Opinions of the General Office of Guangzhou Municipal Government on Promoting the Innovation and Development of Green Finance Reform in Guangzhou (Sui Fu Ban Han [2019] No.103)

16 July 2019

The General Office of Guangzhou Municipal Government issued an opinion on promoting the innovation and development of green finance reform in Guangzhou on 16 July 2019. The opinion proposes to launch 22 specific tasks from 4 key directions, including deepening the innovation of green finance reform, implementing the tasks of green finance in Guangzhou, strengthening the prevention of green financial risks and demonstrating a leading role of green finance in Guangdong-Hong Kong-Macao Greater Bay Area. In terms of cooperation with Hong Kong and Macao, the opinion proposes to focus on areas around the green financial centre in Hong Kong, with measures to encourage companies to issue green bonds in Hong Kong so as to further promote the development of green finance in Hong Kong and Guangzhou. Moreover, it will also unify the standards on green finance within the Greater Bay Area, promote the interconnection of green financial markets in the Greater Bay Area, establish a cooperative mechanism for self-regulatory green financial institutions, encourage qualified financial institutions and enterprises in Hong Kong and Macao to set up green finance businesses, strengthen the links between the financial departments of Guangdong, Hong Kong and Macao and establish a green finance supervision coordination mechanism in the Greater Bay Area.

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