Wang Xin, Director of the Research Bureau of the Central Bank: Research on the transformation of financial standards in construction, building materials, steel, coal power, agriculture and other fields is underway

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 Titanium Media App reported on July 30 that Wang Xin, Director of the Research Bureau of the People's Bank of China, said in his keynote speech at the "2022 Qingdao • China Fortune Forum" that since 2021, in order to clarify the financial support for high-carbon industries and low-carbon transformation of projects To support the scope and avoid “one-size-fits-all” and campaign-style carbon reduction for financial institutions, the People’s Bank of China has stepped up research and formulation of financial standards for transformation. At present, my country has initially clarified the basic principles of financial transformation. Transformational financial standards should be coordinated with national and local industry policies, compatible with internationally accepted standards, and relevant environmental information disclosure should be based on standards. In terms of specific standard formulation, the central bank is organizing efforts to carry out research on transformational financial standards in the fields of construction, building materials, steel, coal power, agriculture, etc., which will be released publicly when conditions are ripe. The establishment of relevant standards will help financial institutions meet market demand. Actively innovating and transforming, financial product tools can provide more investment options for the wealth management industry, and comprehensively achieve social benefits, environmental benefits and economic benefits.

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