Modern China Financial Cooperation for Solving Sustainability Ch
Calling for more cooperation between China and the west, this new book by noted author and educator Cary Krosinsky provides readers with an on-the-ground perspective of what’s really happening in China today on the back of its recent economic rise, its de
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MODERN CHINA Financial Cooperation for Solving Sustainability Challenges Foreword by Dr. Ma Jun
Modern China
Cary Krosinsky
Modern China Financial Cooperation for Solving Sustainability Challenges
Cary Krosinsky Yale University Guilford, CT, USA
ISBN 978-3-030-39203-1 ISBN 978-3-030-39204-8 (eBook) https://doi.org/10.1007/978-3-030-39204-8 © The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2020 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: © danielo / shutterstock.com This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Foreword
It may surprise readers of this book to know that China has become a leader in advancing green finance, not only at home but also in regions around the world. The past few years has seen China assuming leadership roles, including initiating the Green Finance Study Group within the G20 in 2016, and later helping build an initiative by a coalition of central banks that became known as the Network for Greening the Financial System, or NGFS, with partner central banks of the UK, France, Germany and other nations, formally laying a roadmap for greening finance. Among the initiatives led by China are the development of green finance taxonomies, introduction of policy incentives for green projects, securitization of green assets that injects liquidity and vibrancy to these markets, as well as the launch of private equities and venture capital funds for the utilization of solar, wind and other alternative energy and related technologies, such as battery storage improvement, thereby significantly reducing the need for government subsidies in these industries. Technology can and must include the developm
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