SDG Finance in China | 2019 February

1. Hong Kong Facilitated Vigorous Development of the Green Financial Centre at the Greater Bay Area

The “Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area” was officially published in February 2019, providing an overall blueprint for the strategic orientation, development objectives and the space layout of the Greater Bay Area. It clearly proposes to develop green finance and build a green finance centre at the Greater Bay Area, supporting Hong Kong to build a green finance hub in Greater Bay Area, Guangzhou to construct a green finance reform and innovation pilot zone and Macau to develop financial services including rental services.

2. Shenzhen Government Included the Sustainable Finance in the Scope of Grants

“In the year of 2018, the local government in Futian district, Shenzhen city, will grant RMB 12 million to projects in the fields of FinTech, Technology for Green Finance, Technology for Social Impact Finance, and so on,” the Director of Shenzhen Municipal Financial Supervision Bureau Jie He noted in recent China (Shenzhen) FinTech Development Forum,“green finance and social impact finance both belong to the sector ofsustainable finance. It's the first time for the government to include the sustainable finance in the scope of grants and the government will continue to encourage and promote the development of this field in the future.

In February 2019, “The Development Plan for Guangdong-Hong Kong-Macao Greater Bay Area” was released, proposing to build an“international science and technology innovation center with global impact”, and “strengthen the cooperation between Guangdong province and Hong Kong ingreen finance and FinTech.” The director suggested, “We should seize the newopportunity to better construct the Great Bay Area.”