To further promote the opening of China’s green bond market, and enhance the role of the Common Ground Taxonomy (CGT) in facilitating cross-border flows of green capital, the expert group convened by the Green Finance Committee (GFC) of China Society for Finance and Banking has undertaken the relabelling work for green bonds newly issued in China’s interbank market in June 2025 against the CGT.
14 green bonds supporting projects on climate mitigation have been newly identified as CGT-aligned, with a total scale of RMB 14.4 billion. Among these, 7 green bonds have already been aligned with the CGT during issuance. Each bond meets the specified technical requirements outlined in the Substantial Contribution Criteria of the CGT. The specific details are as follows:
Table 1: New Relabelled Green Bonds
|
Number
|
ISIN
|
Bond
|
Issuing Amount (RMB/100 Million)
|
|
1
|
CND10009GBF4
|
SENE NEW ENERGY GN 25(002)(TIB)
|
10.00
|
|
2
|
CND10009G967
|
KANGFU LEASING MTN 25(004)(CARBON NEUTRAL BOND)
|
3.00
|
|
3
|
CND10009G314
|
LU HI-SPEED GN 25(005)(CARBON NEUTRAL BOND)
|
10.00
|
|
4
|
CND10009G2G4
|
HONG KONG FIN GN 25(001)(CARBON NEUTRAL BOND)
|
15.00
|
|
5
|
CND10009FW21
|
YUNNAN POWER GENERATION MTN 25(002) A(GREEN)
|
5.00
|
|
6
|
CND10009F050
|
HN HYDROPOWER GN 25(005)(TECH INNO BOND)
|
7.00
|
|
7
|
CND10009F0S4
|
THREE GORGES GN 25(004)(CARBON NEUTRAL BOND)
|
20.00
|
|
8
|
CND10009DW31
|
HAIER SMART HOME MTN 25(002)(GTN TECH INNO BOND)
|
20.00
|
|
9
|
CND10009DWD2
|
THREE GORGES GN 25(003)(CARBON NEUTRAL BOND)
|
20.00
|
|
10
|
CND10009DQW4
|
TIANCHENG LEASING GN 25(002)(CARBON NEUTRAL BOND)
|
10.00
|
|
11
|
CND10009CXW2
|
RONGHE FINANCING MTN 25(003)(CARBON NEUTRAL BOND)
|
10.00
|
|
12
|
CND10009D1Z9
|
FUZHOU METRO GN 25(002)(CARBON NEUTRAL BOND)
|
5.00
|
|
13
|
CND10009CZW7
|
STATE GRID LEASING SCP 25(007)(GREEN)
|
4.00
|
|
14
|
CND10009CC36
|
KANGFU LEASING MTN 25(002)(CARBON NEUTRAL BOND)
|
5.00
|
In July 2025, 10 CGT-aligned Chinese outstanding green bonds were due. The specific details are as follows:
Table 2: Matured Relabelled Green Bonds
|
Number
|
ISIN
|
Bond
|
Issuing Amount (RMB/100 Million)
|
|
1
|
CND1000548S1
|
22 CIMC GN001
|
5.00
|
|
2
|
CND10005BH10
|
TIANCHENG LEASING GN 22(001)(CARBON NEUTRAL BOND)
|
10.00
|
|
3
|
CND100054PB0
|
BOND 2228036
|
100.00
|
|
4
|
CND100058B67
|
FUZHOU METRO GN 22(001)
|
2.00
|
|
5
|
CND10005CBC8
|
LU HI-SPEED MTN 22(004)(CNB)
|
10.00
|
|
6
|
CND10006L6H9
|
RONGHE FINANCING GN 23(004)(CARBON NEUTRAL BOND)
|
5.00
|
|
7
|
CND10006N605
|
XINHUA HYDROPOWER GN 23(001)(CNB)
|
10.00
|
|
8
|
CND10006N860
|
HUANENG HYDROPOWER GN 23(011)
|
10.00
|
|
9
|
CND10008BX82
|
STATE GRID LEASING CP 24(001)(BLUE BOND)
|
4.00
|
|
10
|
CND10008PWL1
|
DATANG LEASING SCP 24(008)(GREEN)
|
2.00
|
As of June 30, 2025, expert group has evaluated a total of 440 CGT-aligned Chinese green bonds traded in the interbank market, 268 of which remain in duration.
The 268 outstanding bonds account for 24.72% of the total number of outstanding green bonds in the interbank market, with an issuance scale of RMB 349.431 billion, accounting for 18.49% of the total scale of outstanding green bonds in the interbank market. Among them, the proportion of issuance scale with issuer rating of AAA, AA+, AA, and unrated is 92.9%, 4.8%, 0.3% and 2.0% respectively. The top three allocations of use of proceeds are D1.3 Electricity generation from wind power (25.7%), H1.1 Construction and operation of public transportation system in urban and rural areas (25.2%), and D1.5 Electricity generation from hydropower (19.7%).
The Common Ground Taxonomy (CGT) aligned bond data published on this and other websites as part of China’s bond labeling work by the Expert Group convened by the Green Finance Committee of China Society for Finance and Banking is public information. The Expert Group welcomes all individuals and institutions to disseminate and use these data, and to develop indices, products and related services on the basis of these data.
Click here for the list of CGT aligned Chinese green bonds (July 2025 version)
https://www.chinamoney.com.cn/english/svcnrl/20250731/3164170.html?sessionid=1975748556
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