International Experiences in Green Finance Development

72 International Experiences in Green Finance Development: Lessons for Hong Kong support the development of carbon financial products and green finance initiatives. NGOs such as the Guangzhou Green Finance Association and the Green Finance Professional Committee of Guangdong Financial Society provide research, promote collaboration, and facilitate information sharing to advance green finance (Table 16). Table 15: Key Policies in Recent Years in Guangzhou Time Policy Content Institution 2017 Overall Programme for the Construction of the Pilot Zones for Green Finance Reform and Innovations of Guangzhou This programme puts forward the main tasks of fostering the development of the green financial organizational system, innovating the development of green financial products and services, supporting the green industry to broaden financing channels, exploring the construction of environmental rights and interests trading market in a prudent and orderly manner, accelerating the development of green insurance, consolidating the green financial infrastructure, strengthening the green financial exchanges and cooperation with the outside world, constructing the mechanism of green financial services to lead the development of transformation and upgrading of the industry, and establishing a mechanism for preventing and mitigating the green financial risks. People’s Bank of China, Development and Reform Commission, Ministry of Finance, Ministry of Environmental Protection, China Banking Regulatory, Commission (CBRC), CSRC, China Insurance Regulatory Commission (CIRC) 2017 Several Measures to Support the Innovative Development of Green Finance and Green Industry in the Huadu District of Guangzhou City This program proposes policy support for new energy and new materials, modern service industry and other industries, including the establishment of special funds for green development, cultivation of green financial organizational system, promotion of green finance to support the green industry, guiding the development of green industry agglomeration, innovation of green financial products and services, and promotion of green enterprises’ listing and quoting. Guangzhou Huadu District People’s Government Office