Forum focuses on green finance

China should promote innovation in green finance and expand sources of funding for green finance by making strong efforts such as developing green bonds and issuing green asset-backed securities, bankers and policymakers said at a forum on Tuesday.

"Green finance must rely on innovation, as demand and supply are very complicated in this field of business," said Ma Jun, a member of the monetary policy committee of the People's Bank of China.

Aside from encouraging green bond issuance and the use of environmental rights as collateral for financing, China should promote asset-backed securitization of green loans so that institutional investors become more involved in green asset investment, Ma told a green finance forum held by Industrial Bank Co Ltd, a Fuzhou-based commercial bank taking the lead in providing green financial services in China.