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Development of Green Finance in Guizhou: Practical Experience and Policy Options(No.44, 2018)

By Wang Hui, Tian Hui & Lan Hong, Research Team on “Green Finance Development in Guian New Area”, China Economic Times

Research report No.44, 2018 (Total 5319) 2018-3-9

Abstract: As one of the five national-level pilot zones for green financial reform and innovation, Guian new area in Guizhou province has achieved positive results in green finance. Guizhou province made an early start in initiating green finance and has so far accumulated valuable experience in this regard, mainly including: attaching great importance to the construction of ecological civilization to lay a solid foundation for the development of green financial system; implementing local green finance development plans in a timely manner to send clear and positive signals to the financial market; and vigorously launching relevant innovations while providing preferential policy measures to guide green financial development. However, Guizhou province has also met some problems in the process of developing green finance. For instance, there lacks an effective linking mechanism between local exploration drive and top-level design; various financial functions driving green development have not yet been fully put into effect; and effective incentive and restraint mechanisms have not yet been established. Efforts need to be made to further improve the current policy system, so as to form a synergy between “top-level design” and “local exploration drive” and closely coordinate the top-down and bottom-up-based mechanism.

Key words: green finance, local exploration drive, Guizhou province