China’s green bond issuance logs rapid growth

China's green bond issuance saw robust growth this year amid the country's push to reduce carbon emissions and advance green development, according to industry data.

As of June 9, the country had issued green bonds worth 361.56 billion yuan (54.03 billion U.S. dollars) in 2022, jumping 73.72 percent over the previous year, data from financial information provider Tonghuashun shows, reports Xinhua.

By the end of 2020, the value of China's outstanding green bonds hit 813.2 billion yuan, the second highest in the world.

China's green bond market has registered strong expansion in recent years, says a research report from the China International Capital Corporation, noting that 611 billion yuan of green bonds were issued last year.

At present, the funds raised through green bonds are widely used in green development projects in such fields as clean energy, green transportation, pollution prevention and control and climate change response, said Zhang Lichao with Guosen Securities.