China
China’s First Sovereign RMB Green Bond Makes a Powerful Statement
On April 2, 2025, China issued its first sovereign green bond, raising 6 billion RMB (US$824 million), marking a significant step in green finance, cumulatively reaching US$555.5 billion since 2016.
China’s First Sovereign Green Bond
On April 2, 2025, China marked a significant milestone by issuing its inaugural sovereign green bond denominated in Chinese renminbi (RMB). Raising 6 billion RMB (approximately US$824 million), this historic issuance is notable as China’s first sovereign green bond and its first RMB bond listed on an international exchange.
The Rise of China’s Green Bond Market
China has garnered international attention for its green finance initiatives, launching its green bond market in 2016. By 2024, it had issued a staggering cumulative total of US$555.5 billion in green bonds, with US$68.8 billion alone issued that year, positioning it as the world’s third-largest green bond market.
A New Framework for Sustainability
Following high-level discussions in early 2025, the Chinese Ministry of Finance introduced a sovereign green bond framework. Structured according to Climate Bonds Initiative standards, this framework prioritizes climate mitigation, biodiversity protection, and sustainable resource management. The April issuance, oversubscribed by 6.9 times, resulted in yields significantly lower than other recent non-green RMB sovereign bonds, showcasing a shift towards sustainable investment.
Source : China’s first sovereign RMB green bond sends a strong signal
