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How Fintech Promotes China's Green Finance Development: Policies, Markets and Opportunities

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Lyu, Yunzhen. 2021. “How Fintech Promotes China’s Green Finance Development: Policies, Markets and Opportunities.” SSRN Scholarly Paper ID 3899690. Rochester, NY: Social Science Research Network (SSRN).

In September 2020, Chinese President Xi Jinping announced at the 75th United Nations Conference that China will strive to achieve carbon peaks by 2030 and carbon neutrality by 2060. China's investment in green and low-carbon fields is expected to continue to increase rapidly, and green finance will play a more important role. As an important support for the construction of the green financial system, the financial technology will play a key role in supporting the green financial services to the real economy more effectively. In China, financial technology has made some explorations and practices to promote green financial integration and sustainable development. It has been applied in more and more industries such as agriculture, consumption, construction, and micro-enterprises. For example, the use of financial technology can more effectively identify green assets, projects, products and services, carry out the collection, traceability, processing and analysis of environmental benefit data, and support green asset trading platforms, etc.; Financial institutions provide tools and methods to solve information asymmetry, reduce costs, and improve efficiency in low-carbon asset identification, transformation risk quantification, carbon asset information disclosure, etc.; it can be used in the green financial supervision policy tool, Enterprise carbon neutrality, systemic risk analysis, green investment and financing, financial products and innovative services, and green market mechanism construction provide more effective solutions.

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