綠色金融 (lǜsè jīnróng): Green finance

Green finance was a key topic at the G20 Summit held in Hangzhou, East China's Zhejiang province.

Earlier, on Aug 31, the People's Bank of China, the country's central bank, together with six ministries published guidelines for establishing a green finance system that can provide financial services to support efforts to fight climate change.

Chen Yulu, deputy governor of the PBoC, told Xinhua News Agency recently that the demand for green financing keeps growing and the government will introduce policies to promote the development of green financing, such as setting up a national green development fund and offering government interest subsidies via refinancing.

The central government will also encourage local governments to include green financing into their annual lists while guarding against possible risks to ensure financial stability.

China is already the world's largest green bond market, with the total value of green bonds issued in the first half of the year reaching 75 billion yuan ($11 billion), 33 percent of the world's total.