It is estimated that about 50 percent of China’s annual gross domestic product(GDP)is needed to compensate the environment cost,it is urgent to shift China’s massive economy to green one.In China’s 13th Five-Year p...It is estimated that about 50 percent of China’s annual gross domestic product(GDP)is needed to compensate the environment cost,it is urgent to shift China’s massive economy to green one.In China’s 13th Five-Year plan(2016-2020),China plans to establish the“ecological civilization”,incorporating air pollution control,energy consumption control targets,and green finance,laying out China’s transition towards a green and low-carbon economy.However,the green finance system establishment demands many auxiliary systems,such as fiscal support,legal institutions,and other taxation aids.From global perspective,the green finance system also helps to reduce the environmental risks worldwide both the countries along ancient silk roads and the European countries.On the other hand,investment in Europe has still not recovered from pre-financial crisis levels.The European Union has to massively accelerate investment to meet its climate and energy obligations with an annual investment gap of€100 billion in funding Europe’s energy infrastructure to reach its climate and energy targets.The European Union plans to re-boot the Capital Markets Union to help meet this challenge by setting up an expert group on sustainable finance.Both China and Europe are facing the climate challenge and they have to deal with it together.Chinese government advocates public-private partnership(PPP)model to improve the funding environment and actively seek way out.This paper aims to arouse the awareness of cooperation in Europe and China in green financing and hi-tech field,by creating a framework to improve the financing mechanism of environmental protection and green economy.展开更多
文摘It is estimated that about 50 percent of China’s annual gross domestic product(GDP)is needed to compensate the environment cost,it is urgent to shift China’s massive economy to green one.In China’s 13th Five-Year plan(2016-2020),China plans to establish the“ecological civilization”,incorporating air pollution control,energy consumption control targets,and green finance,laying out China’s transition towards a green and low-carbon economy.However,the green finance system establishment demands many auxiliary systems,such as fiscal support,legal institutions,and other taxation aids.From global perspective,the green finance system also helps to reduce the environmental risks worldwide both the countries along ancient silk roads and the European countries.On the other hand,investment in Europe has still not recovered from pre-financial crisis levels.The European Union has to massively accelerate investment to meet its climate and energy obligations with an annual investment gap of€100 billion in funding Europe’s energy infrastructure to reach its climate and energy targets.The European Union plans to re-boot the Capital Markets Union to help meet this challenge by setting up an expert group on sustainable finance.Both China and Europe are facing the climate challenge and they have to deal with it together.Chinese government advocates public-private partnership(PPP)model to improve the funding environment and actively seek way out.This paper aims to arouse the awareness of cooperation in Europe and China in green financing and hi-tech field,by creating a framework to improve the financing mechanism of environmental protection and green economy.
