MNI BRIEF: Bejing City to Raise Green Capital in Hong Kong

The city of Beijing and Hong Kong authorities will deepen cooperation in green finance to attract international investors and strengthen China’s decarbonization efforts, officials and policy advisors said on Monday at the Beijing-Hong Kong Economic Cooperation Symposium.

Wang Xin, the director of the research bureau of the People's Bank of China, said the two cities can work closely to raise funds for China’s green projects and promote yuan internationalization in the process, noting total green bonds issued in HK surpassed over USD35 billion as of Dec. 31, 2020.

A focus for HK now is packaging china’s green assets with a unified standard for foreign investors and introducing foreign institutions to sell green bonds in the domestic market, said Ma Jun, the head of the Institute of Finance and Sustainability. The PBOC should expand its new green lending tool, introduced last month to facilitate green lending, to support China’s overseas projects incluidng the Belt and Road Iniative, Ma said.