Recently, our city issued the "Implementation Opinions on Accelerating the Development of Green Finance". The "Opinions" were led by the People's Bank of Yangzhou City Center Branch, and jointly formulated with the Municipal Financial Supervision Bureau, Development and Reform Commission, Industry and Information Technology Bureau, Ecological Environment Bureau and other departments, setting up a "framework" for the long-term development of green finance in our city.
Green finance refers to economic activities that support environmental improvement, response to climate change, and resource conservation and efficient use, that is, financial services provided for project investment and financing, project operation, and risk management in the fields of environmental protection, energy conservation, clean energy, green transportation, and green buildings.
The "Opinions" clarified the scope of support for green finance, and will study and formulate the "Yangzhou Interim Measures for the Identification of Green Enterprises" and "Yangzhou Interim Measures for the Identification of Green Projects" to build a green financial service platform to promote the exchange of information and financing between banks and enterprises. Encourage banking institutions to establish green finance business units, green branches (sub-branches) and other special green finance institutions, guide and support micro-loans, financing guarantees, credit rating institutions and other institutions to develop green finance business, and enrich and improve the green financial organization system. Actively connect with the People's Bank of China's carbon emission reduction support tools, and guide financial institutions to increase green credit support and reduce the cost of green credit financing through structural monetary policy tools such as refinancing and re-discounting. Encourage and support the listing and refinancing of green enterprises, establish and improve green business incentive and restraint mechanisms, and provide appropriate discounts and rewards support for green loans, green bonds, and green guarantees for qualified green enterprises (projects).
The "Opinions" put forward that banking institutions are encouraged to actively research carbon financial products related to carbon emission rights, innovate and promote water rights, energy use rights, and contract energy management income rights and other collateralized loan products. Promote innovative financial products such as carbon neutral bonds and sustainable development-linked bonds, develop green insurance and green financing guarantees, explore the establishment of green development funds, and drive social capital to support the development of green industries. Establish and improve the green finance risk early warning mechanism, actively and steadily do a good job in risk resolution and disposal, and promote the sustainable and healthy development of green finance.
It is reported that since the beginning of this year, the People’s Bank of Yangzhou Center Branch has insisted on putting green finance as the top priority, and has promoted the “digitalization update of green finance to promote the construction of a good place in Yangzhou” as a key reform and innovation project, and the city's green credit achieves rapid growth. As of the end of September, the city’s green credit balance was 52.469 billion yuan, an increase of 15.062 billion yuan from the beginning of the year, a year-on-year increase of 45.4%, ranking the forefront of the province. From January to September, the city has handled a total of 228 million yuan of green re-discounting, supported 6 enterprises, issued green re-loans of 105.52 million yuan, and supported 42 green factories and clean energy enterprises, effectively reducing the financing costs of green enterprises. At the same time, it vigorously promoted the implementation of innovative products. Gaoyou Rural Commercial Bank and Jiangdu Rural Commercial Bank formulated the "Measures for the Management of "Pollution Right Mortgage" Loans (Trial)", and the first batch of 4 million yuan of pollution right mortgage loans has been successfully issued.