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MNI BRIEF: PBOC Should Consider Buying Green Bonds: Advisor

MNI (Singapore)

The People's Bank of China should consider directly buying green bonds and help create sufficient liquidity that helps local authorities raise green bonds, said Wang Xin, director-general of PBOC's Research Bureau on Saturday.

The central bank should also recognize municipal green bonds as qualified collaterals for monetary tools to encourage credit expansion, Wang said during the 12th Caixin Summit.

"These are measures that can be studied in-depth and introduced accordingly," said Wang. Central banks of some countries will use foreign exchange reserves, or employee pensions to invest in green bonds, Wang added.

The PBOC should formulate the standards of green bonds, strengthen information disclosure, as well as evaluate financial institutions on their underwriting of green bonds, according to Wang.

China's outstanding green bonds total around CNY1 trillion to date, and it can be vastly boosted given that green loans totaling CNY14 trillion, Wang added.

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