, low-carbon and recycling economy, to prevent and mitigate environmental and social risks, and to raise their own environmental and social performance in order to optimize the credit structure, improve the service level and advance the development transformation. Later, the CBRC successively issued the Green Credit Statistics System and the Key Performance Indicators of Green Credit Implementation, which aim to comprehensively track the progress and impacts of green credit implementation by banks via assessing statistical reports, key performance indicators and self-assessment reports, and to set out social responsibility indicators in the Regulatory Guidelines for Performance Appraisal of Banking Financial Institutions. Since the CBRC issued the Green Credit Guidelines in 2012, major banking financial institutions in China have been responding actively and gradually establishing an effective mechanism to promote green credit and environmental and social risk management; the green credit shows a rapid growth trend. In 2014, 29 banks signed the Joint Commitment to Green Credit by the Chinese Banking Industry, which put forward five commitments, namely, fostering a green credit concept, facilitating the innovation of green credit products and services, improving the classification management of environmental and social risks, setting up a green credit measurement system and reward and punishment mechanism, and attaching importance to own environmental and social performance. According to preliminary statistics, as at the end of June 2016, the balance of green credit of China’s 21 major banking financial institutions amounted to RMB 7.26 3 Green Credit trillion, accounting for 9.0% of the total loans; and the green credit projects were expected to save 187 million tons of standard coal, 623 million tons of water and reduce 435 million tons of CO2 emission every year. In 2016, during the period when China took the chair at the G20 Summit, the G20 Green Finance Study Group was set up. It was the first time to include green finance in the discussion topics of the G20 Summit, leading the international community to pay more attention to the support of sustainable development by green finance than ever before. Leaders of every country attending the G20 Summit offered their support to a series of suggestions on green finance development proposed by the G20 Green Finance Study Group, and wished that the Sustainable Banking Network (“SBN”) could play a leading role in the implementation process. The SBN, initiated by the International Finance Corporation (“IFC”) and the CBRC at the first International Green Credit Forum in 2012, is a knowledge exchange platform for banking regulators and industry associations aiming to help them develop green credit policies and environmental and social risk management guidelines. The CBRC is the permanent president of the SBN, while the China Banking Association and the MEP are members of the SBN. The CBRC and the IFC jointly developed a platform for internet communication on green credit, actively promoting the interaction between regulatory authorities and financial institutions of every country on green credit. As of August 2017, the number of countries joining the SBN has increased to 32, accounting for 85% of the total assets of banks in the emerging markets, and the SBN members may play a decisive role in 4 Preface driving sustainable development. As China is the biggest developing country, to develop green credit and green finance is the unshirkable responsibility of China and is of great significance. In recent years, China has always been practicing in the fields of green credit and green finance, and exploring the policies and mechanisms suitable for local places when studying the advanced experience of developed countries. In 2014, the China Banking Association organized the preparation of the textbook of Green Credit in Chinese, which is the first book about green credit of the China banking industry in the world.
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