Wang Yao, Dean of the International Institute of Green Finance, hosts a panel during the forum held at the Central University of Finance and Economics on March 20, 2017. [Photo provided to chinadaily.com.cn]

Acknowledging the publication of the new index series as the first cross-border synchronous display of Chinese green bond index series, Wang Yao, Dean of the IIGF, said:"the publication will help raise the international influence of China's green finance, attract foreign investors to participate in the construction of China's green financial system and promote the development of green industries in China."

Chief economist at the Research Bureau of the People's Bank of China, Ma Jun, said that the green finance in China could see further progress in such areas as green credit, green bonds, green insurance and so on.

Ma said the green bond market in China has seen a fast development, as the country issued a total of 200 billion yuan ($28.9 billion) worth of green bonds in China and 30 billion yuan worth of green bonds overseas. Ma added the combined 230 billion yuan worth of green bonds accounted for 40 percent of the green bonds issued globally.

Ma pointed out that there are still many challenges. For example, the green bonds in China don't have a unified standard, and they must work towards that.

Referring to pledges made in the Paris climate change agreement, Robert Scharfe, CEO of LuxSE, said:"Today's decision to launch and display three indices tracking China's green bond market is part of a joint effort to help bridge the gap between Europe and China, the world's two largest green bond markets. Such cross-border cooperation is crucial if we are to build the necessary scale to successfully transition towards sustainable economies and achieve our global climate change targets."

The indices will be displayed on both LuxSE and SZSE's official websites at the same time. Foreign investors can then get related information of Chinese green bonds online in real time.  

Ma Jun, chief economist at the Research Bureau of the People's Bank of China, speaks at the forum held at the Central University of Finance and Economics on March 20, 2017. [Photo provided to chinadaily.com.cn]