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 May 2025 against the CGT.
15 green bonds supporting projects on climate mitigation have been newly identified as CGT-aligned, with a total scale of RMB 10.05 billion. Among these, 8 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
|
CND100098J53
|
BEIQING ELECTRIC POWER GN 25(001)
|
5.00
|
|
2
|
CND100099BL4
|
SU GUOXIN GN 25(002)(TWO NEW TECH INNO BOND)
|
5.30
|
|
3
|
CND100099BD1
|
STATE GRID LEASING SCP 25(004)(GREEN)
|
5.00
|
|
4
|
CND100098MV2
|
RONGHE FINANCING SCP 25(003)(GREEN)
|
5.00
|
|
5
|
CND100099J78
|
CALB GN 25(001)(TECH INNO BOND)
|
5.00
|
|
6
|
CND100099J45
|
LONGYUAN POWER GN 25(001)
|
15.00
|
|
7
|
CND100099N80
|
YALONG RIVER MTN 25(001)(CARBON NEUTRAL BOND) A
|
6.00
|
|
8
|
CND100099N72
|
YALONG RIVER MTN 25(001)(CARBON NEUTRAL BOND) B
|
4.00
|
|
9
|
CND100099Z78
|
RONGHE FINANCING MTN 25(002)(CARBON NEUTRAL BOND)
|
10.00
|
|
10
|
CND10009B7R5
|
HUANENG HYDROPOWER GN 25(004)(TIB/RURAL REVI)
|
10.00
|
|
11
|
CND10009B7H6
|
HUADIAN LEASING MTN 25(002)(GREEN)
|
10.00
|
|
12
|
CND10009B653
|
DATANG LEASING GN 25(002) A
|
2.50
|
|
13
|
CND10009B646
|
DATANG LEASING GN 25(002) B
|
2.50
|
|
14
|
CND10009BCV0
|
LU HONGQIAO GN 25(003) (TECH INNO BOND)
|
5.00
|
|
15
|
CND10009BK52
|
CECEP GN 25(001)(TECH INNO BOND)
|
10.20
|
In May 2025, 4 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
|
CND10004V0C3
|
22 CTGR MTN002
|
20.00
|
|
2
|
CND10004V0G4
|
LONGYUAN POWER GN MTN 22(001)
|
15.00
|
|
3
|
CND10004V0K6
|
22 CPI LEASING GN002
|
10.00
|
|
4
|
CND10004VTM2
|
22 YALONG RIVER GN002
|
10.00
|
As of May 31, 2025, expert group has evaluated a total of 426 CGT-aligned Chinese green bonds traded in the interbank market, 264 of which remain in duration.
The 264 outstanding bonds account for 24.86% of the total number of outstanding green bonds in the interbank market, with an issuance scale of RMB 350.831 billion, accounting for 19.39% 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 92.8%, 5.1%, 0.3% and 1.9% respectively. The top three allocations of use of proceeds are D1.3 Electricity generation from wind power (26.6%), H1.1 Construction and operation of public transportation system in urban and rural areas (24.7%), and D1.1 Electricity generation using solar photovoltaic technology (19.1%).
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 (June 2025 version)
