Core Viewpoint - The article emphasizes the significant growth and transformation of green finance in China's banking sector, driven by the national "dual carbon" goals and the increasing focus on environmental, social, and governance (ESG) factors in financial services [1][2]. Group 1: Growth of Green Loans - China's green loan balance reached 36.6 trillion yuan by the end of last year, marking a year-on-year growth of 21.7%, which is 14.5 percentage points higher than the overall loan growth rate, with an annual increase of 6.52 trillion yuan [2]. - Major banks, including the six largest state-owned banks, reported a combined green loan balance exceeding 20 trillion yuan for 2024, with double-digit growth rates [2]. - Industrial and Commercial Bank of China (ICBC) led with a green loan balance surpassing 6 trillion yuan, adding over 1 trillion yuan during the reporting period [2]. Group 2: Sector-Specific Lending - Commercial banks have increased credit support for green buildings and renewable energy sectors, with ICBC reporting a green building mortgage balance of 549.01 billion yuan, up by 216.83 billion yuan [4]. - China Bank established partnerships with numerous new energy vehicle companies, with credit balances exceeding 200 billion yuan [4]. - The balance of new energy vehicle loans at Shanghai Pudong Development Bank reached 33% of its total auto loan balance, an increase of 11.2% from the beginning of the year [4]. Group 3: Innovation in Green Financial Products - The Chinese government has called for the expansion of green financial tools, extending the implementation period for carbon reduction support tools until the end of 2027 [5]. - ICBC has innovated by using various collateral types for low-carbon development financing, while Industrial Bank issued carbon reduction loans totaling 83.207 billion yuan [6]. - Agricultural Bank of China issued the first "two new" green debt financing tool, with a total underwriting of green bonds reaching 120.6 billion yuan [7]. Group 4: Diversification of Green Financial Services - A multi-faceted green financial service system is emerging, encompassing green bonds, funds, investments, insurance, and wealth management [6]. - ICBC has issued 110 billion yuan in green financial bonds, becoming the largest issuer in the domestic market [6]. - Wealth management subsidiaries of banks are actively participating in the ESG and green investment markets, with ICBC Wealth Management's green bond investment balance growing over 50% [8].