我国成全球最大绿色债券市场

Core Viewpoint - China's green bond market has transitioned from "scale expansion" to "quality and efficiency improvement" [3] Group 1: Market Performance - Global green bond issuance has decreased by 11% year-on-year to $506 billion, while China's green bond issuance has increased by 92% to $101.8 billion, accounting for 20% of the global market [3] - From 2016 to 2024, the issuance scale of China's green bonds grew from 201.8 billion RMB to 683.3 billion RMB, with an average annual growth rate of 16.5% [5] - The total outstanding scale of green bonds in China increased from 2,039 billion RMB to 21,621 billion RMB, with an average annual growth rate of 34.3% [5] Group 2: Innovation and New Products - There has been a strong growth in innovative green bond varieties, with transition bonds seeing a year-on-year increase of 53.6% in 2024 [8] - New products such as sustainable development-linked bonds and low-carbon transition-linked bonds are significantly supporting high-carbon industries [8] - The issuance of green rural revitalization bonds accelerated in Q3 2025, reaching 20.725 billion RMB, marking a historical high for quarterly issuance [8] Group 3: International Influence and Standards - The scale of green bonds held by foreign institutions in China increased from 200 million RMB to 31.88 billion RMB from 2016 to 2024, with an average annual growth rate of 40% [11] - China's green bond standards are closely aligned with international capital market standards, making them an important reference for ESG investments [11] - The report suggests enhancing the sustainable bond standard system and improving information disclosure standards to boost international influence [12]