Empowering entities to point green into gold
Quanzhou City issued a three-year action plan for financial services green economy industry
A few days ago, the Municipal Financial Supervision Bureau, the Municipal Bureau of Industry and Information Technology, the Quanzhou Central Sub-branch of the People’s Bank of China, and the Quanzhou Banking and Insurance Regulatory Bureau jointly issued the “Three-Year Action Plan for the Green Economy Industry of Financial Services in Quanzhou”, proposing the implementation of the improvement of the green financial organization system, green credit There are five major projects including increasing households and expanding coverage, innovation and optimization of green financial services, expansion of green capital markets, and cultivation of typical green finance demonstrations, striving for an annual growth rate of green financing balance not lower than the average growth rate of various loans, and adding at least 3 new green companies to the market. Listing financing.
Quanzhou will explore and carry out the evaluation and identification of green enterprises and green projects, establish a project database, and select enterprises and projects to form a list of green financing entities in the city, as an important basis for determining loan credit, credit discounts and policy preferences for green financing entities. Support banking institutions to set up green finance business departments in accordance with the “one bank, one characteristic” model, and promote the innovative development of green finance business by local corporate financial institutions. Strive to carry out at least 15 “bank-enterprise green financing docking activities” at the city and county levels every year to promote the normalization of green financing docking. Support and promote banks, insurance, futures and other financial institutions to increase green business cooperation, and coordinate the development of cross-cutting green financial products such as “insurance + futures”, “credit + insurance” and “credit + funds”. Explore the financing of environmental rights and interests such as emission rights, energy use rights, and carbon sinks. Establish a resource pool for green listed companies and provide key guidance and training.
Quanzhou City encourages eligible counties (cities, districts) to speed up the issuance of special bonds for rural revitalization and carbon-neutral bonds. For enterprises that issue carbon neutral bonds and other green corporate bonds to finance, and the bond interest rate is higher than the current five-year market quotation rate, the higher part will be subsidized by the beneficiary finance. Explore and promote the joint establishment of green funds by state-owned capital, financial institutions, private equity funds, and social capital to support energy conservation and emission reduction, ecological construction, and the development of green economy industries. Promote financial institutions to participate in various “carbon trading” investment, financing and intermediary service activities, innovate forestry financial products, vigorously develop forestry carbon sinks, and promote the reform of forestry assets and equity securitization. Encourage financial institutions to issue green financial bonds such as green credit ABS and green asset-backed bonds. Explore and formulate a statistical indicator system for green financial financing in Quanzhou, build a unified statistical caliber of green financing including on-balance-sheet financing, off-balance-sheet financing and direct financing, and provide a scientific basis for evaluation activities such as the selection of green financial demonstration institutions.
With the help of green finance, the Quanzhou industrial fixed investment (green economy) project has gained new impetus for development. This year, Quanzhou plans to implement 108 green economy projects with a total investment of 43.7 billion yuan. The planned investment in 2022 is 13.7 billion yuan. By the end of May, an investment of 5.9 billion yuan has been completed. (Wang Shufan, reporter of Quanzhou Evening News)