China to issue RMB-denominated green sovereign bond in London

BEIJING, March 19 (Xinhua) -- China is set to debut an RMB-denominated sovereign green bond in London, the Ministry of Finance said on Wednesday.

The value will not exceed 6 billion yuan (833 million U.S. dollars) and specifics will be announced prior to the issuance, the ministry said.

In February, the ministry released a framework for sovereign green bonds, paving the foundation for the country to issue offshore sovereign green bonds and global capital to invest in its green development.

The funds raised by green bonds under the framework will be allocated to eligible green projects included in the central fiscal budget. The funds are expected to contribute to achieving environmental goals such as climate change mitigation and adaptation, natural resource protection, pollution control, and biodiversity preservation.

This initiative aims to diversify the range of high-quality green bond products in the global market and attract international capital to support domestic green and low-carbon development.