“十五五”首席观察｜专访王遥：“稳增长”与“降碳”并非取舍而是一体两面

Core Insights - China's green finance has transitioned from scale expansion to system improvement, achieving a significant leap as it approaches the end of the 14th Five-Year Plan and plans for the 15th [1] - By the end of Q3 2025, the balance of green loans reached 43.51 trillion yuan, a year-on-year increase of 22.9%, maintaining a growth rate above 20% for nearly five years [4][5] - The 15th Five-Year Plan period is crucial for balancing economic growth and carbon reduction, emphasizing the need for a modern financial system to support green low-carbon transitions [6][8] Development Achievements - China's green finance has made notable achievements in scale, systemic improvement, innovation, and international influence [4][5] - The top-level design of green finance has been continuously improved, with updated support project directories providing precise guidance for financial institutions [4] Future Breakthroughs - Future breakthroughs in green finance should focus on four areas: direction, path, model, and foundation [1][6] - Emphasis on deepening transition finance and expanding natural financing to fill critical funding gaps [6] - The integration of technology to enhance project identification and risk management is essential [7] Policy Recommendations - A consistent and transparent policy framework is necessary to guide financial institutions and market participants towards green activities [11] - The government should leverage fiscal funds to support strategic energy infrastructure and long-term green technology development [11] International Collaboration - The "Belt and Road" green investment principles should be enhanced to facilitate international cooperation and attract long-term capital for domestic green projects [14][15] - Establishing a cross-border risk prevention system and optimizing foreign investment access to green projects are critical [15] Market Dynamics - The integration of green finance with technology and inclusive finance is vital for expanding service scenarios and enhancing the social foundation for green transitions [7][12] - The focus should be on supporting traditional high-carbon industries in their transition to low-carbon technologies [13]