中国式转型金融:典型事实、发展动力与现存挑战

Chinese Transition Finance:Stylized Facts,Future Prospects and Existing Challenges

中国实现经济转型升级离不开转型金融的大力支持。中国式转型金融方兴未艾,尚处于起步阶段;转型金融市场规模和产品种类相对有限,主要集中在减排项目领域;在“双碳”目标约束下,中国金融机构成为转型金融的重要参与者和支持者;中国正在加强转型金融框架建设,“五大支柱”可提供有益参考。同时,中国式转型金融面临标准和路线图缺失、行业及项目相关信息和数据基础较为薄弱、产品设计机制不完善、转型金融商业模式可持续性函待维持等多方面现存挑战。未来,中国转型金融市场将更加活跃,转型金融产品规模也将迎来爆发式增长。因此,应尽快设置结构化转型金融标准,加强转型金融产品的标准化信息披露、金融市场的互联互通与国际合作,加快推进转型金融市场的规范化、产品的多样化;同时,应推动政府部门、金融机构与转型企业三方发力,构建高效可持续的中国式转型金融商业模式与激励机制。

The process of China's economic transformation and upgrading cannot be separated from the strong support from transition finance.The Chinese-style transition finance is still in its early development stage;the scale and product types of the transition financial market are relatively limited,mainly concentrated in the field of emission reduction projects;under the constraint of the dual carbon goal,China's financial institutions have become important participants and supporters of transition finance.China is strengthening the building of the transition finance framework.Currently,China's transition finance is faced with many challenges,such as lack of standards and road map,weak information and data foundation related to industry and projects,immature product design mechanism,and urgent need to improve the sustainability of transition finance business model.In the future,China's transition finance market will become more active,and the scale of transition finance products will also see explosive growth.Therefore,China should set up structural transition finance standards as soon as possible,strengthen standardized information disclosure of transition finance products,connect with the financial market in terms of connectivity and international cooperation,and promote the standardization of transition finance markets and diversification of products as soon as possible.Meanwhile,the government,financial institutions and transition enterprises should join hands to build an efficient and sustainable Chinese-style transition finance business model and incentive mechanism.