Figures from a research unit of the Chinese central bank indicate that China’s outstanding balance of green loans is currently the world’s largest.
As of the end of 2021, China’s domestic and foreign currency green loan balance stood at 15.9 trillion yuan (approx. USD$2.52 trillion), for year-on-year (YoY) growth of 33%, according to figures released by the China Central Bank Research Department (中国央行研究局) on 4 March.
According to the Department this figure is currently the largest in the world.
In 2021 domestic green bond issuance exceeded 600 billion yuan, for YoY growth of 180%, , while the outstanding balance reached 1.1 trillion yuan.
“China has already seen the incipient formation of a multi-tier green financial product and market system, comprised of green loans, green bonds, green insurance, green funds, green trusts and green financial products,” said the Department.