Domestic green bonds will not support fossil energy (e.g. coal) clean utilization projects – high-carbon emission projects in nature – just as what international mainstream green bonds have already done. Green Bonds List (2021 Edition), to be implemented on July 1, 2021 and jointly issued by the People's Bank of China, the National Development and Reform Commission, and the China Securities Regulatory Commission, has three features:

* More scientific and accurate definition standards about green projects

* Optimized bond management – unifying definition standards of green projects for the first time; reducing costs of green bond issuance, trading and management; improving pricing efficiency

* Providing green bond development with guidance and flexibility