DRC and the Export-Import Bank of China jointly release a report titled "Green Finance for the Belt and Road - China’s Approaches and Practices" on April 23. [photo/drc.gov.cn]

The Development Research Center of the State Council (DRC) and the Export-Import Bank of China (China EximBank) jointly released a report titled "Green Finance for the Belt and Road - China’s Approaches and Practices" in Beijing on April 23.

Li Wei, President of DRC, Yu Bin, Director-general of DRC General Office, Hu Xiaolian, board chairman of China EximBank, and Sun Ping, Vice-President of China EximBank attended the event.

The report jointly released by DRC and China EximBank aims at exerting their respective experiences and advantages in green policy research and financial practice. From the macro and micro levels, and the perspectives of think tanks and banks, the report focuses on the concept and practice of green finance for the Belt and Road in China, demonstrates the effectiveness of green finance for the Belt and Road, and guides Chinese enterprises and financial institutions to support more financial development projects and play a positive role in building a community of shared destiny for mankind.

The report is divided into two parts. The first part focuses on the experience and path of green finance development at home and abroad and the development of green finance for the Belt and Road; it provides policy recommendations and lessons for China to promote the development of Belt and Road green finance. The second part introduces in detail the work carried out by China EximBank in implementing the concept of green finance. The report takes typical projects as examples to comprehensively demonstrate the development results of green finance for the Belt and Road, and explores its development trend in the future and cooperation prospects.

In his speech, Yu pointed out that the green Belt and Road construction provides an important path for building a community of shared destiny for mankind and implementing the 2030 Agenda for Sustainable Development. As a market-oriented institutional arrangement, green finance is an important support for building a sustainable economic system. Promoting green financial cooperation will not only guide more funds to invest in green industries, encourage more people to pay attention to ecology, work together to protect the environment, but also open up new fields and inject new impetus for pragmatic cooperation. DRC will play the role of a research and exchange platform through the Center for International Knowledge on Development, and make positive contributions to promoting green finance for the Belt and Road Initiative.

Sun said in his speech that China EximBank is a practitioner of green finance and has provided financial support for the green Belt and Road construction. As of the end of 2018, the balance of green credit of China EximBank exceeded 250 billion yuan ($37.15 billion). In the future, China EximBank will increase green finance support for the Belt and Road, deepen green cooperation with think tanks and other parties, and promote the green and sustainable development of the world.