China Pilot Zone for Green Financial Reform and Innovation

Establishing the national green financial reform and innovation pilot zone is an important measure to promote the comprehensive development of green finance in China, and it is an organic combination of “top-down” policy promotion and “bottom-up” reform and innovation. In June 2017, the 176th Executive Meeting of the State Council approved the establishment of green financial reform and innovation pilot zones in five provinces, including Zhejiang, Guangdong, Guizhou, Jiangxi, and Xinjiang. In recent years, the green financial reform in ten cities of seven provinces (autonomous regions), has formed a series of experiences that can be replicated and popularized. The valuable reform experience of all regions not only supported the development of local green industries and economic transformation and upgrading but also enhanced the green finance business of financial institutions and drove the rapid development of the national green financial market.