Guangzhou's Huangpu district has launched a series of 10 major measures to boost the development of green finance with the highest discount in China on April 20.
Green finance has become a major part of China's national strategy, which uses institutional and policy arrangements to encourage more investment in energy-saving and environmentally friendly projects via financial products and services like loans, bonds, stocks, private equity, insurance, and carbon emissions trading.
Huangpu's document on its green financial policy outlines a total of 22 detailed measures in 10 areas, such as green finance organization, green loans, green insurance, and green funds to boost the development of local green finance.
Huangpu will support banking financial institutions to set up various kinds of institutions specializing in green finance in the district, devoting great efforts in attracting green financial institutions to settle down in Huangpu.
Banking financial institutions that set up branches for green finance can receive a reward of 6 million yuan ($847,594.53).
Service institutions or industrial associations managing green finance that meet certain requirements for settling down in Huangpu can receive a one-time reward of up to 1 million yuan, as well as a subsidy for renting places of up to 8 million yuan.
Green companies that are listed on capital markets at home and abroad can receive a reward of 8 million yuan phase by phase.
In addition, Huangpu will explore communication and cooperation in green finance in the Guangdong-Hong Kong-Macao Greater Bay Area with the goal of turning the district into a hub for green finance.
This English version is only for reference. To learn more, please refer to the authoritative Chinese version at hp.gov.cn.