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  • In terms of green finance, Agricultural Bank of China was the least advanced of China’s four state-owned commercial banks until relatively recently. But thanks to some nimble steps taken in the last two years, the world’s third-largest bank by assets has not only gained access to the international green-bond market, but has also emerged as a big green-credit provider in China.
  • No other international organization can match the IFC in contributing to the advance of green finance in China. The whole idea of green finance was brought in by the IFC, an affiliate of the World Bank. In the last decade, it has encouraged and advised a slew of Chinese banks, big and small, to provide green finance and embrace global standards in their practices.
  • Along with other Chinese banks, Industrial Bank recorded robust growth in green-finance provision in 2016. But while its peers have been busy pursuing strong growth in the provision of green finance, Industrial Bank was sober enough to stay alert to the risks associated with its green lending activities.
  • In recent years, green lending has not only been embraced by national banks in China, but also gained traction with socially responsible and environmentally conscious regional commercial banks. Bank of Jiangsu, which operates in the eponymous eastern province, has emerged as a leader among regional commercial banks in both green-credit provision and the adoption of international green-lending best practices.
  • After embracing green finance with great enthusiasm a few years ago, Agricultural Bank of China, a 65-year-old state-owned bank in China, has emerged as a big green-credit provider in the domestic market. What is equally impressive is that ABC has also become a leader among Chinese banks to tap the global financial market to support its green lending at home and to establish cross-border green investment funds with international financial institutions.
  • Shanghai Pudong Development Bank is one of the second-tier national commercial banks in China. There is no way for the Shanghai-based bank to match the country’s big four state-owned commercial banks in terms of green lending, but it has established itself as a leading player in the domestic green-bond market.
  • Bank of China (BoC) entered the international gold market in the 1970s, when it was a specialized foreign exchange and trade bank – becoming the first Chinese commercial bank to do so.
  • Shanghai Pudong Development Bank (SPDB), run by president Pan Weidong, is recognized by both its state-owned and joint stock commercial peers as a leading Chinese joint stock bank in gold trading. Over the last five years, its turnover from retail customers trading gold on the Shanghai Gold Exchange jumped 28 times, from Rmb41.6 billion ($5.8 billion) in 2014 to a record Rmb1.21 trillion in 2019. Year-on-year growth was nearly 127%.
  • China Minsheng Bank is regarded as one of the most innovative and technology-savvy Chinese banks – and its precious metals
  • Industrial and Commercial Bank of China is regarded as a pioneer among Chinese banks when it comes to developing products and services to help its customers trade and invest in gold and other precious metals, and last year it continued to strengthen its position as the market leader in serving precious-metal clients.
  • Shanghai Pudong Development Bank has established itself as a leader in the domestic retail gold market by virtue of its effective marketing strategy, outstanding education programmes and investment advisory services, even though it is a much smaller bank than the state-owned Chinese commercial banks by assets.
  • Capitalizing on its abundant experience in green-finance verification globally and the unrivalled expertise of its Climate Change and Sustainability Services team on the ground, EY is recognized as a pioneer and leader in China when it comes to providing verification services and safeguarding the development of the local green-finance sector. Judy Li is its green finance leader in China.