Focus on Arts and Ecology

Loose regulatory requirements for the use of funds is holding back the development of green finance in China, reports Caixin. “China's green financing system has achieved initial success, but it is still facing many issues,” said Zhou Xiaochuan, deputy director of the Boao forum for Asia and former governor of the People's Bank of China, speaking at the 2018 Annual Conference on Sustainability, which was hosted by the Paulson Institute and the China Center for International Economic Exchanges.

Hank Paulson, the former US Secretary of the Treasury, also noted that while Chinese institutions have made significant green investments, there is still no verifiable, rational and transparent definition of “green”. Paulson claimed that setting a higher standard on green bonds and green investment should be China’s next move. “Ultimately, the Chinese government needs to make a decision,” he said.