Bonds Apr 13

Huaxia Bank to issue up to 10bn yuan of green bonds

Debt sold to fund environmentally friendly projects 

by Nadeem Xu
Huaxia Bank to issue up to 10bn yuan of green bonds
Huaxia Bank has joined the surge of green bond sales. Photo: Commons.wikimedia

(ATF) – Huaxia Bank, a mid-sized lender in China, has gained approval from the People's Bank of China to issue up to 10 billion yuan ($1.4bn) of green bonds to fund environmentally friendly projects.

After the issuance, the bonds will be traded on China's interbank bond market, Hauxia said in a statement on Sunday, promising timely and accurate information disclosure to ensure the funds are used for green industry projects.

China has been pushing the development of green finance to support efforts to clean up its industrial base and to further an anti-pollution drive. It announced a plan in 2016 to establish a national green finance mechanism, becoming the first country to make such a move.