Third, we should make coordinated planning and full efforts to strengthen the “five major pillars” of green finance. The PBC has always placed a priority on green finance development.
Through years of exploring, the PBC has established a development concept for green finance featuring “three major functions” and “five major pillars,” namely to fully leverage three major functions of finance (resource allocation, risk management and market pricing) in supporting green and low-carbon development, so that the “five major pillars” (a system of green finance standards, supervisory and information disclosure requirements for financial institutions, incentive and constraint mechanisms, green financial products and their market system, and international cooperation on green finance) of the green finance system have been initially set up.