Financial systems should play an important role in the green economic transition. That’s the word from the Governor of the People’s Bank of China, Zhou Xiaochuan.
Zhou made the remark in his opening address, at the Green Finance Symposium in Washington on Saturday. The symposium was jointly held by the Paulson Institute of the University of Chicago and the China Society for Finance and Banking.
Former US Treasury Secretary Henry Paulson said that China’s Presidency of the G20 will provide a rare historical opportunity for creating a green financial system.
Zhou Xiaochuan said Green Finance will be a special topic at September’s G20 meeting in Hangzhou. He said China will make greater efforts to develop green finance.
“According to our estimates, China will need to invest about 600 billion U.S. dollars per year in the coming five years in green sectors. This means that we need to double our annual green investment over the current level,” he said.
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