BEIJING, Nov. 13 (Xinhua) -- A roundtable on green bond market development jointly sponsored by the Research Bureau of the People's Bank of China (PBOC) and GIZ, the German organization dedicated to promoting international cooperation, has recently been held in Beijing.
The meeting summarized the latest development in the global green bond market and introduced GIZ's cooperation with China in green financial capacity building.
It pointed out that under the framework of the Paris Agreement and the green financial policy by G20, the global consensus on green financial development is gradually taking shape.
To promote sustainable development of the green bond market, the meeting suggested clarifying the scope and standards of green bond issuance, adopting market-oriented measures to reduce the cost of issuance, improving the third-party service system and giving greater flexibility to green bond issuance and review.
It also urged efforts of improving the reward mechanism for investors and giving financial and tax incentives to market entities holding green bonds.
Experts attending the meeting noted that China should continue to open up its green bond market, implement the principle of responsible investment (PRI) in Belt and Road investments, and promote local currency settlement and cross-border RMB capital flows, in order to realize sound interactions between the domestic and overseas green bond markets.
More than 80 representatives from international organizations, multilateral financial institutions, government bodies, and climate research institutions of China and Germany attended the meeting. (Edited by Li Wenxin, Yang Qi, liwenxin@xinhua.org)
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