中欧《共同分类目录》贴标绿色债券存量规模近3500亿元 风力发电成为主要资金投向

Core Insights - The total number of green bonds in China's interbank market that meet the EU's "Common Classification Directory" is 517, with 305 currently active, amounting to a total scale of 349.249 billion yuan [1][2] - In December 2025, 14 new green bonds were issued, totaling 15.35 billion yuan, with 12 already certified as compliant with the "Common Classification Directory" [1] - The majority of existing green bonds (93.2%) have an AAA credit rating, while the remaining ratings are distributed among AA+, AA, and unrated bonds [2] Group 1 - As of December 31, 2025, the scale of active green bonds in China is 349.249 billion yuan, representing 25.3% of the total number of green bonds in the interbank market [1][2] - The new green bonds issued in December 2025 include notable ones like "25 Huaneng Hydropower GN012" and "25 Three Gorges GN010," with individual issuance sizes ranging from 100 million to 2 billion yuan [1] - The ongoing labeling work for green bonds reflects the deepening alignment of China's green bond market with international standards and the standardization of information disclosure [2] Group 2 - The primary allocation of funds from existing green bonds is directed towards wind power (25.0%), urban and rural public transportation systems (22.2%), and hydropower (20.1%), collectively accounting for nearly 70% of the total funding [2] - The "Common Classification Directory" aims to enhance the transparency and comparability of green financial products, facilitating cross-border green capital flows [2]