We also recognise that communication needs to be backed by commensurate actions to build credibility and instil wider confidence in our policies. We explain the rationale of our actions in the best traditions of accountability and transparency, the hallmark of a modern market-based approach to monetary policy making. 16.
China has made great progress in supporting green finance. In 2016, the PBOC, together with other ministries, published the Guidelines for Establishing a Green Financial System. Guided by this overarching design, we have established our green finance policy framework, and encouraged the development of a wide range of green finance products.